Building on Babylon
Last updated
🛠 Babylon on-chain SDKMediumLast updated
Babylon provides a new DeFi lego building block for developers: Babylon Gardens.
Babylon Gardens are the first DeFi Investment DAO primitive (ERC-20).
See our workshop video in HackMoney 2022 to learn how to get started.
Gardens are tokenized investment clubs/DAOs where users can deposit digital assets and receive a tokenized share (ERC-20) representing their ownership.
Developers can build on top of Babylon Gardens and benefit from all the following built-in features.
You can read more in our medium announcement here
Garden ERC-20 tokens are fully composable and transferrable.
Gardens are non-custodial and trust minimized. Only users have access to their funds. Capital can only be allocated to strategies approved by the club.
Gardens also provide an NFT Membership token (ERC-721). Members of a garden that meet selected requirements can mint their NFT.
Built-in light governance system with signature-based voting. Gas-free.
No-hassle and No code UI to create strategies and deploy capital to +15 DeFi protocols including Aave, Compound, Uniswap, Curve, and Convex.
DeFi execution costs are automatically shared between all members of a Garden, increasing the capital efficiency.
Smart capital allocation between strategies based on current gas costs and settings.
Garden UI where users & managers can deposit/withdraw and monitor the performance of their investment club.
You can read more on our managers page.
The design space is unlimited. You can connect the gardens with the rest of DeFi and web3 in many different ways.
For example:
Create an investment club to invest with your friends through a Babylon garden. This was the original usecase that prompted us to start Babylon. You can learn more about our origin story here.
You can use a garden as a way to generate an index of different DeFi opportunities. For example, here is a Garden that gives exposure to many different Pickle Jars at once.
You can use a garden to simplify access to DeFi opportunities across different protocols. For example, the ⛲ Fountain of ETH generates yield on ETH by taking advantage of staking opportunities across different protocols.
You can use a garden to create a supercharged staking mechanic for any ERC-20 token. You can see more information here. We use a garden to create a staking mechanic for BABL itself, see the Heart 🫀.
Automatically create and deploy strategies to react to events and market conditions. You can execute and trigger strategies directly from your smart contracts.
Gardens and strategies can be created on-chain directly from your smart contracts in a response to an event or directly through our user interface. Check the section below to learn more about the API.
Instead of using Ethereum testnets like Ropsten or Kovab, Babylon Finance uses Hardhat chain for testing and local development.
Babylon Finance integrates with +15 DeFi protocols. Therefore creating a full-working deployment on testnests like Kovan or Ropsten is really cumbersome and prone to errors.
Hardhat lets you clone Ethereum Mainnet and run the clone on your local machine and then you can deploy contracts on top of your cllone.
That way you can build on top of mainnet with all its functionality and DeFi protocols with Ease.
You can view all the information required in our API docs.
You can see their deployment addresses on the deployments page:
Do you want to connect Babylon to another DeFi protocol that is not supported? Now you can build a custom integration and potentially receive bounties.
Here are the steps we recommend to get started.
You can create an investment club by calling createGarden on the Babylon Controller or using our UI at https://babylon.finance/explore.
Once the garden is created, you have your own fully composable tokenized investment DAO as an ERC-20.
If you want to connect Babylon to a different protocol, please follow the custom integration guide.
If you have any trouble, please head to the development channel in our Discord and we'll do our best to help.