Yapeswap Weekly Update — September 8th
Since the last update, Yapeswap has suffered a loss in TVL — at time of writing, TVL sits at $534, 981, down from an all-time high of $3,168,071.
Regardless of the protocol’s current TVL, the core team is still hard at work refining v1, building the Yapeswap community, and preparing to launch v2.
Since the last update, there have been 11 Yapeswap Improvement Proposals posted in the forum, and 6 YSIP’s were pushed to snapshot votes, 2 of these are live at the time of writing with 2 days remaining to vote.
The YSIP’s that passed snapshot votes were to approve funding to hire an analyst to create a Dune Analytics dashboard for the protocol, hire up to 3 full-time contributors, twitter marketing, and to add new pools to the protocol. The log of snapshot votes can be accessed at the link below.
The new pools, which will be deployed this week, have come shortly after Yearn.Finance’s release of new single-asset DeFi token vaults. The new pools will provide opportunities for holders of SNX, LINK, SUSHI, 1INCH, and AAVE tokens to provide capitally efficient liquidity thank’s to Yearn’s new asset vaults for these tokens.
The 2 live proposals are for DAO approval to hire 2 full-time contributors to continue driving Yapeswap forward. These contributors are being proposed as a developer and ‘operations/biz dev+community manager’, respectively. Both of the would be new hires are initial contributors, and were approved by the hiring committee, which was comprised of the rest of the initial contributors.
Yapeswap v2 remains in the planning phase, but more details will emerge soon. The team is exploring options such as building new strategies on existing AMM’s and creating an approach to build on a Layer 2 solution.
The Lucy and Titus NFT project is getting very close to ready for release. The NFT’s will be minted using the ERC-721 standard. The smart contracts are still in progress, but the and the team is now working on the specific details of the release.
The team is also pursuing a partnership with Fraktal.io, a DAO whose mission is to leverage fractional NFT’s to create revenue streams. In this partnership, Yapeswap and Fraktal would work together to create liquidity pools on fractionalized NFT’s. The proposal outlined in the Yapeswap forum would allow users to create ETH/Fractional NFT’s (ERC-1155 Tokens) on Yapeswap’s platform, where the LP earns the 0.3% swap fee, and both the Yapeswap and Fraktal DAO’s would be able to vote to provide additional $YAPE or $FRAK emissions/rewards to specific ETH/NFT pools. The link to the forum proposal is provided below.