diff --git a/.eslintrc.js b/.eslintrc.js new file mode 100644 index 000000000..1140cbccd --- /dev/null +++ b/.eslintrc.js @@ -0,0 +1,35 @@ +module.exports = { + 'env': { + 'node': true, + 'browser': true, + 'es2021': true + }, + 'extends': [ + 'eslint:recommended', + 'plugin:react/recommended', + 'plugin:react-hooks/recommended', + 'plugin:tailwindcss/recommended' + ], + 'parserOptions': { + 'ecmaFeatures': { + 'jsx': true + }, + 'ecmaVersion': 12, + 'sourceType': 'module' + }, + 'plugins': [ + 'react', + 'tailwindcss' + ], + 'rules': { + 'indent': [2, 'tab'], + 'no-mixed-spaces-and-tabs': 1, + 'react/prop-types': 0, + 'no-async-promise-executor': 0, + 'quotes': [2, 'single', {'avoidEscape': true}], + 'object-curly-spacing': [2, 'never'], + 'array-bracket-spacing': [2, 'never'], + 'react/jsx-curly-brace-presence': ['error', {'props': 'always', 'children': 'always'}], + 'semi': 'error' + } +}; diff --git a/.gitignore b/.gitignore index 736d7400f..da14f8c9e 100644 --- a/.gitignore +++ b/.gitignore @@ -1,6 +1,27 @@ -*.gem -.bundle -.jekyll-cache -.sass-cache -_site -Gemfile.lock +.DS_Store +node_modules +/dist + + +# local env files +.env.local +.env.*.local + +# Log files +npm-debug.log* +yarn-debug.log* +yarn-error.log* +pnpm-debug.log* + +# Editor directories and files +.idea +.vscode +*.suo +*.ntvs* +*.njsproj +*.sln +*.sw? + +.env +.next +.vercel diff --git a/404.html b/404.html deleted file mode 100644 index ab1bcba24..000000000 --- a/404.html +++ /dev/null @@ -1,10 +0,0 @@ ---- -layout: default -title: 404 -permalink: /404.html ---- -
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diff --git a/Announcements/_posts/Deposit-Together/2021-11-01-Deposit-Together.md b/Announcements/_posts/Deposit-Together/2021-11-01-Deposit-Together.md deleted file mode 100644 index 5ba0adcb8..000000000 --- a/Announcements/_posts/Deposit-Together/2021-11-01-Deposit-Together.md +++ /dev/null @@ -1,25 +0,0 @@ ---- -layout: post -title: "Deposit Together" -categories: [ Announcements ] -image: ./Deposit-Together/DT-thumbnail.jpg -author: Yearn -translator: -publish: false ---- - -Announcing… 💥 - -Deposit Together with Wido, split fees & save 80%+ on gas - -Starting with our beloved yearn 💙 - -Yearn finally profitable to non whales 🍤🦀 - -More people in batch = more savings - -Bonus: $50 in USDC for inviting frens 🤑 - -Try: [joinwido](https://app.joinwido.com/?page=detail&address=0x8cc94ccd0f3841a468184aCA3Cc478D2148E1757) - -![](deposit-together.png) diff --git a/Announcements/_posts/Deposit-Together/DT-thumbnail.jpg b/Announcements/_posts/Deposit-Together/DT-thumbnail.jpg deleted file mode 100644 index f1798564f..000000000 Binary files a/Announcements/_posts/Deposit-Together/DT-thumbnail.jpg and /dev/null differ diff --git a/Announcements/_posts/Deposit-Together/deposit-together.png b/Announcements/_posts/Deposit-Together/deposit-together.png deleted file mode 100644 index 7f38b576b..000000000 Binary files a/Announcements/_posts/Deposit-Together/deposit-together.png and /dev/null differ diff --git a/Announcements/_posts/Legal-Activism-DAO/2021-08-03-Legal-Activism-DAO.md b/Announcements/_posts/Legal-Activism-DAO/2021-08-03-Legal-Activism-DAO.md deleted file mode 100644 index 87952411b..000000000 --- a/Announcements/_posts/Legal-Activism-DAO/2021-08-03-Legal-Activism-DAO.md +++ /dev/null @@ -1,17 +0,0 @@ ---- -layout: post -title: "Proposal Fund Builder First Legal Activism DAO" -categories: [ Announcements ] -image: ./Legal-Activism-DAO/1.jpg -author: LexPunk DAO -translator: -publish: true ---- - -![](1.jpg) - -[@LeXpunK_DAO](https://twitter.com/LeXpunK_DAO) is proposing to raise a builder-centric cryptolaw activism DAO from other value-aligned communities. - -This is for builders & degens having a more direct voice in critical cryptolaw discussions, without Silicon-Valley influence. - -[https://gov.yearn.finance/t/proposal-fund-builder-first-legal-activism-dao/11280](https://gov.yearn.finance/t/proposal-fund-builder-first-legal-activism-dao/11280) diff --git a/Announcements/_posts/The Blue Pill Ann/2021-07-30-The-Blue-Pill-Ann.md b/Announcements/_posts/The Blue Pill Ann/2021-07-30-The-Blue-Pill-Ann.md deleted file mode 100644 index 0a043766a..000000000 --- a/Announcements/_posts/The Blue Pill Ann/2021-07-30-The-Blue-Pill-Ann.md +++ /dev/null @@ -1,16 +0,0 @@ ---- -layout: post -title: "The Blue Pill" -categories: [ Announcements ] -image: ./The-Blue-Pill-Ann/thebluebook.jpg -author: Yearn -translator: -publish: true ---- - -Today we invite you to celebrate the first year of Yearn with [The Blue Pill](https://medium.com/iearn/the-blue-pill-ca44ed01f16f), a spiritual guide for the past, present and future of Yearn. A beautifully-typeset book is available to our 13,500 most loyal supporters. - -Your contribution is immortalized in a [set of seven unique NFTs](https://galaxy.eco/yearn) by -[@Zemm_NFT](https://twitter.com/Zemm_NFT). Whether you are a farmer, a governor, a doer, or a giver, Yearn wouldn't have been the same without you. You are all necessary. - -This is an invitation to contribute. We attempt to answer what makes Yearn unique by diving deep into the magic of The Gift which has sparked the project. Keep the book close, or share it with a friend. Keep our story alive, you are already part of it. diff --git a/Announcements/_posts/The Blue Pill Release/2021-08-03-Blue-Pill-Release.md b/Announcements/_posts/The Blue Pill Release/2021-08-03-Blue-Pill-Release.md deleted file mode 100644 index ab11d5d64..000000000 --- a/Announcements/_posts/The Blue Pill Release/2021-08-03-Blue-Pill-Release.md +++ /dev/null @@ -1,15 +0,0 @@ ---- -layout: post -title: "Blue Pill Release" -categories: [ Announcements ] -image: ./Blue-Pill-Release/thebluepill.jpg -author: Yearn -translator: -publish: true ---- - -Last week we announced The Blue Pill book and gave early Yearn supporters a first look via a limited series of NFTs. - -Today we invite everyone to experience The Blue Pill: - -[https://thebluepill.eth.link](https://thebluepill.eth.link) diff --git a/Announcements/_posts/The Blue Pill Release/thebluepill.jpg b/Announcements/_posts/The Blue Pill Release/thebluepill.jpg deleted file mode 100644 index c1d328a09..000000000 Binary files a/Announcements/_posts/The Blue Pill Release/thebluepill.jpg and /dev/null differ diff --git a/Announcements/_posts/Token Terminal/2021-09-03-Token-Terminal.md b/Announcements/_posts/Token Terminal/2021-09-03-Token-Terminal.md deleted file mode 100644 index 0f887e6cb..000000000 --- a/Announcements/_posts/Token Terminal/2021-09-03-Token-Terminal.md +++ /dev/null @@ -1,17 +0,0 @@ ---- -layout: post -title: "Token Terminal" -categories: [ Announcements ] -image: ./Token-Terminal/1.jpg -author: Yearn -translator: -publish: true ---- - -![](1.jpg) - -Yearn Fundamentals Dashboard on Token Terminal - -Our friends at [@tokenterminal](https://twitter.com/tokenterminal) now track fundamental metrics of YFI such as supply-side and protocol revenues, P/S and P/E ratios, annualized capital deployed. - -[https://www.tokenterminal.com/terminal/projects/yearn-finance](https://www.tokenterminal.com/terminal/projects/yearn-finance) diff --git a/Announcements/_posts/Update Bowswap.Finance/2021-08-26-Update-Bowswap.Finance.md b/Announcements/_posts/Update Bowswap.Finance/2021-08-26-Update-Bowswap.Finance.md deleted file mode 100644 index 05bc85afa..000000000 --- a/Announcements/_posts/Update Bowswap.Finance/2021-08-26-Update-Bowswap.Finance.md +++ /dev/null @@ -1,31 +0,0 @@ ---- -layout: post -title: "Update Bowswap" -categories: [ Announcements ] -image: ./Update-Bowswap.Finance/image1.jpg -author: Yearn -translator: -publish: true ---- - -# Bowswap.Finance [Update](https://t.me/yearnupdates/483) - -It now has two parts: - -## 1. Between Yearn Vaults - -![](image1.jpg) - -It swaps funds from one vault to another. There's no liquidity pool. It withdraws and redeposits into the desired vault. The only swaps it does is using Curve. If the vaults have a token in common (same metapool or 3CRV for example) it will use them. While it's not cheap gas-wise, it is gas efficient - Cheaper than doing it manually, for sure - -## 2. From DeFi to Yearn Vaults - -[Bowswap.finance](https://bowswap.finance/), now with simple migration to the best yield available. Migrate from AAVE and Compound to Yearn Finance in a few clicks, with no fees. - -Sorry Stani - -![](image2.jpg) - -This next feature helps users migrate funds from Compound and AAVE to Yearn. It's the same concept as above, withdraw from the protocol and deposit into a Yearn Vault. Also shows both protocol's APY in the list and let's you select multiple tokens at the same time. - -No fees are charged by Yearn on these swaps. diff --git a/Announcements/_posts/Update Bowswap.Finance/image2.jpg b/Announcements/_posts/Update Bowswap.Finance/image2.jpg deleted file mode 100644 index 287b12d72..000000000 Binary files a/Announcements/_posts/Update Bowswap.Finance/image2.jpg and /dev/null differ diff --git a/Announcements/_posts/Updated YFIStats Dashboards/1.jpg b/Announcements/_posts/Updated YFIStats Dashboards/1.jpg deleted file mode 100644 index 1a0164000..000000000 Binary files a/Announcements/_posts/Updated YFIStats Dashboards/1.jpg and /dev/null differ diff --git a/Announcements/_posts/Updated YFIStats Dashboards/2021-09-30-Updated-YFIStats-Dashboards.md b/Announcements/_posts/Updated YFIStats Dashboards/2021-09-30-Updated-YFIStats-Dashboards.md deleted file mode 100644 index 5b4211615..000000000 --- a/Announcements/_posts/Updated YFIStats Dashboards/2021-09-30-Updated-YFIStats-Dashboards.md +++ /dev/null @@ -1,16 +0,0 @@ ---- -layout: post -title: "Update YFIStats Dashboards" -categories: [ Announcements ] -image: ./Updated-YFIStats-Dashboards/1.jpg -author: Yearn -translator: -publish: true ---- - -![](1.jpg) - -[YFI Stats](https://www.yfistats.com/) has been updated with some new dashboards. We now have a YFI buybacks and a CRV from EPS airdrop dashboard to help users better visualize these metrics. These have been some of the most requested features recently and now they're live! If there are any other metrics you would like to see on YFI Stats feel free to reach out. You can check it out now at the links below. - -YFI Buybacks: [https://www.yfistats.com/financials/YFIBuybacks.html](https://www.tokenterminal.com/terminal/projects/yearn-finance)
-CRV from EPS: [https://www.yfistats.com/other/CRVfromEPS.html](https://www.yfistats.com/other/CRVfromEPS.html) diff --git a/Announcements/_posts/What do I need to write a strategy/2021-07-21-What-do-I-need-to-write-a-strategy.md b/Announcements/_posts/What do I need to write a strategy/2021-07-21-What-do-I-need-to-write-a-strategy.md deleted file mode 100644 index 0a01ce75c..000000000 --- a/Announcements/_posts/What do I need to write a strategy/2021-07-21-What-do-I-need-to-write-a-strategy.md +++ /dev/null @@ -1,15 +0,0 @@ ---- -layout: post -title: "What do I need to write a strategy?" -categories: [ Announcements ] -image: ./What-do-I-need-to-write-a-strategy/image1.jpg -author: Yearn -translator: -publish: true ---- - -![](image1.jpg)
- -Over $5M has been paid to [Yearn](https://t.me/yearnupdates) strategists in 2021. Today [@EthCC](https://twitter.com/EthCC/) [Facu](https://t.me/fameal) broke down what it takes to become a mighty strategist like himself. Check the video below for an amazing overview! 👇 - -[https://www.youtube.com/watch?v=NVR3teJw0Y0](https://www.youtube.com/watch?v=NVR3teJw0Y0) diff --git a/Announcements/_posts/Yearn & Synthetix DAO twitter space/2021-07-29-Yearn-&-Synthetix-DAO-twitter-space.md b/Announcements/_posts/Yearn & Synthetix DAO twitter space/2021-07-29-Yearn-&-Synthetix-DAO-twitter-space.md deleted file mode 100644 index 1f1f09eef..000000000 --- a/Announcements/_posts/Yearn & Synthetix DAO twitter space/2021-07-29-Yearn-&-Synthetix-DAO-twitter-space.md +++ /dev/null @@ -1,13 +0,0 @@ ---- -layout: post -title: "Yearn & Synthetix DAO twitter space" -categories: [ Announcements ] -image: ./Yearn-&-Synthetix-DAO-twitter-space/1.jpg -author: Yearn -translator: -publish: true ---- - -Yearn and Synthetix talk DAO governance and decision making, check it out below👇 - -[https://www.spreaker.com/user/14928562/synthetix-yearn-governance](https://www.spreaker.com/user/14928562/synthetix-yearn-governance) diff --git a/Announcements/_posts/Zero Knowledge Podcast/1.png b/Announcements/_posts/Zero Knowledge Podcast/1.png deleted file mode 100644 index 6bf72af38..000000000 Binary files a/Announcements/_posts/Zero Knowledge Podcast/1.png and /dev/null differ diff --git a/Announcements/_posts/Zero Knowledge Podcast/2021-05-05-Zero-Knowledge-Podcast.md b/Announcements/_posts/Zero Knowledge Podcast/2021-05-05-Zero-Knowledge-Podcast.md deleted file mode 100644 index c4bfe3d8f..000000000 --- a/Announcements/_posts/Zero Knowledge Podcast/2021-05-05-Zero-Knowledge-Podcast.md +++ /dev/null @@ -1,14 +0,0 @@ ---- -layout: post -title: "Zero Knowledge Podcast" -categories: [ Announcements ] -image: ./Zero-Knowledge-Podcast/1.png -author: Yearn -translator: -publish: true ---- - -Our very own [@tracheopteryx](https://twitter.com/tracheopteryx) & [@fameal](https://twitter.com/fameal) were recently on the Zero Knowledge Podcast talking about Yearn's history, evolving governance, and more! - -Check it out at the link below: -[zeroknowledge.fm/192](https://www.zeroknowledge.fm/192) diff --git a/Announcements/_posts/yearn = yield function/2021-06-13-Yearn-=-Yield-Function.md b/Announcements/_posts/yearn = yield function/2021-06-13-Yearn-=-Yield-Function.md deleted file mode 100644 index 563b7a7c4..000000000 --- a/Announcements/_posts/yearn = yield function/2021-06-13-Yearn-=-Yield-Function.md +++ /dev/null @@ -1,23 +0,0 @@ ---- -layout: post -title: "What if Yearn = the web's yield function?" -categories: [ Announcements ] -image: ./Yearn-=-Yield-Function/yield1.jpg -author: Yearn -translator: -publish: true ---- - -![](yield1.jpg) - -# What if Yearn = the web's "yield function"? - -In programming a "function" is a little bundle of reusable code that accomplishes a specific task… You can summon that function anytime, and it will do the same thing over and over again without fail. - -With Yearn, devs anywhere on earth can take our yields and insert them into any financial flow. - -People talk about money legos. Yearn isn't so much a lego as the plastic other DeFi projects can use to build their own legos. - -Just as the Internet of Information uses APIs for data, the Internet of Value will use Yearn for yield. Anywhere value lies dormant (for days, hours... even minutes), Yearn will go. - -And that means Yearn could become as big as the Internet of Value itself. Like blockchains, it could come to underlie all financial flows -- all value flows. diff --git a/Articles/_posts/Argent/2021-08-24-easily-earn-with-yearn-v2-in-argent.md b/Articles/_posts/Argent/2021-08-24-easily-earn-with-yearn-v2-in-argent.md deleted file mode 100644 index 544c9d59b..000000000 --- a/Articles/_posts/Argent/2021-08-24-easily-earn-with-yearn-v2-in-argent.md +++ /dev/null @@ -1,94 +0,0 @@ ---- -layout: post -title: "Easily earn with Yearn V2 in Argent" -categories: [ Articles ] -image: ./easily-earn-with-yearn-v2-in-argent/Image1.jpg -author: Argent -translator: -publish: true ---- - -# Easily earn with Yearn v2 in Argent - -![](Image1.jpg) - -Yearn V2 Vaults are now just a tap away in Argent! Earn up to 16.47% Net APY\* with automated yield generation. This builds on our existing support for Yearn's [V1 Vaults](https://www.argent.xyz/blog/yearn-vaults-in-argent/). - -## **Benefits of using Yearn with Argent** - -Earning with [Yearn](https://yearn.finance/vaults) through Argent is unique because of its: - -- **Simplicity**: Only one transaction required. (No need for a separate approval). -- **Security**: No infinite token approvals; you automatically only approve what you need to spend. You also have peace of mind that you're interacting with the right contracts. - -We've launched with 7 Vaults (USDC, DAI, SNX, 1INCH, YFI, WBTC, USDT, UNI, ETH). - -## **Why Yearn matters** - -Yearn has grown at a [monumental pace](https://defipulse.com/yearn.finance) since its launch in early 2020. Yearn makes it easy for anyone to "yield farm" (trying to maximize the return on your assets by utilizing multiple DeFi protocols). Yearn compare their approach to passive investing. - -![](Image2.jpg)DeFi Pulse Graph showing the total value locked (TVL) in Yearn.Finance - -There's also a big benefit when it comes to Ethereum network fees ('gas'). Gas is "socialized" across everyone using that Vault making it much more economical for the average user. - -[Strategies](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3) are proposed by the community and voted on by Yearn's governance. - -With V2, each Vault can employ multiple strategies, whereas V1 Vaults used just one each. - -## **How to use Yearn V2 Vaults in Argent** - -### **Buy** - -- Tap **'Invest'** tab in Argent -- Tap **'Yearn V2 Vaults'** -- Choose a Vault -- Tap **'Buy Investment'** -- Select amount (& confirm you're happy with the network fee) -- Buy - -### **Fees** - -Argent does not take a fee. - -Yearn takes: - -- 20% performance fee (deducted from the yield) -- 2% management fee (deducted from total balance per year). - -You also need to pay for gas. - -![](Image3.jpg) -Using yearn in the Argent app - -## **Tracking your Vault's performance** - -Balances are not updated continuously; they are updated on a "fluctuating basis", according to Yearn. - -To track the returns, you can use - -- [Zapper](https://zapper.fi/) -- [Zerion](https://app.zerion.io/) -- [Yearn Vault ROI Calculator](https://yearn-roi.xyz/#/) -- [yVault ROI](https://yvault-roi.netlify.app/) - -## **Further reading & resources** - -- [Yearn's docs](https://docs.yearn.finance/) -- [Yearn's State of the Vaults (weekly update)](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3) -- [Yearn's Twitter](https://twitter.com/iearnfinance) - -## **Risks** - -As always in crypto and DeFi, you should do your own research on the risks. These include smart contracts and the economics of the protocols. Yearn's audits can be found [here](https://docs.yearn.finance/resources/audits). - -\*APY is variable and the concept does not technically directly apply as it does in centralized finance. Please see [Yearn's explanation](https://docs.yearn.finance/resources/guides/how-to-understand-yvault-roi#roi-calculation) for more. - -## **Download Argent** - -Get started with Argent [here](https://argent.link/yearn-v2-post). If you have any questions you can find us at: - -- [Discord](https://discord.com/invite/GWSyrHg) -- [Twitter](https://twitter.com/argentHQ) -- [Support](https://support.argent.xyz/hc/en-us) - -_This should go without saying but in case it doesn't: we are NOT a bank _**🙄**_. We are not a regulated financial entity._ diff --git a/Articles/_posts/Argent/Image1.jpg b/Articles/_posts/Argent/Image1.jpg deleted file mode 100644 index 2e6508d78..000000000 Binary files a/Articles/_posts/Argent/Image1.jpg and /dev/null differ diff --git a/Articles/_posts/Argent/Image2.jpg b/Articles/_posts/Argent/Image2.jpg deleted file mode 100644 index f940e5109..000000000 Binary files a/Articles/_posts/Argent/Image2.jpg and /dev/null differ diff --git a/Articles/_posts/Argent/Image3.jpg b/Articles/_posts/Argent/Image3.jpg deleted file mode 100644 index 9b2f5b32b..000000000 Binary files a/Articles/_posts/Argent/Image3.jpg and /dev/null differ diff --git a/Articles/_posts/Forum/How we think about Yearn/2020-10-20-How-we-think-about-Yearn.md b/Articles/_posts/Forum/How we think about Yearn/2020-10-20-How-we-think-about-Yearn.md deleted file mode 100644 index 9e89fbef3..000000000 --- a/Articles/_posts/Forum/How we think about Yearn/2020-10-20-How-we-think-about-Yearn.md +++ /dev/null @@ -1,30 +0,0 @@ ---- -layout: post -title: "How we think about Yearn" -categories: [ Articles ] -image: ./How-we-think-about-Yearn/YFI1.jpeg -author: Yearn DAO Contributors -translator: -publish: true ---- - -# How we think about Yearn - -## What Yearn is not - -1. **Yearn is not a company.** It does not have a board. There is no CEO, there is no team of managers. There is no room for bureaucrats. -2. **Yearn does not have investors.** There are no VCs, no angels, no SPACs, and no SPVs that are pulling the strings in the background. -3. **Yearn does not cater to speculators.** Pump it, dump it, hedge it, short it, long it, lend it, nobody cares. Yearn is agnostic to price. -4. **Yearn does not have an official voice.** There’s no legal entity, there’s no foundation, no copyright, no patent, no central authority to stamp announcements with official seals from some great leader. -5. **Yearn is not owed anything from anyone.** Contributors come together and work on this project voluntarily. Nobody has authority over anyone else, and nobody owes Yearn anything. Similarly nobody has any right to ask anything from Yearn. You get back what you put in. - -## What Yearn is - -1. **Yearn is a collective of contributors.** There is no difference between “the team” and “the community”, they are one and the same. -2. **Yearn is equal opportunity.** No matter who you are, you are free to use Yearn, and you have the same right and privilege as anyone else. -3. **Yearn is for builders.** Come with your ideas, come with your passion, come with your creativity. Actions speak louder than words. -4. **Yearn is for self starters.** See something that’s broken? Fix it. Don’t ask for permission. -5. **Yearn is for collaborators.** Find others who are like minded, self-organize, and get stuff done. -6. **Yearn is influenced by merit.** Yearn runs on proof of work. Your contributions and commitment to Yearn dictate how much others listen to your voice —not your status, your wealth, or who you’re friends with. -7. **Yearn is governed by YFI, but YFI does not govern Yearn’s contributors.** Holding YFI entitles you to signal for real, practical change that improves Yearn. It doesn’t give you the right to tell other contributors what to do. You want something done? Do it. -8. **Yearn is constantly evolving.** What Yearn is today, may not be what it is tomorrow—what you do after reading this may change Yearn forever. It’s up to you. diff --git a/Articles/_posts/Forum/What can you do with YFI/2021-05-05-What-can-you-do-with-YFI.md b/Articles/_posts/Forum/What can you do with YFI/2021-05-05-What-can-you-do-with-YFI.md deleted file mode 100644 index de1f9e0cd..000000000 --- a/Articles/_posts/Forum/What can you do with YFI/2021-05-05-What-can-you-do-with-YFI.md +++ /dev/null @@ -1,325 +0,0 @@ ---- -layout: post -title: "What can you do with YFI?" -categories: [ Articles ] -image: ./What-can-you-do-with-YFI/image1.png -author: Dark Ghosty -translator: -publish: true ---- - -# What can you do with YFI? -In this article, we look into what one can do with their YFI to earn yield in [DeFi](https://www.coindesk.com/what-is-defi), what risks are associated with each option, and the approximate yield you could get. - -- All APY quotes are from April 27th. -- All positions that take out debt assume borrowing at 70% of the max rate to be able to withstand a 30% reduction in YFI price. -- This is not financial advice. Interacting with DeFi protocols is **risky**, please do your own research. - -___ - -## **Before you start, consider insuring your YFI with DeFi Insurance** -A note about DeFi insurance and how it works. DeFi insurance *mostly* covers bugs in the solidity code that leads to a material loss of funds for that specific protocol. But be sure to read each Defi insurance documentation carefully to know what they do and don't cover. - -As an example, say someone had insurance for their yearn vault, but there was a bug with MakerDAO's code and the vault's CDP lost some funds because of this. This person having only insurance on Yearn, wouldn't be able to claim any losses and their insurance wouldn't payout in this case. This is because it was not a bug in yearn's smart contracts that caused the loss. For more info on insurance feel free to ask in our [discord](discord.yearn.finance) in #support. - -### **DeFi Coverage Providers** -- [Nexus Mutual](https://app.nexusmutual.io/#/SmartContractCover) - - [Documentation](https://nexusmutual.gitbook.io/docs/) -- [Cover Protocol](https://app.coverprotocol.com/) - - [Documentation](https://docs.coverprotocol.com/) - -___ - -## ***Direct Deposit*** -This section addresses ways that you can make use of your YFI by itself. Alternative methods of generating yield, like providing liquidity to a decentralized exchange's [automated market maker (AMM)](https://www.gemini.com/cryptopedia/amm-what-are-automated-market-makers) may require you to pair your YFI with another token which could compromise your full exposure to YFI. This isn't to say that it is risk-free, but that you won't have to deal with what is referred to as [impermanent loss (IL)](https://www.gemini.com/cryptopedia/decentralized-finance-impermanent-loss-defi). *Having funds in smart contracts always carries some risk.* - -### Yearn: v2 YFI yVault -The Yearn Finance YFI v2 yVault lets you deposit YFI and sit back and relax while it earns yield for you at the optimal places to do so. At the time of writing the vault currently opens a CDP and uses the DAI minted to farm with. Also, the yVault lends out YFI to CREAM and AAVE for more yield. - -#### Site -- [Yearn.Finance](https://yearn.finance/vaults/0xE14d13d8B3b85aF791b2AADD661cDBd5E6097Db1) - -#### Tools -- [Yearn Hub](https://yearn-hub.vercel.app/vault/0xE14d13d8B3b85aF791b2AADD661cDBd5E6097Db1): This link will show how much of the funds in the vault are allocated to which strategies. -- [Vaults at Yearn](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3): Here you can see what each strategy in the yvYFI v2 vault does. -- [Yearn Vision](yearn.vision): Dashboards for vault statistics. -- [Zap into v2 YFI yVault](https://zapper.fi/invest?protocol=yearn&contractAddress=0xe14d13d8b3b85af791b2aadd661cdbd5e6097db1&modal=invest) - -#### Risks -Currently, the risks associated with this vault are smart contract risk for yearn's vault contracts (which are [audited](https://github.com/yearn/yearn-security/tree/master/audits)), MakerDAO CDP risks, and since a strategy lends out YFI to CREAM and AAVE for extra yield, and smart contract risk for both platforms as well. The vault has monitoring of its CDP and keeps a [health ratio](https://medium.com/iearn/delegated-vaults-explained-fa81f1c3fce2) of 3 which means it will only mint 1/3 of the max available for minting in DAI then use that DAI to farm with. - -#### Insurance -At the time of writing to be fully insured in the YFI v2 vault, you would need coverage for Yearn, MakerDAO, AAVE, and CREAM. You can be selective about which coverage to purchase and only pay for cover of the protocols you believe to be risky. You can see which protocols this yVault interacts with for insurance at [yearn hub](https://yearn-hub.vercel.app/vault/0xE14d13d8B3b85aF791b2AADD661cDBd5E6097Db1). - -#### APY -APY: 2.866% -Calculation: Last month net, annualized. -Source: [vaults.finance: yearn v2 API](https://vaults.finance/all) -Sidenote: APY peaked for a time to 24% - -This vault is the most up-to-date YFI vault from the yearn team and has proven that it can move quickly to jump into upcoming YFI farms for better yield if they are safe to be farmed, as they recently did with farming BDP: Big Data Protocol. - -- [Yearn.Finance: YFI Vault](https://yearn.finance/vaults/0xE14d13d8B3b85aF791b2AADD661cDBd5E6097Db1): Yearn's vault page shows Weekly or Monthly APY based on a formula. - -___ - -## ***Direct Deposit, possible IL*** -Some yield-generating techniques are designed to reduce the risk of IL, but not remove it entirely. An example of this is providing liquidity to the Bancor protocol. If funds are kept in Bancor for over 100 days, and they were exposed to IL, they would be subsidized with BNT at the time of withdrawal for the equivalent amount of value lost (which the user is free to convert back to YFI). In practice, this means that you don't have to worry about IL if you stake more than 100 days with Bancor. - -### Bancor: YFI/BNT Single-Sided Protected Pool - -Bancor is an AMM like Sushiswap and Uniswap, but with one key difference which was rolled out in Bancor v2.1. Bancor now has IL protection *if* you stay in the pool for longer than 100 days. This protection starts at 30 days and scales to full protection over 100 days. Currently, incentivized rewards for the YFI pool have stopped, but there is a [proposal](https://gov.bancor.network/t/proposal-re-enable-lm-rewards-on-yfi/1838) to bring them back, and if it gets approved it will mean higher yields on this YFI pool. - - -#### Site - -[Bancor YFI Pool](https://app.bancor.network/eth/portfolio/stake/add/single/0xAeB3a1AeD77b5D6e3feBA0055d79176532e5cEb8) - -#### Tools - -- [Ceazor's Guide to Bancor v2.1: YFI/BNT Single-Sided Protected Pool](https://youtu.be/LhLMhizDNwE?t=23) -- [Bancor Documentation](https://docs.bancor.network/) -- [Bancor Dune dashboard](https://duneanalytics.com/Bancor/bancor_1) -- [Bancor v2.1 Staking for (DeFi) Dummies](https://blog.bancor.network/bancor-v2-1-staking-for-defi-dummies-f104a6a8281e) -- [Zap into YFI/BNT Single-Sided Protected Pool](https://zapper.fi/invest?protocol=bancor&contractAddress=0x555981b82743aa443cb1c3002c85ba9d795d4596&modal=legacy-invest) - -#### Risks - -Bancor smart contract risk and trusting the [bancor v2.1 model](https://blog.bancor.network/proposing-bancor-v2-1-single-sided-amm-with-elastic-bnt-supply-bcac9fe655b). Bancor is [audited](https://docs.bancor.network/ethereum-contracts/security). - -##### Insurance - -For DeFi insurance, you would only need to insure Bancor to have full coverage in case of a smart contract bug that led to the loss of funds. - -#### APY - -APY: 3.7% -Calculation: Last month, annualized. -Source: Bancor Team - -- [YFI Pool APY](https://duneanalytics.com/queries/30793/62118): Single click on each pool until only YFI is left. This will show APY stats for the pool. - -___ - -## ***[Collateralized Debt Position](https://defipulse.com/blog/what-is-a-cdp)*** - -CDP-based protocols allow you to deposit your YFI in exchange for a lesser amount of the protocol-issued token, which is usually a stablecoin. You can then use the issued token to farm and generate yield. Using this method is more time-intensive than the others and requires constant monitoring of the CDP to make sure you're above the liquidation ratio. Also, it requires you to use the stablecoins minted to find yield elsewhere and manage that as well. - -In this section, we use collateral ratio which is a percent. What this means is if the collateral ratio is 69%, like in Unit Protocol's case, then if the price of your YFI deposited for minting stablecoins is worth $1000, the max you will be able to mint in their stablecoin is $690. Note that this is the *MAX* you can borrow and if it goes above this ratio you will get liquidated -- we suggest you borrow far below this so that doesn't happen to you. - - -### MakerDAO -MakerDAO is the oldest and longest-running Dapp for taking a loan out with your cryptocurrency. You can use your YFI at MakerDAO to mint DAI stablecoin and then use that DAI to yield farm with. - -#### Site -- [Oasis.app](https://oasis.app/borrow) - -#### Tools -- [DeFiSaver](https://app.defisaver.com/): help manage your CDP health ratio - -#### Risks -Risk of liquidation if your CDP goes above a collateral ratio of 57%, smart contract failure for Makerdao, oracle failure, and smart contract failure of the protocol where you deposit or lend out your DAI. - -#### Insurance -For DeFi insurance, you would need to insure MakerDAO and also the protocol where you lend out or deposit your DAI stablecoins to in order to have full coverage in case of a smart contract bug that led to the loss of funds. - -#### APY -APY: -5.5% + (21.07% * 0.44) = 3.7708% -Calculation: Dai Fee - (Stablecoin Yield Farm APY (Zap to v2 crvIB yVault) * % of DAI you can mint and be safe). -Sidenote: For borrowing DAI you need to pay a 5.5% annual fee to MakerDAO. This is an example but you could yield farm anywhere. -Source: [Oasis App Borrow - Select collateral type YFI-A](https://oasis.app/borrow) - -### Unit Protocol -Unit Protocol is a CDP platform similar to MakerDAO, except this one, lets you mint USDP stablecoin instead of DAI. With Unit, they have a collateral ratio of 69% which is higher than MakerDAO and they have been audited, but they are a newer platform. - -#### Site -- [Unit Protocol](https://unit.xyz/) - -#### Tools -- [Documentation](https://docs.unit.xyz/) -- [Ceazor Video Tutorial](https://youtu.be/zlFBeoTHJUs?t=33) - -#### Risks -Risk of liquidation if the collateral ratio exceeds 69%, smart contract failure for Unit Protocol, oracle failure, and smart contract failure for where you lend or deposit your USDP to. You can find their audits [here](https://github.com/unitprotocol/protocol_docs). - -#### Insurance -For DeFi insurance, you would need to insure Unit Protocol and wherever you lend out your USDP stablecoins to in order to have full coverage in case of a smart contract bug that led to the loss of funds. - -#### APY -APY: -5.5% + (21.07% * 0.53) = 5.67% -Calculation: 5.5 annual fee from unit + (yield from using the [v2 crvIB yVault](https://yearn.finance/vaults/0x27b7b1ad7288079A66d12350c828D3C00A6F07d7) * % of USDP you can mint and be safe). -Sidenote: You can use your USDP anywhere if you find a higher yield, we use the USDP vault at Yearn as an example. -Source: [Unit Protocol](https://unit.xyz/asset/0x0bc529c00c6401aef6d220be8c6ea1667f6ad93e) - -___ - -## ***Lending & Borrowing*** - - -In this section, we cover the platforms that allow you to lend out your YFI, or to use your YFI as collateral to borrow stablecoins, or other tokens, which you can then use to farm with. This differs from opening a CDP which lets you mint stablecoins at a fixed yearly rate whereas lending and borrowing are usually variable rate. In this category, you have to not only worry about where to lend out the stablecoins you borrow but also both the borrow and lending rates as well as the utilization rate of the pool. If the YFI pool you are lending your YFI to is fully utilized, meaning people are borrowing every YFI that was lent, then you will have to wait to withdrawal until there is free liquidity in the pool to do so. - -### Cream Finance -Cream.Finance is a decentralized lending protocol. You can borrow stablecoins against your YFI for up to 50% of your total collateral. - -#### Site -- [Cream.Finance](https://app.cream.finance) - -#### Tools -- [Cream Documentation](https://docs.cream.finance/) -- [Ceazor Video Tutorial: Getting Paid to Lend while Borrowing](https://youtu.be/AJx_TH3CMZc?t=598) - -#### Risks -Risk of liquidation if you go over 50% collateral ratio, smart contract failure for Cream Finance, oracle failure, and smart contract failure for where you lend or deposit your stablecoins to. Also, you need to manually check that the APY on your yield farm exceeds that of your borrowing APY or you will lose money. You can find their audit [here](https://docs.cream.finance/audit-report). - -#### Insurance -For DeFi insurance, you would need to insure Cream Finance and wherever you lend out your stablecoins to in order to have full coverage in case of a smart contract bug that led to the loss of funds. - -#### APY -APY: 0.27% - 18.81% + (60.30% * .39) = 4.977% -Calculation: Supply APY (YFI) - Borrow APY (USDC) + (Stablecoin Yield Farm APY (Zap to v1 crvEURS yVault) * % of stablecoin you can borrow and be safe). -Sidenote: This is an example but you could yield farm anywhere. -Source: [Cream](https://app.cream.finance) and [Yearn](https://yearn.finance/vaults/0x98B058b2CBacF5E99bC7012DF757ea7CFEbd35BC) Yields. - -### Iron Bank -The Iron Bank is just like Cream v1, but they are more selective of the assets they list and they let white-listed protocols borrow funds with little or no collateral such as Alpha Homora v2 and Yearn Finance. Because protocols can borrow with little collateral, utilization rates in Iron Bank tend to be higher than at CREAM or AAVE. - -#### Site -- [Iron Bank](https://v1.yearn.finance/lending) - -#### Tools -- [Iron Bank Documentation](https://docs.cream.finance/iron-bank/collateral-and-reserve-factor) - -#### Risks -Risk of liquidation if you go over the posted collateral ratio, smart contract failure for Iron Bank, oracle failure, and smart contract failure for where you lend your borrowed stablecoins out to. You can find their audit [here](https://github.com/trailofbits/publications/blob/master/reviews/CREAMSummary.pdf). - -#### Insurance -For DeFi insurance, you would need to insure Ironbank and wherever you lend out your stablecoins to, to have full coverage in case of a smart contract bug that led to the loss of funds. - -#### APY -APY: -Calculation: -Source: -Note: Currently you cannot borrow against your YFI on Ironbank but this could change in the future. - -### AAVE -AAVE is another place where you can take a loan out on your YFI. You can borrow up to 40% in other coins at AAVE. AAVE has both fixed and variable rates for borrowing stablecoins, whereas at MakerDAO and Unit it is always 5.5%. It is possible to get a cheaper rate at AAVE for borrowing stables but you need to watch both your collateral levels and the borrowing rate if it is not variable when taking a loan out here. - -#### Site -- [AAVE](https://app.aave.com/) - -#### Tools -- [Ceazor Video Tutorial: AAVE v2](https://youtu.be/eMP_uIwniHc?t=46) -- [Ceazor Video Tutorial: Getting Paid to Lend while Borrowing](https://youtu.be/AJx_TH3CMZc?t=407) - -#### Risks -Risk of liquidation if you go over 40% collateral ratio, smart contract failure for AAVE, oracle failure (uses Chainlink), and smart contract failure for where you lend your stablecoins out to. You can find their audits [here](https://docs.aave.com/developers/security-and-audits). - -#### Insurance -For DeFi insurance, you would need to insure AAVE and wherever you lend out your stablecoins to, to have full coverage in case of a smart contract bug that led to the loss of funds. - -#### APY -APY: 0.11% - 3.98% + (60.30% * .31) = 14.83% -Calculation: Supply APY (YFI) - Borrow APY (TUSD) + (Stablecoin Yield Farm APY (Zap to v1 crvEURS yVault) * % of stablecoin you can borrow and be safe) -Sidenote: This is just an example. You can borrow any stablecoin and use it at the yield farm of your choice. -Source: [AAVE - YFI](https://app.aave.com/deposit/YFI-0x0bc529c00c6401aef6d220be8c6ea1667f6ad93e0xb53c1a33016b2dc2ff3653530bff1848a515c8c5) - -___ - -## ***Liquidity Providing*** - -This section discusses strategies that expose you to impermanent loss, and you also have to provide liquidity to both sides of the AMM pool. **If you want to stake YFI, you will also have to add an equal $ amount of ETH as well.