Smilee v0

It’s a little-known fact that Smilee was essentially an Aave fork to begin with. When we first set out to bring convexity to DeFi via an initial product turning DEX liquidity into volatility (Impermanent Gain), we felt the simplest route was through an Aave-esque Lend/Borrow mechanism for LP tokens.

While that was a perfectly viable approach and the path of least resistance, we quickly learned that approach would severely limit our ability to build other types of on-chain Options & Derivatives in the future.

So the model has been adapted…