Totally agree.
Would love to understand what any existing/new blockers are if there are any.
And then a timeline to launch
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Is there any forecasts of the yields this index can generate? Even if they are mostly guess work, I think the proposal would benefit from it.
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Agree with @fallow8 after btc2xfli launch it should be all hands on deck to get this out. Gigantic total addressable market and highly beneficial product for all users.
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I think I saw about 15% as an estimate… @Matthew_Graham correct me if I’m wrong.
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This is a cool idea and a space that Index Coop should be in. I still think we need to have a really clear differentiation with competing products out there.
There has been comparisons to YLA and mStable, i think another one to look at is the stable yield pool from Rari Capital. That pool allocates stablecoins across different external protocols (aave, compound, dydx, mStable) but also started to allocate stablecoins in their own money market pools (called Fuse) today.
What would differentiate SYI from something like the above? Admittedly this is outside my expertise so I don’t have an answer to this. As a user, I think having a clear product differentiator will help me decide why I should invest in SYI, vs going for the alternatives with the highest APY.
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Hi All,
Below are two charts that reflect the possible configuration of SYI. I am looking at the different variations to see what affect it has on the appreciation of SYI over time. Also having flexibility horizontally within the tranches allows for greater diversification and can make rebalancing a bit easier.
Key Take Aways:
- Estimated yield generated by passively holding individual components is around 18-20%
** No Compounding
** No Fee Structure TBA post DG1 ie: fees need to deducted
** Yield is time stamped time, 24th April, and changes with markets conditions
3 Risk Tranches - 4 Assets in each tranche - ROI 19.65% w/out compounding or fees
3 Risk Tranches - 3 Assets in each tranche - ROI 19.85% w/out compounding or fees
Returns on Individual Assets
These yields fluctuate with the market conditions and therefore can only be considered as a guide. Which is the same as if someone was to invest in any of the individual components themselves.
| ASSET | RETURN |
|---|---|
| aUSDT | 21.27% |
| aUSDC | 7.92% |
| cDAI | 7.38% |
| aBUSD | 14.37% |
| imUSD | 17.30% |
| yvUSDC | 17.82% |
| Ycrv | 16.25% |
| yDAI | 13.94% |
| Rari -Stable Pool | 23.50% |
| ycrvUSDP | 47.85% |
| apUSDT | 30.22% |
| mUSD/GUSD | 30.54% |
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Hey @Matthew_Graham & @puniaviision - following up on @fallow8’s question - it seems like the large sentiment for the community is that this is a huge opportunity and should be prioritized. I know there have been a lot of conversations between y’all as you have been trying to work out the mechanics behind SYI - is it possible to get an update on where exactly SYI is in the product adoption process? Are we close to DG1? What is still being worked on? Are there any ways the community can help here?
SYI has seemingly been in the same state (in the eyes of the forum) for a long time, although I know a lot of work has been done on the background - I think it would be helpful for the community to get clarity on the questions above! Incredible work on this @Matthew_Graham
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I want to echo everyone’s sentiment here- this product is an absolute must launch for us. The longer we wait to launch a yield earning money market fund the sooner our competitors will. Every single protocol in this space is laser focused on optimizing stable coin yields.
In the last few weeks alone we have heard from numerious DAO treasuries highlighting their desire for a product like this. Our products are quickly becoming the cornerstone for managing risk within - while many of our products are optimized for a bull market - we need to start building assets that will hold through a bear market. $SYI is the perfect example of the kind of products that we need to be focusing on.
We need to move $SYI to DG1 - we need to get it passed - and we need to get it launched!
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Hey guys, we’re planning on starting off the governance process next week so its coming up!
For context, the fundamental struggle with new products right now is how they are prioritized against the FLI suite which we are not only trying to expand, but also to make more scalable and safe.
It’s great to see everyone excitement about the SYI on this thread, but it is still unclear if the SYI hits the target customers that are necessary for successful products at this point in the technological adoption curve (at least relative to our other products). As we’ve seen with the FLI and DPI, our most successful products have really strong appeal to the whale and sophisticated trader demographic.
We may be able to hit that demographic with DAOs regarding the SYI. So far we’ve heard low 7-figure long term commitments for 2 DAOs which is not enough to prioritize immediately.
The bar has been raised significantly over the past few months. Every time we launch a product that isn’t a huge hit, we’re taking away time from another product that could have been.
@Matthew_Graham and I are working on reducing this risk by exploring non-Set engineering resources to get it launched and, if we are able to do so, we can get this out way faster.
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Much appreciated, @puniaviision !
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Is this project SYI still moving forward? Does the discussion continue in another thread somewhere?
Hi @Magra
The Stable Yield Index has been replaced with the Pulse Aggregate Yield (PAY) product. PAY will find a lot stronger market fit and will be a lot better product for the inclusion of DeFi Pulse. 
Hopefully PAY comes to market soon.
Apologies for any inconveniences with the delay.
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