** - -### Sushiswap YFI/WETH Pool -Sushiswap is an AMM which generally has higher yields than Uniswap as its pools are subsidized with SUSHI rewards. - -#### Site -- [Sushiswap](https://app.sushi.com/yield) -#### Tools -- [YFI Sushi pools](https://analytics.sushi.com/tokens/0x0bc529c00c6401aef6d220be8c6ea1667f6ad93e) -- [apy.vision YFI/ETH Sushi Pool](https://app.apy.vision/pools/sushiswap_eth-YFI-WETH-pool-0x088ee5007c98a9677165d78dd2109ae4a3d04d0c) -- [Zap into Sushiswap YFI/WETH Pool](https://zapper.fi/invest?protocol=sushiswap&contractAddress=0x088ee5007c98a9677165d78dd2109ae4a3d04d0c&modal=invest) - -#### Risks -Impermanent Loss, smart contract risk for Sushiswap. - -#### Insurance -For DeFi insurance, you would only need to insure Sushiswap to have full coverage in case of a smart contract bug that led to the loss of funds. - -#### APY -APY: 39.08% -Calculation: Yearly APY from staking your YFI/WETH sushi SLP token at sushi. -Source: [Sushiswap Yield](https://app.sushi.com/yield) - -### Uniswap v2 YFI/WETH Pool -Generally on AMM's such as Uniswap, Bancor, and Sushiswap you want to be in the pool with the most volume as that means more fees for liquidity providers. On average Sushiswap has more liquidity than Uniswap so generally, it would be better to LP there, but Uniswap could have better yields than Sushiswap. - -#### Site -- [Uniswap YFI/WETH Pool](https://app.uniswap.org/#/add/0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2/0x0bc529c00C6401aEF6D220BE8C6Ea1667F6Ad93e) - -#### Tools -- [Zapper Uni YFI/WETH](https://zapper.fi/invest?protocol=uniswapV2&contractAddress=0x2fdbadf3c4d5a8666bc06645b8358ab803996e28&modal=invest) -- [IL Calculator for YFI/WETH Pair](https://app.sommelier.finance/pair?id=0x2fdbadf3c4d5a8666bc06645b8358ab803996e28&timeWindow=total): This can help show how much you will gain or lose if you started to LP in this pool at a certain date. -- [Uniswap Analytics YFI/WETH](https://info.uniswap.org/pair/0x2fdbadf3c4d5a8666bc06645b8358ab803996e28) -- [Apy.vision YFI/WETH](https://app.apy.vision/pools/uniswap_eth-YFI-WETH-pool-0x2fdbadf3c4d5a8666bc06645b8358ab803996e28) -- [Zap into Uniswap v2 YFI/WETH Pool](https://zapper.fi/invest?protocol=uniswapV2&contractAddress=0x2fdbadf3c4d5a8666bc06645b8358ab803996e28&modal=invest) - -#### Risks -Impermanent loss and smart contract risk are the concerns to be aware of when providing liquidity at Uniswap. - -#### Insurance -For DeFi insurance, you would only need to insure Uniswap to have full coverage in case of a smart contract bug that led to the loss of funds. - -#### APY -APY: 20.79% -Calculation: Last 30 days annualized after subtracting IL. -Source: [apy.vision](https://app.apy.vision/pools/uniswap_eth-YFI-WETH-pool-0x2fdbadf3c4d5a8666bc06645b8358ab803996e28) - -### Pickle.Finance pSUSHI YFI/WETH jar -Pickle is a type of vault-like Yearn's (called jars) that will let you auto-compound your SUSHI rewards from the SUSHI YFI/WETH pool and they also give you PICKLE as extra rewards for staking with them. - -To deposit with Pickle.Finance you need to stake your SLP (Sushiswap LP token) into their pickle jar [here](https://app.pickle.finance/jars) and then deposit it into their farm [here](https://app.pickle.finance/farms). You can now also lock PICKLE for DILL, boosting your PICKLE rewards earned in the farm by up to 2.5x. - -#### Site -- [Pickle.Finance Farm](https://app.pickle.finance/farms) -- [Pickle.Finance Jar](https://app.pickle.finance/jars) - -#### Tools -- [Dill boost calculator](https://app.pickle.finance/dill) -- [Ceazor's tutorial: Yearn Zap into yveCRV-ETH Pickle Farm](https://youtu.be/Q3HELI9TfjQ?t=25) - -#### Risks -Impermanent Loss on the Sushiswap LP position, smart contract risk for Pickle.Finance and Sushiswap. - -#### Insurance -For DeFi insurance, you would need to insure both Sushiswap and Pickle.Finance to have full coverage in case of a smart contract bug that led to the loss of funds. - -#### APY -APY: 43% not boosted, 58% fully boosted. -Calculation: APY, Fully boosted is boosted by locking PICKLE for DILL -Source: [Pickle.Finance Farms](https://app.pickle.finance/farms) - -___ - -## ***Leveraged Liquidity Providing*** -In this section, you can be subject to impermanent loss, and you will have to watch your debt ratios to make sure you are not liquidated. - -### Alpha Homora v2 -Alpha Homora v2 lets you take your Uniswap or Sushiswap LP token and deposit it with them to farm with up to 1.75x leverage. With Alpha Homora you can farm these pools with 1 asset (basically auto-zaps to the other asset in the pool), they automate all steps with 3 transactions, and farmed tokens in the pool get auto-compounded like at pickle.finance. In the same way that pickle.finance will give you PICKLE if you use their Farm product, if you use leverage to farm AMM pools (Uniswap or Sushiswap) Alpha Homora will give you ALPHA on top of the yield you would normally receive as shown [here](https://alphafinancelab.gitbook.io/alpha-homora/where-does-apy-come-from-for-each-pool). - -#### Site -- [Alpha Finance](https://homora.alphafinance.io/farm) - -#### Tools -- [Documentation](https://alphafinancelab.gitbook.io/alpha-homora/) -- [Ceazor Video Tutorial](https://youtu.be/WKW8TsTyGOg?t=41) - -#### Risks -Risk of liquidation if your debt ratio exceeds 60% LTV (Loan to Value), smart contract failure for Alpha Homora v2, smart contract failure for which pool you are leveraging (Uniswap or Sushiswap). You can find their audits [here](https://github.com/peckshield/publications/blob/master/reviews/PeckShield-Security-Review-Alpha-Homora-v1.0.pdf). - -#### Insurance -For defi insurance you would need to insure Alpha Finance and the AMM that you're using, to have full coverage in case of a smart contract bug that led to the loss of funds. - -#### APY -APY: 75.38% -Calculation: This is at 1.5x leverage on the Sushi ETH/YFI Pool. -Source: [Alpha Homora - Farm](https://homora.alphafinance.io/farm) diff --git a/Articles/_posts/Gemini/Yearn Finance and Money Robots/2021-03-25-Yearn-Finance-and-Money-Robots.md b/Articles/_posts/Gemini/Yearn Finance and Money Robots/2021-03-25-Yearn-Finance-and-Money-Robots.md deleted file mode 100644 index 23772b921..000000000 --- a/Articles/_posts/Gemini/Yearn Finance and Money Robots/2021-03-25-Yearn-Finance-and-Money-Robots.md +++ /dev/null @@ -1,79 +0,0 @@ ---- -layout: post -title: "Yearn Finance and Money Robots" -categories: [ Articles ] -image: ./Yearn-Finance-and-Money-Robots/image1.png -author: Gemini/Cryptopedia -translator: -publish: true ---- - -original publication: [https://www.gemini.com/cryptopedia/yearn-finance-defi-lending-protocol](https://www.gemini.com/cryptopedia/yearn-finance-defi-lending-protocol) - -# Yearn Finance and Money Robots: Automated DeFi Strategy - -Yearn Finance offers a suite of investment strategies powered by robots that contain “wisdom sourced from the crowd” — Yearn’s own community. - -![alt_text](image1.png) - -## Summary - -Yearn Finance money robots execute investment strategies across decentralized finance (DeFi) platforms with the aim of generating the highest returns with the lowest risk. The strategies deployed include providing assets for lending, earning project tokens with yield farming, providing liquidity, or a combination of these and other investment strategies across a wide range of DeFi lending protocols. The Yearn protocol allows you to easily take part in complex investing strategies by providing tokens to the platform. Its expanding suite of products is intended to simplify investing in DeFi and is gaining traction with investors. - -## Contents - -- Yearn.Finance: yVaults -- yVault Strategy Case Studies: GUSD -- A Suite of DeFi Products -- Wisdom of the Crowd - -Yearn Finance develops products that automate and aim to simplify the complexity of decentralized finance (DeFi) with “money robots” that work to maximize returns for a fee. Yearn started with just one [Ethereum](https://www.gemini.com/cryptopedia/ethereum-smart-contracts-tokens-use-cases) developer — [Andre Cronje](https://www.gemini.com/cryptopedia/glossary#andre-cronje) — who sought to automate and optimize his own DeFi returns. It has now evolved into one of the most active and engaged decentralized communities on Ethereum with a focus on developing increasingly innovative ways to generate returns. - -Money robots refer to automated trading strategies executed by Yearn across Ethereum-based DeFi platforms. There are countless investment strategies that can be deployed across a growing number of DeFi protocols. For example, a Yearn money robot can earn trading fees on the [Curve protocol](https://www.gemini.com/cryptopedia/curve-crypto-automated-market-maker), borrow money using [Aave’s flash loans](https://www.gemini.com/cryptopedia/aave-flashloans), and lend assets to [Compound](https://www.gemini.com/cryptopedia/compound-finance-defi-crypto). - -## Yearn.Finance: yVaults - -The most popular products in the Yearn ecosystem are [yVaults](https://www.gemini.com/cryptopedia/glossary#y-vaults), a series of token pools that follow an investment strategy that is allocated across DeFi platforms. Depositing tokens into a yVault automatically mints a new [yToken](https://www.gemini.com/cryptopedia/glossary#y-tokens), which is a type of [liquidity provider (LP) token](https://www.gemini.com/cryptopedia/liquidity-provider-amm-tokens). LP tokens are automatically created when tokens are deposited into a [liquidity pool](https://www.gemini.com/cryptopedia/glossary#liquidity-pool) — and serve as a claim to a pool’s underlying assets. Each yToken can be redeemed at any time for the originally deposited tokens plus any rewards accumulated while the tokens were working in the yVault. - -For example, you can deposit [GUSD](https://www.gemini.com/cryptopedia/gusd-gemini-dollar-stablecoin-features) to the GUSD yVault and receive the LP token called yGUSD. When you exchange the yGUSD for the underlying GUSD, you receive that GUSD plus any earnings or rewards the GUSD accumulated from using the yVault’s strategy. Yearn’s yVaults compress complex layers of DeFi applications and components into a simplified trading strategy where investors provide assets and hold a token to participate in a sophisticated, algorithmic strategy. - -## yVault Strategy Case Studies: GUSD - -yVault strategies are fluid, and the Yearn community can decide to change or adjust a strategy as it becomes less profitable. In the yGUSD strategy for October 2020 — which has already been altered for optimization — the strategy earns yield for the yGUSD holder through the following steps: - -1. GUSD is deposited into a Curve pool made up of [stablecoins](https://www.gemini.com/cryptopedia/what-are-stablecoins-how-do-they-work) GUSD, [DAI](https://www.gemini.com/cryptopedia/dai-stablecoin-what-is-dai-token), USDC, and USDT to earn fees. -2. The LP token generated from the stablecoin pool is staked in Curve to earn the [CRV token](https://www.gemini.com/cryptopedia/glossary#crv-token). -3. 90% of the CRV tokens earned are sold for DAI. -4. DAI is deposited back to the original GUSD, DAI, USDC, USDT stablecoin pool to earn more fees. - -From the point of view of a user, the steps above take place under the algorithmic hood. This GUSD strategy itself is fairly simple as compared to more involved and sequentially complicated yVault strategies, which may involve borrowing money, using [leverage](https://www.gemini.com/cryptopedia/glossary#leverage), and maintaining exposure to market forces. - -For example, the yETH vault, which is still in an experimental stage as of December 2020 and not yet fully released, uses both the [MakerDAO](https://www.gemini.com/cryptopedia/makerdao-defi-mkr-dai-coins) and Curve protocols in its strategy. With the yETH strategy, ETH holders remain exposed to the price appreciation (or depreciation) of ETH while earning yield through the following steps: - -1. ETH is deposited to MakerDAO as collateral. -2. DAI is borrowed from MakerDAO using the deposited ETH as collateral. -3. The borrowed DAI is deposited to the yDAI vault. -4. The yDAI vault deposits DAI to Curve in order to earn fees. -5. The LP token generated from the DAI pool is staked in Curve to earn the CRV token. -6. The CRV tokens are sold for ETH. -7. ETH is deposited back to MakerDAO as collateral. - -Because the yETH vault borrows DAI from MakerDAO, there is the risk of getting liquidated — or having the money robot sell your ETH in order to repay your DAI loan. Liquidation occurs when the value of ETH collateral falls below the minimum 150% threshold of the value of borrowed DAI. In order to avoid liquidation, the yETH money robot aims to keep the value of ETH collateral at a safe 200% compared to the value of DAI debt. If the value of ETH collateral starts to fall below the 200% target, the money robot will automatically pay off some of the DAI debt to remain over-collateralized. Managing debt, collateral, and liquidation adds an additional layer of complexity to Yearn’s vaults. - -It’s important to recognize the yVault strategy’s risk compounds as it becomes more complex by virtue of reliance on more protocols and platforms. Strategies like the yETH example also have the risks inherent in using leverage as well as the risks of liquidation and smart contract failure. - -## A Suite of DeFi Products - -The Yearn suite of products is an ever-expanding and evolving set of DeFi products. Besides the various yVault strategies, Yearn offers multiple active products that together form its ecosystem. - -Other Yearn products include the yEarn application which focuses on using stablecoins like DAI and putting them to work in high-interest lending pools on Compound or Aave. Another product, Zap, is designed to reduce transaction costs in Ethereum by combining what would have been various manual transactions into one more complex, single-click transaction. The yInsure feature provides insurance for smart contracts as a safeguard in the event of a vulnerability or flaw in the code. - -There are also a multitude of products currently in the research and development stage, including yTrade for leveraging trades, yLiquidate to automate liquidations, and yBorrow for loans. Yearn has thus far proven fertile ground for research and development, and its product offerings will likely continue to expand as the DeFi space matures. - -## Wisdom of the Crowd - -A Yearn money robot executes a strategy plan for investment of digital assets: how to allocate them, where to put them, when to move them, and when to sell them. In fact, anyone can come up with a new strategy by posting it on the Yearn governance forum and explaining the logic and potential returns to the community. If approved by the community, the strategy will be implemented and the strategy creator earns fees — profiting from their successful strategizing. - -Even though the DeFi space features many automated and algorithmic mechanisms throughout its various platforms, Yearn money robot strategies are created and influenced by community members. Yearn’s community management, distributed “[fair launch](https://www.gemini.com/cryptopedia/what-is-yearn-finance-yfi-coin-yearnfinance)” of its highly-scarce [YFI platform governance tokens](https://www.gemini.com/cryptopedia/glossary#yfi-token), and collaborative nature present a timely reminder of human ingenuity and efficacy, even in the age of automated algorithms. With Yearn, ideas can come from anywhere and wisdom is sourced from the crowd. The effectiveness of that wisdom is constantly tested, iterated, and improved in real-time with real money. - -Yearn Finance presents a unique proposition of layering, interoperability, and crowdsourcing in DeFi. It is an experiment in automated investing and product development, in incentives and coordination. And, it’s an experiment to see if a decentralized community with a broad mandate to optimize returns can effectively do so without organizational conflict. While many DeFi platforms focus on disintermediating legacy players and systems, Yearn’s innovation is to act as an intermediary bringing together the decentralized community and disparate platforms for the benefit of their users. diff --git a/Articles/_posts/Medium/Andre Cronje/Decentralized Payroll Management for DAOs/1.jpg b/Articles/_posts/Medium/Andre Cronje/Decentralized Payroll Management for DAOs/1.jpg deleted file mode 100644 index 561efbb0d..000000000 Binary files a/Articles/_posts/Medium/Andre Cronje/Decentralized Payroll Management for DAOs/1.jpg and /dev/null differ diff --git a/Articles/_posts/Medium/Andre Cronje/Decentralized Payroll Management for DAOs/2021-03-31-Decentralized-Payroll-Management-for-DAOs.md b/Articles/_posts/Medium/Andre Cronje/Decentralized Payroll Management for DAOs/2021-03-31-Decentralized-Payroll-Management-for-DAOs.md deleted file mode 100644 index 4ffe80414..000000000 --- a/Articles/_posts/Medium/Andre Cronje/Decentralized Payroll Management for DAOs/2021-03-31-Decentralized-Payroll-Management-for-DAOs.md +++ /dev/null @@ -1,43 +0,0 @@ ---- -layout: post -title: "Decentralized payroll management for DAOs" -categories: [ Articles ] -image: ./Decentralized-Payroll-Management-for-DAOs/andre-hero.png -author: Andre -translator: -publish: true ---- - -# Decentralized payroll management for DAOs - -DAO's don't have top down management. There is no HR department. There are no contracts and no salary negotiations. How do you properly incentivize and reward contributors? - -When the yearn DAO first started, it adopted governance weighted salaries (I use the term loosely, since technically they are once off, once per month grants, if you don't contribute the following month, no grant). Governance weighted salaries where simply proposals set up by community members, where they proposed that contributor X should receive Y payment. These require active management and need monthly DAO votes / approvals. This doesn't scale well. - -To address the scaling and overhead problems, the yearn team built [Coordinape](https://coordinape.com/), these are my favorite kind of products since they originate out of a personal need, but can be generalized to help any other organizations / DAO's struggling with a similar problem. - -What is [Coordinape](https://coordinape.com/), simply put anyone wishing to contribute to yearn (or their own DAO) can register (currently using github details), every epoch (for yearn 1 month), you can select the team members you have been working and interacting with, below, yearn contributors; - -![](1.jpg) - -For example, my interactions below (members I marked as having interacted with this past epoch); - -![](2.jpg) - -Now each member has a set amount of allocation points, and can allocate points to the contributors they have worked with based on what they think of their contributions. - -So if we look at the current epoch contributions we see the following; - -![](3.jpg) - -Each line is an allocation from one member to the next. This builds up a contributor graph that is weighted towards the members that have the most interactions and allocations. - -Now simply, during the epoch, yearn earns Y amount in fees / contributions / rewards / etc, this accrues to the Coordinate contributor contract, at the end of the epoch contributors can claim their grant based on their contributions in the epoch. - -**Conclusion** - -[Coordinape](https://coordinape.com/) allows decentralized teams and DAO's without top down management or HR to autonomously allocate and reward contributors with funds, all done via sybil resistant social graphs. - -Decentralized payroll for flat organizations. - -The project is currently still closed source, however the team are actively looking to engage with other DAO's and organizations, should you have any interest or queries, please reach out to [@tracheopteryx](https://twitter.com/tracheopteryx) diff --git a/Articles/_posts/Medium/Andre Cronje/Decentralized Payroll Management for DAOs/andre-hero.png b/Articles/_posts/Medium/Andre Cronje/Decentralized Payroll Management for DAOs/andre-hero.png deleted file mode 100644 index d893e5d19..000000000 Binary files a/Articles/_posts/Medium/Andre Cronje/Decentralized Payroll Management for DAOs/andre-hero.png and /dev/null differ diff --git a/Articles/_posts/Medium/Andre Cronje/Fair launches, decentralized collaboration, and Fixed Forex/2021-07-21-Fair-launches-decentralized-collaboration-and-Fixed-Forex.md b/Articles/_posts/Medium/Andre Cronje/Fair launches, decentralized collaboration, and Fixed Forex/2021-07-21-Fair-launches-decentralized-collaboration-and-Fixed-Forex.md deleted file mode 100644 index baee86f6a..000000000 --- a/Articles/_posts/Medium/Andre Cronje/Fair launches, decentralized collaboration, and Fixed Forex/2021-07-21-Fair-launches-decentralized-collaboration-and-Fixed-Forex.md +++ /dev/null @@ -1,103 +0,0 @@ ---- -layout: post -title: "Fair launches, decentralized collaboration, and Fixed Forex" -categories: [ Articles ] -image: ./Fair-launches-decentralized-collaboration-and-Fixed-Forex/andre-hero.png -author: Andre -translator: -publish: true ---- - -# Fair launches, decentralized collaboration, and Fixed Forex - -**\-Fair launches-** - -It took awhile for me to finally realize the essence behind a fair launch. It isn’t giving the tokens away, it isn’t because there was no presale, simply put, it was because everyone had the same advantage, everyone had the same ruleset, there was no secret “friends and family” round, seed rounds, influencer allocation, there were no whitelists, no capped participation, the rules were provided, and anyone could participate. I finally feel comfortable in saying a fair launch, is a launch in which all participants have the same ruleset. - -**\-Decentralized collaboration-** - -I still see a lot of tribalism, I guess that’s understandable, I never understood how people became so tribal over sport teams, I’ve started to wonder how much of that tribalism is because of betting on the teams, afterall, that’s what crypto is, betting on your favorite team. Just like I never understood the tribalism in sports, I also don’t understand it in crypto. By my standards, I simply see “right” and “wrong”, doesn’t matter if its a team I’m associated with or not, if I see the “right”, I praise it, if I see the “wrong”, I scold it. - -But I think some teams, often discount the value in collaboration, its something I always enjoyed about yveCRV, and by extention, its clones, stCRV and cvxCRV, its the product of collaboration between curve, yearn, sushi, and pickle. It can’t exist without all those entities. Same reason before yveCRV, the y pool was my pride and joy, it was the collaboration between curve, yearn, aave, compound, and dydx. - -With this in mind, I realized, to continue to succeed, products can’t be isolated, they need to be an amalgamation of products and teams. My original iteration of Fixed Forex was standalone, unupgradable, ungovernable, without any value extraction, and tokenless. - -**\-Fixed Forex-** - -We keep talking about disrupting exchange control, we keep talking about disrupting fiat, in their own way, Tether and Circle did more for disrupting exchange control, than crypto did, exchange control tends to have a simple rule, money can’t leave its territory without special permission. Both Tether and Circle take deposits locally, the fiat never leaves the bank account, thus no exchange control (in theory, in practice and regulation its a very different story). So let’s consider you want to make a payment from the US to Korea, from USD to KRW, a “simple” path, would be deposit USD for USDT, transfer USDT to Upbit, swap USDT for KRW, withdraw KRW. - -Fixed Forex is designed to accomplish the above without end users being aware or knowledgeable of the steps, Fixed Forex has two core components, forex on-chain liquidity, and decentralized fiat on and off ramps. - -While I am most excited about the latter, its go-live date is only possible after we achieve on-chain liquidity. So for purposes of this article, we will explain how Fixed Forex works, and how users can participate. - -**\-Iron Bank Fixed Forex (ibff)-** - -Fixed Forex leveraged Iron Bank, Yearn, Sushi, and Curve - -![](image1.jpg) - -**Disclaimers;** - -- Unaudited. -- 0 benefit for early participation, only risk. -- The initial token distribution will be a fraction of the emission, this serves only for testing purposes. -- Given the incredibly low initial distribution, do not buy these tokens, do not provide liquidity for these tokens, you will lose money. - -Fixed Forex is the collective name for USD, EUR, ZAR, JPY, CNY, AUD, AED, CAD, INR, and any other forex pairs launched under the Fixed Forex moniker. - -The first available option is [ibEUR](https://www.coingecko.com/en/coins/iron-bank-euro) which can be minted via [yearn.fi/lend](https://yearn.fi/lend) - -![](image2.png) - -All forex options can be minted via any of the accepted collateral on [yearn.fi](https://yearn.fi/lend) - -![](image3.png) - -For up to date collateral factors, you can visit the Iron Bank documentation, [here](https://docs.cream.finance/iron-bank/collateral-and-reserve-factor) - -Each forex pair will target 2 liquidity pools; - -ib\*/\* ([curve.fi](https://curve.fi/)) -ib\*/ETH ([sushi.com](https://sushi.com/)) - -![](image4.png) - -For each asset, liquidity providers will have four available yield options; - -1. Provide ib\* to [yearn.fi/lend](https://yearn.fi/lend) and earn interest (currently 6.38%) -2. Provide ib\*/ETH to [sushi.com](https://sushi.com/) (currently 390%) -3. Provide ib\*/\* to [curve.fi](https://curve.fi/) (pool pending) -4. Stake in Iron Bank Fixed Forex and earn the native token IBFF (vested, veIBFF) - -\-veIBFF- - -The IBFF mechanism is complex, and should be carefully understood before participating. - -The initial launch will target only a single pool, [ibEUR/ETH](https://analytics.sushi.com/tokens/0x96e61422b6a9ba0e068b6c5add4ffabc6a4aae27) - -As an LP you can stake the LP token in the IBFF [faucet](https://etherscan.io/address/0x7d254d9adc588126edaee52a1029278180a802e8), this provides a fractional token drip, this is required to create a token lock in the vesting contract, [veIBFF](https://etherscan.io/address/0x4d0518c9136025903751209ddddf6c67067357b1). - -The system’s true native token is veIBFF, or vested IBFF, veIBFF earns protocol fees, these fees are dynamic based on supply and demand. Currently, these fees are 10.15% of TVL. - -IBFF owners can choose to create a vesting lock, up to 4 years, with linear decay on the veIBFF [contract](https://etherscan.io/address/0x4d0518c9136025903751209ddddf6c67067357b1) - -Once a lock has been created, LPs can stake ibEUR/ETH in the distribution [contract](https://etherscan.io/address/0x1da8a6fe33bd35b99505d67843eec9fa124f2d4b), the distribution contract will distribute tokens every 7 days linearly. - -Distribution tokens are rewarded based on your vesting lock. If the vesting lock is 1 years, you receive 1/4 tokens as veIBFF, which will become unlocked in 1 year. The remainder 3/4 tokens is distributed to the fee distribution [contract](https://etherscan.io/address/0x83893c4a42f8654c2dd4ff7b4a7cd0e33ae8c859). - -veIBFF holders have two weekly claims, claim 1 is protocol accumulated fees (10.15% of TVL currently), and distributed IBFF from the [distribution contract](https://etherscan.io/address/0x83893c4a42f8654c2dd4ff7b4a7cd0e33ae8c859). - -Simply put, the greater your time investment, the more disproportionate your reward. - -**Disclaimers;** - -- Unaudited. -- 0 benefit for early participation, only risk. -- The initial token distribution will be a fraction of the emission, this serves only for testing purposes. -- Given the incredibly low initial distribution, do not buy these tokens, do not provide liquidity for these tokens, you will lose money. - -**Links;** - -[Forum](https://gov.yearn.finance/c/projects/fixed-forex/26) -[Website](https://yearn.fi/lend) -No social media diff --git a/Articles/_posts/Medium/Andre Cronje/Fair launches, decentralized collaboration, and Fixed Forex/andre-hero.png b/Articles/_posts/Medium/Andre Cronje/Fair launches, decentralized collaboration, and Fixed Forex/andre-hero.png deleted file mode 100644 index d893e5d19..000000000 Binary files a/Articles/_posts/Medium/Andre Cronje/Fair launches, decentralized collaboration, and Fixed Forex/andre-hero.png and /dev/null differ diff --git a/Articles/_posts/Medium/Andre Cronje/Fair launches, decentralized collaboration, and Fixed Forex/image2.png b/Articles/_posts/Medium/Andre Cronje/Fair launches, decentralized collaboration, and Fixed Forex/image2.png deleted file mode 100644 index 3497e616a..000000000 Binary files a/Articles/_posts/Medium/Andre Cronje/Fair launches, decentralized collaboration, and Fixed Forex/image2.png and /dev/null differ diff --git a/Articles/_posts/Medium/Andre Cronje/Fair launches, decentralized collaboration, and Fixed Forex/image3.png b/Articles/_posts/Medium/Andre Cronje/Fair launches, decentralized collaboration, and Fixed Forex/image3.png deleted file mode 100644 index c84b10cef..000000000 Binary files a/Articles/_posts/Medium/Andre Cronje/Fair launches, decentralized collaboration, and Fixed Forex/image3.png and /dev/null differ diff --git a/Articles/_posts/Medium/Andre Cronje/Fair launches, decentralized collaboration, and Fixed Forex/image4.png b/Articles/_posts/Medium/Andre Cronje/Fair launches, decentralized collaboration, and Fixed Forex/image4.png deleted file mode 100644 index ac52294bd..000000000 Binary files a/Articles/_posts/Medium/Andre Cronje/Fair launches, decentralized collaboration, and Fixed Forex/image4.png and /dev/null differ diff --git a/Articles/_posts/Medium/Andre Cronje/Introducing Fixed Forex/2021-07-02-Introducing-Fixed-Forex.md b/Articles/_posts/Medium/Andre Cronje/Introducing Fixed Forex/2021-07-02-Introducing-Fixed-Forex.md deleted file mode 100644 index 94ebda5c8..000000000 --- a/Articles/_posts/Medium/Andre Cronje/Introducing Fixed Forex/2021-07-02-Introducing-Fixed-Forex.md +++ /dev/null @@ -1,45 +0,0 @@ ---- -layout: post -title: "Introducing Fixed Forex" -categories: [ Articles ] -image: ./Introducing-Fixed-Forex/andre-hero.png -author: Andre -translator: -publish: true ---- - -# Introducing Fixed Forex (USD, EUR, ZAR, JPY, CNY, etc) - -**Disclaimer;** - -- No token -- Audit has not been completed -- Contract is experimental - -**Key features;** - -- 0 governance (or multisig) -- 0 configuration -- 0 fees -- 0 value extraction -- Gentle liquidations -- Dynamic minting caps based on on-chain liquidity -- Dynamic LTVs based on on-chain protocols - -**Fixed Forex** - -Fixed Forex is designed to be an immutable, 0 fee, 0 governance, decentralized stable coin framework. - -LTVs (Loan-to-value ratios) are derived from Compound, Aave v1, Aave v2, and Iron Bank. As these systems add or update their accepted collateral, so does Fixed Forex dynamically update. - -Minting caps (how much liquidity a user can mint against a given collateral) are derived from available on-chain liquidity, the higher the on-chain liquidity, the higher the minting caps. - -Fixed Forex introduces gentle liquidations, the absolute minimum amount of debt is repaid to bring a users position back to even, no more worrying about the full stack being liquidated during draw down events. - -For purposes of this release, the contract will not be verified on etherscan, however, you can find the address and ABI below; - -[0x92FC8E6EfdF389e2527d14393b15F543f9a03420](https://etherscan.io/address/0x92fc8e6efdf389e2527d14393b15f543f9a03420) - -[ABI](https://gist.github.com/andrecronje/4ce11e8603a7f61af4619a86647db1d4) - -The full release will be based on curve.fi’s crypto pools, to allow for a decentralized forex market. diff --git a/Articles/_posts/Medium/Andre Cronje/Introducing Fixed Forex/andre-hero.png b/Articles/_posts/Medium/Andre Cronje/Introducing Fixed Forex/andre-hero.png deleted file mode 100644 index d893e5d19..000000000 Binary files a/Articles/_posts/Medium/Andre Cronje/Introducing Fixed Forex/andre-hero.png and /dev/null differ diff --git a/Articles/_posts/Medium/Andre Cronje/Liquidity Mining Rewards v2/2021-08-15-Liquidity-Mining-Rewards-v2.md b/Articles/_posts/Medium/Andre Cronje/Liquidity Mining Rewards v2/2021-08-15-Liquidity-Mining-Rewards-v2.md deleted file mode 100644 index 9b0ef03eb..000000000 --- a/Articles/_posts/Medium/Andre Cronje/Liquidity Mining Rewards v2/2021-08-15-Liquidity-Mining-Rewards-v2.md +++ /dev/null @@ -1,78 +0,0 @@ ---- -layout: post -title: "Liquidity Mining Rewards v2" -categories: [ Articles ] -image: ./Liquidity-Mining-Rewards-v2/andre-hero.png -author: Andre -translator: -publish: true ---- - -# Liquidity Mining Rewards v2 - -Concept, and architecture by [pods.finance](https://www.pods.finance/) - -[LM call option rewards contract](https://twitter.com/AndreCronjeTech/status/1426580528510251008) - -## **History** - -Liquidity Mining / Rewards / Incentives, whatever you want to call them, are innately part of crypto. Even proof of work (mining) is providing something for rewards (in proof of work, providing security \[or rather electricity\] for crypto) - -The first (to my knowledge) to provide rewards for liquidity was [synthetix.io](https://synthetix.io/), this started with the `sETH/ETH` pool, which eventually moved to the `sUSD` [curve.fi](https://curve.fi/) pool. If you provided liquidity to these pools, you were rewarded with SNX (the native Synthetix token). - -The somewhat legendary [StakingRewards](https://github.com/Synthetixio/synthetix/blob/develop/contracts/StakingRewards.sol) contract, was originally developed in partnership with Anton from [1inch.exchange](https://1inch.exchange/). This contract became the base for what is liquidity mining as we know it today. - -## **Problem Statement** - -As liquidity mining grew, some, non deal-breaking, flaws became apparent. I believe the following two to be the most destressing; - -- Liquidity locusts (or loyalty), also referred to as "stickiness" -- Token loyalty, or opportunistic dumping - -Liquidity quickly disappears when incentives cease, and aggressive liquidity programs can often have a detriment on the token price, which, while I believe the latter to not necessarily be a bad thing (since it entirely depends on the tokenomics / purpose), from public perception, it is clear, when price goes down, a project is a scam. - -## **Problem Example** - -I believe, at its core, the problem is the "something for nothing" problem. If you receive something for nothing, you will simply bank your profits. Let's take [curve.fi](https://curve.fi/) as a practical example, if you provide liquidity in the form of DAI/USDC/USDT to the 3pool, you receive CRV rewards. For the sake of this example, lets assume the liquidity provider is a liquidity locust, so they are only interested in receiving CRV and immediately selling it for more DAI/USDC/USDT. - -The reason for this, is that they received "something" for practically "nothing". Provide liquidity, get rewarded, that simple. - -## **Quick Intro to Options** - -Going to try to keep this simple, there are two options, a `PUT` (the right to sell), and a `CALL` (the right to buy). In this case, you can think of a `PUT` as a market sell, and a `CALL` as a market buy. So continuing with using CRV, for purpose of simplicity, lets say CRV is trading at $2. A `CALL` option with a `strike price`of $2, would allow me to buy CRV at $2, a `PUT` option with a `strike price`of $2, would allow me to sell CRV at $2. - -For the rest of this article, we will only focus on CALL, the right to buy. So an option has 3 basic properties; - -- What are you buying? (In our example CRV) -- What is the `strike price`? (aka, how much are you paying for it? In our example $2 ~ or 2 DAI) -- When is the `expiry`? (normally some future date, in our example, expiry was `current timestamp/now`) - -## **Liquidity Mining as Options** - -Keeping with our [curve.fi](https://curve.fi/) example, if you provide liquidity and you claim CRV as rewards, this can be seen as exercising a CRV CALL option with `strike price` $0, and `expiry` now. When you start thinking about it in terms of CALL options, all of a sudden it gives the project a lot more power, per example, now a project could offer it as; - -- strike price = spot - 50% -- expiry = current date + 1 month - -At its most basic level, we could simply say, `expiry` = now and `strike price` = spot - 50%, what would this mean? Let's say the liquidity miner, mined 1000 CRV, instead of simply receiving the CRV CALL option at `strike price` $0 and `expiry` now (1000 tokens for free), now instead they would receive the right to purchase 1000 CRV at $1000. Even if they are a liquidity locust, they would still be incentivized to do this, since they still make $1000 profit (trading value 1000 CRV @ $2 =$2000 - $1000 purchase). - -The "profits" ($1000 in above example), can now be distributed to veCRV holders, or go to the foundation, treasury DAO, etc. These funds could even be used to market make and provide additional liquidity. - -Now, lets take it one step further, and add a future expiry, lets say 1 month, now for argument sake, everyone that was receiving liquidity was claiming and dumping, so 1 month alter the price is $1, but the CALL option price was also $1, so at this point, there is no reason for the "dumper" to claim the option anymore, since they wouldn't make additional profit. So this further means that it set an additional price floor for the received tokens. As these tokens will simply not be claimed (can even be sent back to the DAO) - -## **Conclusion** - -Making a few simple modifications to the existing StakingRewards contract allows us to add the above functionality, while keeping the same UX and user experience. - -Prototype code available [here](https://gist.github.com/andrecronje/6c3da8b294488001adeda528f70bc301) - -By switching to Options Liquidity Mining instead of traditional Liquidity Mining it means; - -- Decreased liquidity locusts -- Decrease selling pressure -- Natural price floor (twap - discount % over epoch) -- Additional fee revenue for DAO/token holders - -## **Attribution** - -Thank you to [pods.finance](https://www.pods.finance/), @josephdelong, and [sushi.com](https://sushi.com/) team for coming up with this concept and sharing it with me diff --git a/Articles/_posts/Medium/Andre Cronje/Liquidity Mining Rewards v2/andre-hero.png b/Articles/_posts/Medium/Andre Cronje/Liquidity Mining Rewards v2/andre-hero.png deleted file mode 100644 index d893e5d19..000000000 Binary files a/Articles/_posts/Medium/Andre Cronje/Liquidity Mining Rewards v2/andre-hero.png and /dev/null differ diff --git a/Articles/_posts/Medium/Andre Cronje/Why Audits Are Bad/1.png b/Articles/_posts/Medium/Andre Cronje/Why Audits Are Bad/1.png deleted file mode 100644 index 6d0f69fa5..000000000 Binary files a/Articles/_posts/Medium/Andre Cronje/Why Audits Are Bad/1.png and /dev/null differ diff --git a/Articles/_posts/Medium/Andre Cronje/Why Audits Are Bad/2021-08-03-Why-Audits-Are-Bad.md b/Articles/_posts/Medium/Andre Cronje/Why Audits Are Bad/2021-08-03-Why-Audits-Are-Bad.md deleted file mode 100644 index a5f58cd97..000000000 --- a/Articles/_posts/Medium/Andre Cronje/Why Audits Are Bad/2021-08-03-Why-Audits-Are-Bad.md +++ /dev/null @@ -1,39 +0,0 @@ ---- -layout: post -title: "Why audits are bad" -categories: [ Articles ] -image: ./Why-Audits-Are-Bad/andre-hero.png -author: Andre -translator: -publish: true ---- - -# Iron Bank Fixed Forex audit: Why audits are bad - -I wanted a sensationalist title. An audits role on public perception is bad, an audit for personal use, is good. - -Nowadays you'll see audits being requested, not to be reviewed, but simply as a line item. "Is the project audited? \[Yes\] \[No\]", often, the link to the audit won't even be required, simply \[Yes\]\[No\]. - -Let's use Fixed Forex as an example, "Is the project audited?" \[Yes\], and here is the [audit](https://github.com/andrecronje/fixed-forex-audit/blob/main/PeckShield-Audit-Report-ERC20-ibEUR-v1.0.pdf). You might have even opened the link, and then you might have even scrolled down to the findings; - -![](1.png) - -Great right? 