yLockers Budget Request 6

[dudesahn]

Scope

The yLockers team will oversee...

• yLocker products (yCRV, yPRISMA) including YBS and auto-compounders
• yTreasury veToken positions and veBOOST
• yLocker data tools (crv.lol, prisma.lol, ybs.wavey.info)
• yFactory (V2 Curve, Velodrome, Aerodrome, and Balancer vaults/factories)
• veFarming strategies (new)

For more technical details, see here.

Plan

Far from entering any sort of "maintenance mode", this upcoming quarter is set to be one of the busiest yet with active development required for a range of opportunities.

1. Several protocols, including Napier Finance, will be rolling out new veTokens
2. yLocker's new "veFarming" strategies are ready to begin with several initial opportunities already identified.
3. The possiblity of creating new V3 yFactory vaults to be explored for eligible protocols.

The yLockers team are committed to increasing their overall profitability by: growing their current products, expanding their product range, and adding new revenue streams.

Deliverables

The following deliverables will be met as part of this plan. All actions taken will be in yLockers' sole discretion.

• Continue yLocker and yFactory product operations/development
  • Ongoing weekly tasks.
  • Optimization of vote incentives.
  • Product marketing.
  • Secure yCRV as collateral with partner protocols.
• Continue building and improving yLocker data tools
  • Particular focus on crv.lol and ensuring transparency and accuracy across the entire veCRV ecosystem.
• Evaluate potential new yLockers
  • Four protocols (including Napier) are currently being evaluated using the framework set out in the previous budget request.
• Increase TVL in yFactory vaults
  • Finish cross-chain veBOOST fix for Curve vaults.
  • Use short-term incentives (rewards/offers) to attract new users.
• Begin veFarming
  • First veFarming strategies to go live and reach profitability.

Deadline

2024-11-01

People

yLockers Core team; consists of wavey and dudesahn's single-member LLCs

Money

• This budget request covers the 3 months of Aug 2024, Sep 2024 and Oct 2024.
• The amounts below are the per month compensation request.
• Not anticipating to require any funds for audits or UI/UX work this quarter.

Monthly Expense	USDC
Core Contributors	40,000/mo
Nodes/Hosting/Cloud services	280/mo

Revenue

• yCRV (st/lp-yCRV), veCRV (excl. non-tokenized): 2.5x 🔵
• yBAL: 6.25x 🔵
• yLQTY: 6.25x 🔵
• yPRISMA, vePRISMA: 6.25x 🔵
• veVELO, veAERO, veRAM: 6.25x 🔵
• veFarming: 8.75x 🔵

Note: All revenue is directed to split contracts not deployed by yLockers.

Amount (Total)

120,840 USDC, as yvUSDC-1

Wallet address

0x4444AAAACDBa5580282365e25b16309Bd770ce4a

Reporting

Once