1/Y A thread on how you can leverage @iearnfinance not only as a yield source provider but also as a very powerful (and simple) framework to develop creative strategies.

A pegging mechanism which uses yield to peg @proofofhumanity $UBI to a target supply via a meta-vault

2/Y Few weeks ago @ryantcwynar @rudygt and @santisiri pinged me on brainstorm about how to use yield to burn @proofofhumanity $ubi so they can keep the supply stable

3/Y @proofofhumanity is a project which tries to solve challenges on digital identity developing a sybil resistant protocol, by @Kleros_io and @DemocracyEarth

TL;DR you verify your identity and mint $UBI, so supply increase for every human verified

4/Y The system we realised is a (yearn) vault (e.g. ubiDAI) where you deposit your asset (DAI)

This is deposited on the respective yearn vault (yvDAI)

Part of the profit is used to buy $UBI on Uniswap and burned

The system buy as much as needed to reach a specific supply (10M)
5/Y A really basic pegging mechanism which could seems a fork but it's not, we use @iearnfinance technology because it offers:

- tokenization of user deposits
- safe and simple strategies framework
- utilities (e.g. profit/mgmt fees)
- and other cool features

And ...
6/Y It's working, the very first harvest on 600 $DAI deposited few hours ago profited 0.04 DAI from $yvDAI and used half to buy 0.05 $UBI burning them

The remaining 0.02 DAI becomes profits for $ubiDAI users 😉

7/Y THE END. But this is just the beginning, feedbacks are welcome

@santisiri and @proofofhumanity are eager to know your thoughts!


@Ceazor7 maybe a diagram could help, thanks 🙏

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More from @emilianobonassi

22 Dec 20
Exploring @iearnfinance vault v2 strategies for one of my beloved projects @synthetix_io ⚔️😍⚒️

What about a simple 50% sBTC 50% iBTC strategy? 0% exposure on BTC and APY 101% as rewards in SNX

1. Stake SNX
2. Mint sUSD
3. Exchange for sBTC iBTC
4. Claim
5. Repeat
4 weeks!
Read 4 tweets
17 Dec 20
Taking a look...


This is the second attack whish uses multiple flash liquidity,
flash swaps via Uniswap and flash loans via dYdX

We will see very complex things via @AaveAave V2 batch flash loans :)
Quite interesting the attacker asked 3 loans via flash swaps to 3 different pools on Uniswap


It's definitely a batch flash loan via flash swaps!

And this is just the beginning...
And other two loans from dYdX

76k ETH and 2.9m DAI

Read 8 tweets
21 Nov 20
Evil jars deployed during the attack and passed in the swapExactJarForJar, investigating more on this



The are sensible ops executed in that method (e.g. approve, withdraw etc).
In addition in the second invocation for swapExactJarForJar there were passed a target and doing a delegate call to CurveProxyPool 😢

Really complex and is not using at all FlashLoans!

Read 7 tweets
7 Aug 20
I'm proud to release Gas Saver Gnosis Safe Module


a user smart-contract module for @gnosisSafe wallets which let you interact with

*ANY* protocol

and save tons of gas leveraging @1inchExchange $CHI and $GST2

Below how to use it and examples 👇
1/ Follow the instruction in the Readme and deploy your version (proxy) of the module. Then add it!

As you see in these txs, you can save up to 50% when interacting with @compoundfinance and @AaveAave

ANY protocol is supported immediately! Use in your @AragonProject DAO!
2/ With this release, I'm proud also to announce the version v1.2.1 of Gas Saver, a library for builders to enable saving in their smart-contracts!

Added support for traditional GST2 tokens!

This module is based on this work 😉

Read 5 tweets

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