[Grant Application] CGA#33 - OptyFi

Summary:

OptyFi is a DeFi yield optimization protocol that evaluates thousands of yield strategies across hundreds of liquidity pools, dozens of protocols and multiple blockchains. Curve integration will allow automated rebalancing of deposits to optimize yield across all chains where Curve is available.

Summary of Grant Applicant:

Name: Faisal Qureshi - CEO, Financial Engineer
Email: fiqureshi1@gmail.com
LinkedIn: https://www.linkedin.com/in/fiqureshi1
Twitter: http://twitter.com/fiqureshi1

The OptyFi team consists of 7 people, 3 blockchain developers, a front-end developer, a business analyst, and a data analyst. They believe multi-chain DeFi is the future and are positioning themselves to help onboard massive amounts of capital and users into the DeFi ecosystem. They have received funding from Polygon and Conflux Network for development of this protocol.

Project Details:

The goal is to open the door for “optimal passive investing” into Curve. Their vaults will constantly monitor returns of all possible Curve strategies and deploy capital into the most optimal strategies in real time.

OptyFi will also enable deposits of CRV and Curve LP tokens into other non-Curve pools/protocols that allow investors to optimize their Curve assets across DeFi.

They intend to implement a CRV reward vault. As the protocol earns CRV, a portion will be held and locked into a veCRV locker.

Funds will be used to compensate two full-time senior engineers who will commit 6-8 weeks of development timeto complete the initial integration of Curve on both Ethereum and Polygon (multi-chain initially, cross-chain later on). Afterwards, some marketing will be done to publicize the integration.

Post-Grant Plans:

The OptyFi Treasury will be able to sustain the operations and development of the OptyFi Protocol with the revenue earned from fees charged on OptyFi vaults. Additionally, the OptyFi DAO could also decide to pursue various investment strategies and opportunities for earning non-protocol income in order to further grow the Treasury.

Requested Grant Size:

$70k

Relevant Links:

Website: https://opty.fi
Docs: https://docs.opty.fi/
GitHub: OptyFi Protocol · GitHub [*OptyFi Protocol smart contracts are not public yet. The source code can be shared upon request.]
Audit (Coinspect): https://drive.google.com/file/d/12EaSkU8NDFppS3BEGQdj9STm9K5aJ0Bw/view?usp=sharing [*OptyFi smart contracts are being audited iteratively.]
Twitter: https://twitter.com/optyfi
Medium: OptyFi – Medium
Discord: https://discord.gg/kVxKHUEpy8
Deck: https://drive.google.com/file/d/1IcDc04rZGWxQjns2Kqc1UVHO4nkXppCV/view?usp=sharing
Roadmap: https://drive.google.com/file/d/1cdNEKsfouIQnnBDMBCCGwEWJPO-tt7Ux/view?usp=sharing

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Hi All, I’m Ace from OptyFi. We’re building the most sophisticated yield optimization protocol in DeFi.

We’re very excited to integrate the Curve protocol on both Ethereum and Polygon. We believe a successful integration would be mutually beneficial. Our goal is to bring hundreds of millions of dollars in liquidity and thousands of new users to Curve.

Please feel free to ask any questions about our project, team, and proposed Curve integration. I’d be happy to answer all of them.

Thank you.

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