[Proposal] sAVAX Anchor Vault

Anchor Protocol is attempting to whitelist additional collateral (Anchor), sAVAX. Thus we propose if and once the Anchor proposal is passed, Nexus sAVAX Anchor Vault to be deployed. The team is proposing a preemptive proposal in advancement of the Anchor Proposal for swiftest delivery of the new vault.

Such vault will require frequent monitoring and updates to parameters to ensure the vault yields remain competitive. As such, active participation in Nexus governance is vital, so we propose that some part of the yield should be directed to Nexus governance participants to incentivize their participation as per other bAsset vaults.

If the related Anchor proposal fails to be passed or executed, sAVAX Anchor Vault will not be deployed or executed regardless to the outcome of this proposal as this proposal is conditional.

The smart contracts suggested to be implemented for sAVAX vault would be updated as soon as the whitelist process is completed and the Nexus xAVAX Anchor Vault is deployed on mainnet.

6 Likes

Thanks for the proposal, Shimmy. I am in agreement with the proposal above. Question that I have would be:

Will Nexus ship it’s own auto-compounding feature or it’ll fully depend on third party auto compounders like Apollo or Spectrum.

Apollo charges 30% on all incoming rewards and that will take 30% off the Returns from the nAsset vaults which is hugely significant. On the other hand, Spectrum charges 0.1% on all deposits and 6% on any incoming rewards plus 2% on controller and platform fees.

Should Nexus provides its own auto-compounding, that will take off less from the potential rewards that nAssets can provide.

6 Likes

I am too in agreement with the proposal above. Good work Shimmy! :smiley:

4 Likes

Voted already. Would be great if the rewards will consider the governance participants for other proposals too. Best regards

3 Likes

I fully agree with re-exploring the potential added value of a built in auto-compounder with fees accruing to treasury and governance stakers.
Following Shimmy’s recommendation let’s create a specific topic.

2 Likes

Governance treasury is doing well now, this proposal

3 Likes

Thanks for creating a separate topic on this. After running through your calculations, I do think we might need to place in some milestones before considering the in-house auto-compounder. Detailed further in my post here: Gathering community sentiment for a built-in nAsset auto-compounder vaults (not SPECTRUM) - #2 by Max

1 Like

Atm the team is not developing internal auto-compounder, for the sake of efficiency & higher user benefit (fee < free token)

However, if there’s an strong demand from the community, we will ofc actively consider to develop internal auto-compounder. I think the most ideal way to guage interest is via governance proposal, which ofc can be made by anyone via smart contract level interaction atm; however as there is no frontend where non-dev community member could raise the proposal, if there’s a proposal that has been discussed by the community actively, the team will make the proposal on their behalf.

Meanwhile, we will also track and follow the performance of the SPEC and upcoming Apollo autocompounders to double check on their yields and whether it would be beneficial for the users to build internal autocompounder or not.

1 Like

No matter what, I support