CoinStats - BUIDL-Weekly: 06MAY24

BUIDL-Weekly: 06MAY24 - 12MAY24

2y ago•

Spartan Protocol

bullish:

bearish:

The proposal to assess support for the community fork has achieved considerable success. Over 66.66% of the entire DaoVault LP weight participated in the on-chain vote, indicating substantial backing for the general direction of the community fork plan (refer to the pinned message on Telegram for further details).

This indicates that the majority of LPs endorse the plan and are willing to migrate to the eventual protocol that emerges from this direction. Furthermore, it suggests that the BUSD-related funds can be made available in the treasury for development and auditing, contingent upon a well-defined plan and builder KPIs. Blind leaps are not an option and wouldn't be fair on the LPers who entrusted their monetary weight to vote this forward.

Next step involves confirming developer support and ensuring we have adequate manpower to execute the plan within a reasonable timeframe. Following this, would be good to see an outline of a more public strategy released.

Additionally, time-debt tasks such as monthly web analytics reports should be wound down progressively. Once a GitHub repository is established and progress on the community fork is initiated, we may even transition from these weekly updates to release notes on GitHub. Regardless of the format, transparency and accessibility will be important to justify discontinuing these weekly updates.

Subgraph Sunset

Some of you may already be aware, but the public hosted Subgraph service was announced to be sunset some time ago, and the D-day is finally upon us (expected next month). What does this mean? We'll lose all our cherished historic data, such as:

The TVL + swap volume historic charts: We'll only have access to current TVL afterward. We might explore feeding in historical TVL from DefiLlama, although this might require coordination to log data from the blockchain directly.
Pool APYs: We'll lose all historical data, making it challenging to reliably calculate APY based on past performance. We can, however, consider replacing the DaoVault APY calculation with something based on DaoVault variables, which may offer more accuracy from certain perspectives. However, swap-revenue-based APY data won't be possible anymore.
Pool volume data: This will not only impact the pool tables in the DApp but also our API feeding data to CG/CMC. We may lose our SP DEX listing there, but we can explore reaching out to DEX-listing apps like DexTools to ensure our DEX data remains available (potentially an overall improvement)
Positions page in the DApp: This page relied entirely on Subgraph data, and there's no feasible way to replicate it without the Subgraph. No mitigation is planned for this; we'll simply delete the page from the DApp entirely.
Historic token price charts in the swap page of the DApp: While we could potentially feed in data from sources like CG, the primary purpose of these charts was to display internally derived token prices from our pools. Hence, it's likely we'll delete these entirely.
Liquidity/pool assessment charts in the DApp: Unfortunately, this useful tool relied entirely on the Subgraph, so it will also have to be removed. Assessing a pool's viability will become more challenging without it, but it's a problem we'll try to address when the community fork is live and new DApps/interfaces handle this centralized-leaning stuff.

This provides the context we need to prioritize addressing these issues this month so we can shift focus to the community fork thereafter.