- The cooperative will allocate $1million in treasury funds to be used in successfully registered yield farming strategies using the 'Safe Farming' Curate list.
- These will be used to generate yield for the cooperative and returned after the three month strategy period is over.
- 10% of the yield will be given to successful strategy submitters for the first 3 months of strategy use.
- We'll execute the highest yield strategies deemed not [too] risky and do not require exotic assets (Random un-audited 27 minute old vegetable tokens for example).
The yield farming meme is a literal runaway train of innovation right now and without trying to 'jump on a fast paced bandwagon' we've come up with a great way to use Kleros Curate and offer users a low risk reward for their well formulated farming strategies.
Cooperative Kleros hasn't rushed in to the farming craze (we can't speak for individual team members, ofc) in order to do careful due diligence and consideration on any use of cooperative funds. As such, we believe this use case could become a viable layer in providing new, and seasoned users alike with an extra layer of security whilst interacting with more exotic DeFi sectors. This is especially underlined by the emergence of the 'rug pull' within common community sectors.
Hopefully, by creating this farming strategy, we can both increase the user interest toward higher quality projects whilst steering inexperienced users clear of the portfolio bruising rug.
Kleros Curate has a powerful feature set which can be used as a 'decentralized vetting' platform giving anyone (or anything) the ability to employ a hive-mind of 'vetters'.
The farming craze may or may not sustain for the long term, but it's clear from the success of the various projects that this segment of the DeFi ecosystem is here to stay.
With that in mind, why not use Curate to create a high value farming strategy backed by equally high value submission deposit? We'll put our money where our mouth is and provide $1million of Cooperative funds available for yield farming successfully registered strategies.
Projects and protocols often provide rewards to people using them. However, some malicious actors can take advantage of the hype to release contracts marketed as “yield farming” opportunities which in turn, can allow them to steal deposited assets.
As DeFi protocols become more and more complex, it is also hard for users to understand exactly which risks a particular strategy can bear.
Quick Strategy Check
This registry serves two main purposes:
- Verify that a yield farming strategy is legitimate as opposed to a fraudulent scheme that allows creators (or anyone else) to steal deposited assets.
- Verify that all the risks of a strategy are clearly disclosed.
Note: With the current speed of the yield farming ecosystem, it isn’t possible to be both up to date and completely safe. This registry tries to compromise between those two objectives by requiring a high deposit but with a short challenge period.
- Head on over to Curate and select the 'Safe Farming' list.
- Read the criteria carefully and confirm that your submission fits into the policy.
- Submit with the correct information as shown in the image below.
For queries or general moral support, join our Telegram and happy farming!
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