Hi all, this is Jeff Tang and I’m proposing to join as a Boule Member via recommendation from my friend Ashwin (Dragonfly). Quick intro-- background in high frequency centralized trading in crypto and non-crypto. Started at Getco Chicago/Singapore trading options and fixed income before launching my own tradfi HFT shop that focused on Asian markets and later transitioned to contributing to a large trading market maker in the crypto hft space that started in the early 2010s. I’m also a Defi enthusiast and enjoy investing as an angel in defi protocols. I have participated in many of the protocols discussed in this DAO and other defi farms over the past 3 years, and my area of interest is in algorithmic stable coins (was both a seed investor in the original Basis, participated in the later anon Basis Cash) and financial engineering (Lemma, Ribbon, Tokemak among others). Looking forward to learning and sharing with the community.
Welcome Tang!
Curious what do you think about Tokemak? They also have this vision of procuring liquidity for good defi projects.
I like:
- Double black hole nature of both the stake-to-vote-and-earn for TOKE and deposit for DEFI Project.
- Auto-rebalancing for TOKE across all projects on the vote side to balance rewards for TOKE staking and re-balancing of rewards to incentivize pro-rata participation on the DEFI project side.
- Forcing the TOKE tokens to essentially vote continuously to earn in staking, optimizing utility
- Fractal team is solid, my ex-colleague from Getco Silvio V. is their head of trading and ops
Things I don’t like:
- suboptimal voting-- if you look at the voting choices, some projects like Compound shouldn’t be candidates as their governance token is suboptimal for defi farming.
- Reward/Penalty for getting it wrong: there’s no dis-incentive for performance and some pools can underperform by quite a bit.
- popularity contest nature. I’m in the TempleDAO discord and it’s obvious that resources must be spent from the project side to gather enough votes on the Tokemak CORE.
Welcome Jeff! Glad to have you on board
Welcome Jeff, think you’ll be a great fit for the boule
hi @jytang
Welcome!
Jeff will replace Ryan Kim, who was voted in as boule member in the original vote. Ryan Kim dropped out because he did not have enough the time to spend for this. Currently we have only 28 Boule members.
I propose to let the boule members vote about adding Jeff as a replacement member by simple majority vote. If this is declined, which I don’t think will happen, we will propose Jeff as a replacement member for the regular vote for new members after the first cycle. (Ending Mid Jan 2022)
After the first cycle we will review each boule members presence and asking non engaging members to leave and make a general vote for the new boule candidates.
Welcome, Jeff! @jytang can you share more about what farms you might recommend Aladdin DAO participate in?
I think a few issues we’ve been challenged with as you consider what you might recommend are:
- Proposing more complex strategies than our community can understand
- Understanding the urgency to implement farms vs the bandwidth we have available (we’ve discussed prospects of non-EVM chains recently, ie Solana, which isn’t as easy as EVM-compatible chain integrations)
- Staying focused on the mission, in light of the new tokenomics–there’s been suggestions we could build some new products which I would anticipate will also take more time than we can afford to spend.
Or feel free to share who you envision to be the Aladdin community power-user!
A little bit off-topic:
We internally discussed that we should take the project proposed by boule members into the reward calculation to make sure we get enough quality. I would suggest that if a project is not voted in that this will reduce the reward of the person suggesting that project. For now we go with what we have, but I think we should make a 1-2 weeks break between the cycle and adjust things.
As we move away from the farm only approach we will have more freedom in the future, but still will not integrate too new, unproofen projects and project on other chains.
This is amazing! Thank you Jeff!
When/if you have time, would love to get your view on DAOs like TempleDAO. These popularity contest nature seems to be a must-have for defi protocol these days.
Hi defi_dad,
Much thanks for pointing out the issues to guide my response. Some of my suggestions have already been voted on/proposed/covered, but these are defi farms I believe to hold long-term value and worth participating in:
- Ribbon Finance
- Goldfinch
- Tokemak (somewhat competitive with AladdinDao)
- SushiSwap
- Maple
- Abracadabra
- Convex
- Harvest
- Notional
- Lemma
And a few others outside of scope:
- Anchor (LUNA)
- Apollo (LUNA)
- VVS (CRO)
- O3