Design and structure of Goblin Gold
We are building yield aggregating vaults that aim to optimise yields of deposited capital through strategies integrated with multiple DeFi protocols. We aim to build strategies of differing risk appetites and integrate cross-chain token assets.
The process is to select a desired strategy that suits your risk appetite and within that strategy, choose your asset which you would like to deposit in. Deposits and withdrawals are governed by ggToken.
Key design principles of our architecture includes:
↳ APY calculation runs on-chain and these on-chain data will be released to public soon.
↳ Instead of the common UI-derived APY, we track the on-chain APY.
↳ Our strategies & vaults run on smart contracts capable of auto-rebalancing and calculating the best yield for users.
↳ Peer reviews are happening along the way while audits will be happening soon!
↳ We pride ourselves on being community first. Without VC fundings, IDO tokens will be available for retail investors.
↳ Hence, with the governance tokens in the hands of our community, Goblin Gold can function as a DAO. Future strategies and vaults will be decided by the DAO.
The current assets that we support to deposit/withdraw are SOL, MSOL and USDC.
Future integrations with other SPL and non-SPL tokens are planned.
When you deposit, your position will be tokenised. In return, you will receive a ggToken which represents your shares in the vault.
As the rewards generated by the strategies are accrued, the value of ggToken tokens increases over time.
When you withdraw, your ggToken will be burned and you will receive back your deposits plus the rewards.
At the beginning of our protocol, we aim to develop the strategies within the team, that rely on a variety of Solana DeFi protocols that generate returns for a series of vaults.
As we approach a DAO structure, we aim to be open source and allow strategies to be DAO-suggested; and our team will build it for the DAO.
Adding on, our strategies should benefit from multiple sources of return drivers.
- Liquidity mining rewards can be attractive but unsustainable over the long run.
- Lend/Borrow rates can be sustainable but volatile and market dependent.
Essentially, we believe that there is NO 1 GOLDEN BULLET. Hence, we should strive towards multiple strategies that integrate with different return drivers to maximise risk/return ratio for our users. Eventually, the process should transit to the hands of the DAO, as token holders recommend and vote on varying strategies to be implemented.
Vault assets deposits and withdrawals are auto-rebalanced into the DeFi protocols that are in the selected strategy.
Details and analysis of our smart contracts will be released once we get audited and open sourced!