1 low and 1 informational. But now let's look at it contextually, this is essentially an ERC20 contract, and while it does show that ibEUR and subsequent ib-assets are a simple ERC20 implementation, what about the rest of the ecosystem? - -[ibEUR gauge](https://etherscan.io/address/0x9d7ca778d067045a9d6b871c9d28589875308018) -[ibKRW gauge](https://etherscan.io/address/0x8992fd229b574b8083de1249bc6fd3711fda45dd) -[Voting](https://etherscan.io/address/0xd9c8620c0c0b866b7b5180d2d70093165340326d) -[Faucet](https://etherscan.io/address/0x7d254d9adc588126edaee52a1029278180a802e8) -[ibEUR/ETH distribution](https://etherscan.io/address/0x1da8a6fe33bd35b99505d67843eec9fa124f2d4b) -[ib rewards](https://etherscan.io/address/0x83893c4a42f8654c2dd4ff7b4a7cd0e33ae8c859) -[Fee distribution](https://etherscan.io/address/0x27761efeb0c7b411e71d0fd0aee5dde35c810cc2) - -Now, its very easy for me to have left it at a simple tweet, "Fixed Forex audit report", and be done with that, and this is why, even in the past, I hated sharing audit reports, we use them as a stamp of approval, non-technical individuals use it as confirmation that they are "safe". Nothing about what we are doing is safe, nothing about what we are trying to do is easy, and we have no future guarantees. - -Decentralization is a responsibility, not a right, real decentralization is incredibly hard, and almost impossible to happen over night. - -There is real elegance in truly being able to own your funds, but there is an inherent responsibility. - -Teams should use audits to supplement, its the same reason peer coding works well, or even a simple peer review, but audits are not a stamp of approval, audits are not a guarantee, and audits are not a safety net. - -In fact, if I saw an audit like the above, where a team said they are "audited" and all they did was audit their ERC20, I would be even more cautious. diff --git a/Articles/_posts/Medium/Andre Cronje/Why Audits Are Bad/andre-hero.png b/Articles/_posts/Medium/Andre Cronje/Why Audits Are Bad/andre-hero.png deleted file mode 100644 index d893e5d19..000000000 Binary files a/Articles/_posts/Medium/Andre Cronje/Why Audits Are Bad/andre-hero.png and /dev/null differ diff --git a/Articles/_posts/Medium/Wot Is Goin On/Can Yearn Disrupt/2021-04-07-Can-Yearn-Disrupt-the-110-Trillion-Asset-Management-Industry.md b/Articles/_posts/Medium/Wot Is Goin On/Can Yearn Disrupt/2021-04-07-Can-Yearn-Disrupt-the-110-Trillion-Asset-Management-Industry.md deleted file mode 100644 index 330ec61a3..000000000 --- a/Articles/_posts/Medium/Wot Is Goin On/Can Yearn Disrupt/2021-04-07-Can-Yearn-Disrupt-the-110-Trillion-Asset-Management-Industry.md +++ /dev/null @@ -1,369 +0,0 @@ ---- -layout: post -title: "Can Yearn disrupt the $110 trillion asset management industry?" -categories: [ Articles ] -image: ./Can-Yearn-Disrupt-the-110-Trillion-Asset-Management-Industry/img-Wot_Is_Goin_On.png -author: Wot_Is_Goin_On -translator: -publish: true ---- - -# Can Yearn disrupt the $110 trillion asset management industry? - -**Summary** - -1. The asset management industry has [$110 trillion](https://www.pwc.com/gx/en/industries/financial-services/assets/wealth-management-2-0-data-tool/pwc_awm_revolution_2020.pdf) assets under management (AUM). -2. Yearn is not directly comparable to an asset manager in traditional finance but a comparison with Blackrock is helpful for understanding where its revenues come from and its early setbacks. -3. There are over $300 billion of tokenized assets on Ethereum which are growing rapidly. -4. Yearn is leading the innovation in risk-adjusted yields putting it in pole position to benefit from the rise of assets on Ethereum. This will likely lead to Yearn’s AUM increasing significantly over time. -5. Being a DeFi protocol gives Yearn advantages unavailable to other crypto asset managers, such as Grayscale and Celsius. In particular, its permissionless nature allows integration with other protocols, such as the recent one with Alchemix. - -**Introduction** - -DeFi has been growing explosively for 3.5 years, according to [DeFiPulse](https://defipulse.com/) from less than $2m Total Value Locked (TVL) in Q3 2017 to $44.6bn in Q1 2021. [Defillama](https://defillama.com/home) has Ethereum’s Q1 2021 TVL at $68.5bn. Uniswap’s trading volume exceeded Coinbase’s for the month of [September 2020](https://www.theblockcrypto.com/linked/79775/uniswap-coinbase-monthly-volume-september). The question is no longer whether DeFi will disrupt traditional finance, but which DeFi protocols will be the disrupters? - -![](image1.png)Growth in DeFi TVL has been explosive for 3.5 years¹ - -Yearn is an asset management protocol on Ethereum. At Q1 2021 it managed $1.8bn of Ether, stablecoins and DeFi tokens. But that was last week, it’s now [$2.5bn](https://yearn.science/). - -Yearn allows you to deposit your crypto into a “vault” which automatically uses DeFi protocols to earn a yield. The strategies deployed range in complexity from simply depositing your crypto onto a lending protocol, to taking a loan against your crypto and investing the loan in another strategy or taking an uncollateralized loan from another protocol to leverage returns. The recent launch of v2 vaults goes one step further and means your crypto can earn a yield from multiple strategies in the same vault. - -1. **The asset management industry** - -In traditional finance assets gravitate towards a few well known asset managers. Whilst the industry is by no means winner-takes-all, it is highly concentrated. - -![](image2.png)The asset management industry is measured in $trillions AUM and highly concentrated ([June 30th 2020 data](https://www.advratings.com/top-asset-management-firms)) - -Yearn does not have a direct comparable in traditional asset management. It’s not a bank, but it earns yields from lending. It’s not a hedge fund, but it carries out active strategies. - -**2\. Similarities to Blackrock** - -**Revenue sources** - -74% of Blackrock’s Q3 2020 revenue came from investment advisory, fees and securities lending. Yearn’s revenues can be categorized in a similar way. - -![](image3.png) - -Similar sources of revenue. Different technologies. - -One standout feature of how Yearn is structured is the outsourcing of strategies. Incentivizing strategists is what differentiates Yearn, a scalable asset management platform, from one team, or initially one person, trying to keep up with all the innovations in DeFi. - -**Early setbacks** - -It would be remiss of me to compare Yearn to the largest global asset manager without acknowledging two recent setbacks: - -- Issues around how to incentivize contributors led to [debate within the community](https://gov.yearn.finance/t/yip-57-funding-yearns-future/9319) and resulted in the minting of 6,666 YFI (over $200m) -- Yearn suffered an [$11m exploit](https://www.coindesk.com/yearn-finance-dai-vault-exploit)— [depositors have since been made whole](https://cointelegraph.com/news/after-yearn-exploit-attacker-funds-frozen-and-reimbursement-plans-developing) - -Coincidentally, Larry Fink (CEO of Blackrock) experienced similar early setbacks: - -- In 1994, Fink and his co-founder had an internal dispute over methods of compensation and equity -- Before Blackrock he lost $100m at Boston First due to poor risk management practices - -Two takeaways: - -- Incentivizing people is difficult and usually requires compensation. This is true for most organizations, be they companies or protocols. -- Risk management is hard. Losses due to poor risk management practices are not unique to DeFi on Ethereum, or because of the particular programming language used. - -**The power of DeFi** - -How Yearn was able to deal with these issues demonstrates the benefits of DeFi on Ethereum: - -- how cheap it is — more than $200m capital raised for $33 -- transparency — anyone can view the [transaction](https://etherscan.io/tx/0x21a3007a2547a9d6f1bceb44cb9292b36079fcccd8f36f7ec1ca066db261e153) shown below on Etherscan -- no middleman — no need for Goldman Sachs or Morgan Stanley - -![](image4.png) - -A $200m+ capital raise on Ethereum is extremely cheap - -While fans of “Ethereum killers” talk up what is possible in the future, huge transactions are already happening on Ethereum to solve real-world problems — in this case incentivizing contributors to grow the protocol. - -Following the Dai vault exploit, Yearn chose to reimburse those who lost funds — despite not being contractually obliged to do so. The funds for reimbursement could have come from selling the newly minted YFI for Dai or by taking out a collateralized loan. Yearn decided on the latter, and again the [transaction](https://etherscan.io/tx/0xdd102623987cfb7a401d4880d0524478a795fb269c380c876bb9990dd69c2f0d) demonstrates the advantages of Ethereum: - -- $155 to take out a $9.7m collateralized loan -- No paperwork -- No humans required — just a purple rabbit - -![](image5.png) - -Taking a $9.7m collateralized loan on Ethereum is extremely cheap - -Comparing an asset management protocol on Ethereum to the largest global asset manager could be considered premature. After all, Yearn is restricted to the assets on Ethereum whereas Blackrock is not. So let’s analyse the assets on Ethereum. - -**3\. The rise of assets on Ethereum** - -**Ether ($200bn+)** - -Ether is by far the largest asset on Ethereum and recently became a [top 50 global asset](https://companiesmarketcap.com/) by market capitalization. - -![](image6.png)A $200bn+ market cap makes Ether a top 50 global asset - -**What can you do with ETH and how does Yearn fit in?** - -In 2017/18 you could send ETH to a friendly team who had written an excellent whitepaper. If you were lucky, that team was led by Sergey Nazarov (Chainlink), Stani Kulechov (Aave) or Kain Warwick (Synthetix). Most investors weren’t so lucky as many teams did not deliver beyond the whitepaper. - -Now it’s 2021, things have moved on. You have the following options for your ETH each with its own risk-reward profile: - -- Hold it in cold storage or a hot wallet if you consider the price volatility of ETH risky enough without taking on additional risks to earn a yield -- Hold Grayscale’s Ethereum Trust which gives you ETH price exposure in a tax advantaged account, but charges a fee -- Hold it on a centralized exchange ready to trade it -- Deposit it in the ETH 2.0 [staking contract](https://etherscan.io/address/0x00000000219ab540356cbb839cbe05303d7705fa) and operate an ETH 2.0 validator to earn yield -- Deposit it on a lending protocol, such as Aave, Compound Finance or dydx to earn an interest from collateralized lending (and flashloan fees) -- Use it to open a Collateralized Debt Position on [MakerDao](https://oasis.app/borrow), and use the Dai to earn a yield or to trade -- Deposit it on Curve Finance to earn trading fees and rewards from the [ETH:sETH pool](https://curve.fi/pools) -- Deposit it in Curve Finance’s [steth pool](https://curve.fi/pools) and then deposit the liquidity provider (LP) token in Yearn’s [crvSTETH vault](https://yearn.finance/vaults/0xdCD90C7f6324cfa40d7169ef80b12031770B4325) to earn a yield (made up of LDO and CRV rewards) -- Combine it with your favourite ERC-20 to earn trading fees (and liquidity mining rewards) on Uniswap or Sushiswap - -ETH has become a productive asset. But the future of France does not involve individuals assessing the risks and rewards of all the choices above on a regular basis and making expensive transactions on Ethereum. People have better things to do and (on average) each new person coming into DeFi is going to understand less than the previous one. They’re not going to put the hours in to chasing down every yield farm that pops up. - -This is where Yearn comes in. Yearn finds the best risk-adjusted yield for your ETH (that works at scale). - -**DeFi tokens ($93bn)** - -DeFi tokens are the newest type of asset on Ethereum. - -![](image7.png) - -Valuable governless tokens - -DeFi tokens consist predominantly of DeFi governance tokens whose protocols produce cashflows. The protocols are in various stages of working out how much of these cashflows should be returned to the token holders. - -Each DeFi token has its quirks as their communities try to find ways of incentivizing people to grow the protocol in a way that will help the protocol (and ultimately the token’s price). For example: - -- Maker (MKR) incentivizes you to vote on which collateral types can be onboarded and which parameters should be chosen -- Synthetix (SNX) incentivizes you to mint sUSD and use it to trade on their synthetics platform -- Aave (AAVE) has its safety module incentivizing you to vote against the onboarding of assets that are deemed too risky -- Compound Finance (COMP) wants you to vote on interest rate model updates -- Curve Finance rewards locking of CRV with half of the 0.04% trading fees, and uses the time value of the locked CRV to vote on the reward distribution between pools -- Hegic rewards you with fees from options trading, provided you can stake 888,000 tokens -- Sushi wants you to stake for xSushi to earn 0.05% of the volume traded -- UNI controls protocol fee switch and can force early transition to an open-source license - -The value of these tokens has increased significantly over the last year as the market puts a greater value on tokens representing a transparent and fair (to the extent that each wallet is treated the same) financial system that is available to anyone with an internet connection. The cashflows help too. - -![](image8.jfif) - -DeFi protocols recently surpassed $1bn in total revenue (Token Terminal) - -**Stablecoins** - -The most popular stablecoins represent 1 USD and come in different forms, such as collateralized by crypto (e.g. Maker’s Dai), custodial (e.g. USDC) or algorithmic (e.g. AMPL). - -Stablecoins are moving to Ethereum where they can earn a yield from lending, trading or liquidity mining. It is difficult to see these stablecoins being converted back to fiat when traditional banks are paying [close to 0%](https://twitter.com/mattysino/status/1379368078979391488?s=20). This goes some way to explaining why the stablecoin supply on Ethereum grew 600% over the last 12 months. - -![](image9.png) - -People are preferring stablecoins on Ethereum to dollars in the bank ([https://duneanalytics.com/hagaetc/stablecoins](https://duneanalytics.com/hagaetc/stablecoins)) - -You can now earn a yield on stablecoins by providing liquidity to protocols. Either deposit them on a lending protocol, for example, on Aave or Compound Finance or on an AMM such as Curve Finance. - -One problem with depositing stablecoins on Aave or Compound Finance is that you will not always be earning the highest yield of the two. The original Yearn protocol solved this problem in early 2020 by automatically moving stablecoins to the highest yielding lending protocol. - -Yearn’s stablecoin strategies have come a long way since early 2020 and now the protocol earns interest from lending, trading fees, [Curve’s “boosties”](https://docs.yearn.finance/how-to-guides/how-to-understand-crv-vote-locking), liquidity mining rewards and leverage and converts it in to a yield for the user. More on these strategies later. - -**Tokenized bitcoin on Ethereum ($10bn)** - -Even bitcoin is finding its way to Ethereum. By end March 2021 there was more [bitcoin on Ethereum](https://btconethereum.com/) ($10bn) than that held by MicroStrategy ($5.4bn³) and Tesla ([$1.5bn](https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html)) combined. Mainstream media isn’t going to make it. - -![](image10.png) - -Tokenized bitcoin on Ethereum ([https://duneanalytics.com/queries/4962/9776](https://duneanalytics.com/queries/4962/9776)) - -Companies and protocols have developed ways for you to swap your bitcoin for a tokenized version of bitcoin. - -Representations of the “real thing” are often more useful in traditional finance too. For example, I can’t earn a yield with a £1 coin, but I can earn 1% APY with a £1 balance in my Santander account. With wBTC, the largest tokenized version of bitcoin, you can earn a yield in Yearn’s wBTC vault. The ability to earn a yield by lending your tokenized bitcoin means people increasingly prefer to own tokenized bitcoin on Ethereum despite the extra risks involved. - -If you want bitcoin exposure, what’s the alternative? HODL and tell everyone [hodling _is_ using bitcoin](https://twitter.com/danheld/status/1362794078518341637?s=20). Or earn a yield using a centralized service, such as BlockFi or Celsius. Your decision will depend on your risk-reward preferences. - -**What’s next?** - -Ether, DeFi tokens, stablecoins and tokenized bitcoin combine to form a $300bn+ addressable market for an asset management protocol on Ethereum. Are there signs of other asset classes making their way to Ethereum? - -**Synthetic equities** - -The chart below shows why equities matter. At [$95 trillion](https://www.cnbc.com/2020/11/12/global-stock-market-value-rises-to-a-record-95-trillion-this-week-on-vaccine-hope.html) the market cap is 50 times the size of the total crypto market cap. - -![](image11.png) - -Global equities 50x crypto market cap - -Synthetix was the first protocol to create synthetic crypto and traditional Finance indices. To many it was therefore a surprise that Mirror came and stole the show with their Mirrored Tesla (mTsla) synthetic equity on Terra (and also Ethereum). Their different approaches to creating liquid synths, reducing the cost of transactions and different protocol risks make this an interesting head-to-head. - -DeFi on Ethereum has battle-tested AMMs and lending protocols. They have worked fairly reliably for stablecoins and other ERC-20 tokens over a few years. As far as these protocols are concerned, synthetic equities will be just another ERC-20 token and treated the same as the stablecoins, DeFi tokens or tokenized bitcoin. The foundations have already been laid for you to be able to: - -- lend your synthetic equity in return for a yield -- earn trading fees -- use it as collateral to borrow against -- trade it for another token or -- leave it with Yearn to earn a yield for you - -By end 2021 you might be able to zap any ERC-20 token into a yield-bearing synthetic Tesla where the yield comes from mTsla/sTesla trading fees on Curve, lending on Aave, additional rewards from Ironbank leverage and a boost from [Yearn’s stack of veCRV](https://crv.ape.tax/). - -**Tokenized equities (non-synthetic)** - -Tokenized equities are one step closer to the “real” thing, because you have ownership of the stock. - -FTX offers [tokenized stocks](https://help.ftx.com/hc/en-us/articles/360051229472-Tokenized-Stocks) that are backed by shares of the stock, custodied by CM-Equity. Currently FTX does not allow these tokens outside of their platform, however, the comment “In the future, there may be other ways to withdraw the tokens from FTX” suggests this could change. Clearly SBF’s preference will be that they are withdrawn to Solana, but the DeFi protocols on Ethereum have the most traction so at least there will likely be a bridge there. - -One example of a tokenized equity already on Ethereum is the [wCRES token](https://defi.crescofin.ch/): “The wCRES token is a simple ERC20 token that conveys equity rights in CrescoFin to the tokenholder. There is no restriction on transferability and no need to undergo a KYC check.” Coincidentally, they’re also in the yield business and with Stani Kulechov as an advisor Aave is likely to be their first choice for earning that yield. - -These tokenized equities will bring another asset-type to Ethereum. Some protocols might accept custodied tokenized equities, other protocols might accept their synthetic counterparts. This, as well as arbitrage opportunities, will create demand for swapping from one to another, and that’s what Curve enables so well. It will then be up to an asset manager on Ethereum to find a way for you to earn trading fees and any additional rewards available in DeFi. That is what Yearn does best. - -**IPOs on Ethereum (slightly speculative)** - -Tokenizing equities that already exist is a huge step to increasing the addressable market of an asset manager on Ethereum. But what about new equities? - -Initial Public Offerings (IPOs) are expensive. The underwriting fees from a PWC report are shown below. Note that there’s no quote for deals under $25m, welcome to traditional finance. The column on the right shows the number of middlemen that could one day be disintermediated by using Ethereum. - -![](image12.png) - -[Underwriting fees](https://www.pwc.com/us/en/services/deals/library/cost-of-an-ipo.html) for IPOs in traditional finance - -During 2017/18 there were lots of scam Initial Coin Offerings (ICOs). There were so many because they were cheap to do, and there were lots of people with spare cash willing to take a gamble. - -But the narrative of there being lots of scams doesn’t tell the full story. It is now possible to carry out an IPO on Ethereum for a much lower cost. Lots of ICOs in 2017/18 turned out to be illegal securities, but the technology is just as good for legal securities too. So what will be the first high profile IPO on Ethereum? - -There have been only two so far (that I can find), both of which are related to Ethereum ([a fund](https://www.coindesk.com/ether-fund-ipo-3iq-tsx) and a [trading platform](https://token.inx.co/?_ga=2.105952771.1875400193.1615853639-1172741532.1615853639)). Ethereum is still considered risky, so don’t expect risk-averse companies to launch their IPOs on Ethereum any time soon. But for a smaller company that has a greater appetite for risk an IPO on Ethereum may be the best way to raise capital. - -**Bonds as well? (Very speculative)** - -Bonds are less risky than crypto and equities (measured by historic volatility). There’s more than [$100 trillion](https://www.icmagroup.org/Regulatory-Policy-and-Market-Practice/Secondary-Markets/bond-market-size/) of them. If ever, they will likely come last to Ethereum. No-one is pestering the Spartan Council for a synthetic 30-year US treasury, sTMUBMUSD30Y, to lock in 2.4% pa yield. However, there are signs of large traditional financial players testing the waters. - -![](image13.png) -History of bond issuance on blockchains ([Binance Research](https://research.binance.com/en/analysis/santander-bond), Coindesk) - -These institutions and companies are testing the technology because it is cheap. If it’s cheap it saves them money and gives them an edge against competitors. - -Like most assets, bonds are lent, borrowed and traded giving rise to interest and trading fees respectively. In traditional finance most of the interest and trading fees would go to a middleman. But imagine depositing a tokenized version of a 30-year treasury in a Yearn vault to earn an additional yield from people shorting and trading the bond. This may sound fanciful but the technology already exists, as far as Ethereum is concerned a bond would be another ERC-20 token (ok, maybe there’s some technicalities to be ironed out). Lending protocols would first need to accept the bond as collateral, and then Curve Finance (or another AMM) would need to create a liquidity pool where it could be traded and finally Yearn would need to build strategies for the bond. - -If issuing bonds turns out to be cheaper on Ethereum (along with all the other advantages) and over time the perception that using Ethereum is too risky changes, then it’s highly likely that more bonds will be issued on Ethereum. - -These institutions will not be quibbling over a $1,000 gas fee. - -**Assets in search of yield** - -Today there are more than $300bn of assets on Ethereum with the potential for many more. Yearn is well-placed to become the go-to asset manager for those willing to take on the additional risks of interacting with more protocols in search of higher yields. - -**4\. Yearn is leading the innovation in risk-adjusted yields** - -**Crypto yields before 0 B.C** - -Cronje wasn’t the first person to realise the importance of yield in crypto. BlockFi offered yields from institutional lending in 2017 and then Mashinsky “The Machine” introduced the CEL token as an incentivizing mechanism (and to distribute revenues more equitably amongst depositors). - -However, these are companies. They are centralized. - -The challenge that the DeFi entrepreneurs took up was to find a way of trading, borrowing and lending in a censorship-resistant way with code replacing the middleman. Even if the models replicated traditional finance they would have the advantages of transparency, no middlemen and available to anyone with an internet connection. - -![](image14.png)History of crypto yields before 0 B.C⁴ - -Compound Finance’s lending protocol was the first DeFi protocol that allowed you to earn a yield. However, it wasn’t until the [launch of the COMP](https://www.coindesk.com/compounds-comp-token-price-doubles-amid-defi-mania) token in June 2020 that usage skyrocketed. - -Synthetix deserves a special mention because they were the first DeFi protocol to use their token as an incentivizing mechanism to grow the protocol (unlike many protocols that even 2 years later, just give away tokens for staking that are then sold immediately). In other words, Synthetix is partly responsible for all the APYs quoted everywhere in DeFi — sometimes called yield farming, liquidity mining, or just earning rewards. - -In early 2020 Aave popularized flashloans and uses the fees to increase the depositors’ yield. Flashloans let you borrow without providing collateral, as long as you pay the loan back within the same block (13 seconds). Lots of exploits use flashloans giving them a bad rap for a couple of weeks after each exploit, but they are a useful stress test and make DeFi more robust in the longer term. - -Earning a yield in crypto saw 6 innovations in 7 years. And then came Cronje. - -When Cronje started working on Yearn v1 there were several problems that people had to overcome in order to interact with DeFi protocols. Even something as simple as switching funds between the highest lending protocols required: - -- enough ETH to pay for gas each time interest rates on the lending protocols varied materially -- an understanding of how the underlying lending protocols work -- an understanding of the risks involved -- a lot of time — both to check the yields and then to make the transactions - -![](image15.png)The problems with DeFi that Yearn helps to solve - -Initially Andre carried out these transactions manually. By aggregating capital the gas fees can be shared, not everyone needs to understand all the protocols at the same level of detail, and you can deposit your funds and let one person do the work. The challenge was to automate the process. - -**Innovations in automated yields** - -First of all Andre had to figure out how each lending protocol calculated the yield, which he explains [here](https://medium.com/iearn/how-we-built-on-chain-apr-for-ethereum-defi-a8d84b680758). Then he ran in to some problems which he explains [here](https://medium.com/iearn/yield-aggregator-problem-s-2-3-4-and-5-too-large-to-move-9a75432a50de). But it wasn’t long before Yearn was moving funds to whichever lending protocol had the highest yield. - -He then found a way for the protocol to earn additional trading fees by providing liquidity to Curve Finance. - -When the COMP token was launched, kicking off the yield farming summer of 2020, this meant that Yearn had to incorporate the price of COMP in to the yield calculations. - -When Curve introduced the concept of “boosties” for locking CRV, Yearn found a way of incentivizing people to lock their CRV indefinitely to earn a regular yield in a stablecoin pool (3CRV), which would boost the yields of Yearn’s depositors (the “[backscratcher](https://twitter.com/iearnfinance/status/1376912409688956932?s=20)”). - -But Andre was still not happy. There remained capital inefficiencies everywhere he looked, such as capital sitting idle in Cream Finance (a lending protocol in Yearn’s ecosystem). Say there’s 10m Dai sitting in Cream Finance and not being lent out (therefore earning no yield) and Yearn has a strategy that could earn 10% APY on Dai, even if only for a very short time. What if Yearn could borrow that Dai for a lower interest rate, earn the 10% APY, and pay the loan back either when the strategy no longer produced excess yield or when the depositor on Cream Finance wanted their Dai returned? That’s what Yearn does — not for its own benefit — but to increase the yields of depositors. It was a first in [protocol-to-protocol uncollateralized lending](https://creamdotfinance.medium.com/introducing-the-iron-bank-bab9417c9a). - -![](image16.png)Yearn’s innovations in yields - -The bar at the bottom of the diagram above represents an innovation in yields that came with the help of another ecosystem partner, Sushi. As a way of incentivizing people to lock their CRV indefinitely Yearn created a complex asset called yveCRV. However, there was no market for yveCRV so Yearn incentivized people to provide liquidity to yveCRV-ETH by offering rewards in Sushi. This turned an illiquid asset into a liquid one using an ecosystem partner. This is not your average DeFi protocol. - -**Yearn’s v2 vaults become multi-strategy** - -Despite all these innovations Yearn’s vaults contained one significant limitation. They could only run one strategy at a time. The magnitude of the problem, and its impact on scalability, was realised soon after the first ETH vault in September 2020 but it was not long before fubuloubu posted the vaults v2 design in Yearn Improvement Proposal 48 ([YIP-48](https://gov.yearn.finance/t/yip-48-vaults-v2-design/6658)). - -The vault re-design proposed in YIP-48 has now been implemented, audits have been carried out and new strategies are ready to go. - -The image below shows the yvDai vault earning a yield for depositors with 6 strategies in action at the same time (the strategy labels are in green). - -![](image17.jfif) - -Six strategies in one vault ([https://twitter.com/bantg/status/1377681238249574404?s=20](https://twitter.com/bantg/status/1377681238249574404?s=20)) - -Ceazor explains the different strategies [here](https://www.youtube.com/watch?v=Ur9bWz8SfOs). They’re getting complicated. - -The diagram below shows the inner workings of the GenericLevCompFarm strategy, where 57% of the yvDai vault is being deployed. - -![](image18.jpg) - -Diagram of the first strategy, GenericLevCompFarm, shown in banteg’s tweet above - -This is not just another DeFi protocol or yield aggregator. - -**Managing Risk** - -Although one of the common criticisms of yield aggregators is that a significant chunk of the yields is dependent on temporary rewards issued by DeFi protocols, even without these rewards there is no competition from traditional finance. Towards the end of 2020 [negative yielding debt hit $18 trillion](https://www.bloomberg.com/news/articles/2020-12-11/world-s-negative-yield-debt-pile-at-18-trillion-for-first-time#:~:text=About%20%241%20trillion%20of%20bonds,30%25%20peak%20reached%20last%20year). - -The greater challenge seems to be to reduce the real and perceived risks of interacting with the assets and protocols on Ethereum. People do not stick around with asset managers that lose their money. - -A key part of Yearn’s brand is its focus on security which Cronje prioritized in the first version in early 2020. Developers have to determine which protocols and strategies are trustworthy, think through potential economic exploits, limit deposits in to certain strategies and find ways of covering losses in case exploits do occur. The seriousness with which Yearn takes security and the speed with which it resolves issues that arise is evidenced by the detail in its [vulnerability disclosure reports](https://github.com/yearn/yearn-security/tree/master/disclosures) and the [system specification](https://github.com/yearn/yearn-vaults/blob/master/SPECIFICATION.md). Higher level risk controls are shown in the table below. - -![](image19.png)Prioritizing security from day 1 - -The yAcademy is my favourite from the list above because it illustrates the emergent nature of Yearn — and DeFi in general. It started with just some dev (Andre) writing some code (Yearn v1). People he didn’t know thought it was interesting and started interacting with it so he started a telegram group where it was discussed. Auditing the code was necessary, but expensive and slow, due to there being few people with the required skills and because it is hard and time-consuming. It’s still a bottleneck for the whole of DeFi, not just for Yearn. 9 months later Ali Atiia **(**@aliatiia\_) submits a [governance proposal](https://gov.yearn.finance/t/lets-poach-samczsun-and-plant-the-seed-for-an-auditing-academy/5507) (viewed by 2.3k people) for Yearn to develop an academy to train auditors. 2 months after the proposal, and a partnership with Gitcoin and Status in-hand, [YIP-53](https://gov.yearn.finance/t/yip-53-yacademy-planting-the-seed-of-a-sustainably-secure-future-for-yearn-and-beyond/7929) is submitted. This officially creates yAcademy with a budget and a detailed specification. - -This happened with no management. No HR department. No résumés. - -**Evidence of adoption** - -It’s one thing to describe how Yearn is leading the innovation in risk-adjusted yields, but ultimately the asset management industry uses one key metric, and that’s AUM (TVL in DeFi). This is up by 3x in the last quarter. At less than 1% of the assets on Ethereum, which are themselves growing at a rapid pace, there is still plenty of room for Yearn’s AUM to grow. - -![](image20.jfif)Yearn’s TVL hits $1.84b on 31st March 2021 — The Block (and banteg) - -**5\. Competition** - -Two of the largest crypto asset managers are Grayscale ([$45bn AUM](https://twitter.com/Grayscale/status/1377000118298275846)) and Celsius Network ([$14bn AUM](https://twitter.com/Mashinsky/status/1378340230265200644?s=20)). It’s natural to consider these as Yearn’s competitors because they are also competing for your crypto. However, this ignores how early we are. Blackrock’s AUM is $8.7 trillion, and the total AUM of the global asset management industry is $110 trillion. - -**Grayscale ($45bn)** - -Grayscale caters to a different user base. Grayscale’s trusts allow you to hold crypto in tax-advantaged accounts with a focus on security. Investors can hold the trust in their brokerage account so they do not have to worry about a private key. In return for the perceived security and tax saving, potential investors are willing to pay an annual management charge. - -Grayscale has [filed](https://www.coindesk.com/grayscale-files-to-register-trust-for-defi-platform-yearn-finance) to register a trust for YFI. If this goes ahead it would allow equity investors to get exposure to YFI. A more interesting synergy between the company and the protocol would be if Grayscale introduces trusts for Yearn’s vaults tokens— this could increase both Yearn’s and Grayscale’s AUM. For example, a yield-bearing yvETH trust could more than offset the fees charged by Grayscale. This may seem far-fetched but 9 months ago the YFI token didn’t exist — things move fast in crypto. yvETH may need to become liquid first, perhaps with help from Yearn’s ecosystem partner Sushi by incentivizing liquidity provision to the yvETH-ETH pair. - -**Celsius ($14bn)** - -Celsius Network has several licenses and appears to be doing its best to meet the latest regulations. It does not charge fees and is not restricted to assets on Ethereum which gives it a much greater addressable market than Yearn today. Celsius could be considered a competitor to Yearn because they are both asset managers competing for assets. - -However, if Yearn’s vaults earn the highest risk-adjusted yields in DeFi, then there’s no reason why Celsius could not use Yearn’s vaults. Celsius pays [17.8% APY](https://celsius.network/rates/) on [SNX](https://www.stakingrewards.com/earn/synthetix-network-token) and [Matic](https://www.stakingrewards.com/earn/matic-network) which is much more likely paid from staking rewards than from institutional lending (where the majority of their revenue comes from). It is not such a big leap for Celsius to go from staking SNX to earning a yield with Yearn. - -One key advantage that protocols have over companies is the composability of DeFi (“money legos”) and the permissionless nature of DeFi which means any protocol can use Yearn’s vaults. For example, the yvDai vault recently reached its limit (temporarily) because a new protocol, Alchemix, directed funds there. A new protocol Smoothy Finance has also integrated Yearn’s vaults into their AMM. These protocol-to-protocol integrations are not possible with Celsius and will likely be crucial to Yearn’s success. Yearn’s affiliate program incentivizes these integrations and it will be interesting to see the new protocols that utilize Yearn’s vaults in the future. - -Another example of Yearn benefiting from other protocols is the recent [proposal](https://forum.cream.finance/t/list-yearn-finance-v2-yvault-tokens-as-collateral-assets/1478) to list some of Yearn’s vault tokens on the lending protocol Cream Finance, another ecosystem partner. If approved, this will allow users to earn a yield on their crypto in Yearn’s vaults and use it as collateral for borrowing at the same time — improving the capital efficiency of DeFi. - -The information in this article does not constitute any form of advice or recommendation and is not intended to be relied upon by users in making (or refraining from making) any investment decisions or in interacting with DeFi protocols. - -Disclosure: I hold YFI and other crypto mentioned in this article. - -To learn more about Yearn join [discord](https://discord.gg/cxkXa6Px), the [telegram chat](https://t.me/yearnfinance) or follow Yearn on [Twitter](https://twitter.com/iearnfinance). - -¹ Note that the Yearn TVL on DeFiPulse is currently out of date. DeFiPulse has the longest history of total TVL across DeFi - -² Blackrock’s securities lending [description](https://www.blackrock.com/uk/individual/education/how-to-invest/securities-lending?switchLocale=y&siteEntryPassthrough=true) - -³ 90,859 bitcoins ([Reuters article](https://www.reuters.com/article/us-crypto-currency-microstrategy-idUSKCN2AT2H5)) at end March price of $59k is $5.4bn - -⁴ [BlockFi’s $15bn AUM](https://www.forbes.com/sites/ninabambysheva/2021/03/11/blockfi-gets-a-3-billion-valuation-with-new-350-million-series-d-funding/?sh=6105ca5b58a5) and protocol TVLs from [DeFillama](https://defillama.com/home) diff --git a/Articles/_posts/Medium/Wot Is Goin On/Can Yearn Disrupt/image1.png b/Articles/_posts/Medium/Wot Is Goin On/Can Yearn Disrupt/image1.png deleted file mode 100644 index d72110448..000000000 Binary files a/Articles/_posts/Medium/Wot Is Goin On/Can Yearn Disrupt/image1.png and /dev/null differ diff --git a/Articles/_posts/Medium/Wot Is Goin On/Can Yearn 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On [depositing your crypto](https://docs.yearn.finance/resources/guides/how-to-participate-in-a-yvault) into one of Yearn’s vaults, the protocol will begin generating a yield for you. - -![alt_text](image1.png) - -Although it is buried away midway through the list, Yearn’s Dai vault has become a top 20 DeFi protocol in its own right: - -- Earning 13.2% APY for depositors from January 31st to May 31st 2021 -- $639.1m TVL on May 31st (this would place it 17th on [DeFiPulse](https://defipulse.com/)) -- Allocating 14.4% of all circulating Dai at end May -- Generating $1.7m+ income for Yearn in May alone -- Running [8 strategies](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3) concurrently -- Integrations with Alchemix, PoolTogether, Crypto.com and used by Yearn’s other vaults -- Business as usual while [$1 trillion of crypto market cap was wiped out](https://edition.cnn.com/2021/05/22/investing/crypto-crash-bitcoin-regulation/index.html) over the last 2 weeks - -This article explains how the vault earns a yield, who comes up with the strategies and who actually uses the vault. - -Yearn’s Dai vault is also called the ‘Dai v2 vault’ and ‘yvDai’, where yvDai is the token representing your share of the Dai vault. - -# **Depositors come first at Yearn — 13% APY on $639m** - -Unlike in traditional finance where depositors are treated as a cheap source of funding, depositors come first at Yearn. This is one of the reasons why the TVL has increased rapidly since its inception. - -![alt_text](image2.png) - -[Total Value Locked in the Yearn Ecosystem — Grafana](https://yearn.vision/?refresh=1m) - -The two large jumps in TVL can be explained by the demand for Alchemix’s self-paying loans. More on the depositors later. - -# **Yearn’s Dai vault income exceeds $1.7m in May** - -Yearn earns income from a [2% annual management fee and 20% performance fees](https://docs.yearn.finance/yearn-finance/yvaults/overview) (and the strategists receive half of the performance fee). - -The net income from the Dai vault alone has shown explosive growth from under $10k in January to over $1.7m in May. - -![alt_text](image3.png) - -Numbers from [https://twitter.com/Bob_The_Buidler](https://twitter.com/Bob_The_Buidler) - -The income shown above is net of affiliation fees used to incentivize protocol integrations. - -Traditional financial institutions often don’t publish their results until up to 3 months after the valuation date. However, because Ethereum is a transparent public blockchain and [Bob](https://twitter.com/Bob_The_Buidler)’s put together a website that compiles all of Yearn’s transactions, we already know the income of the Dai vault for May. - -# **How does the vault generate income for its depositors?