Weave Financial - Yield Farming Strategy Builder - HackaTRON Season 4 - TRON Grand Hackathon

Project Name: Weave

Project Track: DEFI

Team Name: Weave

Team Member(s): 5 Team Members, 3 co founders, VP of operations and 1 developer

Dorahacks Project Link: Weave | Buidls | DoraHacks

Project Goal:
Weave has ambitions to become one of the largest protocols in DeFi. By bringing together so many aspects of DeFi in one place (chains, dexs, lending/borrowing, bridging, insurance and more) we want the name Weave to be synonymous with yield management. If someone is looking to earn yield, we want them to immediately think of Weave as the place to go to manage, enhance and automate it. We aim to achieve this by delivering tools that don’t exist anywhere currently, as well as having one of the most robust marketing approaches in web3, combing the best of web2 AND web3 marketing practices to attract millions of users. TVL is a key metric for us, and in addition to attracting new users directly to our platform, we aim to rapidly grow our TVL through our Tailored Solutions partnerships, which will give us access to the TVL of some of the biggest protocols in defi. Our projection for growth is that the TVL for weave hub will have $1B in 3 years time.

Project Info:
Nothing exists like Weave right now. This is a totally new way to manage and optimise yield. This can bring users to DeFi that want to use these tools and also keeps users in multiple ecosystems that offer such powerful tools all in one place. DeFi has grown exponentially in the last few years, however, the technology currently available is not user-friendly or capable of customised automation. The industry is crying out for our DeFi management tools! Weave unites all integrated protocols into one platform and hugely decreases the time a DeFi user spends managing their yield earning portfolio. We are also opening the door for newcomers to the space with our intuitive copy-farming gateway, whether these are retail or institutional users, paving the way for us to support millions of users on our dapp.

We have a draft version of our white paper here, this is subject to change,
Weave Whitepaper 2.2.pdf (438.3 KB)

This video which showcases the true power of V2 of our dApp. Weave V2 Demo (Private) - YouTube

Project Website: https://weave.financial
(access to V2 of our BETA on request)

Project Repo:

Access to Github via signed NDA

Project Test Instructions:
Join the Weave Discord and request access to the Beta Environment, Weave V2 Testnet.

Project Details:
WEAVE is a next generation yield farming platform that offers a smart contract builder, delivering an exciting new way for DeFi users to enhance, optimise and automate their farming like never before.
Description
Much more than just an auto-compounder, WEAVE HUB brings all of DeFi together in one place, allowing our users to yield farm on a wide range of DEXs on multiple chains, with lending and borrowing and even bridging all being available for use within a single farming strategy. This provides our users with unprecedented amounts of control over their strategies saving them time and increasing yields at the same time.

Our protocol is also being launched as a SaaS product (Weave Tailored Solutions), giving other DeFi protocols and their users the ability to benefit from our farming automation and compounding tools right from their own dapp. This delivers a great deal of benefits to these protocols including increased customer loyalty, higher TVL, higher APRs, more use cases for their native token, and more revenue.

We highly recommend watching this short demo video to get a better understanding of our project - Weave - Infinite Possibilities. The Best DeFi Project Of 2022? - YouTube

Yield farming can be complicated and overwhelming for new users - our drag and drop strategy builder is incredibly user-friendly even for beginners. For those that don’t want to design their own strategies, they can copy the strategies of other users. We also have Weave Academy for educating users. Our Discord and telegram communities are also extremely good places for absolute beginners to learn and get support. This is very important because new users are entering the sector all the time but are being turned off by the complexity of understanding yield farming. Describe your project, please be as detailed as possible. If your proposal is technical, please include a high-level description of the technical specification. Include links, videos, websites, and any other resources you’d like us to know.

Our tools will allow 100% customization and automation of yield farming. This saves time but also allows for yield to be enhanced in many different ways that currently just aren’t possible (compounding, lending/borrowing, swapping to high yield LP’s with yield all within one strategy to name just a few). This is far more advanced and customizable than the existing auto-compounding protocols and offers ways not just to automate but to potentially significantly enhance yield in ways that just isn’t possible with any protocol right now. Compound, swap, leverage/lend, enhance, automate, bridge, all in one place!

Our WEAVE HUB community is split into PRO users (experienced yield farmers) and PASSIVE users (those that are new to DeFi, or simply want someone else to build quality strategies for them). Pros have the opportunity to share their strategies with Passive users, earning a share of platform fees for doing so, making it ideal for institutions, influencers and experienced farmers alike.

