@han @Sh4un
Please understand that our forum post with respect to the governance attack was not an attack on either of you personally in any way, but in defense of the process. Given the lack of details, peer review, and social consensus, it seemed clear that token holders weren’t able to know what they were voting on and short-term minded actors were pushing it through.
We are a reasonably new member to the community, lumping us in as status quo is not constructive nor correct.
We look forward to a proposal that allows for technical review and a plan to solve some of the key pain points with respect to driving material usage of TrueFi’s products.
Getting back to more pressing strategic business matters.
We are open to collaborating on product ideas and have generally found Options Vaults interesting, but very difficult to scale. Would love your feedback as to why you think differently. You will see from this post that we’ve been pushing for covered call option vault integrations as a use case with MYSO, but we have been struggling to build consensus around a small test solution with the DAO to get this off the ground.
The problem we see is that option strategies thrive on asymmetric information whereby a market maker can take advantage of a treasury manager by radically mispricing volatility. MYSO helps solve for this by providing a marketplace for Treasurers with more transparent pricing tools. As Credit Risk Manager for the TrueFi DAO, we could use existing TrueFi SCs to lend into these whitelisted transactions to market makers in a highly secure manner with only right-way credit risk (i.e. USDC collateral is only removed from a SC when the token goes up and the market maker is in the money).
The problem we see is not one of technology but of business development with the right treasuries and product scalability—each transaction is reasonably small and bespoke. Given option vaults have had a lot of focus in the past cycle, from Friktion to Ribbon et al., and are reasonably saturated,
- Could you share some details as to how the go-to-market strategy would differ or where these platforms went wrong?
- Do you have lender capital committed to deploy into these strategies?
- Would there be collateral tied to these transactions?
- Do you have a workflow of how Option Vaults would engage w/ existing TrueFi SCs?
Thanks!