** - -At a high level Yearn’s vaults generate income in the three ways: - -- Lending -- Liquidity mining -- Trading fees - -This income is then increased using leverage. - -Lending, liquidity mining and trading fees are the yield generating opportunities in DeFi today. As DeFi grows, for example with perpetual protocols and options protocols, Yearn will be in a great position to take advantage of the new ways of earning yield that new protocols offer. - -**Lending** - -The original Yearn protocol was a yield optimizer that used the trusted lending protocols available at the time: Compound Finance, Aave and dydx. - -Now Yearn can also choose from Cream Finance, targeting the long-tail of assets, and Alpha Homora, which has simplified leveraged yield farming. - -Collateralised loans are usually the largest balance sheet item for banks, for example, [HSBC has £351bn of real estate loans](https://www.wsj.com/market-data/quotes/HSBC/financials/annual/balance-sheet). The difference is that in DeFi the collateral is crypto instead of real estate, therefore the LTVs need to be significantly lower in DeFi to reduce the risk of insolvency. DeFi lenders also charge high liquidation penalties to discourage borrowers from taking too much risk. - -HSBC does not disclose how many of their 226,059 employees are required to keep the interest rates updated, but in DeFi the interest rates are set according to a formula that is chosen by the lending protocols’ token holders. The graph below shows how Compound Finance sets the interest rate for Dai to be dependent on the utilization ratio. - -![alt_text](image4.png) - -[https://compound.finance/governance/proposals/18](https://compound.finance/governance/proposals/18) - -Although the collateral is crypto today, [real-world assets are on their way to DeFi](https://thedefiant.io/makerdao-will-soon-hold-real-world-assets-as-collateral/). - -**Liquidity mining** - -Liquidity mining involves rewarding users of the protocol with the protocol’s native tokens. I wrote about the different ways protocols incentivize behaviour in [section 3 here](https://medium.com/can-yearn-disrupt-the-110-trillion-asset-management-industry-8fea100cead0). - -Liquidity mining is used by DeFi protocols to: - -- Decentralize the protocol, thereby making it censorship resistant -- Bring liquidity (and attention) to the protocol, which creates a honeypot to entice hackers and test its security -- Distribute tokens to the users, so that the incentives of the owners and the users of the protocol are aligned. This increases the chances that the users and owners of the protocol will come together and build something useful and sustainable - -Yearn’s Dai vault earns: - -- CRV rewards which are then swapped for Dai in the single-sided Curve strategy -- COMP rewards by supplying Dai onto Compound Finance -- IDLE and COMP rewards by supplying Dai onto IDLE Finance -- ROOK rewards by supplying Dai to KeeperDAO -- POOL rewards by entering PoolTogether’s Dai lottery. On 23rd April the vault even won [$70k in the weekly lottery](https://app.pooltogether.com/prizes/mainnet/PT-cDAI/26) - -You can earn these rewards without Yearn and avoid paying fees but using Yearn has the following advantages: - -- A bunch of full-timers on-hand to find new protocols -- The recently established [YFI Safe Farming Committee](https://gov.yearn.finance/t/introducing-yearn-safe-farming-committee/10533) to check whether the contracts are secure -- Developers to codify the strategies -- Close monitoring of each of these strategies to quickly withdraw funds, or move funds to a higher returning strategy -- A team determining the optimal allocation across different strategies -- Able to spread the transaction fees across large amounts of capital. Ethereum charges the same gas fee to sell 0.1 COMP tokens for Dai on Uniswap or Sushiswap as it does 10 COMP tokens -- It is the largest holder of veCRV which is used to [boost the CRV rewards](https://docs.yearn.finance/resources/guides/how-to-understand-crv-vote-locking). To get the same level of rewards a user would have to lock a significant proportion of CRV tokens - -**Trading fees** - -Trading fees can be earned by supplying liquidity to automated market-makers (AMMs) such as Uniswap or Sushiswap, however, this gives rise to the risk of [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained). Yearn does not expose the Dai valt to impermanent loss using these AMMs because this gives rise to the risk of not being able to pay the depositors the same token that they deposited. - -However, Curve Finance is an AMM designed to allow the trading of pairs that are similarly priced (for example, Dai/USDT or Dai/USDC) and therefore has a low risk of impermanent loss. - -The single-sided CRV strategy earns trading fees from Curve Finance by providing Dai liquidity. - -**Leverage** - -It can be difficult to keep up with all the ways of accessing leverage in DeFi. Leverage itself is not a means of generating income, but it can be used to increase the yield if you can earn a higher rate than the cost of borrowing. - -Yearn uses the following approaches for the Dai vault: - -- Aave or dydx flashloans to increase the yields in the Leveraged COMP farming strategy -- Uncollateralised borrowing (from Cream’s Ironbank) for strategies that earn a higher income than the cost of debt - -In the Dai vault flashloans involve borrowing Dai, deploying it to earn an income and then paying it back in the same transaction. - -Uncollateralised loans from Ironbank was a first in protocol-to-protocol lending and borrowing. Essentially, the Ironbank protocol trusts that the Yearn strategies will be able to make enough income to pay back the loan’s interest. If you’re familiar with flashloans then uncollateralised lending from Ironbank can be viewed as a flashloan but over a longer period of time. - -See section [v2 DAI yVault (yvDAI)](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3) for the strategies in more detail. - -# **Who comes up with the strategies?** - -Yearn now has [30 full time contributors](https://twitter.com/bantg/status/1395115320344563713?s=20) but it’s the strategists who come up with ways of earning yield. They are incentivized by half of the performance fees earned by the vaults. - -The graph below shows how the strategists had earned over $5m by the beginning of May (across all vaults, not just Dai). - -![alt_text](image5.png) - -y-axis is in $m (source: [https://twitter.com/bantg](https://twitter.com/bantg)) - -# **Who actually uses Yearn’s Dai vault?** - -The largest depositors are not people, they are other protocols. - -![alt_text](image6.png) - -Alchemix is leading the way in Dai vault deposits - -The diversity of the Dai vault integrations discussed below shows: - -- What becomes possible with higher interest rates -- That the vaults have been designed with integrations in mind -- How incentivizing other protocols to integrate with affiliation fees can create win-win relationships with other protocols -- That the reliability of Yearn’s vaults means that developers are starting to come up with ways of building on top of them - -[**Alchemix**](https://alchemix.fi/) - -Alchemix lets you deposit Dai in return for alUSD credit, up to a 200% collateralisation ratio. The protocol then sends the Dai to Yearn’s Dai vault, where it can earn the highest risk-adjusted yields. The interest earned on the full amount of the collateral is then used to pay off your alUSD debt. - -Alchemix’s self-paying loans allow you to earn a yield on all of your investment whilst borrowing against it at the same time. - -You can listen to [Scoopy Trooples](https://twitter.com/scupytrooples) talk about Alchemix [here](https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5zaW1wbGVjYXN0LmNvbS9sS21RREc5Ug/episode/MzgzNDBkMDctZDk4Zi00ZmI1LThkMjYtMGM5MzgyZjMwNTdk?ep=14). - -[**PoolTogether**](https://app.pooltogether.com/?tab=pools) - -PoolTogether’s no-loss lottery earns interest using the Dai vault. Lotteries are just better on Ethereum — tamper-proof, provably random, transparent and the winnings can be paid immediately. - -As with many of the best ideas in DeFi, the idea to use Yearn’s Dai vault to earn interest came from a [governance forum post](https://gov.pooltogether.com/t/use-yearn-vaults-to-generate-a-higher-payout/639) (this one by reeserj). - -The UK’s biggest savings product is Premium Bonds, which is a no-loss lottery. More than [21 million people save over £107bn](https://www.moneysavingexpert.com/savings/premium-bonds/) in them, for the chance to earn their share of a [1% annual prize fund rate](https://www.nsandi.com/products/premium-bonds). - -That’s over £100bn ($140bn) addressable market from no-loss lotteries from the UK alone! That’s over 40 times Yearn’s current TVL. No doubt the addressable market would be a lot higher if the annual interest rate was greater than 1% too. - -For those saying that DeFi is in a bubble, the amount “saved” in 1% yielding UK Premium Bonds is more than twice the total TVL of all the DeFi protocols. - -**Crypto.com** - -Crypto.com, a multi-billion dollar centralized exchange with over 10m users, enables you to [earn interest from Yearn](https://help.crypto.com/en/articles/4933348-defi-earn-yearn-earn-v2). It offers an earlier version of Yearn’s Dai interest earning product. - -Integrations with centralized exchanges, which will have a completely different set of risk considerations compared to DeFi protocols, is a vote of confidence in Yearn’s vaults. - -[**Inverse Finance**](https://inverse.finance/) - -Inverse Finance allows you to earn a yield from the Dai vault that is [paid in the token of your choice](https://medium.com/inversefinance/inverse-finance-deposit-dai-earn-eth-bc5dda6d5867). This is perfect for people who want to have exposure to the volatile crypto market but don’t want to risk their principal (except for smart contract risk). - -**Yearn’s other vaults** - -You know you’ve designed a good product when you use it yourself, and that’s what Yearn does. One of the highest yielding strategies for Yearn’s wBTC, ETH and YFI vaults has been to mint Dai from MakerDAO, and then deposit the newly minted Dai in the Dai vault. These strategies rely on the cost of borrowing being below the Dai yield net of fees. - -[**Yearn’s Treasury (ychad.eth)**](https://t.co/T3ihkeTIQA?amp=1) - -Yearn’s treasury also uses the vaults to earn an interest on its holdings. At the time of writing other stablecoin vaults paid a higher APY but the Dai vault is also used. - -**Future integrations?** - -[**Saffron Finance**](https://saffron.finance/) - -The yield on the Dai vault is dependent on several strategies and therefore varies a lot. Although DeFi users are comfortable with variable yields, in traditional finance variable APYs put a lot of investors off. Many people want to use their interest income to pay rent or to cover regular outgoings and are happy to accept a reduced yield in return for more certainty. Saffron Finance does this by tranching risk. - -For example, instead of earning a variable APY from Dai you could split the vault’s APY in to a low risk tranche and a high risk tranche. By investing in the lower risk tranche you could earn a fixed 3% APY (still much higher than that available from the bank) and investors in the riskier tranche could earn the remaining interest. - -This could open up the addressable market of Yearn’s Dai vault to a much larger group of investors seeking lower risk, fixed returns. - -[**Auctus**](https://auctus.org/) - -Auctus is an options protocol that allows you to purchase wBTC and ETH options. It also allows you to buy these options with the interest earned from stablecoins using their CRV3Pool strategy. Buying ETH or wBTC call options with the interest earned gives you exposure to the upside of ETH or wBTC without the risk of loss of capital (beyond smart contract risk). This strategy is similar to the one applied by Inverse Finance. As Yearn becomes the go-to place to earn a yield in DeFi more protocols will use the Dai vault to earn the yield for strategies like this. - -**How do I keep up with all this?** - -To keep up to date with the state of the vaults make sure to subscribe to the [State of the Vaults newsletter](https://medium.com/yearn-state-of-the-vaults) (written by [qosmonot](https://twitter.com/qosmonot?lang=en-gb)) or catch up on YouTube [here](https://www.youtube.com/channel/UC_o4_cOevPVYC5pXs9OOexg). 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post -title: "The Vaults at Yearn" -categories: [ Articles ] -image: ./The-Vaults-at-Yearn/header.gif -author: Yearn -translator: -publish: true ---- - -# The Vaults at Yearn - -Updated November 5th, 2021 - -![](header.gif) - -# Overview - -Welcome to The Vaults at Yearn, where you can find in-depth information about how Yearn’s yVaults operate and the actions (strategies) these vaults perform. This article will maintain a one-stop location for all yVault descriptions. All version 1 yVaults have been deprecated, and any in production are now on version 2. The newest yVaults and strategies are denoted with ✨. - -Below you will find 7 sections: - -## Ethereum Vaults - -* Yearn and Curve 🔵🤝🌈 -* Vaults 🏛️ -* Curve Finance Based Vaults 🌈 -* v1 Vaults 🏦 -* Retired Vaults 💤 -* Understanding Curve 🚀 Boost Multipliers 🌈 - -## Fantom Vaults - -* Vaults 🏛️ - -# Ethereum Vaults Ξ - -Yearn Finance started and has the majority of its yVaults running on Ethereum Mainnet. We have deployed over 250 strategies and 100 yVaults on Ethereum. The ones that are currently running in production you can find in the sections below. - -## Yearn and Curve Synergy 🔵🤝🌈 - -One of the critical components of Yearn’s infrastructure includes a collaborative relationship with [Curve.fi](http://curve.fi/). Several Yearn vaults provide liquidity into Curve pools and stake the liquidity provider (LP) tokens into the respective gauges, earning CRV rewards. Yearn locks 10% of all CRV rewards earned into the yveCRV-DAO (“Backscratcher”) to obtain an additional amount of CRV. In the strategy descriptions below, vaults that are boosted are indicated with a 🚀. - -For a deeper understanding, refer to the _Understanding Curve Boost Multipliers_ section near the end of this document. - -Furthermore, the remaining 90% of the CRV earned are swapped into the respective LP tokens, and re-deposited into the vault. The only exception is the yvUSDN3Crv vault that locks 50% of the CRV earned into the Backscratcher vault and swaps the remaining 50%. - -![](1.png) - -### veCRV-DAO yVault ([yveCRV-DAO](https://etherscan.io/address/0xc5bDdf9843308380375a611c18B50Fb9341f502A)) - -_AKA-Backscratcher_ [📺](https://youtu.be/kJEAe2Rlh70) -This vault converts your CRV into yveCRV, earning you a continuous share of Curve fees which are boosted over what you earn staking at Curve. The more CRV converted, the greater your weekly rewards. Every Friday, these can be claimed from the vault as 3Crv (Curve’s 3pool LP token). - -Yearn, itself, deposits 10% of all CRV earned into this vault and gives its 3crv rewards to vault token holders which is where the boosted weekly rewards come from. - -Depositing is non-reversible: You can only convert CRV into yveCRV, as the CRV is perpetually staked in Curve’s voting escrow. All vaults send 10% of earned CRV to this vault to sustain boost levels. - -For more detailed information see this medium article: [https://medium.com/iearn/thats-boost-folks-7afae75db826](https://medium.com/iearn/thats-boost-folks-7afae75db826) - -## Vaults 🏛️ - -v2 yVaults are able to employ multiple strategies per vault (up to 20 strategies simultaneously), unlike v1 yVaults that are only able to employ one strategy per vault. [📺](https://youtu.be/ZES91i-hNAM) - -![](2.png) - -### Yearn Compounding veCRV yVault ([yvBOOST](https://etherscan.io/address/0x9d409a0A012CFbA9B15F6D4B36Ac57A46966Ab9a)) - -[StrategyYearnVECRV](https://etherscan.io/address/0x2923a58c1831205C854DBEa001809B194FDb3Fa5) [📺](https://youtu.be/Ik6GdGYO_x8) -This vault accepts [yveCRV-DAO](https://etherscan.io/address/0xc5bDdf9843308380375a611c18B50Fb9341f502A) tokens, which grant you a continuous share of Curve’s trading fees (claimed weekly as [3Crv](https://etherscan.io/address/0x6c3F90f043a72FA612cbac8115EE7e52BDe6E490), Curve’s 3pool LP token). Rewards are harvested, swapped for more yveCRV-DAO (either via market-buy or mint, depending on which is most efficient at time of harvest), and deposited back into the vault. - -For more detailed information see this medium article: [https://medium.com/iearn/thats-boost-folks-7afae75db826](https://medium.com/iearn/thats-boost-folks-7afae75db826) - -![](3.png) - -### ✨ YFI yVault ([yvYFI](https://etherscan.io/address/0xdb25cA703181E7484a155DD612b06f57E12Be5F0)) - -✨ [Rebalancer YFI JointProvider YFI-WETH](https://etherscan.io/address/0x4050eB90c15F27aa75b5CFcb934a26fDE60Cf9Cb) -Supplies YFI as half of a join liquidity provider for the [YFI-WETH Oracle Weighted Pool](https://app.balancer.fi/#/pool/0x186084ff790c65088ba694df11758fae4943ee9e000200000000000000000013) on [Balancer.fi](https://app.balancer.fi/). Rewards are harvested, split between the two pairs, sold for more YFI, and deposited back into the strategy. - -✨ [StrategyGenLevAAVE-Flashmint](https://etherscan.io/address/0xDfFe2E8B9DD8Cc0367AAED727c07a8d2bB36Ed8b) -Supplies YFI on [AAVE](https://aave.com/) and flashmints an additional amount of YFI to maximize stkAAVE earnings. Flashmints are used to mint DAI from MakerDAO to flashlend and increase the position, boosting the APY. stkAAVE is harvested, sold for more YFI, and deposited back into the strategy. - -✨ [StrategyMakerV2\_YFI-A](https://etherscan.io/address/0xbC27C4873D0ddE214387cE5a838DC78857633Ea2) -Locks YFI at [MakerDAO](https://oasis.app/) via YFI-A to mint DAI. The newly minted DAI is then deposited into the v2 DAI yVault to earn yield. - -![](4.png) - -### SNX yVault ([yvSNX](https://etherscan.io/address/0xF29AE508698bDeF169B89834F76704C3B205aedf#code)) - -✨ [StrategyLeagueDAOStakingSNX](https://etherscan.io/address/0xcB787FC49d54047688e58D283BE9b809b41395A9) -Supplies SNX on [LeagueDao](https://dao.leaguedao.com/yield-farming/snx) to earn LEAG. Rewards are harvested, sold for more SNX, and deposited back into the strategy. - -[StrategySynthetixSusdMinter -](https://etherscan.io/address/0xc9a62e09834cEdCFF8c136f33d0Ae3406aea66bD)Stakes SNX at Synthetix to mint sUSD. **This locks rewards on staked SNX for 1 year**. The newly minted sUSD is then deposited into the v2 sUSD yVault to earn yield. Yield from sUSD and rewards from weekly fees plus vested rewards (when claimable) are swapped for more SNX and re-deposited into the vault. - -[StrategyUniverseStaking](https://etherscan.io/address/0x29d23b73Dd0ed729F516bb55622765AF102f0e33) -Supplies SNX on universe.xyz to earn XYZ. Rewards are harvested, sold for more SNX, and re-deposited into the vault. - -![](5.png) - -### RAI yVault ([yvRAI](https://etherscan.io/address/0x873fB544277FD7b977B196a826459a69E27eA4ea)) - -[StrategyIdleidleRAIYield](https://etherscan.io/address/0x5D411D2cde10e138d68517c42bE2808C90c22026) 🚀 -Supplies RAI on Idle.finance to earn IDLE and RAI. Rewards are harvested, sold for more RAI, and re-deposited into the vault. - -![](6.png) - -### LINK yVault ([yvLINK](https://etherscan.io/address/0x671a912C10bba0CFA74Cfc2d6Fba9BA1ed9530B2)) [📺](https://youtu.be/LT51QWfAMv8) - -✨ [StrategyLeagueDAOStakingLINK](https://etherscan.io/address/0xf6D87dFC0841A289614B3d6fdb78D956ebd3cfF0) -Supplies LINK on [LeagueDao](https://dao.leaguedao.com/yield-farming) to earn LEAG. Rewards are harvested, sold for more LINK, and deposited back into the strategy. - -[Vesper LINK](https://etherscan.io/address/0x8198815871a45A5a883d083B7B105927eb9919D8) -Supplies LINK to [Vesper Finance](https://vesper.finance/) LINK Pool to earn VSP. Rewards are harvested, sold for more LINK, and re-deposited into the vault. - -[AaveLenderLINKBorrowerSUSD](https://etherscan.io/address/0x906f0a6f23e7160eB0927B0903ab80b5E3f3950D) -Lends LINK on AAVE to gain interest and accumulate staked AAVE as rewards. Also borrows sUSD which it then deposits into the sUSD yVault for yield. Rewards from vested AAVE and yvSUSD are harvested, sold for more LINK, and re-deposited into the vault. - -[StrategyMakerLINKDAIDelegate](https://etherscan.io/address/0x136fe75bfDf142a917C954F58577DB04ef6F294B) -Locks LINK at MakerDAO via LINK-A to mint DAI. The newly minted DAI is then deposited into the v2 DAI yVault to earn yield. - -![](7.png) - -### sUSD yVault ([yvsUSD](https://etherscan.io/address/0xa5cA62D95D24A4a350983D5B8ac4EB8638887396#code)) - -[StrategyLenderYieldOptimiser](https://etherscan.io/address/0x215DeE632335829155Dcb62452c4878C48c1C884) -Lends sUSD on AAVE and Cream to gain interest and accumulate staked AAVE as rewards. When the staked AAVE unlocks the AAVE will be harvested, sold for more sUSD, and re-deposited into the vault. - -[SingleSidedCrvsUSD](https://etherscan.io/address/0x74b3E5408B1c29E571BbFCd94B09D516A4d81f36) 🚀 -Deposits sUSD to the SAAVE curve pool on curve.fi. Rewards are harvested, sold for more sUSD, and re-deposited into the vault. - -[SingleSidedCrvsUSD](https://etherscan.io/address/0x95eA1643699F8DE347975F31CA8d03eCC507616c) 🚀 -Deposits sUSD to the SUSDv2 curve pool on curve.fi. Rewards are harvested, sold for more sUSD, and re-deposited into the vault. - -![](8.png) - -### 1INCH yVault ([yv1INCH](https://etherscan.io/address/0xB8C3B7A2A618C552C23B1E4701109a9E756Bab67)) - -[StrategyLenderYieldOptimiser](https://etherscan.io/address/0x86eD4F77d40182b8686a25e125FB3f5a04203CaA) -Lends 1INCH tokens on C.R.E.A.M. to gain interest. - -[Strategy1INCHGovernance](https://etherscan.io/address/0xB12F6A5776EDd2e923fD1Ce93041B2000A22dDc7) -Stakes 1INCH token on 1INCH DAO to collect governance rewards. Rewards are harvested and deposited back into the vault. - -![](9.png) - -### WETH yVault ([yvWETH](https://etherscan.io/address/0xa258C4606Ca8206D8aA700cE2143D7db854D168c)) - -_Any ETH deposited is wrapped into WETH then deposited._ - -✨ [Rebalancer WETH JointProvider YFI-WETH](https://etherscan.io/address/0x580Ae3AeD3E8e8d83c970FA6D2766C0Fb8AF759F) -Supplies wETH as half of a joint liquidity provider for the [YFI-WETH Oracle Weighted Pool](https://app.balancer.fi/#/pool/0x186084ff790c65088ba694df11758fae4943ee9e000200000000000000000013) on [Balancer.fi](https://app.balancer.fi/). Rewards are harvested, split between the two pairs, sold for more wETH, and deposited back into the strategy. - -✨ [SingleSidedBalancer B-stETH-STABLEPool WETH](https://etherscan.io/address/0xc31763c0c3025b9DF3Fb7Cb7f4AC041866F64F2E) -Deposits wETH to the [wstETH-wETH Stable Pool](https://app.balancer.fi/#/pool/0x32296969ef14eb0c6d29669c550d4a0449130230000200000000000000000080) on [Balancer.fi](https://app.balancer.fi/), BAL is harvested, sold for more wETH, and deposited back into the strategy. - -[StrategyLenderYieldOptimiser](https://etherscan.io/address/0xec2DB4A1Ad431CC3b102059FA91Ba643620F0826) -Lends wETH on Alpha Homora to gain interest. - -[AaveWETHLenderUSDTBorrower](https://etherscan.io/address/0xd28b508EA08f14A473a5F332631eA1972cFd7cC0) -Lends wETH on AAVE to gain interest and accumulate staked AAVE as rewards. Also borrows USDT which it then deposits into the USDT yVault for yield. Rewards from vested AAVE and yvUSDT are harvested, sold for more wETH, and re-deposited into the vault. - -[StrategyGenericLevCompFarmWeth](https://etherscan.io/address/0x83B6211379c26E0bA8d01b9EcD4eE1aE915630aa) -Supplies ETH on Compound and borrows an additional amount of ETH to maximize COMP earnings. Flashloans are used to obtain additional ETH from dYdX in order to gain additional leverage and boost the APY. Earned COMP is harvested and sold for more ETH and re-deposited into the vault. - -[StrategystETHAccumulator](https://etherscan.io/address/0x0967aFe627C732d152e3dFCAdd6f9DBfecDE18c3) -Stakes wETH at [Lido.fi](http://lido.fi/) to mint stETH which accumulates ETH 2.0 staking rewards. This strategy will buy stETH off the market if its cheaper than staking. - -[ssc\_eth\_seth](https://etherscan.io/address/0xc57A4D3FBEF85e675f6C3656498beEfe6F9DcB55) -Deposits ETH into the sETH curve pool on [curve.fi](http://curve.fi/). Rewards are harvested, sold for more ETH, and re-deposited into the vault. - -[ssc\_eth\_steth](https://etherscan.io/address/0xF9fDc2B5F60355A237deb8BD62CC117b1C907f7b) -Deposits ETH into the stETH curve pool on [curve.fi](http://curve.fi/). Rewards are harvested, sold for more ETH, and re-deposited into the vault. - -[StrategyMakerV2\_ETH-C](https://etherscan.io/address/0xd33535e9F2E09485aC9cE8b27F865251161065E0) -Locks ETH at MakerDAO via ETH-C to mint DAI. This newly minted DAI is then deposited into the v2 DAI yVault. - -![](10.png) - -### USDC yVault ([yvUSDC](https://etherscan.io/address/0x5f18c75abdae578b483e5f43f12a39cf75b973a9)) - -✨ [GenLevCompV3](https://etherscan.io/address/0x7900c70a377f89DF29D1D1939469ae3B74c5B740) -Supplies USDC on [Compound](https://compound.finance/) and borrows an additional amount of USDC to maximize COMP earnings. Flashmints are used to mint DAI from MakerDAO to flashlend and increase the position, boosting the APY. Earned COMP is harvested, sold for more USDC, and deposited back into the strategy. - -✨ [SingleSidedBalancer staBAL3Pool USDC](https://etherscan.io/address/0x520BF095FA58cB3f68C18D01746041733A1f7b85) -Deposits USDC to the [DAI-USDC-USDT Stable Pool](https://app.balancer.fi/#/pool/0x06df3b2bbb68adc8b0e302443692037ed9f91b42000000000000000000000063) on [Balancer.fi](https://app.balancer.fi/), BAL is harvested, sold for more USDC, and deposited back into the strategy. - -[StrategyAH2EarncyUSDC](https://etherscan.io/address/0x86Aa49bf28d03B1A4aBEb83872cFC13c89eB4beD#code) -Lends USDC on Alpha Homora v2 to generate interest. - -[SingleSidedCrvUSDC](https://etherscan.io/address/0x80af28cb1e44C44662F144475d7667C9C0aaB3C3) 🚀 -Deposits USDC to a USDC curve pool on [curve.fi](http://curve.fi/), and switches to the most profitable curve pool. - -[PoolTogether USD Coin](https://etherscan.io/address/0x387fCa8d7e2e09655b4F49548607B55C0580fC63) -Supplies USDC to the [PoolTogether](https://pooltogether.com/) protocol to earn POOL. Rewards are harvested, sold for more USDC, and deposited back into the vault. If it gets the prize of the week it will also be added to the vault. - -[StrategyRook USD Coin](https://etherscan.io/address/0x4140F350c1B67184fE3AaEa314d8C967F99EE8Cc) -Supplies USDC to KeeperDAO to earn ROOK. Rewards are harvested, sold for more USDC, and deposited back into the vault. - -![](11.png) - -### DAI yVault ([yvDAI](https://etherscan.io/address/0xdA816459F1AB5631232FE5e97a05BBBb94970c95)) - -✨ [SingleSidedBalancer staBAL3Pool DAI](https://etherscan.io/address/0x9cfF0533972da48Ac05a00a375CC1a65e87Da7eC) -Deposits DAI to the [DAI-USDC-USDT Stable Pool](https://app.balancer.fi/#/pool/0x06df3b2bbb68adc8b0e302443692037ed9f91b42000000000000000000000063) on [Balancer.fi](https://app.balancer.fi/), BAL is harvested, sold for more DAI, and deposited back into the strategy. - -✨ [AaveDAILenderSUSDBorrower](https://etherscan.io/address/0xC9db3AF6603329dF6C85E168D41B74832452ef08) -Lends DAI on [AAVE](https://aave.com/) to gain interest and accumulate stkAAVE as rewards. Also borrows sUSD which it then deposits into the sUSD yVault for yield. Rewards from vested AAVE and yvSUSD are harvested, sold for more DAI, and deposited back into the strategy. - -✨ [StrategyGenLevAAVE-Flashmint](https://etherscan.io/address/0xBCF537f93FAc59D35a8e7Ac8d132ab5aE860481D) -Supplies DAI on [AAVE](https://aave.com/) and flashmints an additional amount of DAI to maximize stkAAVE earnings. Flashmints are used to mint DAI from MakerDAO to flashlend and increase the position, boosting the APY. stkAAVE is harvested, sold for more DAI, and deposited back into the strategy. - -✨ [GenLevCompV3](https://etherscan.io/address/0x1676055fE954EE6fc388F9096210E5EbE0A9070c) -Supplies DAI on [Compound](https://compound.finance/) and borrows an additional amount of DAI to maximize COMP earnings. Flashmints are used to mint DAI from MakerDAO to flashlend and increase the position, boosting the APY. Earned COMP is harvested, sold for more DAI, and deposited back into the strategy. - -[StrategyLenderYieldOptimiser](https://hackmd.io/zucTisw_RUOQCWFpZYfksg?view) -Lends DAI on AAVE to gain interest and accumulate staked AAVE as rewards. When the staked AAVE unlocks the AAVE will be harvested, sold for more DAI, and re-deposited into the vault. - -[StrategyKashiMultiPairLender](https://hackmd.io/zucTisw_RUOQCWFpZYfksg?view) -Lends DAI on Sushi via Kashi to gain interest. Rewards are harvested, sold for more DAI, and deposited back into the vault. - -[StrategyGenericLevCompFarm](https://hackmd.io/zucTisw_RUOQCWFpZYfksg?view) -Supplies DAI on Compound and borrows an additional amount of DAI to maximize COMP earnings. Flashloans are used to obtain additional DAI from dYdX in order to gain additional leverage and boost the APY. Earned COMP is harvested and sold for more DAI and re-deposited into the vault. - -[ssc dai ib](https://etherscan.io/address/0xa6D1C610B3000F143c18c75D84BaA0eC22681185) -Deposits DAI into the Iron Bank curve pool on [curve.fi](http://curve.fi/). Rewards are harvested, sold for more DAI, and re-deposited into the vault. - -![](12.png) - -### WBTC yVault ([yvWBTC](https://etherscan.io/address/0xA696a63cc78DfFa1a63E9E50587C197387FF6C7E)) - -✨ [SingleSidedBalancer staBAL3-BTCPool WBTC](https://etherscan.io/address/0x7c1612476D235c8054253c83B98f7Ca6f7F2E9D0) -Deposits wBTC to the [wBTC-renBTC-sBTC Stable Pool](https://app.balancer.fi/#/pool/0xfeadd389a5c427952d8fdb8057d6c8ba1156cc56000000000000000000000066) on [Balancer.fi](https://app.balancer.fi/), BAL is harvested, sold for more wBTC, and deposited back into the strategy. - -✨ [StrategyGenLevAAVE-Flashmint](https://etherscan.io/address/0x53b087ad0e7790477AF36429cFCa606D373E3EbD) -Supplies wBTC on [AAVE](https://aave.com/) and flashmints an additional amount of wBTC to maximize stkAAVE earnings. Flashmints are used to mint DAI from MakerDAO to flashlend and increase the position, boosting the APY. stkAAVE is harvested, sold for more wBTC, and deposited back into the strategy. - -✨ [GenLevCompV3](https://etherscan.io/address/0x8C818613A97900CC1EDA5893F04701b62e7c1138) -Supplies wBTC on [Compound](https://compound.finance/) and borrows an additional amount of wBTC to maximize COMP earnings. Flashmints are used to mint DAI from MakerDAO to flashlend and increase the position, boosting the APY. Earned COMP is harvested, sold for more wBTC, and deposited back into the strategy. - -[SingleSidedCrvWBTC](https://etherscan.io/address/0x40b04B3ed9845B8Be200Aa2D9C3eDC2bE0a5f01f) 🚀 -Deposits wBTC to a BTC Curve Pool on [curve.fi](https://hackmd.io/zucTisw_RUOQCWFpZYfksg?view) and switches to the most profitable curve pool. - -[yvWBTCStratMMV1](https://etherscan.io/address/0x53a65c8e238915c79a1e5C366Bc133162DBeE34f) -Supplies wBTC to [Mushroom Finance’s](https://mushrooms.finance/) wBTC Vault then to the wBTC Farm to earn MM. MM are harvested, sold for more wBTC, and re-deposited into the vault. - -[ssc wbtc bbtc](https://etherscan.io/address/0x4b254EbBbb8FDb9D3E848501784692b2726b310c) -Deposits wBTC into the bBTC curve pool on [curve.fi](http://curve.fi/). Rewards are harvested, sold for more wBTC, and re-deposited into the vault. - -[ssc wbtc pbtc](https://etherscan.io/address/0x29367915508e47c631d220caEbA855901c13a3dE) -Deposits wBTC into the pBTC curve pool on [curve.fi](http://curve.fi/). Rewards are harvested, sold for more wBTC, and re-deposited into the vault. - -[ssc wbtc obtc](https://etherscan.io/address/0x64B2a32f030D9210E51ed8884C0D58b89137Ca81) -Deposits wBTC into the oBTC curve pool on [curve.fi](http://curve.fi/). Rewards are harvested, sold for more wBTC, and re-deposited into the vault. - -[StrategyGenLevAAVE](https://etherscan.io/address/0x90021FA777f77342E6FEBaBD768ba8e14D62a3f5) -Supplies wBTC on AAVE and borrows an additional amount of wBTC to maximize stAAVE earnings. Flashloans are used to obtain additional wBTC from dYdX in order to gain additional leverage and boost the APY. stAAVE is harvested, sold for more wBTC and re-deposited into the vault. - -![](13.png) - -### USDT yVault ([yvUSDT](https://etherscan.io/token/0x7Da96a3891Add058AdA2E826306D812C638D87a7)) - -✨ [SingleSidedBalancer staBAL3Pool USDT](https://etherscan.io/address/0x3ef6Ec70D4D8fE69365C92086d470bb7D5fC92Eb) -Deposits USDT to the [DAI-USDC-USDT Stable Pool](https://app.balancer.fi/#/pool/0x06df3b2bbb68adc8b0e302443692037ed9f91b42000000000000000000000063) on [Balancer.fi](https://app.balancer.fi/), BAL is harvested, sold for more USDT, and deposited back into the strategy. - -[StrategyLenderYieldOptimiser](https://etherscan.io/address/0x2f87c5e8396F0C41b86aad4F3C8358aB21681952) -Lends USDT on AAVE to gain interest. - -[StrategyAH2EarncyUSDT](https://etherscan.io/address/0x82292B8035873d7DD8a96767F6b3F885564aa919) -Lends USDT on Alpha Homora v2 to generate interest. - -[StrategyIdleUSDTYield](https://etherscan.io/address/0x01b54c320d6B3057377cbc71d953d1BBa84df44e) -Supplies USDT on Idle Finance to earn COMP and IDLE. Rewards are harvested, sold for more USDT, and deposited back to the vault. - -[SingleSidedCrvUSDT](https://etherscan.io/address/0xf840d061E83025F4cD6610AE5DDebCcA43327f9f) 🚀 -Deposits USDT to a USDT curve pool on [curve.fi](http://curve.fi/), and switches to the most profitable curve pool. - -![](14.png) - -### UNI yVault ([yvUNI](https://etherscan.io/address/0xFBEB78a723b8087fD2ea7Ef1afEc93d35E8Bed42)) - -[StrategyLenderYieldOptimiser](https://etherscan.io/address/0x5e882c9f00209315e049B885B9b3dfbEe60D80A4) -Lends UNI on AAVE to gain interest and accumulate staked AAVE as rewards. When the staked AAVE unlocks the AAVE will be harvested, sold for more UNI, and re-deposited into the vault. - -[PoolTogether Uniswap](https://etherscan.io/address/0x6EB00860260CF51623737e17579Db797d71cd337) -Supplies UNI to the [PoolTogether](https://pooltogether.com/) protocol to earn POOL. Rewards are harvested, sold for more UNI, and deposited back into the vault. If it gets the prize of the week it will also be added to the vault. - -[StrategyMakerUNIDAIDelegate](https://etherscan.io/address/0x9Ae0B9a67cF5D603847980D95Ad4D45b57Ff7783) -Locks UNI at MakerDAO via UNI-A to mint DAI. This newly minted DAI is then deposited into the v2 DAI yVault. - -[Vesper UNI](https://etherscan.io/address/0x60A3D5bEeEED797ccFf709ee78A42E2cF67235B7) -Supplies UNI to Vesper Finance vUNI Pool to earn VSP. Rewards are harvested, sold for more UNI, and re-deposited into the vault. - -![](15.png) - -### AAVE yVault (yvAAVE) - -[StrategyUniverseStaking](https://etherscan.io/address/0x9a5AfC29186b5d27F12F8CE6fe9E6Bd2cbb2BCDC) -Supplies AAVE on universe.xyz to earn XYZ. Rewards are harvested, sold for more AAVE, and re-deposited into the vault. - -✨ [StrategyLenderYieldOptimiser](https://etherscan.io/address/0xC06ed8E16F1E66acC03F7af1b0bA96fFF589E495) -Supplies AAVE to [Iron Bank](https://beta.yearn.finance/#/ironbank) to generate interest. Earned tokens are harvested, sold for more AAVE which is deposited back into the strategy. - -![](16.png) - -### COMP yVault ([yvCOMP](https://etherscan.io/address/0x4A3FE75762017DB0eD73a71C9A06db7768DB5e66)) - -[StrategyUniverseStaking](https://etherscan.io/address/0x95730d3E374b5E1F5b550Af059Af86D23feA79e3) -Supplies COMP on universe.xyz to earn XYZ. Rewards are harvested, sold for more COMP, and re-deposited into the vault. - -![](17.png) - -### SUSHI yVault ([yvSUSHI](https://etherscan.io/address/0x6d765CbE5bC922694afE112C140b8878b9FB0390)) - -✨ [StrategyLeagueDAOStakingSUSHI](https://etherscan.io/address/0x4FC500c2d49d54a99368852e42405B62C59D42A6) -Supplies SUSHI on [LeagueDao](https://dao.leaguedao.com/yield-farming) to earn LEAG. Rewards are harvested, sold for more SUSHI, and deposited back into the strategy. - -[StrategyLenderYieldOptimiser](https://etherscan.io/address/0x79Be3edA1d7FE92c18B9539bce2611bf8dc9BFc5) -This strategy lends SUSHI tokens on various lending platforms such as CREAM and AAVE to gain yield. - -![](18.png) - -### TUSD yVault ([yvTUSD](https://etherscan.io/address/0xFD0877d9095789cAF24c98F7CCe092fa8E120775)) - -[StrategyKashiMultiPairLender](https://etherscan.io/address/0x564bf2844654f149821697cC56572eE4384c05f7) -Lends TUSD on Sushi via Kashi to gain interest. Rewards are harvested, sold for more TUSD, and deposited back into the vault. - -## Curve Finance Strategy Vaults 🌈 - -Curve yVaults accept deposits of liquidity pool tokens obtained by providing to the liquidity pools on Curve Finance. To enter these vaults you need to deposit the underlying asset(s) to their respective pool on Curve Finance. [📺](https://youtu.be/V47NzWeZjjk) - -![](19.png) - -### Curve 3Crypto Pool yVault ([yvCurve-3Crypto](https://etherscan.io/address/0xE537B5cc158EB71037D4125BDD7538421981E6AA)) - -_While this vault is not subject to Impermanent Loss the underlying Curve pool could incur Impermanent Loss on withdrawal, use caution._ - -[Curvecrv3cryptoVoterProxy](https://etherscan.io/address/0xbA9052141cEf06FD55733D23231c37Fc856CE6F4) 🚀 -This vault accepts deposits of [crv3crypto](https://etherscan.io/address/0xc4AD29ba4B3c580e6D59105FFf484999997675Ff) tokens obtained by supplying either BTC, ETH, or USDT to the liquidity pool on Curve [here](https://curve.fi/tricrypto2/deposit) in exchange for crv3crypto tokens. crv3crypto are staked in the gauge on curve.fi to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more crv3crypto. - -[StrategyConvex3Crypto](https://etherscan.io/address/0x2055CFD5CDbc90c60A202A1AC3DDfB71AeC1cE98) 🚀 -Supplies crv3crypto to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more crv3crypto, and deposited back into the vault. - -![](20.png) - -### ✨ Curve USDM Pool yVault ([yvCurve-USDM](https://etherscan.io/address/0x6FAfCA7f49B4Fd9dC38117469cd31A1E5aec91F5)) - -✨ [StrategyCurveUSDM](https://etherscan.io/address/0x81329ecb1AB448DacF6b9ae696A097f790898899) -This vault accepts deposits of USDM3CRV-f tokens obtained by supplying either USDM, DAI, USDC, USDT (or wrapped via 3Crv tokens) to the liquidity pool on Curve [here](https://curve.fi/factory/23/deposit). USDM3CRV-f tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more USDM3CRV-f. - -✨ [StrategyConvexUSDM](https://etherscan.io/address/0x240f5167A98Bc2198110BcdD4CB04D06Dd52d55d) -Supplies USDM3CRV-f to [Convex Finance](https://www.convexfinance.com/) to earn CRV. Rewards are harvested, sold for more USDM3CRV-f, and deposited back into the strategy. - -![](21.png) - -### ✨ Curve alETH Pool yVault ([yvCurve-alETH](https://etherscan.io/address/0x718AbE90777F5B778B52D553a5aBaa148DD0dc5D)) - -✨ [StrategyCurvealETH](https://etherscan.io/address/0x3f4a63F3Ee9bA49004953f6879c7516D85969F5F) -This vault accepts deposits of alETH+ETH-f tokens obtained by supplying either alETH or ETH to the liquidity pool on Curve [here](https://curve.fi/factory/38/deposit). alETH+ETH-f tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more alETH+ETH-f. - -✨ [StrategyConvexalETH](https://etherscan.io/address/0x4ec142d094BecA5f7789CCd9341D0215c8B1e43f) -Supplies alETH+ETH-f to [Convex Finance](https://www.convexfinance.com/) to earn CRV. Rewards are harvested, sold for more alETH+ETH-f, and deposited back into the strategy. - -![](22.png) - -### ✨ Curve EURN Pool yVault ([yvCurve-EURN](https://etherscan.io/address/0x8b9C0c24307344B6D7941ab654b2Aeee25347473)) - -✨ [StrategyCurveEURN](https://etherscan.io/address/0x7847b7027cab6Fc4ea08cA0fF3b7464727712f91) -This vault accepts deposits of EURN/EURT-f tokens obtained by supplying either EURN or EURT to the liquidity pool on Curve [here](https://curve.fi/factory/33/deposit). EURN/EURT-f tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more EURN/EURT-f. - -✨ [StrategyConvexEURN](https://etherscan.io/address/0x3199437193625DCcD6F9C9e98BDf93582200Eb1f) -Supplies EURN/EURT-f to [Convex Finance](https://www.convexfinance.com/) to earn CRV. Rewards are harvested, sold for more EURN/EURT-f, and deposited back into the strategy. - -![](23.png) - -### ✨ Curve MIM-UST ([yvCurve-MIMUST](https://etherscan.io/address/0xd8C620991b8E626C099eAaB29B1E3eEa279763bb)) - -✨ [StrategyCurveMIMUST](https://etherscan.io/address/0xbb241fD9A2A3742ef9E10ccfd8a6C4E0EbEb03f2) -This vault accepts deposits of MIM-UST-f tokens obtained by supplying either MIM or UST to the liquidity pool on Curve [here](https://curve.fi/factory/48/deposit). MIM-UST-f tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more MIM-UST-f. - -✨ [StrategyConvexMIMUST](https://etherscan.io/address/0x5796698A29F3626c9FE13C4d3d3dEE987c84EBB3) -Supplies MIM-UST-f to [Convex Finance](https://www.convexfinance.com/) to earn CRV. Rewards are harvested, sold for more MIM-UST-f, and deposited back into the strategy. - -![](24.png) - -### Curve EURT Pool yVault ([yvCurve-EURT](https://etherscan.io/address/0x0d4EA8536F9A13e4FBa16042a46c30f092b06aA5)) - -[StrategyCurveEURT](https://etherscan.io/address/0x26AB2029083909FeEFF8Cb0fA04c1CfF52499DE7) -This vault accepts deposits of EURT-f tokens obtained by supplying either EURT or sEUR to the liquidity pool on Curve [here](https://curve.fi/eurt/deposit). EURT-f tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more EURT-f. - -[StrategyConvexEURT](https://etherscan.io/address/0x5E10E27DEae12877e23A68cC0d6F1b134b4d517A) -Supplies EURT-f to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more EURT-f, and deposited back into the vault. - -![](25.png) - -### Curve MIM Pool yVault ([yvCurve-MIM](https://etherscan.io/address/0x2DfB14E32e2F8156ec15a2c21c3A6c053af52Be8)) - -[StrategyCurveMIM](https://etherscan.io/address/0x9E1FF8638a2F1aD4B924A4B9677aD9d9b74361Cf) -This vault accepts deposits of MIM-3LP3CRV-f tokens obtained by supplying either MIM, DAI, USDC, USDT (or wrapped via 3Crv tokens) to the liquidity pool on Curve [here](https://curve.fi/mim/deposit). MIM-3LP3CRV-f tokens are staked in the gauge on Curve to earn CRV and SPELL rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more MIM-3LP3CRV-f. - -[StrategyConvexMIM](https://etherscan.io/address/0x6570B0a1593a59CcB378fb0b01A753875FCa99c4) -Supplies MIM-3LP3CRV-f to Convex Finance to earn CRV, SPELL, and CVX. Rewards are harvested, sold for more MIM-3LP3CRV-f, and deposited back into the vault. - -![](26.png) - -### Curve cvxCRV Pool yVault ([yvCurve-cvxCRV](https://etherscan.io/address/0x4560b99C904aAD03027B5178CCa81584744AC01f)) - -[StrategyCurvecvxCRV](https://etherscan.io/address/0xDCecD8DC5F3dDD480d2A06C56063DBf9c2a07E09) -This vault accepts deposits of cvxcrv-f tokens obtained by supplying either CRV or cvxCRV to the liquidity pool on Curve [here](https://curve.fi/factory/22/deposit). cvxcrv-f tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more cvxcrv-f. - -✨ [StrategyConvexcvxCRV](https://etherscan.io/address/0xAF6F42bfB29e90dFe51f2341fF1B1f99Fd776A70) -Supplies cvxcrv-f to [Convex Finance](https://www.convexfinance.com/) to earn CRV and CVX. Rewards are harvested, sold for more cvxcrv-f, and deposited back into the strategy. - -![](27.png) - -### Curve ibEUR Pool yVault ([yvCurve-ibEUR](https://etherscan.io/address/0x67e019bfbd5a67207755D04467D6A70c0B75bF60)) - -[StrategyCurveibEUR](https://etherscan.io/address/0xB431A88a6cFFfa66dBCf96Ebc89aE72Ff7Fcc34f) -This vault accepts deposits of ibEUR+sEUR-f tokens obtained by supplying either ibEUR or sEUR to the liquidity pool on Curve [here](https://curve.fi/factory/3/deposit). ibEUR+sEUR-f tokens are staked in the gauge on Curve to earn CRV and rKP3R rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more ibEUR+sEUR-f. - -✨ [StrategyConvexibEUR](https://etherscan.io/address/0x214D14f94a63B1714CCc39d12b4942e8Fdd56bA7) -Supplies ibEUR+sEUR-f to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more ibEUR+sEUR-f, and deposited back into the vault. - -![](28.png) - -### Curve ibKRW Pool yVault ([yvCurve-ibKRW](https://etherscan.io/address/0x528D50dC9a333f01544177a924893FA1F5b9F748)) - -[StrategyCurveibKRW](https://etherscan.io/address/0x10Ae24bce6F06b1BFfdA701736BEB2069eCd5a49) -This vault accepts deposits of ibKRW+sKRW-f tokens obtained by supplying either ibKRW or sKRW to the liquidity pool on Curve [here](https://curve.fi/factory/2/deposit). ibKRW+sKRW-f tokens are staked in the gauge on Curve to earn CRV and rKP3R rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more ibKRW+sKRW-f. - -✨ [StrategyConvexibKRW](https://etherscan.io/address/0x73c3533c159F93C924f072B065F9DAA6C0445Be2) -Supplies ibKRW+sKRW-f to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more ibKRW+sKRW-f, and deposited back into the vault. - -![](29.png) - -### Curve ibGBP Pool yVault ([yvCurve-ibGBP](https://etherscan.io/address/0x595a68a8c9D5C230001848B69b1947ee2A607164)) - -[StrategyCurveibGBP](https://etherscan.io/address/0x2063FcF4883E688FEc10e984d43bDa3ed9C00fd6) -This vault accepts deposits of ibGBP+sGBP-f tokens obtained by supplying either ibGBP or sGBP to the liquidity pool on Curve [here](https://curve.fi/factory/30/deposit). ibGBP+sGBP-f tokens are staked in the gauge on Curve to earn CRV and rKP3R rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more ibGBP+sGBP-f. - -✨ [StrategyConvexibGBP](https://etherscan.io/address/0x6CfAcEf79cA2AaE173Dc5089b9179a4193dC5784) -Supplies ibGBP+sGBP-f to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more ibGBP+sGBP-f, and deposited back into the vault. - -![](30.png) - -### Curve ibAUD Pool yVault ([yvCurve-ibAUD](https://etherscan.io/address/0x1b905331F7dE2748F4D6a0678e1521E20347643F)) - -[StrategyCurveibAUD](https://etherscan.io/address/0x2c9740Fc1E03457bF7FDe9dA08e04476D91c038c) -This vault accepts deposits of ibAUD+sAUD-f tokens obtained by supplying either ibAUD or sAUD to the liquidity pool on Curve [here](https://curve.fi/factory/29/deposit). ibAUD+sAUD-f tokens are staked in the gauge on Curve to earn CRV and rKP3R rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more ibAUD+sAUD-f. - -✨ [StrategyConvexibAUD](https://etherscan.io/address/0x68d8dAd442102d1aECCa4f71246E20eBA9ab7216) -Supplies ibAUD+sAUD-f to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more ibAUD+sAUD-f, and deposited back into the vault. - -![](31.png) - -### Curve ibCHF Pool yVault ([yvCurve-ibCHF](https://etherscan.io/address/0x490bD0886F221A5F79713D3E84404355A9293C50)) - -[StrategyCurveibCHF](https://etherscan.io/address/0x1bbB89ade777A36DF013DC098bEF9c9bA478d7fA) -This vault accepts deposits of ibCHF+sCHF-f tokens obtained by supplying either ibCHF or sCHF to the liquidity pool on Curve [here](https://curve.fi/factory/31/deposit). ibCHF+sCHF-f tokens are staked in the gauge on Curve to earn CRV and rKP3R rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more ibCHF+sCHF-f. - -✨ [StrategyConvexibCHF](https://etherscan.io/address/0xEe350e2B29AdD6504dDd81D3b6e3Dc4bA06A57B4) -Supplies ibCHF+sCHF-f to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more ibCHF+sCHF-f, and deposited back into the vault. - -![](32.png) - -### Curve ibJPY Pool yVault ([yvCurve-ibJPY](https://etherscan.io/address/0x59518884EeBFb03e90a18ADBAAAB770d4666471e)) - -[StrategyCurveibJPY](https://etherscan.io/address/0xD47626A99B6BE937879c5D588852DF76d50A11D2) -This vault accepts deposits of ibJPY+sJPY-f tokens obtained by supplying either ibJPY or sJPY to the liquidity pool on Curve [here](https://curve.fi/factory/28/deposit). ibJPY+sJPY-f tokens are staked in the gauge on Curve to earn CRV and rKP3R rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more ibJPY+sJPY-f. - -✨ [StrategyConvexibJPY](https://etherscan.io/address/0xf432da3d838111Bbc9F4B4D441Aaac8871597634) -Supplies ibJPY+sJPY-f to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more ibJPY+sJPY-f, and deposited back into the vault. - -![](33.png) - -### Curve mUSD Pool yVault ([yvCurve-mUSD](https://etherscan.io/address/0x8cc94ccd0f3841a468184aCA3Cc478D2148E1757#code)) - -[Curvemusd3CRVVoterProxy](https://etherscan.io/address/0xf9fF7f463A7e6f43d4E65c230D3743355fC954e4) 🚀 -This vault accepts deposits of [musd3CRV](https://etherscan.io/address/0x1AEf73d49Dedc4b1778d0706583995958Dc862e6) tokens obtained by supplying either mUSD, DAI, USDC, USDT (or wrapped via 3Crv tokens) to the liquidity pool on Curve [here](https://www.curve.fi/musd/deposit). musd3CRV tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more musd3CRV. - -[Convexmusd3CRV](https://etherscan.io/address/0x75be6ABC02a010559Ed5c7b0Eab94abD2B783b65) 🚀 -Supplies musd3CRV to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more musd3CRV, and deposited back into the vault. - -![](34.png) - -### Huobi BTC Curve yVault ([yvhCRV](https://etherscan.io/address/0x625b7DF2fa8aBe21B0A976736CDa4775523aeD1E)) - -[CurvehCRVVoterProxy](https://etherscan.io/address/0x91cBf0014a966615e1050c90A1aBf1d1d5d8cffd)🚀 -This vault accepts deposits of [hCRV](https://etherscan.io/address/0xb19059ebb43466C323583928285a49f558E572Fd) tokens obtained by supplying either hBTC or wBTC to the liquidity pool on Curve [here](https://curve.fi/hbtc/deposit) in exchange for hCRV tokens. hCRV are staked in the gauge on curve.finance to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more hCRV. - -[ConvexhCRV](https://etherscan.io/address/0x7Ed0d52C5944C7BF92feDC87FEC49D474ee133ce) 🚀 -Supplies hCRV to Convex Finance to earn CRV and farm CVX. Rewards are harvested, sold for more hCRV, and deposited back into the vault. - -![](35.png) - -### Curve USDK Pool yVault ([yvCurve-USDK](https://etherscan.io/address/0x3D27705c64213A5DcD9D26880c1BcFa72d5b6B0E)) - -[Curveusdk3CRVVoterProxy](https://etherscan.io/address/0x096E2F730c6AB7a048de7d27507E5E4e864c6824)🚀 -This vault accepts deposits of [usdk3CRV](https://etherscan.io/address/0x97E2768e8E73511cA874545DC5Ff8067eB19B787) tokens obtained by supplying either DAI, USDC, USDT (or their wrapped version: 3crv), or USDK to the liquidity pool on Curve [here](https://curve.fi/usdk/deposit) in exchange for usdk3CRV tokens. usdk3CRV are staked in the gauge on curve.finance to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more usdk3CRV. - -[Convexusdk3CRV](https://hackmd.io/zucTisw_RUOQCWFpZYfksg?view) 🚀 -Supplies usdk3CRV to [Convex Finance](https://www.convexfinance.com/stake) to earn CRV and CVX. Earned tokens are harvested, sold for more usdk3CRV which are deposited back into the strategy. - -![](36.png) - -### Curve Pax Pool yVault ([yvCurve-Pax](https://etherscan.io/address/0x80bbeE2fa460dA291e796B9045e93d19eF948C6A)) - -[CurveypaxCrvVoterProxy](https://etherscan.io/address/0x60A335509E75175E0fF785091f1Baf979148A290)🚀 -This vault accepts deposits of [ypaxCrv](https://etherscan.io/address/0xD905e2eaeBe188fc92179b6350807D8bd91Db0D8) tokens obtained by supplying either DAI, USDC, USDT (or their IronBank wrapped version: ycDAI, ycUSDC, ycUSDT), or PAX to the liquidity pool on Curve [here](https://curve.fi/pax/deposit) in exchange for ypaxCrv tokens. ypaxCrv are staked in the gauge on curve.finance to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more ypaxCrv. - -[ConvexypaxCrv](https://hackmd.io/zucTisw_RUOQCWFpZYfksg?view) 🚀 -Supplies ypaxCrv to [Convex Finance](https://www.convexfinance.com/stake) to earn CRV and CVX. Earned tokens are harvested, sold for more ypaxCrv which are deposited back into the strategy. - -![](37.png) - -### Curve RSV Pool yVault ([yvCurve-RSV](https://etherscan.io/address/0xC116dF49c02c5fD147DE25Baa105322ebF26Bd97)) - -[Curversv3CRVVoterProxy](https://etherscan.io/address/0x57D2E2eD281650A5d987E6ef87BC1BeD4fD0E959)🚀 -This vault accepts deposits of [rsv3CRV](https://etherscan.io/address/0xC2Ee6b0334C261ED60C72f6054450b61B8f18E35) tokens obtained by supplying either DAI, USDC, USDT (or their wrapped version: 3crv), or RSV to the liquidity pool on Curve [here](https://curve.fi/rsv/deposit) in exchange for rsv3CRV tokens. rsv3CRV are staked in the gauge on curve.finance to earn CRV and RSR rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more rsv3CRV. - -[Convexrsv3CRV](https://hackmd.io/zucTisw_RUOQCWFpZYfksg?view) 🚀 -Supplies rsv3CRV to [Convex Finance](https://www.convexfinance.com/stake) to earn CRV and CVX. Earned tokens are harvested, sold for more rsv3CRV which are deposited back into the strategy. - -![](38.png) - -### Curve USDT Pool yVault ([yvCurve-USDT](https://etherscan.io/address/0x28a5b95C101df3Ded0C0d9074DB80C438774B6a9)) - -[CurvecDAI+cUSDC+USDTVoterProxy](https://etherscan.io/address/0x5Fa22A8527Ae20f4ed8Ed3E0a6A5359Ad5EA3A4e)🚀 -This vault accepts deposits of [tCrv](https://etherscan.io/address/0x9fC689CCaDa600B6DF723D9E47D84d76664a1F23) tokens obtained by supplying either DAI, USDC (or their wrapped Compound version: cDAI, cUSDC), or USDT to the liquidity pool on Curve [here](https://curve.fi/usdt/deposit) in exchange for tCrv tokens. tCrv are staked in the gauge on curve.finance to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more tCrv. - -[ConvexcDAI+cUSDC+USDT](https://hackmd.io/zucTisw_RUOQCWFpZYfksg?view) 🚀 -Supplies tCrv to [Convex Finance](https://www.convexfinance.com/stake) to earn CRV and CVX. Earned tokens are harvested, sold for more tCrv which are deposited back into the strategy. - -![](39.png) - -### Curve triCrypto Pool yVault ([yvCurve-triCrypto](https://etherscan.io/address/0x3D980E50508CFd41a13837A60149927a11c03731)) - -_While this vault is not subject to Impermanent Loss the underlying Curve pool could incur Impermanent Loss on withdrawal, use caution._ - -[CurvecrvTricryptoVoterProxy](https://etherscan.io/address/0xb9267f1427Ddb937003b9cA0Ca7716DDa4026D19) 🚀 -This vault accepts deposits of [crvTricrypto](https://etherscan.io/address/0xcA3d75aC011BF5aD07a98d02f18225F9bD9A6BDF) tokens obtained by supplying either USDT, wBTC, or ETH to the liquidity pool on Curve [here](https://curve.fi/tricrypto/deposit) in exchange for crvTricrypto tokens. crvTricrypto are staked in the gauge on curve.finance to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more crvTricrypto. - -[ConvexcrvTricrypto](https://hackmd.io/zucTisw_RUOQCWFpZYfksg?view) 🚀 -Supplies crvTricrypto to [Convex Finance](https://www.convexfinance.com/stake) to earn CRV and CVX. Earned tokens are harvested, sold for more crvTricrypto which are deposited back into the strategy. - -![](40.png) - -### Curve EURS Pool yVault ([yvCurve-EURS](https://etherscan.io/address/0x25212Df29073FfFA7A67399AcEfC2dd75a831A1A)) - -[CurveeursCRVVoterProxy](https://etherscan.io/address/0x53cE22d5b4F667eC73710d428E828Cd96E9a37C9) 🚀 -This vault accepts deposits of [eursCRV](https://etherscan.io/address/0x194eBd173F6cDacE046C53eACcE9B953F28411d1) tokens obtained supplying either EURs or sEUR to the liquidity pool on Curve [here](https://www.curve.fi/eurs/deposit). eursCRV tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more eursCRV. - -[ConvexeursCRV](https://etherscan.io/address/0x4DC2CCC9E76bD30982243C1cB915003e17a88Eb9) 🚀 -Supplies eursCRV to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more eursCRV, and deposited back into the vault. - -![](41.png) - -### Curve sUSD Pool yVault ([yvCurve-sUSD](https://etherscan.io/address/0x5a770DbD3Ee6bAF2802D29a901Ef11501C44797A)) - -[CurvecrvPlain3andSUSDVoterProxy](https://etherscan.io/address/0x9730F52AB5BcEc960bE41b0fE4913a09c0B57066) 🚀 -This vault accepts deposits of [sCrv](https://etherscan.io/address/0xC25a3A3b969415c80451098fa907EC722572917F) tokens obtained by supplying either sUSD, DAI, USDC or USDT to the liquidity pool on Curve [here](https://www.curve.fi/susdv2/deposit). sCrv tokens are staked in the gauge on Curve to earn CRV and SNX rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more sCRV. - -[ConvexcrvPlain3andSUSD](https://etherscan.io/address/0xFA773b91b59B0895877c769000b9824b46b13a20) 🚀 -Supplies sCRV to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more sCRV, and deposited back into the vault. - -![](42.png) - -### Curve AAVE Pool yVault ([yvCurve-Aave](https://etherscan.io/address/0x39CAF13a104FF567f71fd2A4c68C026FDB6E740B)) - -[Curvea3CRVVoterProxy](https://etherscan.io/address/0xB11FC91DF59ADc604485f1B25ABa1F96A685473f) 🚀 -This vault accepts deposits of [a3CRV](https://etherscan.io/address/0xFd2a8fA60Abd58Efe3EeE34dd494cD491dC14900) tokens obtained by supplying either DAI, USDC, or USDT (or their wrapped aTokens) to the liquidity pool on Curve [here](https://curve.fi/aave/deposit). a3CRV tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more a3CRV. - -[Convexa3CRV](https://etherscan.io/address/0xAC4AE0B06C913dF4608dB60E2571a8e91b74C619) 🚀 -Supplies a3CRV to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more a3CRV, and deposited back into the vault. - -![](43.png) - -### Curve HUSD Pool yVault ([yvCurve-HUSD](https://etherscan.io/address/0x054AF22E1519b020516D72D749221c24756385C9)) - -[Curvehusd3CRVVoterProxy](https://etherscan.io/address/0x5ED527A2cfC5411EB63b12E46e270b07b6813824) 🚀 -This vault accepts deposits of [husd3CRV](https://etherscan.io/address/0x5B5CFE992AdAC0C9D48E05854B2d91C73a003858) tokens obtained by supplying either DAI, USDC, USDT (or their wrapped version: 3crv), or HUSD to the liquidity pool on Curve [here](https://www.curve.fi/husd/deposit). husd3CRV tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more husd3CRV. - -[Convexhusd3CRV](https://etherscan.io/address/0xdC929e76081a78e5c32552C2e79D29ECab3F6755) 🚀 -Supplies husd3CRV to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more husd3CRV, and deposited back into the vault. - -![](44.png) - -### Curve USDN Pool yVault ([yvCurve-USDN](https://etherscan.io/address/0x3B96d491f067912D18563d56858Ba7d6EC67a6fa)) - -[Curveusdn3CRVVoterProxy](https://etherscan.io/address/0x23a09D84e50fF3fDFa270308851443734b0a4b6D) 🚀 -This vault accepts deposits of [usdn3CRV](https://etherscan.io/address/0x4f3E8F405CF5aFC05D68142F3783bDfE13811522) tokens obtained by supplying either DAI, USDC, USDT (or their wrapped version: 3crv), or USDN to the liquidity pool on Curve [here](https://curve.fi/usdn/deposit). usdn3CRV tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more usdn3CRV. - -[Convexusdn3CRV](https://etherscan.io/address/0x8e87e65Cb28c069550012f92d5470dB6EB6897c0) 🚀 -Supplies usdn3CRV to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more usdn3CRV, and deposited back into the vault. - -![](45.png) - -### Curve rETH Pool yVault ([yvCurve-rETH](https://etherscan.io/address/0xBfedbcbe27171C418CDabC2477042554b1904857)) - -[CurverCRVVoterProxy](https://etherscan.io/address/0x16468a3999d931Dd6b6ffA0086Cf195D6C5BDAFA) 🚀 -This vault accepts deposits of [rCRV](https://etherscan.io/address/0x53a901d48795C58f485cBB38df08FA96a24669D5) tokens obtained by supplying either ETH or rETH to the liquidity pool on Curve [here](https://curve.fi/reth/deposit). rCRV tokens are staked in the gauge on Curve to earn CRV and [FIS](https://www.coingecko.com/en/coins/stafi) rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more rCRV. - -[ConvexrCRV](https://etherscan.io/address/0x8E4AA2E00694Adaf37f0311651262671f4d7Ac16) 🚀 -Supplies rCRV to Convex Finance to earn CRV, CVX, & FIS. Rewards are harvested, sold for more rCRV, and deposited back into the vault. - -![](46.png) - -### Curve ankrETH Pool yVault ([yvCurve-ankrETH](https://etherscan.io/address/0x132d8D2C76Db3812403431fAcB00F3453Fc42125)) - -[CurveankrCRVVoterProxy](https://etherscan.io/address/0x32EF165F2ABbdbE7dcC25B86EdB14a2C0dc52571) 🚀 -This vault accepts deposits of [ankrCRV](https://etherscan.io/address/0xaA17A236F2bAdc98DDc0Cf999AbB47D47Fc0A6Cf) tokens obtained by supplying either ETH or ankrETH to the liquidity pool on Curve [here](https://www.curve.fi/ankreth/deposit). ankrCRV tokens are staked in the gauge on Curve to earn CRV, [ANKR](https://www.coingecko.com/en/coins/ankr-network), and [ONX](https://www.coingecko.com/en/coins/onx-finance) rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more ankrCRV. - -[ConvexankrCRV](https://etherscan.io/address/0xB194dCFF4E11d26919Ce3B3255F69aEca5951e88) 🚀 -Supplies ankrCRV to Convex Finance to earn CRV, CVX, ANKR, & ONX. Rewards are harvested, sold for more ankrCRV, and deposited back into the vault. - -![](47.png) - -### Curve LINK Pool yVault ([yvCurve-LINK](https://etherscan.io/address/0xf2db9a7c0ACd427A680D640F02d90f6186E71725)) - -[CurvelinkCRVVoterProxy](https://etherscan.io/address/0x0E94D346D8A53FEF83484b178a581695E0001E55) 🚀 -This vault accepts deposits of [linkCRV](https://etherscan.io/address/0xcee60cFa923170e4f8204AE08B4fA6A3F5656F3a) tokens obtained by supplying either LINK or sLINK to the liquidity pool on Curve [here](https://curve.fi/link/deposit). linkCRV tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more linkCRV. - -[ConvexlinkCRV](https://etherscan.io/address/0xb7f013426d33fe27e4E8ABEE58500268554736bD) 🚀 -Supplies linkCRV to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more linkCRV, and deposited back into the vault. - -![](48.png) - -### Curve alUSD Pool yVault ([yvCurve-alUSD](https://etherscan.io/address/0xA74d4B67b3368E83797a35382AFB776bAAE4F5C8)) - -[CurvealUSD3CRV-fVoterProxy](https://etherscan.io/address/0x31CD90D60516ED18750bA49b2C9d1053190F40d9) 🚀 -This vault accepts deposits of [alUSD3CRV-f](https://etherscan.io/address/0x43b4FdFD4Ff969587185cDB6f0BD875c5Fc83f8c) tokens obtained supplying either DAI, USDC, USDT (or their wrapped version: 3crv), or alUSD to the liquidity pool on Curve [here](https://curve.fi/alusd/deposit). alUSD3CRV-f tokens are staked in the gauge on Curve to earn CRV and [ALCX](https://www.coingecko.com/en/coins/alchemix) rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more alUSD3CRV-f. - -[ConvexalUSD3CRV-f](https://etherscan.io/address/0xf8Fb278DeeaF30Ff3F6326d928A61eA8b9397d16) 🚀 -Supplies alUSD3CRV-f to Convex Finance to earn CRV, CVX, & ALCX. Rewards are harvested, sold for more alUSD3CRV-f, and deposited back into the vault. - -![](49.png) - -### Curve USDP Pool yVault ([yvCurve-USDP](https://etherscan.io/address/0xC4dAf3b5e2A9e93861c3FBDd25f1e943B8D87417)) - -[Curveusdp3CRVVoterProxy](https://etherscan.io/address/0x94fA3A90E680f6b866545C904D1dc9DEe6416de9) 🚀 -This vault accepts deposits of [usdp3CRV](https://etherscan.io/address/0x7Eb40E450b9655f4B3cC4259BCC731c63ff55ae6) tokens obtained supplying either DAI, USDC, USDT (or their wrapped version: 3crv), or USDP to the liquidity pool on Curve [here](https://www.curve.fi/usdp/deposit). usdp3CRV tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more usdp3CRV. - -[Convexusdp3CRV](https://etherscan.io/address/0xfb0702469A1a0440E87C06605461E8660FD0F43d) 🚀 -Supplies usdp3CRV to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more usdp3CRV, and deposited back into the vault. - -![](50.png) - -### Curve UST Pool yVault ([yvCurve-UST](https://etherscan.io/address/0x1C6a9783F812b3Af3aBbf7de64c3cD7CC7D1af44)) - -[Curveust3CRVVoterProxy](https://etherscan.io/address/0xbf811462955DEeD9aaD62EFE771E34e8B5811857) 🚀 -This vault accepts deposits of [ust3CRV](https://etherscan.io/address/0x94e131324b6054c0D789b190b2dAC504e4361b53) tokens obtained by supplying either UST, DAI, USDC, USDT(or wrapped via 3Crv tokens) to the liquidity pool on Curve [here](https://www.curve.fi/ust/deposit). ust3CRV tokens are staked in the gauge on Curve rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more ust3CRV. - -[Convexust3CRV](https://etherscan.io/address/0x0921E388e86bbE0356e37413F946ccE47EDd294D) 🚀 -Supplies ust3CRV to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more ust3CRV, and deposited back into the vault. - -![](51.png) - -### Curve DUSD Pool yVault ([yvCurve-DUSD](https://etherscan.io/address/0x30FCf7c6cDfC46eC237783D94Fc78553E79d4E9C)) - -[Curvedusd3CRVVoterProxy](https://etherscan.io/address/0x4C547b6202247E7B7c45A95d7747A85704530ab3) 🚀 -This vault accepts deposits of [dusd3CRV](https://etherscan.io/address/0x3a664ab939fd8482048609f652f9a0b0677337b9) tokens obtained by supplying either DAI, USDC, USDT, (or their wrapped version: 3CRV), or DUSD to the liquidity pool on Curve [here](https://curve.fi/dusd/deposit). dusd3CR tokens are staked in the gauge on Curve to earn CRV and [DFD](https://www.coingecko.com/en/coins/defidollar-dao) rewards. CRV and DFD rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more dusd3CRV. - -[Convexdusd3CRV](https://etherscan.io/address/0x33d7E0Fa2c7Db85Ef3AbC1C44e07E0b5cB2E4C14) 🚀 -Supplies dusd3CRV to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more dusd3CRV, and deposited back into the vault. - -![](52.png) - -### Curve TUSD Pool yVault ([yvCurve-TUSD](https://etherscan.io/address/0xf8768814b88281DE4F532a3beEfA5b85B69b9324)) - -[CurveTUSD3CRV-fVoterProxy](https://etherscan.io/address/0xE7C32D413341bfc84BB58492BEA8a69e8D06E0b4) 🚀 -This vault accepts deposits of [TUSD3CRV-f](https://etherscan.io/address/0xecd5e75afb02efa118af914515d6521aabd189f1) tokens obtained by supplying either DAI, USDC, USDT, (or their wrapped version: 3CRV), or TUSD to the liquidity pool on Curve [here](https://curve.fi/tusd/deposit). TUSD3CRV-f tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more TUSD3CRV-f. - -[ConvexTUSD3CRV-f](https://etherscan.io/address/0x270101459e9A38Db38Ba4Cb8718FfA31953A9Af3) 🚀 -Supplies TUSD3CRV-f to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more TUSD3CRV-f, and deposited back into the vault. - -![](53.png) - -### Curve Y Pool yVault ([yUSD](https://etherscan.io/address/0x4B5BfD52124784745c1071dcB244C6688d2533d3)) - -[CurveyDAI+yUSDC+yUSDT+yTUSDVoterProxy](https://etherscan.io/address/0x6d45c5a8C1cF1f77Ab89cAF8D44917730298bab7) 🚀 -This vault accepts deposits of [yDAI+yUSDC+yUSDT+yTUSD](https://etherscan.io/address/0xdF5e0e81Dff6FAF3A7e52BA697820c5e32D806A8) tokens obtained by supplying DAI, USDC, USDT, or TUSD (or their wrapped versions from [yEarn: y.curve.fi](https://v1.yearn.finance/earn)) to the liquidity pool on Curve [here](https://curve.fi/iearn/deposit). yDAI+yUSDC+yUSDT+yTUSD tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more yDAI+yUSDC+yUSDT+yTUSD. - -[ConvexyDAI+yUSDC+yUSDT+yTUSD](https://etherscan.io/address/0xA5189cb0149761A8346D64E384924b2394dFa595) 🚀 -Supplies yDAI+yUSDC+yUSDT+yTUSD to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more yDAI+yUSDC+yUSDT+yTUSD, and deposited back into the vault. - -![](54.png) - -### Curve 3Pool yVault ([yvCurve-3pool](https://etherscan.io/address/0x84E13785B5a27879921D6F685f041421C7F482dA)) - -[Curve3CrvVoterProxy](https://etherscan.io/address/0x9d7c11D1268C8FD831f1b92A304aCcb2aBEbfDe1) 🚀 -This vault accepts deposits of [3crv](https://etherscan.io/address/0x6c3f90f043a72fa612cbac8115ee7e52bde6e490) tokens obtained by supplying DAI, USDC, USDT to the liquidity pool on Curve [here](https://curve.fi/3pool/deposit). 3crv tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more 3crv. - -[Convex3Crv](https://etherscan.io/address/0xeC088B98e71Ba5FFAf520c2f6A6F0153f1bf494B) 🚀 -Supplies 3crv to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more 3crv, and deposited back into the vault. - -![](55.png) - -### Curve GUSD yVault ([yvCurve-GUSD](https://etherscan.io/address/0x2a38B9B0201Ca39B17B460eD2f11e4929559071E)) - -[Curvegusd3CRVVoterProxy](https://etherscan.io/address/0x9C1117cf2ED3A0F4A9F069001F517c1D511c8B53) 🚀 -This vault accepts deposits of [gusd3CRV](https://etherscan.io/address/0xd2967f45c4f384deea880f807be904762a3dea07) tokens obtained by supplying either DAI, USDC, USDT, (or their wrapped version: 3CRV), or GUSD to the liquidity pool on Curve [here](https://curve.fi/gusd/deposit). gusd3CRV tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more gusd3CRV. - -[Convexgusd3CRV](https://etherscan.io/address/0x2D42CFdC6a1B03490892AdF7DC6c62AA7228E5D6) 🚀 -Supplies gusd3CRV to Convex Finance to earn CRV and CVX Rewards are harvested, sold for more gusd3CRV, and deposited back into the vault. - -![](56.png) - -### Curve Iron Bank yVault ([yvCurve-IB](https://etherscan.io/address/0x27b7b1ad7288079A66d12350c828D3C00A6F07d7)) - -[StrategyCurveIBVoterProxy](https://etherscan.io/address/0x5148C3124B42e73CA4e15EEd1B304DB59E0F2AF7) 🚀 -This vault accepts deposits of [ib3CRV](https://etherscan.io/address/0x5282a4eF67D9C33135340fB3289cc1711c13638C) tokens obtained by supplying either cyDAI, cyUSDC, or cyUSDT to the liquidity pool on Curve [here](https://www.curve.fi/ib/deposit) in exchange for ib3CRV tokens. ib3CRV are staked in the gauge on Curve Finance to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more ib3CRV. - -[StrategyConvexIronBank](https://etherscan.io/address/0x864F408B422B7d33416AC678b1a1A7E6fbcF5C8c) 🚀 -Supplies ib3CRV to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more ib3CRV, and deposited back into the vault. - -![](57.png) - -### Curve sETH Pool yvault ([yveCRV](https://etherscan.io/address/0x986b4AFF588a109c09B50A03f42E4110E29D353F)) - -[StrategyCurveEcrvVoterProxy](https://etherscan.io/address/0xB5F6747147990c4ddCeBbd0d4ef25461a967D079#code) 🚀 [📺](https://youtu.be/V47NzWeZjjk) -This vault accepts deposits of [eCRV](https://etherscan.io/address/0xA3D87FffcE63B53E0d54fAa1cc983B7eB0b74A9c) tokens obtained by supplying either ETH or sETH to the liquidity pool on Curve [here](https://www.curve.fi/seth/deposit). eCRV tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more eCRV. - -[StrategyConvexsETH](https://etherscan.io/address/0xc2fC89E79D4Fd2570dD9B413b851F38076bCd930) 🚀 -Supplies eCRV to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more eCRV, and deposited back into the vault. - -![](58.png) - -### Curve stETH Pool yVault ([yvsteCRV](https://etherscan.io/address/0xdcd90c7f6324cfa40d7169ef80b12031770b4325)) - -[StrategystETHCurve](https://etherscan.io/address/0xebfc9451d19e8dbf36aaf547855b4dc789ca793c) 🚀 [📺](https://www.youtu.be/0LyxSrAnIxU&t) -This vault accepts deposits of [steCRV](https://etherscan.io/address/0x06325440D014e39736583c165C2963BA99fAf14E) tokens obtained by supplying either ETH or stETH to the liquidity pool on Curve [here](https://www.curve.fi/steth/deposit). steCRV are staked in the gauge on curve.finance to earn CRV and [LDO](https://www.coingecko.com/en/coins/lido-dao) rewards. Rewards are swapped for WETH and resupplied to the liquidity pool to obtain more steCRV. - -[StrategyConvexstETH](https://etherscan.io/address/0x6C0496fC55Eb4089f1Cf91A4344a2D56fAcE51e3) 🚀 -Supplies steCRV to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more steCRV, and deposited back into the vault. - -![](59.png) - -### Curve sBTC Pool yVault ([yvCurve-sBTC](https://etherscan.io/address/0x8414Db07a7F743dEbaFb402070AB01a4E0d2E45e)) - -[CurvecrvRenWSBTCVoterProxy](https://etherscan.io/address/0xdD92491B9F55620C043d55D25620a7B126451ddD) 🚀 -This vault accepts deposits of [sbtcCrv](https://etherscan.io/address/0x075b1bb99792c9E1041bA13afEf80C91a1e70fB3) tokens obtained by supplying either renBTC, wBTC or sBTC to the liquidity pool on Curve [here](https://www.curve.fi/sbtc/deposit). sbtcCrv tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more sbtcCrv. - -[ConvexcrvRenWSBTC](https://etherscan.io/address/0x7aB4DB515bf258A88Bb14f3685769a0f70B8778f) 🚀 -Supplies sbtcCrv to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more sbtcCrv, and deposited back into the vault. - -![](60.png) - -### Curve renBTC Pool yVault ([yvCurve-renBTC](https://etherscan.io/address/0x7047F90229a057C13BF847C0744D646CFb6c9E1A)) - -[CurvecrvRenWBTCVoterProxy](https://etherscan.io/address/0x2A94A56fBEE72ACEC39ea0269c1356a8DFbC4765) 🚀 -This vault accepts deposits of [crvRenWBTC](https://etherscan.io/address/0x49849C98ae39Fff122806C06791Fa73784FB3675) tokens obtained by supplying either renBTC or wBTC to the liquidity pool on Curve [here](https://curve.fi/ren/deposit) in exchange for crvRenWBTC tokens. crvRenWBTC are staked in the gauge on curve.finance to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more crvRenWBTC. - -[ConvexcrvRenWBTC](https://etherscan.io/address/0x7799F476522Ebe259fc525C1A21E84f7Dd551955) 🚀 -Supplies crvRenWBTC to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more crvRenWBTC, and deposited back into the vault. - -![](61.png) - -### Curve oBTC Pool yVault (yvCurve-oBTC) - -[CurveoBTC/sbtcCRVVoterProxy](https://etherscan.io/address/0x24579b82E06aBe25C8ffC4Ee6C2dB676e57F1a32) 🚀 -This vault accepts deposits of [oBTC/sbtcCRV](https://etherscan.io/address/0x2fE94ea3d5d4a175184081439753DE15AeF9d614) tokens obtained by supplying either oBTC, renBTC, wBTC or sBTC to the liquidity pool on Curve [here](https://www.curve.fi/obtc/deposit). oBTC/sbtcCRV tokens are staked in the gauge on Curve to earn CRV and [BOR](https://www.coingecko.com/en/coins/boringdao). Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more oBTC/sbtcCRV. - -[ConvexoBTC/sbtcCRV](https://etherscan.io/address/0xDb2D3F149270630382D4E6B4dbCd47e665D78D76) 🚀 -Supplies oBTC/sbtcCRV to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more oBTC/sbtcCRV, and deposited back into the vault. - -![](62.png) - -### Curve pBTC Pool yVault ([yvCurve-pBTC](https://etherscan.io/address/0x3c5DF3077BcF800640B5DAE8c91106575a4826E6)) - -[CurvepBTC/sbtcCRVVoterProxy](https://etherscan.io/address/0x04a6E58aAd4Ed8053Ba436B00C02A8a000639e93) 🚀 -This vault accepts deposits of [pBTC/sbtcCRV](https://etherscan.io/address/0xDE5331AC4B3630f94853Ff322B66407e0D6331E8) tokens obtained by supplying either pBTC, renBTC, wBTC or sBTC to the liquidity pool on Curve [here](https://www.curve.fi/pbtc/deposit). pBTC/sbtcCRV tokens are staked in the gauge on Curve to earn CRV and [PNT](https://www.coingecko.com/en/coins/pnetwork). Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more pBTC/sbtcCRV. - -[ConvexpBTC/sbtcCRV](https://etherscan.io/address/0x7b5cb4694b0A299ED2F65db7d87B286461549e84) 🚀 -Supplies pBTC/sbtcCRV to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more pBTC/sbtcCRV, and deposited back into the vault. - -![](63.png) - -### Curve tBTC Pool yVault ([yvCurve-tBTC](https://etherscan.io/address/0x23D3D0f1c697247d5e0a9efB37d8b0ED0C464f7f)) - -[Curvetbtc/sbtcCrvVoterProxy](https://etherscan.io/address/0x92D03B12E5f67b0df3B50c7c01c141Bf4BD98eA6) 🚀 -This vault accepts deposits of [tBTC/sbtcCrv](https://etherscan.io/address/0x64eda51d3Ad40D56b9dFc5554E06F94e1Dd786Fd) tokens obtained by supplying either tBTC, renBTC, wBTC or sBTC to the liquidity pool on Curve [here](https://www.curve.fi/tbtc/deposit). tBTC/sbtcCrv tokens are staked in the gauge on Curve to earn CRV. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more tBTC/sbtcCrv. - -[Convextbtc/sbtcCrv](https://etherscan.io/address/0x07fb6A53185E2F095253099A47F34CD410eB2A89) 🚀 -Supplies tBTC/sbtcCrv to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more tBTC/sbtcCrv, and deposited back into the vault. - -![](64.png) - -### Curve FRAX Pool yVault ([yvCurve-FRAX](https://etherscan.io/address/0xB4AdA607B9d6b2c9Ee07A275e9616B84AC560139#code)) - -[CurveFRAX3CRV-fVoterProxy](https://etherscan.io/address/0xb622F17e1ba8C51b9BD760Fb37994a55b1e5CD85#code) 🚀 -This vault accepts deposits of [FRAX3CRV-f](https://etherscan.io/address/0xd632f22692FaC7611d2AA1C0D552930D43CAEd3B) tokens obtained by supplying either FRAX, DAI, USDC, or USDT to the liquidity pool on Curve [here](https://www.curve.fi/frax/deposit). FRAX3CRV-f tokens are staked in the gauge on Curve to earn CRV and [FXS](https://www.coingecko.com/en/coins/frax-share) rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more FRAX3CRV-f. - -[ConvexFRAX3CRV-f](https://etherscan.io/address/0x8c312B63Bc4000f61E1C4df4868A3A1f09b31A73) 🚀 -Supplies FRAX3CRV-f to Convex Finance to earn CRV, CVX, & FXS. Rewards are harvested, sold for more FRAX3CRV-f, and deposited back into the vault. - -![](65.png) - -### Curve LUSD Pool yVault ([yvCurve-LUSD](https://etherscan.io/address/0x5fA5B62c8AF877CB37031e0a3B2f34A78e3C56A6#code)) - -[CurveLUSD3CRV-fVoterProxy](https://etherscan.io/address/0x21e5a745d77430568C074569C06e6c765922626a#code) 🚀 -This vault accepts deposits of [LUSD3CRV-f](https://etherscan.io/address/0xEd279fDD11cA84bEef15AF5D39BB4d4bEE23F0cA) tokens obtained by supplying either LUSD, DAI, USDC, or USDT to the liquidity pool on Curve [here](https://www.curve.fi/lusd/deposit). LUSD3CRV-f tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more LUSD3CRV-f. - -[ConvexLUSD3CRV-f](https://etherscan.io/address/0x789685963DF287337759A9FaB65d8c645a3B4cba) 🚀 -Supplies LUSD3CRV-f to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more LUSD3CRV-f, and deposited back into the vault. - -![](66.png) - -### Curve SAAVE Pool yVault ([yvCurve-sAave](https://etherscan.io/address/0xb4D1Be44BfF40ad6e506edf43156577a3f8672eC#code)) - -[CurvesaCRVVoterProxy](https://etherscan.io/address/0xE73817de3418bB44A4FeCeBa53Aa835333C550e7#code) 🚀 -This vault accepts deposits of [saCRV](https://etherscan.io/address/0x02d341CcB60fAaf662bC0554d13778015d1b285C) tokens obtained by supplying either DAI or sUSD to the liquidity pool on Curve [here](https://www.curve.fi/saave/deposit). saCRV tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more saCRV. - -[ConvexsaCRV](https://etherscan.io/address/0xF5636591256195414f25d19034B70A4742Fc2A2e) 🚀 -Supplies saCRV to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more saCRV, and deposited back into the vault. - -![](67.png) - -### Curve bBTC Pool yVault ([yvCurve-bBTC](https://etherscan.io/address/0x8fA3A9ecd9EFb07A8CE90A6eb014CF3c0E3B32Ef)) - -[CurvebBTC/sbtcCRVVoterProxy](https://etherscan.io/address/0xABCBB67Ef2757bCCff074014658d9BD13f559632) 🚀 -This vault accepts deposits of [bBTC/sbtcCrv](https://etherscan.io/address/0x410e3E86ef427e30B9235497143881f717d93c2A) tokens obtained by supplying either BBTC, renBTC, wBTC or sBTC to the liquidity pool on Curve [here](https://www.curve.fi/bbtc/deposit). bBTC/sbtcCrv tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more bBTC/sbtcCrv. - -[ConvexbBTC/sbtcCRV](https://etherscan.io/address/0xE9ac8D34C546CBfdAD98F9a4546Db5fE08D01bF2) 🚀 -Supplies bBTC/sbtcCrv to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more bBTC/sbtcCrv, and deposited back into the vault. - -![](68.png) - -### Curve BUSD Pool yVault ([yvCurve-BUSD](https://etherscan.io/address/0x6Ede7F19df5df6EF23bD5B9CeDb651580Bdf56Ca#code)) - -[CurveBUSD3CRV-fVoterProxy](https://etherscan.io/address/0xD670439D889f9Eb16497d8D6EA9a5E549ae5bFF5) 🚀 -This vault accepts deposits of [BUSD3CRV-f](https://etherscan.io/address/0x4807862AA8b2bF68830e4C8dc86D0e9A998e085a) tokens obtained by supplying BUSD, DAI, USDC, USDT, (or wrapped via 3Crv tokens) to the liquidity pool on Curve [here](https://curve.fi/busdv2/deposit). BUSD3CRV-f tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more BUSD3CRV-f. - -[ConvexBUSD3CRV-f](https://etherscan.io/address/0xA44F947e51Ec6456A1d786F82ea5865F87Da9C30) 🚀 -Supplies BUSD3CRV-f to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more BUSD3CRV-f, and deposited back into the vault. - -![](69.png) - -### Curve yBUSD Pool yVault ([yyDAI+yUSDC+yUSDT+yBUSD](https://etherscan.io/address/0x2994529C0652D127b7842094103715ec5299bBed#code)) - -[CurveyDAI+yUSDC+yUSDT+yBUSDVoterProxy](https://etherscan.io/address/0xB3E1a513a2fE74EcF397dF9C0E6BCe5B57A961C8) 🚀 -This vault accepts deposits of [yDAI+yUSDC+yUSDT+yBUSD](https://etherscan.io/address/0x3B3Ac5386837Dc563660FB6a0937DFAa5924333B) tokens obtained by supplying BUSD, DAI, USDC, USDT, (or their wrapped version yBUSD, yDAI, yUSDC or yUSDT) to the liquidity pool on Curve [here](https://curve.fi/busd/deposit). yDAI+yUSDC+yUSDT+yBUSD tokens are staked in the gauge on Curve to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more yDAI+yUSDC+yUSDT+yBUSD. - -[ConvexyDAI+yUSDC+yUSDT+yBUSD](https://etherscan.io/address/0x3cA0B4d7eedE71061B0bAdb4F0E86E99b0FEa613) 🚀 -Supplies yDAI+yUSDC+yUSDT+yBUSD to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more yDAI+yUSDC+yUSDT+yBUSD, and deposited back into the vault. - -![](70.png) - -### Curve Compound Pool yVault ([yvCurve-Compound](https://etherscan.io/address/0xD6Ea40597Be05c201845c0bFd2e96A60bACde267)) - -[CurvecDAI+cUSDCVoterProxy](https://etherscan.io/address/0xdDAAc8B5Dd65d079b6572e43890BDD8d95bD5cc3) 🚀 -This vault accepts deposits of [cDAI+cUSDC](https://etherscan.io/address/0x845838df265dcd2c412a1dc9e959c7d08537f8a2) tokens obtained by supplying DAI or USDC (or their wrapped versions from Compound) to the liquidity pool on Curve [here](https://curve.fi/compound/deposit). cDAI+cUSDC tokens are staked in the gauge on curve.finance to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more cDAI+cUSDC. - -[ConvexcDAI+cUSDC](https://etherscan.io/address/0x2b0b941d98848d6c9C729d944E3B1BD9C00A5529) 🚀 -Supplies cDAI+cUSDC to Convex Finance to earn CRV and CVX. Rewards are harvested, sold for more cDAI+cUSDC, and deposited back into the vault. - -## v1 Vaults 🏦 - -**All v1 yVaults have migrated to v2 yVaults. Please migrate your funds via our zap or withdrawal to continue earning yield.