Quid - HackQuest

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Description

Every DAO that exists holds dollars and ETH in its treasury. What is the most carefree way to park these assets?

In light of the protocol hacks we saw with Bunni and Cork, we shipped a simple but neat alternative to both: QU!D is a yield-optimised stablecoin basket that trades against ETH.

The basket has an RWA vault for USDC, and a 6909 bonds mechanism which enables single-sided LP deposits of ETH into Uniswap V4. The pool is boostrapped against UniV3, and has a mechanism for automatic yield compounding and price management. Amp.sol plugs into Aux.sol for a momentum strategy feels like an Allen Iverson cross-over. This is for people who don't care how long their swap takes, in exchange for extra yield.

The basket re-balances the concentrations of its 10 stables based on probabilistic signal from a custom prediction market. The original model for these predictions was inspired by Belgian auctions: participants place bets with a confidence parameter, and are rewarded as a function of that parameter (not only based on how much capital went into the losing side of the event outcome). It's not really leverage, but that's one way to think of it.

Progress During Hackathon

In addition to debugging the core protocol, while adding vaults like BOLD and USYC, we added bridging between AAVEv3 to their upcoming v4, and an exclusive flash loan gate for Bebop. We also built a whole new protocol on top of our basket: it handles a custom prediction market for de-pegs which drives fees (cheaper to swap out dollars perceived to be less stable). Chainlink CRE was connected as a way to make the resolution system for these predictions, which is UMA-based, to run more smoothly with a layer that can validate whether resolution requests are legitimate... THE COMMIT HISTORY CAN BE FOUND HERE: gitlab.com/quidmint/quid

Fundraising Status

We received a micro-grant from Uniswap Foundation for our early exploration into LP optimisation. From a venture funding perspective, we chose a 100% fair-launch model, with some OpEx capitalized into early deposits. The variables responsible for this part, in the contracts Basket.sol and Aux.sol, are called "untouchables"