Farmtopia

Farmtopia is a high yield savings account that's backed by blockchain technologies. It provides a familiar and simple to use interface that obfuscates the technicalities and complexities of yield farming while returning the user an optimized and competitive yield on their deposits. In the backend, Farmtopia aggregates the top yielding cryptocurrency liquidity providing strategies and autonomously moves into the highest yielding option while minimizing risk through the use of stablecoins.

An automated interlacing of all yield earning opportunities packaged into a service; provided as Crypto Fund Management. Interconnected via Smart contracts.

Example: stable coins automatically moving across AAVE, Compound, etc depending on current rates. Then the LPs being contributed to a pool/staked/sold to maximize yield. The UI is simple. Simply deposit USD and Farmtopia handles the conversions on the backend.

Problems

• Cumbersome nature of having multiple Yield Farming tabs open, time-intensive process of inputting numbers into different yield aggregators (uni, 1inch, sushi).

• Crypto Tx fee’s are incredibly volatile. By the time a comparison is made across tabs; gas fee’s on different yield aggregators will have changed.

• Yield Farming requires active management; people are busy, no one has time to research yield farming websites let alone compare between them.

• General stigma surrounding crypto.

Solutions

• Provide people with one button to enter into the Farmtopia smart contract.

• ‘fDai Smart Contract’ allowing for users to deposit ETH and be guaranteed a set-and-forget return.

• Provide a simple UI for hesitant crypto users to onboard with.

• Stablecoin leverage offered only; speaks better to the nervous masses. Provide graphs of API performance, API updates graphs every 15 seconds.

The user interacts with a simplistic UI. https://farmtopia.vercel.app/ in order to Withdraw and Deposit stablecoins. On deposit, the user is minted a fUSD token (Dai -> fDai) to track he's ownership of the pool.

We then have a rebalance function which bridges the L2 funds into an L1 contract that distributes the funds into the highest yielding lending protocol available at the moment of rebalance. 10% of the funds stay on Layer 2 for instant withdraw

In Layer 1, we generate a pool for interest-bearing tokens that begin to generate yield for the underlying pool.

Every 4 hours, we rerun our rebalance method to keep liquidity available in L2 for fast withdraws and shift our pool on L1 to the highest yielding lending protocol, allowing us to float on top of the market.