DeFi represents the future of finance. Instead of just recreation, this should lead to reimagining the practices of the past. Our Smart-Index fund hopes to do just that.
What it does
It buys an index of the highest market cap coins using ChainLinks price oracles and then places them into strategies that optimize yield for each specific coin. This means that you can diversify across DeFi projects while also maximizing yield for each coin. We also want to build functionality for arbitrating so that we can hold peg while bolstering profit.
How we built it
We split the work among a designer, frontend, and backend developer. Using Figma, Typescript, React, Chainlink APIs, Solidity, and Remix.
Challenges we ran into
Creating the proper algorithm for automatically calculating the 'Index Devisor' was challenging as well as designing the DAO and token structure.
Accomplishments that we're proud of
We believe that we created a beautiful frontend design for a product. Our index is truly new in what it aims to do as it hopes to cast a wide net while also creating the most value for token holders.
What we learned
We learned a lot about the developer tooling for smart contracts as well as how these tools connect with frontend development and design.
What's next for MeFi Smart-Index
We need to finish building out some of the stated functionality and then begin building a community so that we can share what we have designed.