We propose the Ethereum Push Notifications Service (EPNS) be integrated with Beefy Finance.
Decentralized notifications through EPNS establish a direct line of communication between Beefy and the community members. All the holders of the $BIFI token will be able to get notifications about their vault assets and governance proposals.
EPNS is the first decentralized communication protocol that enables any dApp, smart contract, or backend to send push notifications tied to user wallet addresses.
Currently, the EPNS protocol powers notifications for 70+ projects, such as Ethereum Name Service (ENS), Decentraland, Uniswap, Pine Protocol, and DoinGud around the Ethereum ecosystem, and soon will be deployed to all the EVM-compatible networks.
We started building EPNS in January 2020. While interacting with decentralized applications, we realized the lack of a notification mechanism that can notify users or wallet addresses about important events, updates, and actions. As a result, many important events requiring user attention end up being missed completely.
EPNS tries to solve this with its Push Notifications service. To do this efficiently, the notification is stored and treated like a JSON payload, which is transformed as per the rules of the different carriers when the notification reaches them. The JSON payload can differ with payload types, which ensures the content’s flexibility, as well as the data, storage interpretation, and delivery.
EPNS allows users to be in full control of what services they get notifications from and impose rules on the services, which include spam protection for users. This means that notifications are treated as a social feed rather than a piece of information.
Making the best use of technologies at hand to enhance user experience is the essence of innovation in Web3. Many protocols and dApps currently rely on emails or social media tools like Twitter, Telegram, and Discord to communicate with their users.
Implementing EPNS decentralized notifications creates a direct channel between Beefy and users — you will be able to receive notifications about your holdings, etc.
All notifications can be delivered in rich media format, resulting in a more engaging user experience. Here are the exact use cases for which users of the Beefy platform will receive notifications:
- Periodic notifications on returns generated from vaults
- Governance proposal notifications
Sending out notifications for the above events will keep investors updated about their positions and promote participation in governance forums.
For: Beefy will leverage the Ethereum Push Notifications Service to serve decentralized notifications to its users.
Against: Do nothing