CVP Proposal for Furucombo
Furucombo is a multi-chain DeFi aggregator designed to simply, optimize, and automate DeFi trading for all users, new and advanced. Our product started as a tool built for endusers to create their DeFi strategies with drag-and-drop cubes, but has now evolved into a DeFi portal to help you optimize your crypto.
Feature Set and Utility
We will offer two main products on the Metis chain, create mode and our lending dashboard. Create mode is our drag-and-drop interface in which protocols and actions are represented by cubes. You can chain these cubes together to create complex transactions, or do many trading actions and execute them in one transaction.
Our create mode will launch with the following features:
- Stargate (Token Bridge)
- Aave (Deposit, Withdraw, Borrow, Repay, Flashloan)
- Maia DAO (Swap Token)
- Hummus Exchange (Swap Token)
- Utility Features (Multi-send & Send Token)
Additionally, we will launch with our new feature, the Lending Dashboard. This allows users on Aave to manage their positions from our interface, and gain access to advanced strategies that wouldn’t otherwise be possible through utilizing flashloans.
The strategies available from the Lending Dashboard include:
- Collateral Swaps (swap deposited assets without first repaying your debts, requiring no up-front funds)
- Debt Swaps (swap borrowed assets without first repaying your debts, requiring no up-front funds)
- Leverage (borrow funds from your collateral, and redeposit to increase leverage)
- De-Leverage (withdraw your position without any upfront funds using your collateral to repay the debt and unlock the remaining principal)
For more background on our functionality, please see the following tutorials:
- Introduction to Create Mode
- Introduction to Flash Loans (Arbitrage)
- Advanced Flash Loans (Position Management)
- Lending Dashboard
Unique Value Proposition
We believe our unique product offers many benefits to users, new and old. Our protocol improves on ease of use as users can perform trades from just one interface, instead of having to jump to different protocols to perform their trading actions. It allows users to unlock the composability of DeFi through chaining transactions together. Through these chained actions it allows for more advanced trading actions using flashloans, which otherwise wouldn’t be possible without knowing how to code. Lastly, Furucombo is very active in the DeFi space, continually updating our product and expanding our horizons. We will continue to expand our development and any integrated chain and protocol will see added benefit.
Furucombo continues to work hard at adding protocols and features that will add to the robustness and composability of every DeFi ecosystem. We will continue to work with the Metis team to ensure that our product is cutting edge, and will continue to deliver value to the users of Metis. If there is an integration you would like to see us add, please reach out to us on our Community Discord.
Audit Information & Contracts
The Furucombo proxy has been extensively audited and tested, and has been live since 2020 while receiving numerous upgrades. Our proxy contract can be closed at any time in the event of any malicious activity, and the Furucombo team is on call 24/7 in the event that the team needs to take action. The protocols that Furucombo integrate are based on blue chip protocols (or are forks of) and therefore pose very low risk (such as Uniswap, Aave, etc.) Our audit page can be found on our docs page via the link above.
We will also post a list of the contracts once we are live on Metis. We will also update them on our contracts page located on our docs page via the link above.
Furthermore, as security is our most paramount concern, we also have an active bug bounty with ImmuneFi in which anyone can submit a bug report and make a claim if an exploit is found. You can find more information about our bug bounty on our docs page via the link above.
We are excited to be working with Metis and look forward to the support of the community. We hope that you see the value in what we are building, and can’t wait to bring these features live on chain for you all to use. We look forward to a long and prosperous partnership between our communities and protocols.
Thank you for your consideration!