Snapshot voting: Snapshot
This proposal is about integrating Liquity to Akropolis platform and the first stage of frontend optimization to ensure higher loading speed and smoother frontend work.
In our opinion, adding the Liquity protocol can be a win-win solution for both AKRO users and the team itself. It would not require a lot of work, since Liquity provides all the tools to implement this solution.
What is Liquity?
Liquity is a decentralized borrowing protocol that allows for interest-free loans secured by ETH.
Liquity favours various frontends instead of one. They provide the SDK and Launch Kit for its deployment to other teams, who in turn earn commissions from users’ transactions with the protocol. The teams that deploy the frontend are called Frontend Operators. A list of reliable operators can be found on the LIQUITY Foundation website. Each operator chooses what percentage of users’ commissions to keep - this percentage is the operators’ income. On average, frontend operators take 1% of all transactions at their site, but there are also those who have 0% and 5% commission.
The overall TVL is around $577 million.
Akropolis’ motto: DeFi yeld on autopilot.
Becoming a frontend operator, Akropolis provides users with a few buttons to get yield by providing liquidity to the protocol:
- Secure Liquity by providing LUSD to the Stability Pool. Earn liquidation gains (in ETH) and LQTY rewards.
- Stake LQTY to earn the fee revenue paid for borrowing or redeeming LUSD.
Users can get LUSD by opening a Trove (borrowing LUSD by providing ETH) or getting LUSD on Uniswap.
What is the benefit for Akropolis?
Akropolis platform can earn commissions for providing access to Liquity through its frontend - starting from 0.1% of the loan issuance fee.
To incentivise users, The Frontend Operators may set a rate between 0 and 100% that determines the fraction of LQTY that will be paid out as a kickback to the Stability Providers using the frontend. If a frontend set the kickback rate to 60%, their users would receive 60% of their earned rewards while the frontend receives the remaining 40%.
Read more here.
- Creating a module for interaction with the contract;
- Form for creating and closing a Trove - a layout and connecting logic;
- LQTY staking module;
- Stability pool module;
- Transaction History;
- Token cards for the yield calculator page;
- General information about the protocol + information about the user’s balance, etc. within the protocol;
Adding a proxy service that proxies requests to the node, collects them into sets of 10 and sends them out, with the research of possibility to use various Alchemy keys.
In our next proposal, we will also add optimization through introducing backend for frontend operations, which will increase the loading speed and allow for various improvements and features on the frontend side.
Time needed: up to 33 working days for Liquity integration and 4 days for frontend optimization; around 37 working days in total.
Total Costs: $9065
- FOR: Integrate Liquity and start frontend optimisation.
- AGAINST: Do nothing.