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I wonder if its possible to ONLY support Ubiquity Dollars internally, but to chain together a transferFrom and a swap PERMIT so that bounty hunters can "cash out" in any token they want. This way we will always get our swap fees, and in order to use our DevPool, you MUST top up with Ubiquity Dollars.
Another benefit to this is that we can allow for minting when we're above peg, which means that we'll be able to raise collateral and deploy it (like FRAX AMOs) to make yield. This and swap fees can be our indirect way to profit from all of this.
We could consider leveraging transfer hooks in order to make it seem like its not a gimmick. If we have some unique capability that only exists in our Dollar and not other stablecoins then its easy to argue why we implemented our system this way.
Given that gas fees will be higher if we chain operations together, we should also look into ways that we can "roll up" permits. Ideally if a bounty hunter can "cash out" several permits combined into a single one then it could save on gas fees.
Finalize architecture
utilize Uniswap router api to estimate cash out amount in any asset
Create cash out button to allow user to perform the swap from this UI
This discussion was converted from issue #8 on May 01, 2023 04:33.
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I wonder if its possible to ONLY support Ubiquity Dollars internally, but to chain together a
transferFrom
and aswap
PERMIT so that bounty hunters can "cash out" in any token they want. This way we will always get our swap fees, and in order to use our DevPool, you MUST top up with Ubiquity Dollars.We could consider leveraging transfer hooks in order to make it seem like its not a gimmick. If we have some unique capability that only exists in our Dollar and not other stablecoins then its easy to argue why we implemented our system this way.
Given that gas fees will be higher if we chain operations together, we should also look into ways that we can "roll up" permits. Ideally if a bounty hunter can "cash out" several permits combined into a single one then it could save on gas fees.
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