Two hilarious blocks from the gated gateway of Bitcoin Miami managed to track down a key contributor to one of the most important projects in decentralized finance (DeFi). Blinded on all sides by unsuspecting bitcoiners, pseudonymous ear finance vault security expert “Doggy B” talks with Cointelegraph about the future of the yield vault protocol, as well as an as-yet-undeclared project to fundraise in Doggy City. Thi – Annals scaring Tony Hawk and Floyd Mayweather as Maxis chatting by our feet oblivious to the leaking of Alpha.
Describing without doxing is a delicate exercise, but here goes: The late Che Guevara beard, unibomber sunglasses, and everything else except a practically non-describing, “undercover FBI agent” vibe—of course. , except for pleasant and friendly behavior.
In 25 minutes to go through the gate, Dodgy breaks down protocol expansion, new products, and Eire’s unique brainpower gap—all of which point to steady growth for a project that’s been firing on all cylinders as of late. Has been doing.
new series, new products
Like many DeFi protocols, Layer-2 has been a focus for year-end developers and Vault strategists.
“A lot of strategists are playing with sidechains, redeploying vaults on sidechains,” Dodgy told Cointelegraph. “The vault will still be on ETH, but it will be a source of liquidity via a bridge from the sidechain.”
The only hurdle is that the bridges between chains can often be “flaky,” as Doggie said – the process can take hours or even days, angering traders and developers. Ultimately, he thinks that the rollup solutions are where the space will migrate in a big way.
“I see this as an exercise in optimism and a more ‘rapid’ layer-two such as ZK-Sync. Hopefully Ethereum lasts longer.”
He also shared that Vaults are in the works that use decentralized exchange liquidity pool positions, a long-awaited product fraught with complications.
“We have been working on and trying to make DEX strategies work for some time, because you have to deal with temporary losses,” he said.
The difficulty with these positions, especially during times of market volatility, is in limiting the downside from temporary losses. Options derivatives for hedging positions was a strategy that was initially tested, but decentralized options platforms largely lack liquidity and the pricing makes it an impractical solution.
The current working model is using liquidity from two safes — say, ETH and WBTC — and combining them to create a DEX pool position as part of the underlying vault strategy, he said.
Regardless of the exact method, finding a workable DEX strategy is a priority, as it is one of the few areas that have yet to be explored.
“Obviously it is orders of magnitude more complicated, but DEX is the only vertical where it is billions of dollars that we have yet to tap.”
development and tokens
In addition to expanding the functionality of the safes, Eir joins several other teams in exploring new verticals and products. While the market continues to drop 50%, DeFi protocols are shipping at an alarming pace, with Sushiswap, 1inch, and Aave expanding into new chains and protocols.
However, it remains an open question as to how projects are best expanded from a nominal economic point of view. Synthetics, for example, is planning four new protocols, each with its own new token.
Doggie said the Ear team is more conservative with money printers.
“The idea of tokens is an ideological focal point – you can kind of rally behind it. There is something to say, if it makes sense, you can go for it – we just haven’t found many things like that. , where in addition to printing more money, it makes sense to keep one.”
He Pointed to Keep3r as an example Where the project called for a new token, and teased that the team might do a mint for Year’s upcoming insurance offering, although the decision is still being discussed internally and Dodgy’s sentiment is that they will not. – Eventually, a new product could also drive the value for YFI tokens.
“There is something to be said for Aev, where their token is an insurance backstop for the money market. It can simply drive value for YFI, the use of YFI, without printing new tokens. […] Andre has made some stuff, and we’re waiting for it to be ready for production. ”
after Dissolution cover of merger with insurance/coverage protocol, Iran has been in need of an insurance solution along with the rest of the market. Despite users repeatedly requesting more coverage solutions, few products have been successful in launching. TVL has the biggest Nexus with half a billion, and they’re soon going to be a . can grow through Dissolution of their legal entity and requirement of KYC burden.
Doggy declined to provide any estimates on when the year’s insurance product would launch.
“Maybe in a few months, maybe tomorrow,” he joked.
Protocol is booming, with March acting as a banner month Volt brought in $4.88 million in revenue. Similarly, per DeFilama Vault TVL is entering parabolic growth, taking in $4.3 billion and ranking the protocol in the top-10 by size.
However, Metric Doggy told that was hiring. The team currently sits at 35 people, with more visiting “every day”.
He said raw human talent is especially important for a protocol that sees a new fork almost on a monthly basis — in fact, it will keep them competitive in the long run.
“Code is free, brains are not.”