** - -## Retired Vaults 💤 - -These vaults are no longer active or are in the process of migrating to a newer version and being phased out. Strategies might have been paused, deposits might be closed, or they might have been removed from the website entirely. - -### v2 YFI yVault ([yvYFI](https://etherscan.io/address/0xE14d13d8B3b85aF791b2AADD661cDBd5E6097Db1#readContract)) — v0.3.2 - -⚠️ **This vault is being migrated to a newer version.** It is recommended you migrate your balance to the v2 YFI yVault — v0.4.2 to continue earning the best yield. - -### v2 DAI yVault ([yvDAI](https://etherscan.io/address/0x19d3364a399d251e894ac732651be8b0e4e85001))[📺](https://youtu.be/4kHgQuTx6_U) — v0.3.0 - -⚠️ **This vault is being migrated to a newer version.** It is recommended you migrate your balance to the v2 DAI yVault — v0.4.2 to continue earning the best yield. - -### v2 WBTC yVault ([yvWBTC](https://etherscan.io/address/0xcb550a6d4c8e3517a939bc79d0c7093eb7cf56b5)) — 0xcb550 - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 WBTC yVault to continue earning yield. - -### v2 WETH yVault ([yvWETH](https://etherscan.io/address/0xa9fE4601811213c340e850ea305481afF02f5b28)) — 0xa9fe4 — v0.3.2 - -⚠️ **This vault is being migrated to a newer version.** It is recommended you migrate your balance to the v2 WETH yVault — v0.4.2 to continue earning the best yield. - -### v2 HEGIC yVault ([yvHEGIC](https://etherscan.io/address/0xe11ba472f74869176652c35d30db89854b5ae84d)) - -⚠️ **This vault is no longer active.** Please withdraw your funds. - -### v1 TrueUSD yVault ([yTUSD](https://etherscan.io/address/0x37d19d1c4E1fa9DC47bD1eA12f742a0887eDa74a#code)) - -⚠️ **This vault is no longer active.** This vault is inactive and will no longer generate any yield. The v1 TrueUSD yVault has been deprecated for the v2 TrueUSD yVault. Please migrate your funds via our zap or withdrawal. - -### v1 aLINK yVault ([yaLINK](https://etherscan.io/address/0x29E240CFD7946BA20895a7a02eDb25C210f9f324#code)) - -⚠️ **This vault is no longer active.** Please withdraw your funds. - -### v1 YFI yVault ([yvYFI](https://etherscan.io/address/0xBA2E7Fed597fd0E3e70f5130BcDbbFE06bB94fe1#code)) - -⚠️ **Inactive with YIP-56: Buyback and Build.** Please migrate your funds via our zap or withdrawal from the vault. This vault will no longer generate yield and you cannot vote with your YFI while in this vault. - -### v1 USDT yVault ([yUSDT](https://etherscan.io/address/0x2f08119C6f07c006695E079AAFc638b8789FAf18#code)) - -⚠️ **This vault is no longer active.** This vault is inactive and will no longer generate any yield. The v1 USDT yVault has been deprecated for the v2 USDT yVault. Please migrate your funds via our zap or withdrawal. - -### v1 USDC yVault ([yUSDC](https://etherscan.io/address/0x597aD1e0c13Bfe8025993D9e79C69E1c0233522e#code)) - -⚠️ **This vault is no longer active.** This vault is inactive and will no longer generate any yield. The v1 USDC yVault has been deprecated for the v2 USDC yVault. Please migrate your funds via our zap or withdrawal. - -### v1 LINK yVault ([yLINK](https://etherscan.io/address/0x881b06da56BB5675c54E4Ed311c21E54C5025298#code)) - -⚠️ **This vault is no longer active.** The v1 LINK yVault has been deprecated for the v2 LINK yVault. Please migrate your funds via our zap or withdrawal. - -### v1 Ethereum yVault ([yvETH](https://etherscan.io/address/0xe1237aA7f535b0CC33Fd973D66cBf830354D16c7#code)) - -⚠️ **This vault is no longer active.** The v1 Ethereum yVault has been deprecated for the v2 Ethereum yVault. Please migrate your funds via our zap or withdrawal. - -### v1 WETH yVault ([yvWETH](https://etherscan.io/address/0xe1237aA7f535b0CC33Fd973D66cBf830354D16c7#code)) - -⚠️ **This vault is no longer active.** This vault is inactive and will no longer generate any yield. The v1 WETH yVault has been deprecated for the v2 WETH yVault. Please migrate your funds via our zap or withdrawal. - -### v1 DAI yVault ([yDAI](https://etherscan.io/address/0xACd43E627e64355f1861cEC6d3a6688B31a6F952#code)) - -⚠️ **This vault is no longer active.** This vault is inactive and will no longer generate any yield. The v1 DAI yVault has been deprecated for the v2 DAI yVault. Please migrate your funds via our zap or withdrawal. - -### v1 mStable USD yVault ([yvmUSD](https://etherscan.io/address/0xE0db48B4F71752C4bEf16De1DBD042B82976b8C7#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve mUSD Pool yVault to continue earning yield. - -### v1 Curve hBTC Pool yVault ([yvhCRV](https://etherscan.io/address/0x46AFc2dfBd1ea0c0760CAD8262A5838e803A37e5#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve hBTC Pool yVault to continue earning yield. - -### v1 Curve USDP yVault ([yvusdp3CRV](https://etherscan.io/address/0x1B5eb1173D2Bf770e50F10410C9a96F7a8eB6e75)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve USDP yVault to continue earning yield. - -### v1 Curve AnkrETH Pool yVault ([yvankrCRV](https://etherscan.io/address/0xE625F5923303f1CE7A43ACFEFd11fd12f30DbcA4#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve AnkrETH Pool yVault to continue earning yield. - -### v1 Curve HUSD Pool yVault ([yvhusd3CRV](https://etherscan.io/address/0x39546945695DCb1c037C836925B355262f551f55#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve HUSD Pool yVault to continue earning yield. - -### v1 Curve BUSD Pool yVault ([yvcrvBUSD](https://etherscan.io/address/0x2994529C0652D127b7842094103715ec5299bBed#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve BUSD Pool yVault to continue earning yield. - -### v1 Curve USDN Pool yVault ([yvusdn3CRV](https://etherscan.io/address/0xFe39Ce91437C76178665D64d7a2694B0f6f17fE3#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve USDN Pool yVault to continue earning yield. - -### v1 Curve EURS Pool yVault ([yveursCRV](https://etherscan.io/address/0x98B058b2CBacF5E99bC7012DF757ea7CFEbd35BC#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve EURS Pool yVault to continue earning yield. - -### v1 Curve sUSD Pool yVault ([yvcrvSUSD](https://etherscan.io/address/0x5533ed0a3b83F70c3c4a1f69Ef5546D3D4713E44#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve sUSD Pool yVault to continue earning yield. - -### v1 Curve AAVE Pool yVault ([yva3CRV](https://etherscan.io/address/0x03403154afc09Ce8e44C3B185C82C6aD5f86b9ab#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve AAVE Pool yVault to continue earning yield. - -### v1 Curve 3pool yVault ([yv3Crv](https://etherscan.io/address/0x9cA85572E6A3EbF24dEDd195623F188735A5179f#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve 3Pool yVault to continue earning yield. - -### v1 Curve LINK yVault ([yvlinkCRV](https://etherscan.io/address/0x96Ea6AF74Af09522fCB4c28C269C26F59a31ced6)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve LINK Pool yVault to continue earning yield. - -### v1 Curve mUSD Pool yVault ([yvmusd3Crv](https://etherscan.io/address/0x0FCDAeDFb8A7DfDa2e9838564c5A1665d856AFDF#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve mUSD Pool yVault to continue earning yield. - -### v1 Curve UST Pool yVault ([yvust3CRV](https://etherscan.io/address/0xF6C9E9AF314982A4b38366f4AbfAa00595C5A6fC#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve UST Pool yVault to continue earning yield. - -### v1 Curve YPool yVault ([yUSD](https://etherscan.io/address/0xdF5e0e81Dff6FAF3A7e52BA697820c5e32D806A8)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve Y Pool yVault to continue earning yield. - -### v1 Curve GUSD Pool yVault ([yvgusd3CRV](https://etherscan.io/address/0xcC7E70A958917cCe67B4B87a8C30E6297451aE98#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve GUSD yVault to continue earning yield. - -### v1 Curve DUSD Pool yVault ([yvdusd3CRV](https://etherscan.io/address/0x8e6741b456a074F0Bc45B8b82A755d4aF7E965dF#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve DUSD Pool yVault to continue earning yield. - -### v1 Curve Compound Pool yVault ([yvcDAI+cUSDC](https://etherscan.io/address/0x629c759D1E83eFbF63d84eb3868B564d9521C129#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve Compound Pool yVault to continue earning yield. - -### v1 Curve sBTC Pool yVault ([ycrvRenWSBTC](https://etherscan.io/address/0x7Ff566E1d69DEfF32a7b244aE7276b9f90e9D0f6)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve sBTC Pool yVault to continue earning yield. - -### v1 Curve renBTC Pool yVault ([yvcrvRenWBTC](https://etherscan.io/address/0x5334e150B938dd2b6bd040D9c4a03Cff0cED3765#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve renBTC Pool yVault to continue earning yield. - -### v1 Curve SAAVE Pool yVault ([yvsaCRV](https://etherscan.io/address/0xBacB69571323575C6a5A3b4F9EEde1DC7D31FBc1#code)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve SAAVE Pool yVault to continue earning yield. - -### v1 Curve bBTC Pool yVault ([ycrvbBTC](https://etherscan.io/address/0xA8B1Cb4ed612ee179BDeA16CCa6Ba596321AE52D)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve bBTC Pool yVault to continue earning yield. - -### v1 Curve pBTC Pool yVault ([ycrvpBTC](https://etherscan.io/address/0x123964EbE096A920dae00Fb795FFBfA0c9Ff4675)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve pBTC Pool yVault to continue earning yield. - -### v1 Curve tBTC Pool yVault ([ycrvtBTC](https://etherscan.io/address/0x07FB4756f67bD46B748b16119E802F1f880fb2CC)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve tBTC Pool yVault to continue earning yield. - -### v1 Curve oBTC Pool yVault ([ycrvoBTC](https://etherscan.io/address/0x7F83935EcFe4729c4Ea592Ab2bC1A32588409797)) - -⚠️ **This vault is no longer active.** Withdraw funds or migrate your balance to the v2 Curve oBTC Pool yVault to continue earning yield. - -## Understanding Curve 🚀 Boost Multipliers - -Using the crvCOMP pool, as an example, liquidity providers earn approximately 12.82% APY in trading fees, and an additional 24.72% APY (as of the date of this publication) in the form of CRV rewards, if they stake their liquidity provider tokens in the Curve gauge. - -Depositors can boost the CRV rewards earned by locking CRV into the voting escrow module, with a max boost of **2.5x**. This size of the boost is dependent on the amount of CRV locked in the voter escrow, and the size of the deposit in the liquidity pool, however, this [calculator](https://dao.curve.fi/minter/calc) is useful in modeling potential boost multipliers. The max boost for the crvCOMP pool yields an additional 61.81% APY in the form of CRV rewards, which is displayed below. - -![](71.png) - -Yearn stakes the Curve liquidity provider token into the gauge to earn CRV rewards. 10% of these rewards are locked in our yveCRV-DAO vault (described above) to boost the rewards of all yVaults with Curve strategies. - -For more information on Curve boost multipliers please see Curve’s documentation for this topic — [here](https://hackmd.io/CawF8dfsSk2OlN7-ubjipQ) - -# Fantom Vaults 👻 - -Yearn Finance is now Multi-Chain! Yearn yVaults are now [live on the Fantom Network](https://beta.yearn.finance/#/vaults)! Just like our v2 yVaults, the new Fantom yVaults are able to employ multiple strategies per vault. - -![](72.png) - -### ✨ WFTM yVault ([yvWFTM](https://ftmscan.com/address/0x0DEC85e74A92c52b7F708c4B10207D9560CEFaf0)) - -✨ [StrategyTarotLender](https://ftmscan.com/address/0x1922fde0c9f09cd1aeae20c6021a2c18a9cbd589) -Supplies wFTM to [Tarot](https://hackmd.io/zucTisw_RUOQCWFpZYfksg?view) to earn TAROT. Rewards are harvested, sold for more wFTM, and deposited back into the strategy. - -✨ [StrategyLenderYieldOptimiser](https://ftmscan.com/address/0x695a4a6e5888934828cb97a3a7adbfc71a70922d) -Supplies wFTM to either [Iron Bank](https://beta.yearn.finance/#/ironbank) or [Scream](https://hackmd.io/zucTisw_RUOQCWFpZYfksg?view) depending on which has the best yield to generate interest. Rewards are harvested, sold for more wFTM, and deposited back into the strategy. - -✨ [ProviderOfWFTMToBooJointOfWFTMUSDC](https://ftmscan.com/address/0xb51a8a88a3ed9e5043e710BFfC8EaD680395566b) -Supplies wFTM as half of a joint liquidity provider for the USDC-WFTM pool on [Spookyswap](https://hackmd.io/zucTisw_RUOQCWFpZYfksg?view). Rewards are harvested, split between the two pairs, sold for more wFTM, and deposited back into the strategy. - -✨ [GenLevCompV3NoFlash](https://ftmscan.com/address/0x935601c5694f23491921c14aA235c65c2ea2c4DE) -Supplies wFTM on [Scream](https://hackmd.io/zucTisw_RUOQCWFpZYfksg?view) and borrows an additional amount of wFTM to maximize SCREAM earnings. Earned SCREAM is harvested, sold for more wFTM, and deposited back into the strategy. - -✨ [Rebalancer WFTM JointProvider WFTM-MIM](https://ftmscan.com/address/0xff3AeA00d3d58ba1a3672c766cc5060FfCb8cca3) -Supplies wFTM as half of a joint liquidity provider for the Rebalancer WFTM-MIM pool on [Beethoven-x](https://www.beets.fi/). Rewards are harvested, split between the two pairs, sold for more wFTM, and deposited back into the strategy. - -![](73.png) - -### ✨ YFI yVault ([yvYFI](https://ftmscan.com/address/0x2C850cceD00ce2b14AA9D658b7Cad5dF659493Db)) - -[StrategyLenderYieldOptimiser](https://ftmscan.com/address/0xDf262B43bea0ACd0dD5832cf2422e0c9b2C539dc) -Supplies YFI to [Iron Bank](https://beta.yearn.finance/#/ironbank) to generate interest. Rewards are harvested, sold for more YFI, and deposited back into the strategy. - -![](74.png) - -### ✨ DAI yVault ([yvDAI](https://ftmscan.com/address/0x637eC617c86D24E421328e6CAEa1d92114892439)) - -✨ [StrategyLenderYieldOptimiser](https://ftmscan.com/address/0xd025b85db175EF1b175Af223BD37f330dB277786) -Supplies DAI to either [Iron Bank](https://beta.yearn.finance/#/ironbank) or [Scream](https://hackmd.io/zucTisw_RUOQCWFpZYfksg?view) depending on which has the best yield to generate interest. Rewards are harvested, sold for more wFTM, and deposited back into the strategy. - -![](75.png) - -### ✨ USDC yVault ([yvUSDC](https://ftmscan.com/address/0xEF0210eB96c7EB36AF8ed1c20306462764935607)) - -✨ [StrategyLenderYieldOptimiser](https://ftmscan.com/address/0x27a5ce447f4E581aE69061E90521da4B5b298818) -Supplies USDC to either [Iron Bank](https://beta.yearn.finance/#/ironbank) or [Scream](https://hackmd.io/zucTisw_RUOQCWFpZYfksg?view) depending on which has the best yield to generate interest. Rewards are harvested, sold for more wFTM, and deposited back into the strategy. - -![](76.png) - -### ✨ MIM yVault ([yvMIM](https://ftmscan.com/address/0x0A0b23D9786963DE69CB2447dC125c49929419d8)) - -✨ [StrategyLenderYieldOptimiser](https://ftmscan.com/address/0xd0d1f041f93c0ff1091457618e529610c67a76de) -Supplies MIM to either [Iron Bank](https://beta.yearn.finance/#/ironbank) or [Scream](https://hackmd.io/zucTisw_RUOQCWFpZYfksg?view) depending on which has the best yield to generate interest. Rewards are harvested are harvested, sold for more wFTM, and deposited back into the strategy. - -✨ [Rebalancer MIM JointProvider WFTM-MIM](https://ftmscan.com/address/0xab1d2abbe31fa5945bfa0864f29daddcb9cd9eac) -Supplies MIM as half of a joint liquidity provider for the Rebalancer WFTM-MIM pool on [Beethoven-x](https://www.beets.fi/). 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-One year ago in July 2020, Andre gave YFI tokens to anyone in the DeFi community who wanted to be a part of the project by staking, farming or voting. - -Nobody, including Andre, knew what YFI and Yearn would become… - -A DeFi blue chip. - -A magnet for talent and for billions in TVL. - -A collective of builders who value collaboration over competition and integrity over all else. - -Today, just 12 months later, we honor the makers, doers, builders and believers, with the release of a book: - -![](image1.png) -The Blue Pill: A spiritual guide for the past, present, and future of Yearn. - -Its pages document the origin story of Yearn and lay out a crude map for where we go next. - -Yearn is reimagining and rebuilding finance, but it’s also reimagining and rebuilding organizations and the very nature of collaboration, too. - -The book is an invitation for you to join us in the land of infinite possibilities and contribute to the journey ahead. - -![](image2.png) - -To honor the legends who participated in Yearn during Year One, we’ve worked with artist [@ZemmNFT](https://twitter.com/Zemm_NFT) to create [a series of legendary and rare NFTs](https://galaxy.eco/yearn) that grant online access to the book. - -You are the farmers, the stakers, the voters, and the givers who shaped and held YFI from the beginning. We’ve taken snapshots of each of these groups and worked with our friends [@ProjectGalaxyHQ](https://twitter.com/ProjectGalaxyHQ) to bring them to you today. - -Yearn OGs appearing on multiple snapshots can also claim special, rare NFTs. All of the Blue Pill NFTs come with a link to the digital version of The Blue Pill book. - -Those on the snapshots will be the first to view the book, but just as YFI began with a gift this digital book is free and intended to be shared by all. - -So go forth, ye original sowers of the seeds of Yearn. - -Accept our humble invitation to join us in celebration of one year of YFI. - -[Claim the NFTs](https://galaxy.eco/yearn) as a symbol of your place in Yearn history, and share this book those who might join us in building what Yearn is yet to become. - -![](image3.jpg) diff --git a/Articles/_posts/Medium/Yearn.Finance/The Blue Pill/image1.png b/Articles/_posts/Medium/Yearn.Finance/The Blue Pill/image1.png deleted file mode 100644 index 97839af27..000000000 Binary files a/Articles/_posts/Medium/Yearn.Finance/The Blue Pill/image1.png and /dev/null differ diff --git a/Articles/_posts/Medium/Yearn.Finance/The Blue Pill/image2.png b/Articles/_posts/Medium/Yearn.Finance/The Blue Pill/image2.png deleted file mode 100644 index 7c26fe343..000000000 Binary files a/Articles/_posts/Medium/Yearn.Finance/The Blue Pill/image2.png and /dev/null differ diff --git a/Articles/_posts/Medium/Yearn.Finance/The Blue Pill/pill-wt-text.png b/Articles/_posts/Medium/Yearn.Finance/The Blue Pill/pill-wt-text.png deleted file mode 100644 index 7bfc22d48..000000000 Binary files a/Articles/_posts/Medium/Yearn.Finance/The Blue Pill/pill-wt-text.png and /dev/null differ diff --git a/Articles/_posts/Medium/Yearn.Finance/Yearn UI v3/2021-09-17-Yearn-UI-v3.md b/Articles/_posts/Medium/Yearn.Finance/Yearn UI v3/2021-09-17-Yearn-UI-v3.md deleted file mode 100644 index 2fd9bd733..000000000 --- a/Articles/_posts/Medium/Yearn.Finance/Yearn UI v3/2021-09-17-Yearn-UI-v3.md +++ /dev/null @@ -1,265 +0,0 @@ ---- -layout: post -title: "Yearn UI v3.0" -categories: [ Articles ] -image: ./Yearn-UI-v3/image1.png -author: Dudesahn -translator: -publish: true ---- - - -# Yearn UI v3.0 - -### The next iteration of the yearn.finance UI is here - -![](image1.png) - -_v3 landing page design exploration_ - -We’ve rebuilt yearn.finance from the ground up. We’ve worked to address feedback and pain points from v2, and _a lot_ more. v3 is built with user experience, composability, and the multi-chain future in mind, and the beta is live now: [beta.yearn.finance](http://beta.yearn.finance). - -## A vision realized - -![](image2.png) - -_v3 design exploration_ - -A few months after shipping yearn.finance v2 in January, Yearn contributors began a major rewrite with a vision of a fully-featured, scalable system built for the continually evolving DeFi landscape. - -Today, this vision is finally coming to fruition with the new, rebuilt from the ground up, v3 beta being released today to both users and contributors. - -We’ve carefully listened to community feedback and the most pressing pain points have been addressed. The rewrite goes far beyond this however, and features multiple additions and features which aim to greatly improve the user experience and simplify the entire process from beginning to end. - -## Key Improvements - -- You can now see your total position, total historical earnings, and predicted yearly earnings, with vault deposits denominated in both the underlying token and $. -- Any transaction through the interface, including zaps in and out of vaults, is simulated using [Tenderly](https://tenderly.co), showing you the estimated tokens received. No more unexpected slippage or mysteriously failing transactions. -- Wallet page that allows you to easily zap into vaults or supply to Iron Bank with almost any token you hold. -- Vault detail page view with historical vault earnings, underlying token info, and strategy descriptions. -- New “Labs” section to serve as a home for more experimental vaults. -- Fully integrated Iron Bank with dust-free loan repayments and withdrawals. -- Completely redesigned experience for mobile. -- Multiple UI themes, with unique unlockable themes for Yearn NFT holders coming soon. You’ll notice for all screenshots, the cyberpunk theme (find it under settings) is used. - -Please keep in mind that this is a **_beta release:_** nothing is final yet, and we plan to iterate over the next few weeks as we receive feedback and implement further refinements. If you’d like to provide feedback, head to our new [discord channel](https://discord.gg/Rw9zA3GbyE) created for v3 web UI feedback. - -![](image3.png) - -_v3 design exploration_ - -## Wait, which website is this again? - -This is the new yearn.finance, which is maintained by a group of Yearn contributors. [yearn.fi](https://yearn.fi/) is a website maintained primarily by [Andre](https://twitter.com/AndreCronjeTech) and [Anton](https://twitter.com/AntonNellCrypto). - -The sites are complementary; Anton implements features that we add (such as the SDK), and we plan to add new features that Andre and Anton release, such as the risk/protocol dashboard. - -Read below for a **deeper dive** on the beta release (especially useful for B2B or potential integrators), and for future roadmap items at the end. - -## Yearn web infra - -Our new v3 front-end and back-end were designed with scalability and composability in mind, and can be divided up into multiple distinct components: **Lens, Meta, Subgraph, Exporter, SDK, and Front-end.** - -We briefly describe each of them below: - -### Lens - -![](image4.png) - -_Lens block diagram_ - -Yearn’s lens is a group of contracts that aggregate on-chain data to make it easily consumable. The lens includes an oracle, registries, address generators, adapters, and helper contracts. Lens contracts are configurable (allowing calculations to be added/updated individually), all adapters are extendable, and all storage variables can be updated. Lens provides information scoped to any user by asset or protocol, information scoped to a specific vault or Iron Bank market, and information scoped to the entire protocol. - -#### Use cases - -Important use cases for Yearn’s lens include on-chain user balances, vault balances, and TVL (all normalized to USDC via an on-chain oracle) for the entire Yearn protocol. In summary, lens serves as a simple integration point for any protocol or partner who wishes to pull Yearn data on-chain quickly. - -[Lens source code](https://github.com/yearn/yearn-lens/) - -### Meta - -Yearn’s metadata repo is a simple framework that allows front-end vault settings to be tweaked very quickly without requiring any code editing. Yearn team members simply need to edit a JSON file that will automatically build and deploy the updated IPFS metadata files. - -#### Currently supported schemas and features include: - -- Hide a vault from the UI -- Disable deposit/withdraw and/or zap in/out for a vault -- Indicate if a vault has an available migration to a newer version -- Override APY values -- Strategy name and description -- Vault symbol, name, or token icon override -- Underlying token symbol, name, or icon override - -#### Use cases - -- Quickly configure many aspects of a vault even if you are not a programmer (still requires PR review) -- Edit configuration in one place and all integrators are updated -- Maintain control over token and vault names, icons, and symbols - -[Meta source code](https://github.com/yearn/yearn-meta) - -### Subgraph - -![](image5.png) - -_Earnings displayed in dashboard and for each vault_ - -The primary use case of Yearn’s subgraph is to aggregate and transform historical on-chain data and to make it easily queryable. As you can see in the image above, the subgraph is currently used to display: - -- User historical earnings scoped to a vault -- Overall historical user earnings -- Vault historical earnings (shown on vault detail page) - -Since the earnings of each vault are not natively integrated at the contract level we use our subgraph to track events of deposits, withdrawals, and harvests which are then aggregated so earnings can be [calculated](https://github.com/yearn/yearn-sdk/blob/master/src/interfaces/earnings.ts). - -Yearn’s ecosystem is inherently complex which means having a subgraph that provides large amounts of accurate data is difficult. As with all aspects of the website, the code is open-source, so if you notice any problems with your earnings feel free to let us know or submit a PR to the subgraph repo below. - -[Subgraph source code](https://github.com/yearn/yearn-vaults-v2-subgraph/) - -### Exporter - -Yearn exporter functions as our primary API, and contains all APY and TVL calculations. It depends only on the on-chain data, and also provides tools for anyone to permissionlessly verify any measurable aspect of Yearn products. It supports exporting both realtime and historical data. - -[Exporter source code](https://github.com/yearn/yearn-exporter) - -### SDK - -![](image6.png) - -_SDK block diagram_ - -Yearn’s new SDK is the engine that powers our new v3 website, and the front-end was specifically designed around consuming data from the SDK. The SDK aggregates on-chain and off-chain data to serve front-ends and B2B integrations by fetching data from lens, exporter, subgraph, meta, and [Zapper](https://zapper.fi). - -#### Use cases - -- V3 front-end -- B2B integrators: vault management and configuration is taken care of for the integrator. An update in the data our SDK fetches means integrators are automatically taken care of. -- Strategist dashboards - -[SDK source code](https://github.com/yearn/yearn-sdk) - -### Front-end - -While the back-end infrastructure listed above generates the data needed, the front-end consumes it and presents it in a way that users can easily interact with it. - -![](image7.png) - -_v3 FE block diagram_ - -Our front-end code is divided in two different pieces: **v3 core logic** and **UI layer**. - -The **v3 core logic** is meant to be easy to implement in any repo and is in charge of communicating with the SDK and other external data providers, not only by fetching data but also by making POST/WRITE requests. The core logic also models and feeds the UI with a more suitable and traditional data schema, combining all of the different pieces of data (vaults, tokens, user balances, etc). - -The **UI layer** consumes the data directly from the core and displays it as desired in each repo. It can be broken down into five main pages, described below. - -[Front-end source code](https://github.com/yearn/yearn-finance-v3) - -![](image8.png) - -_Closeup of side navbar and dashboard_ - -#### Home - -The home page contains an overview of all of your assets in your wallet, as well as all three Yearn product categories: Vaults, Labs, and Iron Bank. - -#### Wallet - -The wallet view displays all assets in your wallet, their total value, and allows you to either deposit them to any vault or supply the tokens to Iron Bank if a market is available. - -#### Vaults - -Our new vaults page contains a dashboard with user info regarding vault deposits, recommendations (currently displaying highest-yielding vaults), underlying token balance, dollar value, and historical earnings for any vault deposits as well as current APY. Clicking on any vault will bring up the vault detail page. - -#### Vault Detail Page - -![](image9.png) - -_Vault detail page_ - -The vault detail page is a unique URL for each vault (coming soon to labs) that displays vault TVL, APY, underlying token info, strategy descriptions, historical vault earnings, and allows users to deposit and withdraw. - -#### Labs - -One thing users will notice is that yveCRV, yvBOOST, and our yvBOOST-ETH pJar (a product launched in collaboration with [pickle.finance](https://www.pickle.finance)) are no longer on our vaults page. Instead, these have all been moved to our new Labs section. - -What is Labs, you ask? - -Yearn’s vaults were originally created with the idea of being “up-only”, and that users could withdraw at any time. As Yearn’s strategies became more sophisticated and we searched for new ways to generate yield, we realized that many strategies are not well-suited to this specific framework. - -For instance, several strategists have been working on single-sided LP strategies. Between trading fees and staking incentives, the yield on funds in AMM LPs can be quite lucrative — but there is an obvious risk of impermanent loss and/or short-term drawdowns depending on market fluctuations. - -Additionally, protocols like Bancor may require a 24-hour cooldown period to unstake funds. Previously, a requirement like this would break the “withdraw any time” aspect of vaults. - -In labs, we allow more flexibility, and as long as users are aware of the conditions up-front, strategies will allow lock-ups and the potential for temporary losses in pursuit of increased, long-term sustainable yield. - -#### Iron Bank - -Similar to vaults and labs, Iron Bank shows a dashboard with relevant info, including total supplied, total borrowed, borrow limit used, and total borrow limit. - -### Additional Features - -![](image10.png) - -_Simulation of a zap exceeding slippage tolerance_ - -#### Simulations - -Before deposits, withdrawals, or zaps into or out of a vault **we use** [**Tenderly**](https://tenderly.co/) **to simulate the transaction.** This gives a lot of beneficial information to users before they even submit a transaction and commit to spending gas: - -- If the simulation is successful they’ll be able to see roughly the number of tokens that will be received. -- If it’s simulated that the transaction will result in more slippage than the user’s tolerance (for zaps) then a warning will be displayed to the user with how much the actual slippage would likely be. -- If the simulated transaction fails a warning will be displayed to the user. - -In order to simulate a transaction, we first need to make a call to [Zapper’s API](https://docs.zapper.fi/zapper-api/api-guides/zap-in#check-zap-allowance) to see whether the user needs to approve the zap. If they do, then we create a Tenderly fork so we can preserve state between simulations. We then simulate the approval transaction, again using Zapper, to fetch the transaction data that needs to be simulated for the approval. After the approval simulation succeeds we then [fetch](https://docs.zapper.fi/zapper-api/api-guides/zap-in#zap-in) the transaction data for the actual zap and execute another simulation. Finally, we’re able to see the fully simulated data about the zap, without needing the user to approve it first. - -Please note that a simulation will fail if you’re trying to simulate a transaction for which you do not have enough gas. Although we have tested them extensively, simulations are complex actions, so please pass on feedback if you experience any issues or failing simulations. - -#### Mobile - -![](image11.png) - -_v3 mobile experience_ - -Another key requirement for the new website was full mobile support, something that was sorely lacking in the past. - -The website now supports displaying all information from both a full-sized and mobile screen. This includes the user dashboard, search functionality, all action buttons (deposit, withdraw, supply, borrow), APY information, and transaction modals designed specifically with mobile layouts in mind. - -While we don’t currently have a native Yearn app due to some App Stores’ restrictions, we’ve committed to providing a native-like experience on mobile browsers. - -## Future Roadmap - -![](image12.png) - -_v3 design exploration_ - -### The Merge - -Though not quite as dramatic as the merging of Ethereum’s PoW with PoS, the goal of launching v3 web as a beta was to establish full feature parity with our existing web UI before replacing it. In addition to a beta period to collect public feedback and catch bugs, here are some items we are in the process of implementing: - -- Labs page detail views -- Hover tooltips to match v2 (APY, headers, etc) - -### … And Beyond (post-merge) - -- New landing page with improved onboarding — **the sketches in this post are some of the pieces from our v3 design exploration.** -- Historical APY for vaults -- Historical protocol yield and user gas savings -- Gasless zap out approvals -- Gas cost estimations -- Multi-language support -- Integrate [yearn.fi](http://yearn.fi/) risk dashboard -- Integration of [Bowswap](https://bowswap.finance/) to ease moving from low- to high-yield vaults -- Ability to add custom skins -- More detailed user position info on home page -- Ability to hide dust on the wallet page -- Several other things that we can’t announce yet, but will be going live very soon 👻 - -## A Word of Gratitude - -![](image13.png) - -_Yearn web team self-portrait_ - -None of this would be possible without the amazing Yearn community, including dozens of those who have submitted feedback/ideas over the past few months, our web advisor group, all contributors at Yearn, and especially the designers and engineers who worked tirelessly to make this new site a reality (many of whom are pictured in the artwork above). - -If you’d like to help contribute in any way, come join our public [discord](https://discord.gg/8rF374XkXy), create an issue in one of the [repos](https://github.com/yearn) linked above, or share your designs with us on [twitter](https://twitter.com/iearnfinance)! 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Yearn has been steadily growing its stack of CRV tokens to provide increasing rewards for those vaults. - -![](image1.png) - -Anyone can benefit from this by choosing to stake their CRV tokens through Yearn. Let us walk you through what Yearn can offer you and how you too can grow your CRV holdings with a boost! - -## What is CRV? - -CRV is the governance and utility token for CurveDAO, the decentralized organization running the [Curve.fi](http://curve.fi/) protocol. The CRV token’s main purpose is to incentivize liquidity providers on the [Curve.fi](http://curve.fi/) platform as well as getting as many users as possible involved in the protocol’s governance. The CRV token has three main uses: voting, staking, and boosting. Those three things require the users to “vote lock” their CRV in exchange for veCRV. veCRV stands for vote-escrowed CRV, and simply represents CRV locked for a period of time (anywhere from 1 week to 4 years). - -### Staking - -veCRV (staked CRV), receives a share of trading fees from the Curve protocol (50% of all trading fees generated). Those fees are collected and used to buy 3CRV, the LP token for the TriPool (DAI+USDC+USDT), which are then distributed to veCRV holders. - -### Boosting - -Beyond staking, another major incentive for CRV is the ability to boost your rewards on provided liquidity. Vote locking CRV allows you to acquire voting power to participate in the DAO and direct CRV reward allocations towards selected pools, earning a boost of up to 2.5x on the liquidity you are providing. - -### Voting - -Once CRV holders vote-lock their CRV, changing it into veCRV, they can then vote on various DAO proposals and pool parameter changes which are proposed, or propose their own changes. - -It is worth noting that native veCRV cannot be transferred, and the only way to obtain it is by vote-locking CRV. - -You can stake CRV on [Curve.fi](http://curve.fi/) and actively manage your boosts for Liquidity Pools yourself, or you can let Yearn take care of CRV staking for you with our dedicated vaults: yveCRV, and yvBOOST. Also our yVault tokens are tradeable and transferable unlike staking CRV at [Curve.fi](http://curve.fi/). - -## The yveCRV yVault - -![](image2.png) - -### Earn CRV with a better boost - -When a user deposits CRV into the vault, that CRV is locked on the [Curve.fi](http://curve.fi/) platform as veCRV and the user is returned a tokenized version of veCRV, yveCRV. This vault earns you a continuous share of Curve’s trading fees. Every week, these rewards can be claimed as 3Crv (Curve’s 3pool LP token). - -You could do this yourself directly on the [Curve.fi](http://curve.fi/), but there is a very good reason one would prefer to use the yveCRV yVault: **more rewards!