Our New addition/feature of the Weavey Bot (Similar design to Clippy from Microsoft back in the day) allows new users who are not accustom to the DeFi/Crypto space to adapt and learn whilst they use our dApp, by simply hovering over specific areas to receive a description / instruction on what to do next.
Go to market strategy
Secure funding to expand team and raise market awareness in 3 areas;

PRO USERS
-Influencers, Experienced yield farmers
-Social media & outreach
-Chance for influencers to earn significant fees from their audience. Pro Yield
Farmers get more ways to customise strategies than ever before.

PASSIVE USERS
-Influencer audiences, traditional investors (stocks, bonds etc)

-Affiliate networks, traditional media, organic search, Referral program (word of mouth).

-Potentially better returns than traditional investments. Copy farming makes entry much easier. A
more welcoming environment for beginners.

INSTITUTIONAL
-Whales, family offices, corporates, CeFi
-Outreach & Events Low fees & security of protocol.
White label API for CeFi website integration. Easy to bring clients in a earn fees.

We have 3 core offerings, each with a slightly different revenue model.

WeaveHUB - this is our main dapp and here our primary revenue stream is to take a % of yield earned for each user (performance fee). Fees range from 2-9% depending on how much $WEAVE token is held and also whether they are a Pro or Passive user. We also take a small controller fee to cover some gas costs.

Weave Tailored Solutions - Here we charge an initial setup fee plus a monthly license fee, payable in the Weave token. We also get a small share of the performance fees.

WeaveSwap - Our dex aggregator will be fully integrated into our dApp to allow us to earn small margins on each swap. It will also be its own standalone dapp.

In addition to these core income streams, we will also have various secondary revenue streams from our partners such as share of insurance fees, bridging fees, lending/borrowing fees etc.

How we are different!

  1. 100% customizable strategies for all users (strategies will be as unique as the person creating them!)

  2. Our scope for launching not just our own dapp but integrating into other protocols is something that has never been done before

  3. Creating smart contracts for each user rather than new vaults/pools is not only more secure, it also makes Tailored Solutions far more appealing to existing DEX’s because this can perfectly sit alongside their existing pools and simply allow users to automate the way they farm from their existing farms

  4. Doxxed team members and transparent and committed to long-term development.

  5. Established youtube channels by team members, therefore user-oriented content and Weave Academy resources for new defi users.

  6. Drag&Drop strategy builder, therefore zero coding experience is required to build even complicated strategies

  7. Your own strategy, your own smart contract! Therefore, no one else can touch your funds. You can even create multiple strategies, each one creating it’s own secure smart contract.

  8. Copy Farming and education/support available for absolute beginners. We’re extremely noob-friendly!!

  9. No-one else has a white-label strategy builder solution which projects can utilise this easily. Utilising token of projects etc. And increasing Weave usage and therefore integrated protocol usage and exposure:
    Weave Tailored Solutions - Integrated as a bolt-on service to and project/protocol, this is an out-of-box solution for adding 100% customizable farming to your platform. Importantly, the tool does not create new vaults. Instead, our solution provides users with their own smart contract directly into your existing vaults, meaning it can be integrated into any platform seamlessly and therefore significantly enhance the user experience whilst generating more fees. Although our protocol has many features, it can be customised to offer exactly what is needed for a platform.

By integrating the TRON network and its major DEX’s into our dApp the benefits are infinite!

Weave’s highly innovative strategy builder will significantly improve the user experience for both experienced and new users in the DeFi space. It will allow for all users to interact with projects such as Just Lend with ease and provide huge time savings whilst providing an excellent source of passive income. With JL we can enable both pro and novice users to save using their preferred asset (for example, ETH or USDC) but farm using alternate asset strategies (for example, MATIC or DAI). This will introduce new retail suppliers and borrowers into JL who will be borrowing to participate in DeFi.

We expect significant onboarding of Stablecoins via our Fiat gateway when it launches later in the year, and will be revolutionising the space through the introduction of cross-chain DeFi strategies through our partnership with Biconomy. Integrating their smart contract functionality will also allow users to complete a 1-click sign-in process as they would do in the Web2 space, where our platform will automatically create a secure smart contract wallet which is associated only with their Web2 account. Weave will be able to integrate TRON long term across multiple chains and give the platform users full choice over how they utilise Just Lend’s lending and borrowing functionality.

