With the release of CosmWasm support last month, we have drafted the following proposal text on launching a smart contract on Osmosis mainnet with the goal of creating auto compounding vaults for each Osmosis pool. We would like the community’s feedback on what we have so far.
tl;dr:
The Meteor team is looking to build the first community-driven auto-compounder on Osmosis allowing for passive compounding of rewards for all liquidity providers.
Description:
Meteor is a fully-bootstrapped, yield optimizer that allows Osmosis liquidity providers to auto-compound their rewards back into their LP position, boosting their yield. Users are able to deposit into meteor vaults by going to meteor.farm, finding the vault they would like to deposit into, initialize the vault (if it is not already initialized), and depositing either OSMO or LP tokens into the vault.
How it's made:
All funds are held in a smart contract and are subject to the standard highest-yield 14-day unbonding period. 1 and 7-day bonding periods are unsupported but can be added through a governance proposal.
Meteor is governed via a multi-sig and are actively working to be a fully decentralized community-led autonomous organization.
Meteor is hoping to be the first auto-compounder built on top of the Osmosis DEX. Post audit, Meteor is hoping to also be the first fully open-source & decentralized auto-compounder which focuses on the Cosmos ecosystem.
We will focus on building out a series of tools that help community members better optimize their yields and automate tasks within DeFi. We also hope to lead the charge when it comes to migrating new assets onto the cosmos ecosystem. Starting with many ERC20 assets via the canonical bridge.
Who we are:
We are a small team of builders who are incredibly bullish and excited about the Osmosis ecosystem, some notable contributions/things we’ve worked on for the eco include an open source repo with frontend dev tooling for Osmosis as well as a small pull request to show/hide balances on the Osmosis asset screen.
What we need:
The Meteor team is looking to whitelist our contact so that we can open up the auto-compounder on mainnet. The testnet version is live.
Curious degens can check it out here: meteor.farm.
Thanks
Thanks for reading and if you have any feedback regarding our proposal, please either leave a comment or message me directly on telegram/twitter @nikita_builds
With the release of CosmWasm support last month, we have drafted the following proposal text on launching a smart contract on Osmosis mainnet which will create auto-compounding vaults for each Osmosis pool. We would like the community’s feedback on what we have so far.
tl;dr: