Aave X OnePiece - [Automated System Operations]

Aave Grants DAO
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Summary

Proposal for the open collaboration of OnePiece as a multi-chain operational system available for Aave users.

Proposer

Chris D. Beckman, Head of Business Development at OnePiece, is submitting this proposal on behalf of NatureLabs, the creator of OnePiece.

Abstract

Onchain composability plays a pivotal role in Defi’s evolvement for both end users and developers – a high percentage of their onchain tasks, strategies or new protocol construction requires interoperations across multiple protocols combined with calculations & data monitoring.

OnePiece is the first multi-chain middleware layer that renders swift & automated access to onchain application & onchain composability, aiming to substantially reduce the barrier & cost of utilizing onchain composability of Dapps to accelerate the development & adoption of Defi. In specific, OnePiece provides :

  1. End users with a set of automated Defi Task Types, which :

    A. Turn complex manual execution of a typical Defi task to a simple 3-step task definition process.

    B. Optimize user’s capital efficiency.

  2. Developers with

    A. As Infura is saving developers effort for node setup & maintenance, Onepiece wants to save comparable amount of effort when developers access Dapps;

    B. Onchain data requires considerable effort in processing & structuring before they are ready for use, even for data provided by “The Graph”. Onepiece saves that for developers.

Benefits

For AAVE’s users,

  1. Provide a 2 - level protection against liquidation:

    a. Keep user’s collateral ratio to preset target through auto rebalancing across his lending position & farming/staking positions.
    b. In case of rapid collateral ratio rise, part of the collateral is sold via Flashloan to return to the target collateral ratio to avoid liquidation.

  2. Increase users’ capital efficiency (up to 50%): When the collateral ratio drops below preset standard, it will return to the target collateral ratio by auto borrowing extra to increase user’s predefined farming/staking positions

  3. Save much of user ’ s manual execution for tasks involving interoperations between AAVE & other protocols through automation & auto data monitoring.

For developers,

  1. Provide more uniformed ABI to access AAVE smart contracts to shorten the learning cycle.

  2. Provide processed & structured AAVE data to save data acquisition & processing time.

  3. Provide documents to accelerate user’s development on top of AAVE.

For AAVE,

  1. All the above should increase AAVE’s adoption rate and transaction volume through enhancement in user stickness & reduction in user’s concern with risk & overhead of using AAVE.

  2. As the backbone in Defi, AAVE is accessed by many developers in various cases to compose new strategies, tasks or protocols. Increased accessibility to AAVE smart contracts & data could further enlarge AAVE’s impact in the ecosystem.

Architecture

3 building blocks lay the foundation for Onepiece’s improved onchain accessibility:

  1. Protocol Integration: Integrating major Dapps on mainstream blockchains;
  2. Data acquisition, processing & structuring for all integrated protocols;
  3. Automation.

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Background

Founder:

With MS in EE from Delft University of Technology, Luffy started as engineer/researcher at Intel Eindhoven, NL. & computer system lab of Stanford University, successively. Then he became a strategy consultant in Accenture and Mckinsey, Amsterdam Office. In 2018, Luffy founded a leading aggregative OTC platform adopted by 100+ crypto-exchanges, wallets and mining platforms. The company shifted focus to Defi asset management since March 2020 with sizable AUM.

Implementation

Milestones

OnePiece sets milestones in the following dimensions:

  1. TVL managed through OnePiece:

    a. 1 Billion TVL managed through OnePiece in 4 months after launch
    b. 5 Billion TVL managed through OnePiece in 1 year after launch

  2. No. of Task Types provided:

    a. 6 in 4 months after launch
    b. 12 in a year after launch that covers 70% of the frequent operation cases
    c. From month 12 after launch, 30% of the additional ones are contributed by the community and other protocols

  3. No. of Integrated chains incl. L2:

    a. 3 in 4 months after launch
    b. 8 in a year after launch

  4. No. of Integrated Protocols:

    a. 25 in 4 months after launch
    b. 80 in a year after launch
    c. From month 12 after launch, 60% of the additional ones are contributed by the community and other protocols

  5. No. of processed protocol data instances:

    a. 25 in 4 months after launch
    b. 50 in a year after launch
    c. From month 12 after launch, 75% of the additional ones are contributed by the community and other protocols

Useful Links

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1 Like
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It’s great to see more and more projects getting involved in the AAVE ecosystem, but this type of collaboration doesn’t apply to the very beginning, so maybe you could start with some lighter collaborations. (although I don’t know how)

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Thank you for your feedback. Aave is indeed the biggest protocol integrated, and we are conscious of the difference in weight. That said, the integration has already been done. Speaking of collaboration, we are not seeking financial support, but rather community acknowledgment. We aim to let Aave’s users know about the existence of OnePiece, and the benefits that users can enjoy for free. (OnePiece does not hold custody, all funds and liquidity would remain in Aave’s custody)

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