Integration of SocialSwap and its farms will also bring a significantly increased number of transactions/swaps over to the TRON network and increase TVL for the whole ecosystem. On top of this we can also a number of whitelisted tokens on the TRON network to our DCA/Swap function on the strategy builder, including the TRX token.
This will enable users to not only create strategies on the TRON network, but enable them to DCA into the TRX token (or others they are bullish on) at the end of their strategy. Increasing buying pressure and ultimately increasing the price.

Telegram ID:
@jaackersss

Smart Contract links: [Link to smart contracts if applicable. Can either be on TRON/BTTC testnet or mainnet]
As we have not yet deployed to TRON, we can provide these at a later date.

Project Milestones:

  1. Integration of TRON Network to Weave dApp: The first milestone is to integrate the TRON network into the Weave dApp, allowing users to access TRON-based DeFi products and services. This integration will allow Weave users to leverage TRON’s high-speed and low-cost transactions to earn yield on their assets. With the integration, users can farm TRON-based tokens and utilize TRON-based lending and borrowing protocols. The integration will also help expand the TRON ecosystem by attracting more users to the platform.

  2. Integration of SocialSwap DEX and Farms into the Strategy Builder: The second milestone is to integrate SocialSwap, a decentralized exchange and farming platform, into the Weave Strategy Builder. SocialSwap offers users high APYs on their investments by providing liquidity to various DeFi protocols. By integrating SocialSwap, users can easily create strategies that incorporate SocialSwap’s pools and farms, providing a wider range of investment options. This integration will increase user engagement with the platform and provide access to a growing DeFi protocol.

  3. Add TRX token to our DCA/Swap function on the strategy builder: The third milestone is to add TRX, the native token of the TRON network, to the Weave dApp’s DCA/Swap function on the strategy builder. This feature enables users to automatically buy TRX at regular intervals or swap their existing assets for TRX, making it easier for users to accumulate the TRX token. As more users start to accumulate TRX, there will be increased demand for the token, leading to higher prices and increased buying pressure. This will benefit the entire TRON ecosystem by increasing the value of the TRX token and attracting more users to the network.

  4. Integration of the BTTC chain on the Weave Strategy builder
    The integration of the BTTC chain on the Weave Strategy builder would bring several benefits to BTTC users. Firstly, it would provide BTTC users with a new, more efficient way to manage and optimize their yield farming strategies. The Weave platform would allow them to easily farm on multiple DEXs, borrow and lend assets, and even bridge between different chains, all within a single platform.

Furthermore, Weave’s drag-and-drop strategy builder is designed to be user-friendly, even for beginners, and users would be able to easily create, copy, and optimize their farming strategies with just a few clicks. This would save users time and effort while also increasing yields.

The BTTC chain integration can lead to increased liquidity on both the TRON and BTTC networks. With Weave offering yield farming on multiple chains, users can easily move their assets between the two networks and take advantage of opportunities for arbitrage or simply diversify their holdings. This can increase the demand for both TRX and BTTC tokens and drive up their prices.

Overall, the integration of the BTTC chain on the Weave Strategy Builder benefits not only BTTC users but also the TRON ecosystem by expanding the platform’s capabilities and attracting a wider user base to the network.

10 Likes

When it comes to world of Defi yield farming is part of the things that make it lively, I think this is the right step :ladder: in the right direction
Welcome onboard on the Grand hackathon season 4, together we can make Tron great

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Bienvenido a este S4, buena explicación de su proyecto.

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Reading through the forum post i thought you guys were bragging, but after watching the video i said wow, this is absolutely insane and its not done anywhere. Kudos to the team and welcome to this season.

As a fan of yield farming i have the following questions;

  1. How does the protocol ensure users are at zero risk of impermanent loss.

  2. We know smart contracts are full of vulnerabilities and hacks and we have witness hacks occurring to drain users funds from the platform, how well can you convince me that is not the the case in weave.

  3. Also is there an option for the PROS to create and sell their strategies to Newbies whiles also enjoying from the transaction fees.

Thank you. This is a dapp i will definitely enjoy using

4 Likes

The concept is quite cool. I love apps that make complex things look simple. I have one concern though: did you consider the contract deployment costs for the user? Tron is still a great blockchain from the technology point of view, but it’s not a low cost blockchain anymore.

Good luck!

