Stage 3
Structural elements.
Summary.
3's utility base is layered; needing to account for several operational perspectives:
The user,
The community, and
The protocol.
Expand upon Stage 2's foundation to realise 3's core utility for each operational group. The solutions must identify and clearly represent the sentiment demands of each operational group.
Requirements.
Users. Principal focus: Asset/Position management tools (Principally established in Stage 2). Primary objective: Access to products, services and/or utilities that assist in maximising trade/position profitability while serving to meet the goals of the protocol.
Community. Principal focus: To maintain the health and longevity of the markets integrated into 3's ecosystem. Primary objective: To promote products, services and/or utilities designed to balance, rebalance, align or realign (according to specific token directives; if sound), the health of 3's integrated markets.
Protocol. Principal focus: To meet and/or exceed the reserve requirements set by the protocols KPI program. Primary objective: To research and develop products, services and/or utilities that assist in asset acquisitions so as to bolster the protocols asset base and hence; its ability to generate revenue.
Deliverables.
Users.
Staking 3Fi tokens will enable users to earn VW3; used to participate in vote programs.
Voting in an Arb.Engine allows users to champion a derivative(s) of their choosing.
Championed derivatives receive greater shares of bond-obtained capital.
Voting in PODs allow users to direct surplus towards areas of 3 that benefit themselves.
GUILD may be used to compose 3Bonds, giving access to new revenue streams.
crvUSD may be used to purchase 3Bonds, providing liquidity to Arb.Engines and access to new revenue streams.
Community.
Arb.Engines work to 'RePeg' derivatives belonging to strategic, integrated partners.
Protocol.
3Bonds primarily service Arb.Engines, but do also provide an additional revenue stream to Settlements, designed to alleviate settlement pressure and promote an excess revenue state.
Arb.Engines work to acquire assets that become part of the Grove's held asset base.
Arb.Engines provide a new revenue stream for the Grove that will initially be used towards the foundations of 3's system-guarantees program.
Settlements (v2) is now designed to capture and convert excess revenue as well as v1 Settlements.
The Reserve, which issues 3Bonds, now manages protocol KPI's, informing Rebates and Arb.Fees.
Deliverables list.
Reserve Master Node.
Surplus Distribution Engine.
Purpose Orientated Distributors (PODs).
Startup Token to 3Bond conversion.
GUILD to 3Bond conversion.
Primary and Secondary 3Bond market.
Rebate Engine.
Preliminary Lending Pool (Stage 4 connection).
3Bond vesting contract.
Arb.Engine Master Node.
sdCRV Arb.Engine.
yCRV Arb.Engine.
cvxCRV Arb.Engine.
Arb.Fee.Engine.
Legends Master Node (Guarantees module).
Legends Incubator.
Audits.
Audits will be undertaken once the work has passed initial sign-off. Details will be posted here in due course.
Last updated