Which projects do you wish that incorporated Gelato's smart contraction automation?

We’ve had some great ideas on the potential use cases of Gelato. As we are speaking, Gelato keeps being implemented into an ever growing group of partner projects. I think now it’s time to consolidate these “abstract” ideas we’ve had into more concrete examples, to draw an even clearer path where Gelato may further expand its footprint.

Since I assume that the majority of us have already experienced various protocols and products, I propose constructing your comment/proposal in the following format:

  • Which project(s) you wish that incorporated Gelato, and what this project does.
  • What the pain points of that project are when you use it, where Gelato can help
  • Whether it needs an existing/similar implementation that Gelato already has done with other projects, or a new framework needs to be developed.

Compared with the previous discussion about the use cases, the difference here is to be as specific as possible, so that the team and the community can have a clear target and therefore it makes it easier for everyone to evaluate if it’s worth further exploring with the said project(s).

I’ll go first.

Project:
Ribbon Finance, a protocol that generates yield through derivative trading strategies.

Pain points:
Currently Ribbon has only option trading vaults, e.g. wbtc, eth, usdc, etc. Because the strategies are basically betting on the weekly price volatility, there can be big differences between vaults in terms of APY but these differences are also volatile, which I suspect will continue so with the gradual “decoupling” between assets. Manually monitoring and shuffling your assets between different vaults to chase higher APYs can be daunting, especially everything is volatile. This process could be automated via Gelato based on a couple of parameters, e.g. the previous week’s APYs, the gas and withdraw fee compared to the APY difference, etc.

Old or New:
Afaik there is no existing working product from Gelato that does the similar work.

3 Likes

Project: nftfi
The marketplace for NFT collateralised loans

Pain points : no auction model available …
Gelato can help in automation of those collateralised loans and executing loan orders when specific price points have been hit for the user

1 Like

Projects:
Yearn & Vesper.
Yield farming protocols utilizing different strategies to generate passive income. What’s special about these two is that they have the type of vaults where multiple strategies are implemented in a single vault. Liquidity in a vault is unevenly distributed across these strategies depending on risk factors, changes in external protocols that vault interacts with, etc.

Pain points:
Right now, the decision on how the liquidity is re-distributed across these strategies is governance based and manually executed, which can be actually automated by Gelato as long as a set of parameters/criteria are clearly defined.

Old or New:
Afaik there is no existing working product from Gelato that does the similar work

1 Like

Projects :
Any derivative trading DEX.

Pain points :
One of the missing and yet very important features on a derivative trading DEX is the automatic adding liquidity to a position to avoid liquidation. As a matter of fact, not even many CEX’s have this feature.

Old or New :
This seems to be a similar implementation as in Cono Finance for AAVE.

1 Like

Projects :
Aave (Polygon)
Limit Order Swap Collateral. the function on Aave for Swaping between the collaterals does not have the option to set a Limit.

Pain points :
If you want to swap you have to do it in the right moment. Without Limit Order you miss it.

Old or New :
there is Cono.finance but it is not doing exactly that.

3 Likes

Projects :
NFT minting projects

Pain points :
Ordinary users don’t get to have a ‘fair’ chance to mint due to congestions, fee spikes, bots, whales etc. Via automation and flashbot integration of Gelato, users are allowed to ‘delegate’ the minting to the executors having fairer chance to participate in the minting events.

Old or New :
Project called Yobot is trying to address the issue. But Gelato might have better edge with its already established network. Or even, could cooperate with them

1 Like

definitely an interesting use case, would be great to get an intro to Yobot, maybe we can collaborate in any way

Project :
Transaction execution trigger based on gas price.

Pain points :
High gas price is a well known issue on Ethereum, and occasionally affect other chains (e.g. Fantom was periodically unusable in the past few weeks following the launch of Solidly). For non time-sensitive tasks such as collecting farming rewards, borrowing or repaying a loan that is not at risk, staking or unstaking tokens from a contract, etc. it would be great to be able to pre-sign those transaction and have them executed when the gas price (based on an oracle such as Ether Gas Station)

Old or New :
Afaik there is no existing working product from Gelato that does the similar work.

2 Likes

yes nice idea, this was actually one of the first production ready use cases we built, check this out:

I do agree there are definitely a lot of other potential use cases that can be build with the “gas price” trigger! Thanks for bringing this up!

3 Likes

This is not a specific project - it is more of a use case. I do not know if Gelato can do anything to fix it, but here it comes anyway.

Across multiple platforms in defi lending, working groups come up against the same issue: they want to automate their protocol and enable non-gated onboarding of collateral, but they come across the same roadblock every time: is the token in question a scam or a shitcoin?

Off course nobody wants to onboard worthless collateral so my question would be if Gelato could develop an onchain scanning solution for collateral. After all you have virus scanners so why not shitcoin scanners? Possibly grading collateral 0-100 and then let teams choose what level of risk they are comfortable with?

Before you reject it - think about the huge resources lending platforms like Maker and algo-stablecoin teams spend in evaluating collateral. This is a gold-plated, top line service with tons of income. Worth spending some shower-thoughts on…

1 Like

Doesn’t really seem Gelato related. There are already a few resources that can be used to help you determine the validity of a protocol.

Here is a good one that takes many factors into consideration: