Yellow Hat DAO

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"We are the Yellow Hats who play with decentralized financial primitives to experiment with crypto-native problems, in such way that tests the limit of cryptoeconomics. We wear Yellow Hats as construction workers, who make the infrastructure more robust by building the inevitables that may break the weaker ones."

"I had lunch with a friend recently who showed me this crazy org she’s assembled called the Yellow Hat DAO. As far as I can tell it’s not really a DAO in the sense I usually think of them, in that it doesn’t have a programmatic reward/rules system that underlies it. But it’s a group of people that seem to have coalesced from the ether, funded by a mix of ICO treasuries, individual wealth, random grants, hackathon prizes etc etc. to reliably churn out weird and interesting stuff. One of the central things the Yellow Hats seem to like to play with is the permissionless aspect of wrapping one thing inside another that blockchain protocols enable. To see how weird and fun this can get, let’s look at LSDai, one of their projects.

So we have Dai, which is created by depositing ETH into a contract. You can then take the Dai and deposit that into another (interest bearing, this time, e.g. Compound) contract and get rDai which is redeemable for your locked up Dai. LSDai takes that rDai as an input, and creates short and long Dai interest tokens, so that people can hedge the interest rate offered by (again, e.g.) Compound."

Community Projects and Research

From their Github (as of 10-2019):


  1. LSDai: Get high on Interest! (winning hack @ETHBerlinZwei 2019)
  1. BME (Bitcoin Mining Earnings) Index Futures: Tokenized Synthetic PoW Mining Contract
  1. Hashedge: Decentralized Marketplace for Generalized Mining (winning hack @ETHSingapore 2018)
  1. StaFi Protocol: PoS Staking Network
  1. CoinCow: Fair Coin Mining, Fun Cow Milking! (A crypto social satire born out of a dream.)
  1. LiquiDAO: Crowd-funded liquidity AMM for bootstrapping new markets (winning hack @EOS San Francisco 2018)


  1. DeFi.WTF Summit:
    • "A DeFi Billboard" Harberger Tax Social Experiment: Repo
    • Quadratic Voting Toolkit: Repo
  1. DAO & Decentralized Governance Research
  2. PoW vs. PoS Network Cartel Formation Analysis (Coming Soon!)
  3. Cost of Liquidity Attacks (Coming Soon!)"