** - -How much more? Your rewards through this vault can be more than double! Yearn achieves this because it periodically donates 10% of the farmed CRV it earns through all [Curve.fi](http://curve.fi/) based strategies to this yveCRV vault and allows yveCRV vault depositors to claim Yearn’s share of Curve protocol fees. This means we give all of Yearn’s rewards, which we could have claimed for the protocol, to yveCRV depositors, boosting their weekly rewards. - -Locking your CRV tokens into the vault means that you delegate your [Curve.fi](http://curve.fi/) voting power to yearn. Yearn constantly runs simulations to optimize its voting allocations which maximizes yield across all vaults, benefiting your deposits in other vaults! - -**You can now claim your rewards and spend that money on mojitos while you enjoy retirement.** Though, another option you might want instead is to add your rewards back into the vault to compound your gains and you can even find a “Restake” button to do just that. You could very well do this manually, but Yearn has you covered here with … - -## The yvBOOST yVault - -![](image3.png) - -### Earn boosted CRV with compounding - -The yvBOOST yVault is a fully automated and compounding version of the yveCRV yVault explained above. - -To put it simply, this vault claims your weekly 3CRV rewards automatically and uses them to acquire more yveCRV (either via market-buy or mint, depending on which is most efficient at time of harvest). - -Once deposited, just as in the yveCRV yVault, your CRV tokens’s voting power is handled and optimized by Yearn. You do not need to worry about claiming [Curve.fi](http://curve.fi/)’s weekly protocol fees, the vault does this for you! - -This is a “set-and-forget” vault where your CRV tokens grow exponentially, harnessing the power of compound interest! - -Now you might be wondering how one would extract any gains made from your CRV tokens in the vault, when as mentioned earlier, any CRV deposited into either the yveCRV or the yvBOOST are locked. While you cannot withdraw from the yveCRV vault, you can actually swap both of these vault tokens on Sushiswap. This is because Yearn and its users provide liquidity on Sushiswap to allow swapping of your yveCRV and yvBOOST tokens for ETH (or anything, really). - -### A little alpha. - -Yearn buys yvBOOST from the market, unwraps it into yveCRV, and donates that yveCRV into the yvBOOST vault, increasing the underlying value of yvBOOST. - -## Yearn yVaults for CRV Stakers - -Staking your CRV directly on the [Curve.fi](http://curve.fi/) platform means locking your CRV token in exchange for a non-transferrable veCRV token that allows you to manually claim a share of the protocol’s fee (3CRV). You can use this veCRV token to manually rebalance your votes to obtain a boost on your provided liquidity to the [Curve.fi](http://curve.fi/) platform. - -## Enter Yearn’s yveCRV and yveBOOST vaults - -Both of these Yearn vaults reward CRV stakers with a share of the CRV locked by Yearn, making it an ideal destination for those who wish to stake CRV whilst remaining liquid: - -- Earn a share of trading fees from the [Curve.fi](http://curve.fi/) protocol (3Crv), automatically reinvested (for the yvBOOST vault). -- Earn a share of Yearn’s claim of [Curve.fi](http://curve.fi/) protocol fees, on top of your own rewards (more 3CRV!), automatically reinvested (for the yvBOOST vault). -- The collective voting power of the veCRV tokens is optimized and rebalanced automatically to maximize rewards in all of Yearn’s Curve Pool vaults. -- Receive yveCRV or yvBOOST tokens for your deposited CRV, allowing you to easily extract profit or exit your staked CRV position - -Yearn’s work to automate the yield generation and rebalancing of your crypto assets is especially true in the case of your CRV holdings, and Yearn’s yveCRV or yvBOOST offers a powerful, compounding, “set-and-forget” place to stake your CRV! - -In our next post, we’ll cover keepCRV and the processes for bribes and EPS. Until then… - -![](image4.png) diff --git a/Articles/_posts/Medium/Yearn.Finance/yvBOOST/image1.png b/Articles/_posts/Medium/Yearn.Finance/yvBOOST/image1.png deleted file mode 100644 index 149c9cb17..000000000 Binary files a/Articles/_posts/Medium/Yearn.Finance/yvBOOST/image1.png and /dev/null differ diff --git a/Articles/_posts/Medium/Yearn.Finance/yvBOOST/image4.png b/Articles/_posts/Medium/Yearn.Finance/yvBOOST/image4.png deleted file mode 100644 index 112b53b3a..000000000 Binary files a/Articles/_posts/Medium/Yearn.Finance/yvBOOST/image4.png and /dev/null differ diff --git a/Articles/_posts/SEBA Bank/Yearn-Finance-Decentralised-Asset-Management/2021-06-02-Yearn-Finance-Decentralised-Asset-Management.md b/Articles/_posts/SEBA Bank/Yearn-Finance-Decentralised-Asset-Management/2021-06-02-Yearn-Finance-Decentralised-Asset-Management.md deleted file mode 100644 index cd82d554c..000000000 --- a/Articles/_posts/SEBA Bank/Yearn-Finance-Decentralised-Asset-Management/2021-06-02-Yearn-Finance-Decentralised-Asset-Management.md +++ /dev/null @@ -1,118 +0,0 @@ ---- -layout: post -title: "Yearn Finance - Decentralised Asset Management" -categories: [ Articles ] -image: ./Yearn-Finance-Decentralised-Asset-Management/seba.jpg -author: The Digital Investor -translator: -publish: true ---- - -## Yearn Finance – Decentralised Asset Management - -Summary - -_In this edition of Digital Investor, we cover the largest decentralised asset management protocol, Yearn Finance. We cover its fair launch, the value drivers for the token, its moat and significant protocol updates. Finally, we attempt to find a fair value for the token using DCF._ - -## Introduction - -Yearn Finance is a decentralised finance (DeFi) protocol that pioneered Asset Management for passively earning yield on stable and risky assets. One can think of it as an automated asset manager allocating depositors’ funds into the best yield generating strategies for the highest returns. - -What started as a simple yield generating product called iEarn by Andre Cronje has morphed into a financial edifice built on the bedrock of smart contracts. iEarn was a simple product that would lend assets via the highest interest generating protocol among Compound, Aave, and dYdX. However, Yearn Finance does much more than just allocating funds to different stablecoins savings accounts. - -Yearn Finance offers a wide range of products, the most relevant being vaults. Vaults are dynamic strategy aggregators that allocate funds to various strategies providing the best yield for the depositors in their asset of choice (instead of just stablecoin), allowing users to earn a yield while maintaining exposure to their preferred asset. - -### Background - -Yearn launched its governance token YFI in mid-July 2020 and is touted as one of the fairest token distributions in the space. YFI tokens were awarded to liquidity providers of specific Curve and Balancer pools who had staked their liquidity in the protocol. In the beginning, only 30,000 YFI were minted and fully distributed to all the stakers. The community approved Proposal 0, which allowed minting more YFI to create ongoing incentives for liquidity providers, developers and contributors. - -With limited supply and high usage, YFI price skyrocketed from USD 32 to a high of approximately USD 43,000 within a couple of months of launch despite the founder’s assertion that it has zero financial value. However, we believe that the [governance token](https://www.seba.swiss/research/governance-tokens-coordinating-the-human-element/), YFI, must have significant value for the platform to function well as the token holders decide the outcome for the depositors. At the time of writing, Yearn Finance has USD 3.8 billion of value locked, of which approximately [78% is locked](https://yearn.science/) in the vaults. - -### Why should YFI have a non-zero value? - -Not all governance tokens are the same. YFI allows holders to vote on strategies for different vaults, change the fee structure, mint new coins and distribute rewards to contributors. Token holders also control the protocol treasury of about USD 0.6 bn. A non-zero price means that those who take governance decisions have something to lose in case a bad decision is taken. Consequently, token holders are incentivised to take good decisions that increase the attractiveness of strategies and increase AuM and protocol revenue. - -## Yearn’s defensibility - -Open source projects can be forked. What is Yearn’s defensibility in this case? One of the primary moats for Yearn is that it shares the spoils with the strategy writers. As per the YIP-52 (Yearn Improvement Proposal), Yearn made vault strategists equal partners in the strategy. Yearn vaults charge a 2% annual maintenance fee and a 20% performance fee from the depositors. Before YIP-52, the strategist earned only 0.5% from the performance fee, 19.5% went to the protocol treasury. After YIP-52 got approved, the profit is split equally between strategist and treasury. If the vault is sizeable, a good strategy can fetch substantial gains for its writer. Yearn has the highest AuM of any decentralised asset manager and, there- fore, provides the highest incentive for the best strategy writers to share their strategy with it alone. This creates a virtuous cycle of better returns, higher AuM and better strategists. - -Secondly, though ironic, trust is an essential aspect of increasing network effects. As has been seen in some Binance Smart Chain forks of Ethereum projects, hacks and exploits are more likely if the team has forked the project and does not understand it deeply. Yearn’s team is a pioneer in the space and has shown that they can adapt to a changing environment. When yields fell, they changed vaults’ strategies to increase it. When new strategies were not being developed, the governance took a call to increase strategists’ rewards. Adaptability points towards the team’s ability to deliver over the long-term while forks may have a shorter life. - -### But is yield a constant feature of Yearn? - -An obvious question is whether yields within cryptoassets are constant. Thankfully, traditional finance has not set the bar too high, with close to 0 per cent interest rates in the developed world. We think that yields within the cryptoasset ecosystem will follow cycles. Higher yield attracts more users, which then increases the fees. Higher fees discourage small investors, and thus, the yield [falls](https://www.seba.swiss/research/yearn-finance-decentralised-asset-management/#1)[^1]. As smaller investors stop interacting with the blockchain, the fees drop. The next cycle of price rise combined with lower fees again encourages smaller investors to participate, and the cycle repeats. Our [previous Digital Investor](https://www.seba.swiss/research/defi-investment-strategies-a-performance-review) explains this hypothesis. - -Though the prices of DeFi tokens took a hit in the recent crypto crash, the number of tokens locked in various DeFi protocols was almost constant. More and more bitcoins and stable- coins want to be on the Ethereum blockchain in search of yield. We believe DeFi has a long way to go still. - -## Investment thesis - -### Bottom-up - -The rise of DeFi allows holders to benefit not only from price increases but also from earning passive income on various assets. Yearn facilitates the latter. Though holders can independently earn this yield without Yearn, the protocol offers a few benefits. Firstly, it is safer than the average holder moving their own funds around. DeFi is a wild west, even those who understand technical aspects have been victims of hacks and exploits. An average user cannot possibly audit smart contracts and deploy funds in a dynamic environment. Yearn’s team is vastly experienced and understands the pitfalls better than its users, and therefore is in a position to provide better risk-adjusted returns. Secondly, we know gas prices can be very high. Small investors (<USD 10,000) are priced out and cannot keep up with the yield farming activity. Yearn provides the option to pool the funds and thus subsidise gas costs. - -YFI benefits directly from the platform’s earnings. The protocol charges 2% management fees and 20% performance fee. The entire management fees and 50% of the performance fees accrues to the treasury that is controlled by the token holders. Net of expenses, protocol earnings are used to buy back YFI from the open market (see YIP-56 below). With a limited number of YFI, growing TVL, and constant buy pressure from the treasury, the tokenomics are likely to act as a strong driver for the price. - -### Top-down – the macro-environment craves for a product like Yearn Finance - -Most of the developed world is ageing. Baby [boomers](https://www.seba.swiss/research/yearn-finance-decentralised-asset-management/#2)[^2]will retire in the next few years, and pensions will become an essential aspect of their lives. Unlike the generation before baby boomers, the current conditions for retirement are different. Firstly, as life expectancy has increased, retirees at 60 will likely live for 25 more years, relying heavily on their pensions. Secondly, when the previous generation retired, the interest rates were around 18%, favouring savers. Currently, the interest rates are near 0, which does not incentivise saving. The combination of a large population hitting the retirement and near-zero interest rates is a poor combination. Most of the developed world is facing (or will face) this problem. - -Bitcoin has been the flag bearer of the cryptoasset industry. However, 2020 has proven that stablecoins are also one of the exciting aspects of the digital asset revolution. With stablecoins comes the opportunity of earning a yield on dollars. It is an exciting opportunity not only for crypto natives but also for sophisticated funds where the mandate would be to make about 6-8% annual returns on some part of their portfolio. Pension funds currently hold about [USD 32 trillion](https://www.oecd.org/pensions/Pension-Funds-in-Figures-2020.pdf) (the US alone holds about USD 18.8 trillion) in assets. We live in a world where the total negative-yielding debt has surpassed [USD 17 trillion](https://www.ft.com/content/378acc52-b1a5-4d58-8a87-8ea052b2c610), and public companies such as Microstrategy and Tesla are choosing bitcoin as a reserve asset. - -While it may be too early for pension funds, more adventurous funds and individuals might be tempted to test platforms built on Ethereum to escape from their negative yield environments. As traditional finance and decentralised finance integrate more, Yearn Finance will be well-positioned to claim a significant share of the capital as the leader in the decentralised asset management space. - -## Governance and significant protocol changes - -Yearn Finance is one of the most active protocols as far as governance is concerned. In general, proposals are first discussed on the governance forum, and then they go for on-chain voting in the form of YIP (Yearn Improvement Proposal). Yearn is also the first DeFi protocol to provide [quarterly earning’s report](https://github.com/yearn/yearn-pm/blob/master/financials/reports/2021Q1-yearn-quarterly-report.pdf) regularly. We think this should become the norm in the DeFi space. - -### Change in YFI supply (Proposal 0 and YIP-57) - -The first-ever proposal was to change the YFI supply. YFI had started with one of the fairest launches, and the community decided to mint more tokens later. Recently, as per [YIP-57](https://gov.yearn.finance/t/yip-57-funding-yearns-future/9319), 6,666 new YFI tokens were minted to support protocol development. It allowed Yearn to extend vesting packages (2,222 YFI) to developers to align incentives. The rest of the tokens are with the treasury to use for protocol growth. - -### Change vault fee structure (YIP-51) - -Yearn V1 vaults had a different fee structure where every withdrawal was charged. [YIP-51](https://gov.yearn.finance/t/yip-51-set-vault-v2-fee-structure/7752) changed the fee structure to a 2/20 model, where the protocol charges a 2% maintenance fee and a 20% performance fee. - -### Make strategist skin in the game partner (YIP-52) - -Out of the 20% performance fee, 19.5% went to the treasury, while 0.5% was allocated to the vault strategist. Governance approval of [YIP-52](https://gov.yearn.finance/t/yip-52-make-strategist-skin-in-game-partner-for-make-benefit-of-glorious-brain-of-yearn/7856) made strategist an equal partner in performance. The rationale for this change was simple, yearn’s defensibility relies on strategists exploiting best of yield opportunities. And the protocol needs to incentivise the best of the strategists to do the same. - -### Buyback and build (YIP-56) - -When YFI started, YFI holders had to stake YFI into the governance vault to claim a stake of protocol income. With [YIP-56](https://gov.yearn.finance/t/yip-56-buyback-and-build/8929) in effect, the governance vault was retired, and the protocol started distributing profits by buying back YFI from the market. It simplified staking and governance and spread the rewards across token holders. The YIP also made gains more tax-efficient as capital appreciation through buybacks could be taxed less than dividend income through staking rewards. Another by-product of this improvement was making YFI more efficient as holders can vote while putting YFI to use. For example, users can put YFI as collateral to mint DAI in Maker and earn interest on DAI using other DeFi protocols. - -## Valuation - -Cumulatively, Yearn has generated more than USD 8 million in rewards since August 2020, out of which close to USD 5 million earned until April 2021, where April alone amounted to USD 2.7 million. - -Valuing Yearn Finance is a tedious task. Yearn works with several other protocols, whether in the form of tie-ups or just using them. Some noteworthy mentions are Curve, Sushiswap, Cream, and Badger. The composability makes it difficult to project how the growth may pan out. - -We assume three scenarios – bullish, base-case, and conservative. Scenarios use different growth and income per unit dollar spent assumptions. For the bullish scenario, income/ expense is 2x while the same for base-case and conservative scenario 1.5x and 1.2x, respectively. - -Using a discounting rate of 25%, terminal growth rate of 5%, and giving equal weight to all three scenarios, we arrive at a fair value of USD ~75,000 per YFI. - -### Figure 1: Bullish scenario - -![alt_text](image1.png "image_tooltip") - -### Figure 2: Base Case Scenario - -![alt_text](image2.png "image_tooltip") - -### Figure 3: Conservative Scenario - -![alt_text](image3.png "image_tooltip") - -## Risks - -Just as all other DeFi protocols, Yearn is vulnerable to smart contract risk. Idiosyncratic risk to Yearn is yield dying out and staying low for a long time. Low yield means no incentives for investors to lock up funds in Yearn. Low yield could typically be a bear market phenomenon. How the Yearn team tackles long periods of low yields remains to be seen. Despite the recent drawdown in prices and muted sentiment, Yearn continues to offer lucrative yields on stablecoins and curve related products. - -## Conclusion - -Despite Yearn finance being an open-source protocol where strategies can be copied, we think Yearn has a unique proposition – passively rotate funds to earn high risk-adjusted returns through well-incentivised strategists. We think Yearn Finance’s experienced team and its strong community is its moat. It has the highest TVL among the decentralised asset managers and, with equal profit sharing, is in the best position to attract smart alpha generators. Its ability to retain strategists should give passive investors the confidence that the platform will continue to find consistent alpha for them. - - - -## Notes - -[^1]: One of the most important things to understand here is the origin of the yield. Traditionally, people borrow money and create more value than the borrowed amount to pay the interest. In DeFi, yield is generated by investors believing their risky asset will outperform the interest cost of borrowing stable coins. The other source of yield is protocol issuance, where protocols distribute governance tokens to active users and contributors of the protocol. -[^2]: Those born between 1946 and 1964 diff --git a/Articles/_posts/SEBA Bank/Yearn-Finance-Decentralised-Asset-Management/seba.jpg b/Articles/_posts/SEBA Bank/Yearn-Finance-Decentralised-Asset-Management/seba.jpg deleted file mode 100644 index 941e8a664..000000000 Binary files a/Articles/_posts/SEBA Bank/Yearn-Finance-Decentralised-Asset-Management/seba.jpg and /dev/null differ diff --git a/Articles/_posts/The Blue Pill/The Blue Pill.txt b/Articles/_posts/The Blue Pill/The Blue Pill.txt deleted file mode 100644 index 7f47d043d..000000000 --- a/Articles/_posts/The Blue Pill/The Blue Pill.txt +++ /dev/null @@ -1,561 +0,0 @@ ---- -layout: post -title: "The Blue Pill" -categories: [ Articles ] -image: ./The-Blue-Pill/bluepill.jpg -author: Yearn -publish: false ---- - -The Blue Pill -A spiritual guide for the past, present, and future - -The Blue Pill -PAST • PRESENT • FUTURE - -WHAT IS -YEARN? - -WHERE DID -YEARN COME FROM? - -WHERE IS YEARN -GOING? - -“We are like a baby bird just hatched. -No one designed Yearn. It emerged -from Andre's gift of all the YFI. -It's sink or swim for us. The cells -of Yearn either learn how to pulse -together and move feathers and -wings, or we die in the nest.” -— Anon - -PROLOGUE - -IN THE LAND OF -BLUE PILLS -EVERYTHING -YOU THOUGHT -WAS IMPORTANT -CEASES TO -MATTER - -YOUR TITLE -YOUR NET WORTH -YOUR NATIONALITY -YOUR DEGREES -YOUR LOOKS -EVEN YOUR NAME - -All that matters -is your contribution -This book is an -invitation to -contribute - -IT IS THE HAND BECKONING -FROM THE GAP YOU’VE NEVER NOTICED IN THE HEDGES - -Will you take the well-worn -paths of yesterday? It asks -Or do you wish to go -somewhere new? - -The Yearn Blue Pill has -one overriding goal: -to communicate -Yearn’s vision - -But how do you -do that from -within a network -with no leader? - -HOW DO YOU -UNITE THE VIEWS -OF HUNDREDS -OF DIVERSE -CONTRIBUTORS -FROM AROUND -THE WORLD? - -THE SHORT -ANSWER IS, -YOU CAN’T - -We’re all here for -different reasons -We all have -different goals - -But through candid -discussions with the community, -we’ve found common ground - -This document is -the result of those -conversations -We recognize -these pages as -dangerous - -Naming our vision -could limit us -And we are -limitless - -But today, one year -after the birth of YFI -We’ve recognized the -time has come -We’re putting our -vision on paper - -So that when forks arise -in the road, there is a place -contributors can go -To get an answer to -the question: - -Is this Yearn? -Or is it not? - -TABLE OF CONTENTS -Part One: Past 27 -Part Two: Present 59 -Part Three: Future 81 -PART ONE: PAST - -Every contributor to Yearn has a story, -arc, or journey -And we must begin -with the story -of the first -Andre Cronje - -In 2018, he studied every major crypto project’s code -He read their Githubs line-by-line -He published reviews for all to read - -And in that process, he found the -truth: that most projects were -built on lies and hype -They were forks with fancy names -or forks of forks that didn’t do -what they promised -But some of them were -altogether different -Some of them -inspired him to build - -In 2019, Andre put -on his coveralls -and became -a yield farmer - -But he was not your typical yield farmer -(doing things by hand) -He tended his crops with code -He built and automated all of his -processes directly on Ethereum -And by doing so, he built the -world’s first yield aggregator - -It was a perpetual -yield machine -(DEPOSIT FUNDS AND WATCH THEM GROW) - -Hello, world! -On Feb. 4, 2020, Andre announced the birth of -iearn.finance (which would become Yearn) -“Don’t do it the way I did it, which was hard, -cost me a lot of money, and has created very -little network effect,” he wrote - -But, the world has a way of -finding things of value -It saw iEarn, and saw -that it was good -And capital came flooding in - -“I TEST IN PROD,” -ANDRE PROCLAIMED -BE WARNED -iEARN WAS NOT AUDITED -IT WAS “DANGEROUS” -AND IT WAS -REVOLUTIONARY - -The revolutionaries noticed -One by one, they came… -new contributors with -fantastical names - -(THE BUNNY) - -(THE GHOST) - -(THE DUDE) - -(THE BIRD) - -(THE GLASS OF MILK) - -They weren’t merely interested -in finance; they were -interested in the FUTURE - -They saw what this experimental -project could become: -a gargantuan, unstoppable, -extra-governmental, -decentralized, permissionless, -self-healing, collective organism -with a heart pumping yield to -the rhythm of each new block - -A ubiquitous yield-layer to -underpin every financial -instrument on the planet − -no banks or middlemen with -golden cufflinks required - -They wanted to contribute and -they asked to get involved -They helped iEarn -morph into Yearn -They suffered attacks, hacks, -and scathing criticisms - -But they worked together… -United across the globe by an -unspoken sense of purpose - -“It has been amazingly fun to -face all these challenges, -and each one I believe has -created a more robust ecosystem,” -Andre wrote on February 4, 2020. -“Looking forward to many -more problems to come” - -At Yearn, contributors don’t shy -away from the hard things, -they seek them out -Remember: they hide -opportunities -There’s a philosophy in -Andre’s message: -Look forward to problems - -PROBLEMS ARE -THE CLAY WE USE -TO MOLD THE -FUTURE - -On July 17, 2020, Andre announced -he was giving away control -Anyone providing liquidity on Yearn could -earn YFI, a brand new governance token -(pronounced “wifey”) that granted holders -power over the platform’s future -“The control is in your hands,” Andre said -“Good luck” - -“The roots of Yearn are in the gift,” -one contributor said -“Andre’s fair launch was a revolutionary act -that put generosity in the DNA of -the whole community,” another said -Yearn doesn’t ask what it can extract -It asks what it can give away -Not three months later -it was clear the experiment -had become something -much larger than any -one contributor -It was a movement -“I am not Yearn,” -Andre wrote - -“Consider how big the ecosystem has become, consider all -the websites, tooling, newsletters, forum, Discord, Telegram, -and active development on Github. None of these are done by -myself. I am a rapid prototyper and I will continue to be one.” - -“The Yearn team is far more skilled and capable than I am, -and anyone that thinks Yearn is dictated, led, or in any way -dependent on me, is doing Yearn a disservice. I am happy -to be a contributor to something much bigger.” -“I don’t foresee builders stopping, and I will continue to build. -Some of it will be useful, some of it will end up failures. -But I think there is more value in trying, even if it is -a failure, than all the critics deeming it so.” - -There are few things in the -world more powerful -than the gift -Andre Cronje gave -away all the YFI -Every -Single -One - -Over a billion dollars in value -The inflaton field from this cosmic gift has left -an indelible mark on the collective -Its vibrations echo -in every one of us -It called us here -Not for money -Not for fame -But because that’s what gifts do -They are magic -Andre cast a spell into this world woven with -integrity, genius, and generosity -And Yearn was what he summoned - -PART TWO: PRESENT - -Question: What is Yearn? -An innovation factory? -A yield-aggregator protocol? -An intersubjective life-form? -Something else, entirely? -Question: Who can contribute to Yearn? -Answer: You -Whoever you are, wherever you are, -you may know what Yearn is -better than we do -Come show us - -Yearn is an emergent -and evolving experiment -in decentralized collaboration -It has no papers of incorporation, -no headquarters, nor even a list -of names and locations for -its contributors - -Yearn is open -Everything it builds is visible -Yearn is post-corporate… -a place where you never have -to sell yourself because your -contributions speak for you - -AT YEARN, YOUR WORK -IS NOT ASSIGNED -IT IS GUIDED BY YOUR INNER VOICE - -Question: What if the most radical component of Yearn -isn’t the yield machine? The machine, after all, is -a technical apparatus constructed of code -It cannot exist without its -network of hearts and minds - -Perhaps the network itself is the -Most radical part of Yearn -Our unique DAO (DECENTRALIZED AUTONOMOUS ORGANIZATION) -and those who embody it - -In October 2020, -Yearn contributors -laid out a manifesto -First, it named what Yearn is not: - -YEARN IS NOT -A COMPANY -YEARN DOES NOT -HAVE INVESTORS -YEARN DOES NOT -CATER TO SPECULATORS - -YEARN DOES NOT -HAVE AN OFFICIAL VOICE -YEARN IS NOT -OWED ANYTHING -FROM ANYONE - -Then, it named what -Yearn is: - -YEARN IS A COLLECTIVE -OF CONTRIBUTORS -YEARN IS EQUAL -OPPORTUNITY -YEARN IS FOR BUILDERS -YEARN IS FOR -SELF-STARTERS - -YEARN IS FOR -COLLABORATORS -YEARN IS INFLUENCED -BY MERIT -YEARN IS GOVERNED BY YFI, -BUT YFI DOES NOT GOVERN -YEARN’S CONTRIBUTORS - -YEARN IS -CONSTANTLY EVOLVING - -AND FINALLY: -“WHAT YEARN IS TODAY, -MAY NOT BE WHAT IT -IS TOMORROW − -WHAT YOU DO AFTER -READING THIS MAY -CHANGE YEARN FOREVER. -IT’S UP TO YOU.” - -Yearn has contributors who -haven’t written a line of code and -others who have spent decades -developing software -Both groups ask, -“Am I good enough to be here?” - -The answer is simple -YES -It’s not about -what’s come before, -it’s about now - -We are here now -If you have fallen down Yearn’s -gravity well, there is a reason -Let’s bump against the impossible -and see if it moves - -No one knows the future -(That’s because it doesn’t exist) - -PART THREE: FUTURE - -HERE WE ARE -THE SELF_SOVEREIGN -BEINGS OF YEARN - -We are leaders and seekers who -Work in the gift to invent the future -We came from chaos and have chosen not to project the -rigid, closed, hierarchical control structures imprinted -In our collective memory into the pure -Formless space in front of us -We chose the harder path -The path of creation - -And we are not the first -Decades before Satoshi, pioneering spirits had already -begun exploring the future of coordination -The writer Frederic Laloux calls these -rare endeavours Teal organizations -They have been around for decades, hidden in plain -sight, doing things you’d think were impossible: -functioning with radical transparency; working -without managers, bureaucracy, or even budgets - -THESE TEAMS WORK AT -THE SPEED OF TRUST − -THE FASTEST WE CAN EVER GO -EVERYONE IS A LEADER, -DECIDING FOR THEMSELVES -HOW TO FOLLOW THE GROUP’S -EVOLUTIONARY PURPOSE - -This is how we work at Yearn -We are not a machine -We are life itself -We are not Red, Amber, -Orange, or Green... -We are Teal -And we are Blue - -We will chart our own course -The future of work is like a party -bike that we ride together, each -peddling as much or as little as we -want, and when someone knows -where to go next, they get to steer -And there is no map for -where we are going - -To get there, we must cross the -river by feeling for stones - -Our eyes won’t help us, -nor will our minds -A heart cell doesn’t know -how to climb a mountain, but -when it pumps blood and -trusts its friends, well then it -might just find the summit - -Now what if I told you that each -of us is made up of whole beings, -is a whole being, and is a part -of larger whole beings? -And then what if I said that those -larger whole beings have their -own uncharted territory ahead? - -Well, for those of us who have already embarked -on this journey together, we feel this future in -our bones, singing to us -Our vision isn’t a roadmap with a set -of goals and deliverables -It is this song -Yearn’s voice -(YEARN AERIAL DIVISION) - -THE SOUNDLESS VOICE -OF OUR COLLECTIVE, -CALLING TO US FROM -BETWEEN THE PAGES - -We are in the realm of -networks now -In DeFi (DECENTRALIZED FINANCE), and at Yearn, -this is the new world - -We are not companies with closed boundaries, -corporate veils, NDAs, and non-competes — -we are permeable, overlapping network entities -sensing and responding in real time from a -thousand empowered autonomous beings - -Top-down management leveraging commandand-control heirarchies are for the mahogany -boardrooms of yesteryear -And we are navigators, adventurers, -and explorers of the future -We are married to the sea - -WE ARE BUILDING A SHIP -It will carry anyone who -wants to board -Any age, any gender, -any worldview -You are all welcome -You are all necessary -Find an oar and start pulling - -Yearn is a ship from -the fleet of tomorrow - -WE HAVE BUILT IT FROM -THE LUMBER OF -THE DARK FOREST -NOW THAT WE’RE HERE, -YOU CAN SEE THAT THE -DESTINATION DOESN’T -MATTER AT ALL - -We can sail the seas of yield -aggregation, or we can -go find new dragons -We will write protocols -beyond the edge of the map - -All that matters is -that we sail diff --git a/Financials/_posts/Quarterly-Report/2021-Q2/2021-09-11-2021-Q2.md b/Financials/_posts/Quarterly-Report/2021-Q2/2021-09-11-2021-Q2.md deleted file mode 100644 index 2c4baa5f7..000000000 --- a/Financials/_posts/Quarterly-Report/2021-Q2/2021-09-11-2021-Q2.md +++ /dev/null @@ -1,392 +0,0 @@ ---- -layout: post -title: "Yearn Finance 2021 Q2 Quarterly Report" -categories: [ Financials ] -image: ./2021-Q2/image1.png -author: Yearn -translator: -publish: true ---- - -# Yearn Finance Quarterly Report - -![banner](image1.png) - -## For Q2- 2021 - -DISCLAIMER - -The data, statements and information presented in this report is for informational purposes -only, and it does not constitute financial or investment advice. Further, the financial statements -presented have not undergone a comprehensive financial statement audit from a third-party -professional accounting firm. As such, there may exist errors or inaccuracies that materially -misstate the financial statements. We are not responsible for any financial losses or adverse -outcomes that may result from making investment decision based on the data presented -herein. Further, by viewing this report you agree that the statements in this report do not -constitute a representation, warranty or guaranty regarding any matter, and you are not relying -thereon, but will conduct your own due diligence. You hereby release, waive and relinquish any -and all claims, causes of action and disputes against Yearn Finance, its contributors, and the -creators of this document. THIS REPORT DOES NOT CONSTITUTE ADVICE FOR ANY PURPOSE. - -The forward-looking statements in this report are subject to numerous assumptions, risks and -uncertainties which are subject to change over time. There are many risk factors, including -those relating to blockchain and cryptographic technology generally, as well as Yearn -specifically, that could cause actual results or developments anticipated by us not to be realized -or, even if substantially realized, to fail to achieve any or all of the benefits that could be -expected therefrom. We reserve the right to change the plans, expectations and intentions -stated herein at any time, and we undertake no obligation to update publicly or revise any -forward-looking statement, whether as a result of new information, future developments or -otherwise. ACCORDINGLY, WE RECOMMEND THAT YOU DO NOT RELY ON, AND DO NOT MAKE -ANY FINANCIAL DECISION OR INVESTMENT BASED ON, THE STATEMENTS CONTAINED IN THIS -UPDATE —INCLUDING BUT NOT LIMITED TO ANY SELLING OR TRADING OF YFI TOKENS, ETHER -OR ANY OTHER CRYPTOGRAPHIC OR BLOCKCHAIN TOKEN. - -## Table of Contents - -- Introduction to Yearn Finance -- Income Statement -- YFI Buybacks -- Strategist Earnings -- Balance Sheet -- Yearn is Debt Free -- Total Value Locked -- Interactive Financial Dashboard -- Sources - -## An Introduction to Yearn Finance - -![](image2.png) - -Yearn Finance (“Yearn”) is the leading yield-aggregator protocol in decentralized finance (“DeFi”) -operating on the Ethereum blockchain. The protocol launched in early 2020 with the iEarnproduct -that algorithmically shifts stablecoins(USDC, USDT, DAI) between several lending protocols in DeFi -to obtain the most optimal interest rates at all times. This product is known as the yPoolon Curve -Finance. Curve is a decentralized stablecoin exchange focusing on low-slippage swaps between -various stablecoin assets. In July 2020, the YFI token was distributed over approximately 10 days to -users that provided capital into liquidity pools involving the yPool–a process known as “farming” or -“yield-farming”. The YFI token governs the Yearn protocol. - -Shortly after the distribution of the YFI token the yVault product offering was introduced. yVaults -enable users to deposit capital into smart contracts and Strategists –specialized yield-farming -experts –automatically and efficiently earn yield on behalf of the depositors. Gas costs are -socialized across the entire pool making it more economical for small users to participate in yield- -farming. Users also do not need to have an advanced knowledge of DeFi, yield-farming, or liquidity -providing, as the Strategist will perform the necessary actions on behalf of the user. Profits from -yield-farming are periodically harvested by the Strategist and deposited back into the vault; -depositors have claims over these profits. The yVault product represents Yearn’s core business, but -starting in early 2021 Yearn Treasury began engaging in yield-farming with its own assets to -generate additional cash flows. - -Yearn engaged in a series of partnerships in the fall of 2020, forming the Yearn Ecosystem. These -partnerships include SushiSwap(Automated Market Maker), C.R.E.A.M (lending), Keep3r Network -(automated job platform), Akropolis, and Pickle Finance (yield-aggregator). While the protocol -specified above in conjunction with Yearn Finance comprise the Yearn ecosystem, the YFI token -does not govern the other protocols in the ecosystem. - -Version 2 of the yVault product was launched in early 2021 and includes a revised fee schedule and -the ability for vaults to incorporate multiple strategies per vault. Version 1 yVaults are only able to -employ one strategy per yVault. - -## Adjusted EBITDA for _Q2- 21 was $16.4m and $6.6m_ was generated in May-21 alone, representing Yearn’s most profitable month. Quarterly EBITDA growth increased 235% from Q1 to Q2. - -![](page5.png) - -### Basis of Presentation - -The financial statements are presented on an accrual basis of accounting. The fiscal year for Yearn ends -calendar year ending December 31st. Figures are displayed in United States dollars (“USD”) and rounded to -the nearest thousand. The financial statements are compiled with the use of estimates and non-USD assets -are converted to USD by obtaining closing prices from Coingecko.com, or by obtaining prices directly by -querying the Ethereum blockchain. The financial statements have not undergone a comprehensive financial -audit by a professional third-party accounting firm. They are intended for informational purposes only and -should not be used for financial, investment, or advice of any kind. There may contain immaterial arithmetic -errors in the tables presented, this is due to rounding. - -- The yVaultproduct line is Yearn’sprimary revenue generator and experienced phenomenal growth in Q2. - yVaultgrowth is attributable to increases in total-value-locked (TVL) in Yearn vaults along with increased - yields in DeFithat affects Yearn’soverall profitability. One of the primary yVaultstrategies involves - generating yield by