# 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… --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://smilee-finance.gitbook.io/arbitrum-docs/past-and-present/smilee-v0.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.