Overview
MIP-014 proposes the foundational implementation of Maple Strategies, beginning with Sky protocol integration. This proposal introduces the base strategy framework and seeks approval for Sky Savings Rate (SSR) as the first supported protocol. This implementation will enable pools to deploy capital into Sky while maintaining Maple’s core infrastructure, serving as the foundation for future protocol integrations.
Detailed Proposal
Maple continues to expand its protocol capabilities to serve the evolving needs of institutional capital deployment in DeFi. The introduction of Maple Strategies represents a significant advancement in how Maple pools can manage and deploy capital, with Sky serving as the inaugural integration. This proposal seeks to implement the base strategy layer and Sky-specific implementation while maintaining Maple’s security standards and risk management framework.
The implementation consists of two primary components:
- Base Strategy Layer Implementation:
- Introduction of yield-bearing strategy framework for Maple Pools
- Implementation of abstract strategy contracts for standardized interaction patterns
- Development of strategy factory system for controlled deployment
- Sky Protocol Integration:
- Implementation of Sky Savings Rate (SSR) strategy
- Deployment of Sky-specific initializers and storage contracts
- Integration with Sky’s stable yield generation mechanism
- Pool Infrastructure Updates:
- Enhancement of Pool Manager contracts to support strategy addition
- Updates to Pool Deployer for strategy-enabled pool deployment
- Modification of Global contract validations for strategy factories
Rationale
The introduction of Maple Strategies with Sky integration offers several key advantages:
- Market-Leading Yield Generation: By enabling pools to deploy capital into Sky’s Savings Rate, Maple can consistently deliver competitive market yields. Sky’s stable yield generation gives us a floor rate that our pools can utilize when you funds enter the pool or when we are between loan deployments.
- Enhanced Capital Efficiency: The strategy layer introduces dynamic capital allocation capabilities, allowing pools to benefit from Sky’s stable yields while maintaining liquidity flexibility. This initial implementation establishes the groundwork for future yield optimizations across the DeFi landscape.
- Standardized Integration Framework: The abstract strategy pattern establishes a secure and consistent framework for protocol integrations. Starting with Sky creates a proven template for future protocol integrations while maintaining Maple’s robust security standards.
- Improved Risk Management: The implementation incorporates sophisticated constraints and checks specific to Sky’s architecture, ensuring deployed capital remains within approved risk parameters while maximizing yield potential. Sky’s focus on real-world assets aligns well with Maple’s institutional approach to risk management.
Implementation
Should MIP-014 pass, the following steps will be enacted:
- Base Contract Deployments:
- Deployment of MapleStrategyFactory contract
- Implementation of MapleBasicStrategy and MapleSkyStrategy
- Deployment of Sky-specific initializers and storage contracts
- Protocol Updates:
- Upgrade of MapleGlobals contract to support strategy validation
- Enhancement of Pool Manager for strategy integration
- Deployment of new Pool contracts with strategy support
- Sky Integration Process:
- Initial deployment of Sky strategy
- Integration testing in production environment
- Documentation and tooling updates for pool operators
Voting
MIP-014 can be voted upon by stSYRUP holders only, with the vote scheduled to go live on January 24th, 2025.
By implementing Maple Strategies with Sky integration, the protocol establishes a foundation for enhanced yield generation while maintaining the robust security and governance standards that institutions require. This represents the first step in Maple’s evolution toward a comprehensive yield strategy framework.