CVP Proposal: Furucombo

Approved CVP
1

CVP Proposal for Furucombo

Website | Docs | Audit | Discord | Twitter | Youtube

Introduction
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:

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.

Roadmap
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.

Conclusion
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!

1 Like
2

Hello Furucombo team,

When will you integrate Metis Network? Do you have a deployment roadmap?

2 Likes
3

Hello Vladimir!

We plan on deploying and having everything launched on June 28th.

Thanks

1 Like
4

Dear Furucombo,

I am familiar with your protocol from using the simulations feature on Instadapp and I love the things you guys bring to the table like the building blocks of multiple transactions and also… wtf?? the new lending dashboard!!! :exploding_head: quick question, first of all how dare you? and secondly HOLY SHEEEEEEEEEt this is the gona be one of those things that we didn’t realize was an absolute necessity but didn’t know we needed!! Swapping asset positions, debt positions will save me so much damn time and clicks from flip flopping multiple times per day as I track the 1m charts second by second. I’m super excited for your team and our team and the metis team for which it stands, one Nation under Vitalik, indivisible, with liberty and justice for all. A men. A kita.

5

One more question, I see that Maia DAO is listed there as “Swap Token” is that just referring to the function that will be featured on Furucombo that utilizes UniMaia V3? Or does it also include Maia DAO’s Hermes Protocol? I’m sure u are also aware but they are two separate DEX’s that do not talk to each other, yet.

6

Hello!

  1. How does Furucombo’s create mode simplify and optimize DeFi trading for users?
  2. How does Furucombo’s Lending Dashboard provide advanced strategies for Aave users?
  3. How Furucombo improves the user experience in DeFi trading compared to using multiple protocols separately?
1 Like
7

Hey @Akita,

First off thank you for the kind words! We are glad you are excited about our product!

As for the Maia DAO, I will follow up with the team on this and determine which protocol we are taking the swap token from (will update here when i get the information).

Hey @Black322,

Thank you for your questions. To answer:

  1. Furucombo’s create mode can simply trading because you only need to learn one interface. You can come to Furucombo and complete your trading actions without having to worry about the different interfaces of different protocols, and if you are using the most common protocols on that network. Furucombo will work to ensure we have the most useful platforms integrated. Additionally, you can chain together transactions making it easier to perform many actions as one time. This helps to optimize your trading actions because you can chain together and execute in one transaction, reducing the complexity.

  2. So Furucombo has the flash loan feature integrated because you can chain together transactions and execute it within one block. This wouldn’t otherwise be possible unless you know how to code your own flashloan contract. Furucombo takes advantage of this feature by allowing advanced strategies that otherwise wouldn’t be possible without the use of flashloans. Debt swaps, collateral swaps, leverage, and deleverage are all features that take advantage of this functionality, and the lending dashboard allows you to simply click on a button to perform these advanced actions.

  3. So Furucombo improves the user experience by aggregating the most prominent protocols into one interface, to make it more streamlined to manage your position. As previously mentioned, you dont have to learn many interfaces. Also you don’t have to perform a transaction one by one, you can chain them together and execute it on the blockchain in one block. This means you can perform many swaps at one time, send to a wallet, deposit to Aave, all within one transaction, all from within the Furucombo interface.

1 Like