#106 Ymax PoC: A Step Toward Seamless DeFi Control (#100, #101, #103, #104)

Governance CoreEval
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We’re excited to share that Agoric will soon propose a Proof of Concept (PoC) build that moves us closer to the vision outlined in our recent blog post, DeFi Power Users Deserve Better: Building for Seamless Control. This PoC demonstrates our commitment to delivering an orchestration layer that streamlines fragmented DeFi workflows, automates repetitive tasks, and empowers power users with greater control and trust across multiple chains.
This is just the beginning. We invite our community to engage with the PoC, share feedback, and help shape a robust product that addresses the real challenges advanced DeFi users face daily. Please stand by for a link to the CoreEvalProposal, which will be provided for voting purposes.

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Based on:

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YMax Portfolio Contract Summary (PoC)

This smart contract enables users to create and manage stablecoin portfolios across multiple chains and yield protocols. It’s a step toward programmable DeFi control. Key features:

  • Create Portfolios: Deposit USDC and access tokens to initiate a portfolio.
  • Allocate Across Protocols: Deploy funds to USDN (M^0/Noble), Aave, and Compound.
  • Rebalance Easily: Adjust allocations across protocols with rebalancing ops.
  • Multi-chain Support: Manage assets on both Noble and EVM chains via Axelar GMP.
  • Portfolio Orchestration: The contract coordinates positions and accounts across chains.
  • Protocol Integration: Interfaces directly with external yield protocols.

Devs: see portfolio-actors.ts and snapshots/*.md for examples.

taken from Full README

What this vote approves

This vote asks the community to approve launching the YMax Portfolio Contract as a Proof of Concept on Agoric mainnet. The contract allows users (by invitation) to create and manage stablecoin portfolios that interact with external yield protocols (USDN, Aave, Compound) across chains. Approval would signal support for deploying this early-stage infrastructure to production, where it can be tested with real assets under constrained conditions. The goal is to validate technical integration and user experience, not yet to scale usage.

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Following up on Proposal 100 (YMax Alpha 1): to enable the deployment to complete as originally authorized, we’ve prepared a follow-on proposal.

The USDC issuer wasn’t connected to a place that issuers are made available in the bootstrap environment. Without it, Proposal 100 bootstrap is stalled, awaiting the issuer’s availability. This change:

  • Fills in the missing integration step for the USDC issuer and brand
  • Enables the previously-passed deployment logic to complete successfully

Details:

This unblocks the next step in making YMax a useful DeFi primitive.

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YMax alpha 1.2

This CoreEval adds additional protocols for alpha testing.

Details:

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YMax alpha 1.3

YMax development is progressing quickly. In order to facilitate rapid deployment and a tight user feedback loop, we propose that the BLD stakers delegate updates for this invitation-only ymax0 alpha contract to Agoric OpCo.

For deployment of ymax contract, a contract for general customer use, the decision remains with the BLD stakers.

Reference:

ymax0 contract: invitation-only, for Agoric OpCo internal test, delegate updates to Agoric OpCo after this CoreEval proposal.

ymax contract: anyone can access, for general customer use, deployment and updates by BLD stakers, initial deployment expected in September.

What this vote approves

  • An object to upgrade / terminate / replace the ymax0 contract sent to agoric1e80twfutmrm3wrk3fysjcnef4j82mq8dn6nmcq

  • A postalService contract to facilitate delivery of (invitation) payments and objects to smart wallets

  • A performance and usability upgrade to the walletFactory (aka smart wallet) contract

Details: #11746, #11748

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YMax alpha 1.4

The previous CoreEval(YMax alpha 1.3) introduced an unintended side effect where agoric1e80twfutmrm3wrk3fysjcnef4j82mq8dn6nmcq was associated with an older instance of ymax0 contract that was terminated. This CoreEval makes the logic more robust so it handles that situation.

Details: #11838

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Note that this is essentially a minor but important bugfix to the tool for rapidly updating test contracts on chain. We tend to structure operations so that they don’t do anything if there’s any potential issue. In this case, it prevented termination/restart/etc. because it was deployed pointing an older version of the test contract. This change correctly loosens that restriction so that we can terminate and upgrade/replace the current test contract.

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