Protocol
MegaVault Operator
Description
This grant will fund the appointment of Gauntlet as the operator responsible for ensuring the success of the upcoming Megavault product launch.
As a reminder, the Megavault is a new product launching with dYdX Unlimited in October that allows dYdX users to deposit USDC to provide liquidity in return for yield. We put out an RFP for the operator role last month.
As the Megavault operator, Gauntlet will be responsible for:
- Parameter updates: monitoring and updating parameters that impact vault and liquidity success, e.g. quoted spreads and skew
- Liquidity allocations: allocating user deposits across dYdX markets to optimize for yield maximization, risk minimization, and productive yield deployment.
- Real time monitoring: develop the necessary monitoring tools to review and flag all vault related activity in real time
- Public dashboard: build a dashboard for the community showing key performance and risk-related metrics
We have established SLAs and deliverables with Gauntlet, including:
- Monitoring and alerting within 10 minutes of any event
- Resolution of any issue within 30 minutes during business hours (8am ET to 8pm ET) and 3 hours outside of those business hours
- On-call appointments and readiness during all hours of operation
