APP-003 – Community Approval for the Development of An Automated Ample Lending Application That Would Be Integrated With Yield Credit
APP-003 Status: Voting Closed (Vote Result Here) – APP-003 Approved By Community
Idea Incubator Discussion Related to APP-003: Click Here
APP Summary: APP-003 is related to developing automated lending and borrowing functionality for Ample by integrating with the Yield.Credit application.
Yield is unique because it provides incentivized, individualized lending and borrowing for all assets available on the platform. It will be the first application to make collateralized borrowing and lending with Ample possible.
Overview: The DAO plans to develop a smart contract and interface (housed on our upcoming platform, EeFi.Finance) that:
1. Automates lending and borrowing specifically for Ample on Yield 2. Increases the borrowing limit: Borrowers would be able to take out Ample loans for more than $50,000 via the platform.
Rationale: Developing an automated lending and borrowing application integrated with Yield would have the following benefits for the DAO:
1. The DAO would generate fee income from the application 2. The lending platform could accelerate the DAO’s elastic vault strategies 3. The project aligns with the DAO’s purpose of expanding the ecosystem of use cases for Ample
Idea Incubator Discussion: The Idea Incubator discussion related to development of the automated lending and borrowing integration with Yield Credit was highly positive, with community members supporting this initiative.
Implementation and Deliverables:
We estimate the lending and borrowing application would take about 2 months for implementation, review and launch, depending on the status of other DAO initiatives.
Key deliverables will include:
-Smart contracts -Front end UX/UI (housed on our upcoming EeFi.Finance platform)
Contributors: The DAO leadership team will implement borrowing and lending automation platform.
Budget Request: DAO Leadership is requesting a budget in the amount of approximately $20,000 – $25,000 (plus or minus 10%).
Timeline: Activities related to the borrowing and lending automation project will take place between March to May/June 2021.
This discussion was modified 2 months, 1 week ago by davoice321.
This discussion was modified 2 months ago by davoice321.