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YieldNest

YieldNest streamlines decentralized finance (DeFi) with a unified GUI, offering account abstraction, self-custody, and modularity.

YieldNest

Created At

ETHGlobal Istanbul

Winner of

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Gnosis Chain - Best Powerpool Finance Integration 1st Place

Project Description

Decentralized Finance (DeFi) is an emerging field with immense potential to provide transparent and independent financial empowerment globally. However, a significant challenge is developing a trustless cryptographic infrastructure that is both robust and user-friendly. Users typically face the complexity of dealing with intricate public and private key cryptography and various contracts, which can lead to potential errors and risks. YieldNest addresses these challenges by simplifying the user experience, enhancing risk management, and ensuring user privacy and ownership. Our objective is to streamline DeFi interactions by offering a customized, modular interface tailored to individual user needs.

Our strategy involves building decentralized abstraction layers over the foundational decentralized infrastructure. YieldNest facilitates user navigation within this ecosystem, minimizing risks while upholding complete ownership and privacy. We offer a progressive web app that can be easily installed on mobile devices, allowing users to personalize it according to their specific needs. Security and autonomy are our top priorities; we enable users to securely manage their private keys via account abstraction and a registrar system. This method mitigates the risk of a single failure point and provides a level of self-custody surpassing traditional banking systems.

During this hackathon, our goal was to showcase various modules; however, due to time constraints, we succeeded in developing a Dollar-Cost Averaging (DCA) tool with PowerPool on the Gnosis chain. We are eager to advance further, intending to integrate with GearBox and other DeFi protocols, expanding our platform's capabilities and user benefits.

How it's Made

We embarked on a journey with the ambition of developing multiple DeFi modules, incorporating account abstraction in a self-custodial manner, and delivering them through a progressive web app powered by EigenLayer. However, we discovered that the technology isn't yet advanced enough to realize this vision fully.

Consequently, we shifted our focus to a higher-level design of this concept to gauge the progress we could make during this hackathon. We implemented account abstraction, albeit with some bugs, and developed a Dollar-Cost Averaging (DCA) module using PowerPool. We also explored the creation of a leverage module and a leverage protection module utilizing Gearbox.

We encountered several challenges with integrations, which impeded our progress. Moving forward, our aim is to continue exploring ways to enhance DeFi. Our ultimate goal is to create a system governed by the principles of mathematics rather than the dictates of human rules.

Tech stack we used: hardhat, solidity, next js, react js, typescript

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