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I like the concept that you choose… Good luck !! :100:

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Welcome to season 4 !! Good luck :dizzy:

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Welcome to Forum :handshake: feel at home

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Hey Guys thanks for the feedback so far! I will be answering your questions. And also I will be editing this post as stupidly i have not followed the Hackathon template requirements. Apologies for this, obviously details will remain the same just need to edit it around a little!

1 Like

Thanks for your feedback and questions! its much appreciated!

We would really like to come across to TRON and we think that what we are building will benefit everyone in DEFI!

To answer your questions,

  1. Impermanent Loss is one of the biggest problems in Yield farming and we have ensured that only whitelisted LP farms and Tokens are integrated into our strategy builder. This stops influencers from becoming a PRO user and just shilling a shit coin making their profit and exiting.
    We are also in the process of building a compound/IL calculator which wont prevent users suffering IL, but will guide them on certain risks.

  2. This is one of the main development ideas we were concerned with when building our strategy builder, when a user creates and deploys a strategy the “smart contract” is then created and owned by the user and is completely automated. We do not have any permissions over these contracts and they are owned by the user.

  3. There isn’t an option to sell their strategy however, PRO users can “Share” their strategy so that other Passive users can the “Copy and Deploy” (like copy trading) the PRO users strategy, part of the fees and profit generated will then be shared to the PRO user who first created the strategy.

We are currently running a BETA version if anyone would like to come and join and give it a go, the instructions are in our discord link below!

Look forward to helping you build your strategies!

Just an FYI, we aren’t currently on the TRON Beta network,

3 Likes

Thanks for your question!

One of our biggest priorities is making sure that users are making money!
Our devs are constantly optimising the backend code to make sure that deploying smart contracts is the cheapest it can be.
I hope this helps!

2 Likes

Yield farming is one of the best things about DeFi, promising stuffs you outlined reading thru but I’ve a few questions;

How does the platform plan to ensure the security of users’ funds and assets when using custom yield farming strategies?

What kind of fees does the platform plan to charge for using its services?

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Hi Manfred!

Thanks for your question!
Through continuous auditing and code reviewing per integration into our protocol this will ensure the least amount of risk when it comes to creating custom yield farming strategies.
I have also edited the above to include the correct templates and draft whitepaper is also included to answer regarding fees for PRO’s and passive users.

Also mentioned above regarding smart contract ownership if this helps too!

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Thank you for the clarification on the security measures and fee structure. To strengthen my excitement over the project further, I’ve a few more questions;

Can you provide more details on the specific auditing and code reviewing processes that you plan to implement? How frequently will these be conducted, and who will be responsible for them?

How will users be able to access the PRO features and what kind of benefits will they receive in comparison to passive users?

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Thats very nice, but i want to know if this can also be considered and integrated into your smart contract.

We know projects that perform all the auditing there is to perform by reputable auditing firms in the game but eventually projects are able to scam and rugpull its users.

This brought about a project called lossless.io which when integrated into your protocol can help detect a scam or rugpull and help prevent it even before it happens.

I hope you have the time to check it out and see if it is possible in your case. Thank you

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Thanks for the suggestion will definitely take a look at this!

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No worries at all! Ask away!

Firstly, We plan to have smart contract audits for all our own contracts along side pentesting our backend code. For the frequency we plan to audit our smart contracts as quickly as possible. if changes are done to the contract we of course plan to re aduit them. for the pen testing of our remaining code base we plan to do this on a regular basis. as who is going to be responsible we are in discussion with a few partners and have not decided on anything particular one yet. the best solution would be someone who can cover everything we need but we will go for multiple ones if needed if it means we can cover everything.

Secondly, as our tokenomics are not finalized yet, we can’t say exactly for sure. However, a potential use case would be for users to either hold or stake a certain amount of our native token to have access to the entire site and its features. For example, all users, whether Pro or Passive, would have access to creating or copying one strategy at first. If they hold, let’s say, $100 worth of the $weave token, they can have access to further strategies.

Regarding the pros of being a PRO, this is detailed in the whitepaper under fees (which are shared from the platform). We want to incentivize people who are more involved with DEFI and who are helping others who aren’t quite at the level to create their strategies. However, we do not want to limit whether a passive user can create a strategy. Therefore, currently, there is no restriction, and anyone can partake in creating and using our dApp.

hope this helps!

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Thank you so much bro !

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You are highly welcome :handshake:

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What are the tasks to be done to become a pro user?