earning and selling the Curve governance token (CRV). The price of the CRV token - increased in Q2 positively affecting Yearn’sprofitability. -- During Q2 Yearn began transitioning from v1 to v2 of it’s yVaultproduct line. v2 yVaultsare more advanced, - resilient, and sophisticated providing more vault for Yearn’susers. As displayed in the table at left, more - revenues were generated by v2 vaults –most notably in Jun- 21 – as a large portion of Yearn’sTVL was - migrated to v2 vaults. _Detailed yVaultdata is presented in a later section of this report._ -- In late Feb-21, Yearn began earning yield on idle assets held in Treasury. In late May, Yearn reduced its - Treasury yield-farming activities due to volatility in the market to protect capital from potential liquidations. - No Yearn capital was liquidated, but earnings from these yield farming activities decreased in May and June. -- Cost of revenue consists of gas costs used to deploy contracts, payments owed to affiliate partners, or other - miscellaneous activities related our yVaults. Cost of revenue is a variable costs that increases or decreases - directly with top-line revenue. Additional harvests of yVaultsor elevated Ethereum gas prices affect this line - item. Another material component of cost of revenue is the Yearn Partners program. - -## Income Statement – continued. - -![](page6.png) - -- Yearn contributors are eligible to receive YFI as part of a vesting compensation plan. This vesting was - approved by Yearn governance with YIP-57: Funding Yearn’sFuture. YFI is vesting monthly for 3 years - after the contributor commences work with Yearn. Yearn is able to claw back unvested YFI in the - event the contributor ceases to work for Yearn for any reason. Contributor vesting is expensed in - accordance with the accrual basis of accounting, however, since it is a non-cash expense it is - excluded, among other items, to arrive at adjusted EBITDA -- Administrative salaries make up a meaningful portion of operating expenses after excluding token- - based compensation, which is a non-cash expense. These salaries are necessary to maintain, develop, - and oversee the protocol. The number of full-time contributors increased during Q2 as Yearn - onboarded additional developers, engineers, and operations personnel. _A full list of administrative personnel is presented in a later section of this report._ -- Security expenses consist of bug bounties and smart contract audits. No material security expenses - were incurred for Q2, but $57k was spent on smart contract audits in May, along with an unrelated - $1k bug bounty awarded. -- Yearn launched the Coordinape program to decentralize and distribute community grants to part- - time contributors within the Yearn community. Grants incurred each month are related to the - Coordinape program. -- Other operating expenses consist of UX/UI improvement costs, infrastructure costs, promotional - event costs, and any other unforeseen expenses incurred by the protocol. On a very limited and - periodic basis users of Yearn vaults experience losses either through their error or other unforeseen - events. Yearn reimburses these users and bears the costs. $87k and $338k was reimbursed to users - in May and June, respectively. We anticipate periodic losses to occur in the future, but do not expect - these costs to be large relative to top-line revenue. -- Other income/(expenses) is interest expense associated with Yearn’syield-farming activities with - Treasury assets. Interest is charged on any debt borrowed from decentralized lending protocols in - DeFi. We accrue this interest expense as it occurs in accordance with the accrual basis of accounting. -- Adjusted EBITDA excludes interest, taxes, depreciation & amortization, and various non-cash - expenses (such as token-based compensation) or non-recurring items. - -## Yearn has very high operating margins (~ 50%) as overhead costs are quite low relative to top-line generated revenue primarily from yVaults. This is due to the efficient value accrual model derived from the yVault product line. - -![](page7.png) - -### Key Drivers of Financial Results - -- Presented in the chart at left is the key financial drivers for Q1- - 21 for adjusted EBITDA. Items adjusted include, interest, taxes, - depreciation & amortization, non-cash expenses (contributor - vesting), non-recurring items (airdrops, donations, one-time - unforeseen losses, and capital gains/(losses)). -- yVault revenue remains the key primary drive of adjusted - EBITDA for the quarter. Treasury yield-farming revenue offset - nearly 100% of the administrative salary and grants costs. -- Majority of the operating expenses –though relatively small as a - percentage of revenue –are related to salaries and grants - necessary to maintain and develop the protocol. -- Other operating expenses is primarily unforeseen advents - affecting users that are reimbursed by Yearn. - -# yVault revenue has seen tremendous growth in Q2 and both May and June yVault revenue eclipsed the entire revenue generated for Q1-21. - -![](page8.png) - -- The table presented at left only displays the top 25 yVaultssorted by total revenue for - Q2. Yearn has launched over 125 yVaultsincluded vaults phased out and no longer in - production. -- The yvDAIvault remains our most profitable vault this in partially due to its role within - the Alchemixprotocol. Users of the Alchemixprotocol deposit DAI into our yvDAIvault - earning yield. Alchemixenables these users to obtain a line of credit in the form of alUSD, - a synthetic token native to the Alchemixprotocol. The yvDAIvault is also used by several - of our other yVaults. We expect this vault to contribute meaningful revenue in the future. -- Several vaults transitioned from v1 to v2 yVaultsin June 2021. Most notably the yvStETH, - yvUSDPv1, yvEURSv1, yvLINKv1, yv3CRV v1, yvGUSDv1, yvsUSDv1, among others. Our - v2 vaults are more sophisticated and secure and we encourage all depositors to transition - to v2 vaults. -- Our most profitable ETH yvaultwas yvStETHwhich earns CRV rewards from the StETH - liquidity pool on Curve Finance. CRV rewards are periodically harvested and used to - purchase more of the underlying tokens in the vault. As of the date of this publication, - ETH depositors can earn approximately 8.5% APY with minimal exposure to impermanent - loss (IL). This vault represents among the best risk-adjusted way to obtain yield on - Ethereum without significant IL risks. -- Our yvLINKvault enables Chainlinkholders to obtain yield on their idle tokens without - significant impermanent loss risks. This vault generated nearly $149k in revenue for Yearn - for the quarter. -- The majority of our yVaults are focused on Curve Finance strategies by earning CRV - rewards and depositing into liquidity pools on Curve. - -# Yearn earned $868k yield-farming with Treasury assets in Q2. - -![](page9.png) - -- Yearn earned a material amount of revenue yield-farming with idle assets owned by - Treasury in Q2. The amount earned by these activities partially offset the entire salary - and grants costs ($987k) incurred by Yearn for the quarter. -- Beginning in late May, Yearn substantially reduced its yield-farming activities with - Treasury assets due to higher than normal volatility in crypto markets. Yield-farming - activities were reduced as Treasury assets are held as collateral in loans obtained from - decentralized lending protocols in DeFi. To protect capital Yearn reduced it’s debt. -- As of June 2021, the entire debt owed to Unit protocol was paid down and Yearn - withdrew its entire collateral balance. -- A small amount of debt, relative to Yearn’scapitalization, is still owed to MakerDAO. - However, Yearn’scash balances exceed the debt owed. Yearn is using the debt obtained - from MakerDAOto continue yield-farming activities, though on a lower scale than earlier - in the quarter. -- Interest is related to debt owed to MakerDAOand Unit.xyz, two protocols in DeFithat - enable users to open collateralized debt positions. Interest is continuously accrued until - the debt is paid back and the collateral is unlocked. We expense interest in accordance - with the accrual basis of accounting. -- In May 2021, Yearn incurred a one-time $66k interest expense to the Keep3r protocol. - This is associated with a loan Keep3r gave to Yearn related to the KP3R/ETH liquidity pool - that Yearn utilizes to pay Keepers that harvest Yearn yVaults. We do not expect this - interest expense to occur in the future. - -# The full-time contributor team expanded in Q2 adding additional developers, marketing and operations personnel. - -![](page10.png) - -- The full-time contributor team has expanded and now consists of twenty-six individuals. -- There are now thirteen developers, ten operations personnel, and one personnel each - for marketing, design, and legal. -- Administrative salaries for Q2-21 was less than 5% of gross profit generated for the - quarter. - -# Coordinape distributes the majority of Yearn community grants and is a novel and innovative approach to decentralized payments. - -![](page11.png) - -- The majority of Yearn community grants are distributed by the Coordinapeprogram. - Coordinapeis a decentralized grant selection and disbursement model. Previously - awarded grant recipients and full-time contributors are each allocated 100 GIVE tokens. - These tokens can be allocated to contributors in the Yearn ecosystem. Salaried - contributors are ineligible to receive grants. The Coordinapebudget, approved by the - yBudgetteam, increased in Q2 and as of June 2021 is approximately $58k per month. -- Redphoneassisted with communication writeups particularly on Yearn’stwitter. -- There are consistently over 50 grant recipients each month from the Coordinape - program. Due to the large number of recipients we have presented the total Coordinape - grant figure instead each individual payment in the table at left. -- You can access Coordinapehere: https://coordinape.com/ - -# Yearn has purchased approximately 81 YFI since beginning it’s buyback program in November 2020. - -![](page12.png) - -- YIP-55: Buyback and Build Yearn was approved in November 2020 and replaced the - earning distribution model (staking) with a buyback model. Earnings after covering - overhead costs are used to buyback YFI on the accrue to Yearn’sTreasury. -- The yBudgetteam determines monthly budgets for YFI repurchases based on a monthly - earnings analysis. YFI accrued to Treasury is used to incentivize future contributors - (vesting), cross-protocol initiatives, or potential future liquidity mining programs and is - determined by the yBudgetand yPeopleteams and ultimately executed by the Multisig. -- Yearn continues to repurchase YFI each month with protocol earnings unless a new YIP - changes this policy. - -# For Jun-21 YTD depositors, governance, and strategists have earned approximately 69%, 22%, and 8% of revenue generated for yVaults. - -![](page13.png) - -- Depositors receive the overwhelming majority of revenue earned from yVaults. Since - inception they have earned $88m of the total $126m generated by yVaults. -- Treasury has earned $28m and Strategists have earned $9.1m of earnings generated - since launch. -- Strategists earnings were lower in FY-20 and January and Feburary2021 as there was a - new fee structure to incentivize strategists more than the prior fee structure. This was - approved by a Yearn Improvement Proposal (YIP) voted on by YFI token holders. -- The current fee structure is a 2% Management fee earned by governance and a 20% - performance fee on profits. Strategists split the 20% performance fee equally with - governance. -- _Note: The strategist fees data presented on this slide is not currently reflected on the income statements displayed in earlier slides. We are in the process of restating the historical income statements to include strategist fees, however; net earnings will not be affected as gross revenue will increase by the same amount as the strategist fee (expense). The next quarterly report will include strategist fees in the income statement._ - -# Yearn owns approximately $151m in assets held in Treasury, and as of June 2021 has no net debt (outstanding debt less cash). - -![](page14.png) - -- **Cash & cash equivalents** –Management fees and performance fees owed to the Yearn - protocol are sent to Yearn Treasury in the form of the yVault liquidity provider (“LP”) - token. Over time, Yearn’s Treasury naturally builds up a reserve of these tokens as more - yVault revenue is generated to the protocol. -- **Accounts receivable** –Represents earned but unharvested revenue generated from Yearn - Treasury's yield-farming. In June 2021, Yearn realized all earned but unharvested profits - related to these activities, which is why there is no accounts receivable. -- **Inventory**–Yearn’s internal yield-farming committee began earning yield on assets held in - Treasury. These items are the line of credit borrowed from MakerDAOor Unit.xyzin order - to yield-farm. All debt was repaid in June 2021, which is why there is no inventory. -- **Prepaid expenses & security deposits** –Prepaid infrastructure costs primarily to Alchemy. - Security deposits are related to the Alchemy service agreement. -- **Other short term assets** –Profits from various miscellaneous Yearn yVaults, such the - yvCurve-LINK or yvCurve-Tricrypto. The majority of the balance in June 2021 is - attributable to the yvCurve-LINK vault. -- **YFI** –Treasury owned YFI obtained from both the addition YFI minted in Feb-21, in - accordance with YIP-52, and on-going YFI purchases with protocol earnings. As of June - 2021, Yearn Treasury owns approximately 4,047 YFI. This balance is escrowed for future - contributors, cross-protocol initiatives, and any potential future liquidity mining - programs. -- **Other long term assets** –Consists of the KP3R/ETH liquidity pool required to generated - credits needed to pay keepers performing harvesting functions for Yearn yVaults. The - market value, including any impermanent losses, of this liquidity pool was obtained from - apy.visionat each month end. - -# Balance Sheet – continued. - -![](page14.png) - -- **Accounts payable & accrued expenses** –Accounts payable are due to service providers or - affiliate partners. Increases in this balance in April and May is largely due to accrued but - unpaid affiliate partner payments. Large payments were made in June 2021, lowering the - liability balance. Partners are typically paid 30 days in arrears. Accrued expenses are - primarily owed but unpaid salaries or grants that eventually get distributed to - appropriate parties. -- **Interest payable**–Accrued but unpaid interest related to debt related to Treasury yield- - farming operations described above. Interest is accrued in accordance with the accrual - basis of accounting. -- **Long term liabilities** –Debt owed to MakerDAOand Unit.xyzrelated to the Treasury yield- - farming. Unit debt was completely paid off in June 2021. -- **Equity**–includes accumulated other comprehensive income related to valuing assets held - on Yearn’s balance sheet to fair market value (FMV) at month-end. - -# Yearn has sufficient cash to repay all existing debt obligations owed to decentralized lending protocols. - -![](page16.png) - -- Users of v1 vaults experienced an adverse event in early Q1 that resulted in an $11m loss. - Yearn covered this loss and reimbursed users by obtaining a loan from MakerDao. The - entire loan related to this incident has been paid off from protocol earnings. -- Yearn still has some outstanding debt owed to MakerDao, but possesses enough cash to - pay this debt at any time. -- The photo presented at left is as of the date of this publication and not reflected of end - of month balance on June 2021 (Q2 closing). - -# Yearn _Total Value Locked exceeded $5.0b in June_, and as of August 19 - -![](page17.png) - -- There has been phenomenal growth in Total Value Locked (TVL) across all Yearn products - in Q1 2021 and continuing into Q2 2021. In June TVL peaked at $5.0b, slightly retraced in - July, but has since rebounded in August. , -- The majority of our TVL is derived from our v2 yVaultproduct line. In late May and - throughout June we transitioned a significant portion of our v1 vaults to v2 vaults. We no - longer support v1 vaults and encourage all depositors to migrate to v2 vaults. -- Iron Bank is Yearn’sin-house lending platform that is in collaboration with C.R.E.A.M. - Finance. We continued to see growth in Iron Bank TVL from Q1 to Q2. -- It is worth noting that as of August 19th, 2021, **Yearn has over $4.6b in TVL without any - token subsidies** or other incentives typically offered by competing protocols in DeFi. -- _Note: The chart presented at left is as of August 19th, 2021._ -- Source: Github: [yearn/yearn-exporter](https://github.com/yearn/yearn-exporter) - -# We continue to make improvements to our financial dashboard displaying transactions, an Income Statement, and a Balance Sheet. - -![](page18.png) - -- Our financial dashboard is public to give community members more granular information - related to financial transactions affecting Yearn’soperations. You can view transactions - by month, token, category, and various other filters. -- Please note that this dashboard is displayed on a cash-basis of accounting, whereas the - financial statements presented in this report are on an accrual basis of accounting. - Specifically, the dashboard does not account for accounts receivable, accrued interest, - unrealized capital gains and losses, or other accrual based items. -- The financial dashboard has not been audited by a professional third-party accounting - firm and is intended for information purposes only. It is not to be used for financial, - investment, or advice of any kind. -- You can access the dashboard at https://www.yfistats.com/financials/financials.html - -# Sources - -- Revenue data was obtained from token transfers between several addresses controlled by the Yearn protocol. These Ethereum addresses are listed below. - - - Treasury vault: 0x93a62da5a14c80f265dabc077fcee437b1a0efde - - Multi-sig: 0xfeb4acf3df3cdea7399794d0869ef76a6efaff - - Governance staking: 0xba37b002abafdd8e89a1995da52740bbc013d - -- Expenses were obtained from the yChadaudit reports. These reports are available on Yearn’s GitHub, and are published monthly. - - - https://github.com/iearn-finance/ychad-audit/tree/master/reports/financial - -- Token prices were obtained from Coingecko, a historical price provider of all major cryptocurrencies, or by running an archive Ethereum node and querying prices directly from the blockchain. - -- Please contact the team either via Telegram or discord for any specific questions. - - t.me/yearnfinance - - https://discord.com/yearn diff --git a/Financials/_posts/Quarterly-Report/2021-Q2/image1.png b/Financials/_posts/Quarterly-Report/2021-Q2/image1.png deleted file mode 100644 index 703af49f3..000000000 Binary files a/Financials/_posts/Quarterly-Report/2021-Q2/image1.png and /dev/null differ diff --git a/Financials/_posts/Quarterly-Report/2021-Q2/image2.png b/Financials/_posts/Quarterly-Report/2021-Q2/image2.png deleted file mode 100644 index 87182845a..000000000 Binary files a/Financials/_posts/Quarterly-Report/2021-Q2/image2.png and /dev/null differ diff --git a/Financials/_posts/Quarterly-Report/2021-Q2/page10.png b/Financials/_posts/Quarterly-Report/2021-Q2/page10.png deleted file mode 100644 index fb1b04172..000000000 Binary files a/Financials/_posts/Quarterly-Report/2021-Q2/page10.png and /dev/null differ diff --git a/Financials/_posts/Quarterly-Report/2021-Q2/page11.png b/Financials/_posts/Quarterly-Report/2021-Q2/page11.png deleted file mode 100644 index 4ad37e4a0..000000000 Binary files a/Financials/_posts/Quarterly-Report/2021-Q2/page11.png and /dev/null differ diff --git a/Financials/_posts/Quarterly-Report/2021-Q2/page12.png b/Financials/_posts/Quarterly-Report/2021-Q2/page12.png deleted file mode 100644 index 27cf5bdea..000000000 Binary files a/Financials/_posts/Quarterly-Report/2021-Q2/page12.png and /dev/null differ diff --git a/Financials/_posts/Quarterly-Report/2021-Q2/page13.png b/Financials/_posts/Quarterly-Report/2021-Q2/page13.png deleted file mode 100644 index 625ac2552..000000000 Binary files a/Financials/_posts/Quarterly-Report/2021-Q2/page13.png and /dev/null differ diff --git a/Financials/_posts/Quarterly-Report/2021-Q2/page14.png b/Financials/_posts/Quarterly-Report/2021-Q2/page14.png deleted file mode 100644 index e2a0868f7..000000000 Binary files a/Financials/_posts/Quarterly-Report/2021-Q2/page14.png and /dev/null differ diff --git a/Financials/_posts/Quarterly-Report/2021-Q2/page16.png b/Financials/_posts/Quarterly-Report/2021-Q2/page16.png deleted file mode 100644 index 489563e7c..000000000 Binary files a/Financials/_posts/Quarterly-Report/2021-Q2/page16.png and /dev/null differ diff --git a/Financials/_posts/Quarterly-Report/2021-Q2/page17.png b/Financials/_posts/Quarterly-Report/2021-Q2/page17.png deleted file mode 100644 index 658666b08..000000000 Binary files a/Financials/_posts/Quarterly-Report/2021-Q2/page17.png and /dev/null differ diff --git a/Financials/_posts/Quarterly-Report/2021-Q2/page18.png b/Financials/_posts/Quarterly-Report/2021-Q2/page18.png deleted file mode 100644 index 35cb484f9..000000000 Binary files a/Financials/_posts/Quarterly-Report/2021-Q2/page18.png and /dev/null differ diff --git a/Financials/_posts/Quarterly-Report/2021-Q2/page5.png b/Financials/_posts/Quarterly-Report/2021-Q2/page5.png deleted file mode 100644 index c951a0f35..000000000 Binary files a/Financials/_posts/Quarterly-Report/2021-Q2/page5.png and /dev/null differ diff --git a/Financials/_posts/Quarterly-Report/2021-Q2/page6.png b/Financials/_posts/Quarterly-Report/2021-Q2/page6.png deleted file mode 100644 index 40c6a0366..000000000 Binary files a/Financials/_posts/Quarterly-Report/2021-Q2/page6.png and /dev/null differ diff --git a/Financials/_posts/Quarterly-Report/2021-Q2/page7.png b/Financials/_posts/Quarterly-Report/2021-Q2/page7.png deleted file mode 100644 index dc3d05b91..000000000 Binary files a/Financials/_posts/Quarterly-Report/2021-Q2/page7.png and /dev/null differ diff --git a/Financials/_posts/Quarterly-Report/2021-Q2/page8.png b/Financials/_posts/Quarterly-Report/2021-Q2/page8.png deleted file mode 100644 index 5cdeb328f..000000000 Binary files a/Financials/_posts/Quarterly-Report/2021-Q2/page8.png and /dev/null differ diff --git a/Financials/_posts/Quarterly-Report/2021-Q2/page9.png b/Financials/_posts/Quarterly-Report/2021-Q2/page9.png deleted file mode 100644 index 6d91795fc..000000000 Binary files a/Financials/_posts/Quarterly-Report/2021-Q2/page9.png and /dev/null differ diff --git a/Gemfile b/Gemfile deleted file mode 100644 index f09837afb..000000000 --- a/Gemfile +++ /dev/null @@ -1,26 +0,0 @@ -# frozen_string_literal: true - -source "https://rubygems.org" - - -# Hello! This is where you manage which Jekyll version is used to run. -# When you want to use a different version, change it below, save the -# file and run `bundle install`. Run Jekyll with `bundle exec`, like so: -# -# bundle exec jekyll serve -# - -# If you have any plugins, put them here! -gem 'wdm', '>= 0.1.0' if Gem.win_platform? -group :jekyll_plugins do - gem 'jekyll-feed' - gem 'jekyll-sitemap' - gem 'jekyll-paginate' - gem 'jekyll-seo-tag' - gem 'jekyll-archives' - gem 'tzinfo-data' - gem 'tzinfo' - gem 'jekyll-postfiles' - gem 'webrick' - gem 'jekyll-target-blank' -end diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-41/2021-07-20-Yearn-Finance-Newsletter-41.md b/Newsletters/_posts/Yearn-Finance-Newsletter-41/2021-07-20-Yearn-Finance-Newsletter-41.md deleted file mode 100644 index 56296b175..000000000 --- a/Newsletters/_posts/Yearn-Finance-Newsletter-41/2021-07-20-Yearn-Finance-Newsletter-41.md +++ /dev/null @@ -1,84 +0,0 @@ ---- -layout: post -title: "Yearn Finance Newsletter #41" -categories: [ Newsletters ] -image: ./Yearn-Finance-Newsletter-41/image1.png -author: Yearn -translator: -publish: true ---- - -![alt_text](image1.png) - -# Yearn Finance Newsletter #41 - -Welcome to the 41st edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If you’re interested in learning more about Yearn Finance, follow our official [Twitter](https://twitter.com/iearnfinance) and [Medium](https://medium.com/iearn) accounts. - -## Summary - -- Celebrating YFI’s First Year -- Yearn’s Market Share In The Aggregator Market Rises -- Yearn To Be Added To Compound -- YFI Borrowing Rate Lowered At MakerDAO -- Vaults at Yearn -- Ecosystem News - -## Celebrating YFI’s First Year - -![alt_text](image5.png) - -One year ago on July 17, 2020, the YFI token was launched. Thank you all for creating an unforgettable moment in DeFi and what is now one of the strongest DeFi ecosystems. - -Thanks to [loldefi](https://twitter.com/loldefi), apparel celebrating YFI’s first anniversary can be found [here](https://ymerch.finance/). - -## Yearn’s Market Share In Aggregator Market Rises - -![alt_text](image4.png) - -In Q2 2021, Yearn’s market share in the yield aggregator market rose from 29% to 69%. We saw an impressive 136% growth in our AUM, as it reached over five billion dollars. We are working constantly to find you the best risk-adjusted returns in the market. Deposit capital to our yVaults and let the Strategists do all the hard work for you. - -View more details about Yearn and general DeFi analytics in this Messari [report](https://messari.io/article/q2-21-defi-review?utm_source=ryanwatkins_&utm_medium=tweet&utm_campaign=q2-21-defi-review). - -## Yearn To Be Added To Compound - -![alt_text](image3.png) - -A proposal has been created and contracts have been deployed to add YFI as a market to Compound Finance. Each token will have a zero collateral factor (initially), the same interest rate model (as COMP/LINK), and a reserve factor of 25% for each market (which is standard). - -In the near future, collateral factors will be increased and users will be able to supply YFI on Compound and borrow coins with that collateral. - -View more details about the post on Compound’s forum [here](https://www.comp.xyz/t/add-markets-mkr-aave-sushi-yfi/1977). - -## YFI Borrowing Rate Lowered At MakerDAO - -![alt_text](image2.png) - -MakerDAO has lowered the YFI-A stability fee to 1% and the ETH-C stability fee to 0.50%. These are incredibly beneficial for Yearn’s YFI and ETH strategies as they lower the cost of borrowing. The reduced cost of capital generates more net yield for users, improving returns. - -More about the changes can be read [here](https://forum.makerdao.com/t/maker-relay-ep-53/9305) and the vaults can be found [here](https://yearn.finance/vaults). - -## Vaults At Yearn - -You can read a detailed description of the strategies for all of our active yVaults [here](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3). - -## Ecosystem News - -[Element Finance launches their third asset, crvSTETH, which relies on Yearn for fixed yield](https://twitter.com/element_fi/status/1414990472569831427) - -[With Yearn, Keep3r, and Flashbots, a Keep3r stealth transaction has occurred to minimize MEV](https://twitter.com/lbertenasco/status/1415016369771491330) - -[Powerpool’s YLA, a basket of Yearn vaults has automatically rebalanced](https://twitter.com/powerpoolcvp/status/1414682829359812615) - -[Yearn and Project Galaxy’s Woofy NFTs enter top 50 trading volume on OpenSea](https://twitter.com/ProjectGalaxyHQ/status/1414868634862710789) - -[MahaDAO implements Yearn’s Coordinape framework for their DAO operations](https://twitter.com/TheMahaDAO/status/1414620121528680451) - -[Easily import Yearn’s price magic tool into any python script with BobTheBuidler’s ypricemagic](https://github.com/BobTheBuidler/ypricemagic) - -[Alchemix relaunches their alETH token, powered by Yearn WETH vaults](https://twitter.com/AlchemixFi/status/1414647769470443521) - -[Ribbon FInance creates a put option selling vault with yvUSDC as collateral](https://twitter.com/ribbonfinance/status/1415298793419968513) - -[Yearn Risk Dashboard allows you to drill down and see where each strategy has the funds deployed](https://yearn-finance.vercel.app/system/vault/0x19D3364A399d251E894aC732651be8B0E4e85001) - -[Join the Fair Launch Summit with Yearn, Sushiswap, Alchemist, and more](https://twitter.com/_alchemistcoin/status/1415646390978453508) diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-41/image1.png b/Newsletters/_posts/Yearn-Finance-Newsletter-41/image1.png deleted file mode 100644 index 87182845a..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-41/image1.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-41/image2.png b/Newsletters/_posts/Yearn-Finance-Newsletter-41/image2.png deleted file mode 100644 index 38c777a1e..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-41/image2.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-41/image3.png b/Newsletters/_posts/Yearn-Finance-Newsletter-41/image3.png deleted file mode 100644 index b8867f215..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-41/image3.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-41/image4.png b/Newsletters/_posts/Yearn-Finance-Newsletter-41/image4.png deleted file mode 100644 index 1a21ac834..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-41/image4.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-41/image5.png b/Newsletters/_posts/Yearn-Finance-Newsletter-41/image5.png deleted file mode 100644 index 1209bd3ab..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-41/image5.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-42/2021-08-03-Yearn-Finance-Newsletter-42.md b/Newsletters/_posts/Yearn-Finance-Newsletter-42/2021-08-03-Yearn-Finance-Newsletter-42.md deleted file mode 100644 index 022d5cd81..000000000 --- a/Newsletters/_posts/Yearn-Finance-Newsletter-42/2021-08-03-Yearn-Finance-Newsletter-42.md +++ /dev/null @@ -1,115 +0,0 @@ ---- -layout: post -title: "Yearn Finance Newsletter #42" -categories: [ Newsletters ] -image: ./Yearn-Finance-Newsletter-42/image1.png -author: Yearn -translator: -publish: true ---- - -# Yearn Finance Newsletter #42 - -![](image1.png) - -Welcome to the 42nd edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If youΓÇÖre interested in learning more about Yearn Finance, follow our official [Twitter](https://twitter.com/iearnfinance) and [Medium](https://medium.com/iearn) accounts. - -## **Summary** - -- The Yearn Blue Pill -- Woofy Week 11 Snapshot -- Migrate Or Die -- New Curve Gauge Voting Strategy -- Check Out The Pickle Jars -- What It Takes To Be A Strategist -- Audits Published For Yearn V2 -- Vaults at Yearn -- Ecosystem News - -## **The Blue Pill NFTs** - -![](image2.png) - -To celebrate the first year of Yearn, we have collaborated once again with Project Galaxy to bring you The Blue Pill, a spiritual guide for the past, present and future of Yearn. Made by Zemm, The Blue Pill is a beautifully-typeset book available to our 13,500 most loyal supporters. This is a series of seven unique NFTs for the various farmers, stakers, voters, and givers of the Yearn community. Join us in celebrating the gift of YFI! - -Read more about the NFT drop on the Yearn blog [here](https://medium.com/iearn/the-blue-pill-ca44ed01f16f). - -Claim your books [here](https://galaxy.eco/yearn) and check out the full book [here](https://thebluepill.eth.link/). - -## **Woofy Week 11 Snapshot** - -![](image3.png) - -New WOOFY holders can expect an NFT gift via a collaboration between Yearn and Project Galaxy. These are from a series of six unique WOOFY NFTs as shown above. These snapshots cover token holders, LPs, stakers, and vault users across multiple chains. - -Claim your Woofy NFTs [here](https://galaxy.eco/yearn). - -## **Migrate Or Die** - -![](image4.png) - -The v1 vaults have served everyone as a reliable source of yield for almost a year, but now the time has come to say goodbye. All old vaults have been harvested one last time and strategies have been unwinded. As a reminder, our v2 vaults entail several changes such as deploying capital across several strategies for more efficiency and better risk-adjusted yield. - -You can migrate to v2 at any time without fees. - -Check out the vaults here at [yearn.finance/vaults](https://yearn.finance/vaults). - -## **New Curve Gauge Voting Strategy** - -Thanks to the great work of the Strategists at Yearn, we have discovered the most optimal Curve Finance gauge voting strategy to generate our users the most yield. This newer strategy has enabled us to get up to 20% higher yields on our current positions utilizing veCRV. - -As always, we are striving to bring you all the best risk-adjusted yields in DeFi, with Strategists constantly pushing code to make the Yearn experience better. Deposit capital into the yVaults and let our Strategists do the hard work. - -Check out the vaults [here](https://yearn.finance/vaults). - -## **Check Out The Pickle Jars** - -![](image5.png) - -At Pickle Finance, you can find impressive rates from 7% to 40% on your favorite yVault tokens. You can earn on Yearn FRAX, Yearn LUSD, yUSDC, and many more! - -Pickle is one of our amazing partners who take part in our revenue sharing program in which your project can earn up to 50% of the fees Yearn generates. - -Check out the various farms [here](https://app.pickle.finance/farms). - -View more details about partnerships [here](https://twitter.com/iearnfinance/status/1367508483952771075) and apply [here](https://yearnfinance.typeform.com/to/uP7xOJUN). - -## **What It Takes To Be A Strategist** - -![](image6.png) - -Over $5M has been paid to Yearn strategists in 2021. At EthCC, Facu Ameal broke down what it takes to become a mighty strategist like him. Strategies, as you may know, are the backbone to Yearn and allow you to earn the best risk-adjusted yield on your tokens. - -To summarize, Facu goes over the information about vaults and strategies, the interactions between them, and finally, the tools and procedures used to write and release strategies to the general public. - -Check the [video](https://www.youtube.com/watch?v=NVR3teJw0Y0), which includes an invite to YFI Boarding School - -## **Audits Published For Yearn V2** - -![](image7.png) - -Yearn has connected with Trail of Bits on an audit of the v2 Vault, BaseStrategy and BaseWrapper contracts. The findings of the audit were addressed in the 0.4.x series of the contracts released in May. - -View the report [here](https://github.com/trailofbits/publications/blob/master/reviews/YearnV2Vaults.pdf). - -## **Vaults At Yearn** - -You can read a detailed description of the strategies for all of our active yVaults [here](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3). - -## **Ecosystem News** - -[Element Finance launches their fourth asset, DAI, which relies on Yearn for fixed yield](https://twitter.com/element_fi/status/1417880198033387526) - -[Facu Ameal details how to become a strategist at Yearn](https://youtu.be/NVR3teJw0Y0) - -[BasketDAO launches a new BMI Index composed of interest-bearing USD stablecoins from Yearn vaults](https://twitter.com/BasketDAOOrg/status/1415505266221535237) - -[Fixed Forex by Andre Cronje leverages Iron Bank, Yearn, Sushi, and Curve to create forex liquidity and fiat ramps](https://andrecronje.medium.com/fair-launches-decentralized-collaboration-and-fixed-forex-ab327a2e4fc4) - -[Updates to the yearn.fi website and the new features being added to it](https://twitter.com/dudesahn/status/1417898521685078016) - -[Watch a replay of the Fair Launch Summit, an event which featured multiple members of Yearn](https://youtu.be/1KqxvJnNRWg) - -[BadgerDAO continues to work on strategies leveraging Yearn](https://twitter.com/BadgerDAO/status/1420468295388520449) - -[Join Argent's Layer 2 waitlist for prizes including $50,000 of yvDAI](https://twitter.com/argentHQ/status/1422262937423597571) diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-42/image1.png b/Newsletters/_posts/Yearn-Finance-Newsletter-42/image1.png deleted file mode 100644 index 3e82caa7c..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-42/image1.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-42/image2.png b/Newsletters/_posts/Yearn-Finance-Newsletter-42/image2.png deleted file mode 100644 index 90406f105..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-42/image2.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-42/image3.png b/Newsletters/_posts/Yearn-Finance-Newsletter-42/image3.png deleted file mode 100644 index 7f32be794..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-42/image3.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-42/image4.png b/Newsletters/_posts/Yearn-Finance-Newsletter-42/image4.png deleted file mode 100644 index 410d1d745..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-42/image4.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-42/image5.png b/Newsletters/_posts/Yearn-Finance-Newsletter-42/image5.png deleted file mode 100644 index ba652f08d..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-42/image5.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-42/image6.png b/Newsletters/_posts/Yearn-Finance-Newsletter-42/image6.png deleted file mode 100644 index bac929f85..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-42/image6.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-42/image7.png b/Newsletters/_posts/Yearn-Finance-Newsletter-42/image7.png deleted file mode 100644 index 548648ef9..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-42/image7.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-43/2021-08-11-Yearn-Finance-Newsletter-43.md b/Newsletters/_posts/Yearn-Finance-Newsletter-43/2021-08-11-Yearn-Finance-Newsletter-43.md deleted file mode 100644 index 7c960dd8b..000000000 --- a/Newsletters/_posts/Yearn-Finance-Newsletter-43/2021-08-11-Yearn-Finance-Newsletter-43.md +++ /dev/null @@ -1,84 +0,0 @@ ---- -layout: post -title: "Yearn Finance Newsletter #43" -categories: [ Newsletters ] -image: ./Yearn-Finance-Newsletter-43/image1.jpg -author: Yearn -translator: -publish: true ---- - -# Yearn Finance Newsletter #43 - -![](image1.jpg) - -Welcome to the 43rd edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If you're interested in learning more about Yearn Finance, follow our official [Twitter](https://twitter.com/iearnfinance) and [Medium](https://medium.com/iearn) accounts. - -## **Summary** - -- YIP-63: Fund Builder-First Legal Activism DAO -- Alchemix Migrates to Yearn v2 -- YFI Added To Compound Finance -- Swap Between Yearn Vaults In One Transaction -- Vaults at Yearn -- Ecosystem News - -## **YIP-63: Fund Builder-First Legal Activism DAO** - -![](image2.jpg) - -Amidst intensifying regulatory scrutiny of DeFi, it has been proposed that the LeXpunK_DAO should be dedicated to legal advocacy for yearn and other builder-centric DeFi communities. The LeXpunK_DAO will be governed by builders from contributing communities (including yearn) and practicing lawyers from the LeXpunK Army 146. - -5% of the current supply of L3X, the non-transferable governance token of the LeXpunK Army, will be airdropped to YFI holders who support this proposal, in order to enable direct sentiment polling on relevant legal issues from the Yearn community. LeXpunK will effect additional airdrops from time to time, proportionally in line with the relative contributions of other builder communities, with the goal of forming a broad coalition to pool resources for funding shared advocacy goals. - -Comments from U.S. representatives such as Gary Gensler, chairman of SEC, have been incredibly worrying for the future of DeFi, and LeXpunK_DAO aims to alleviate the concerns that regulators may have via campaigns, raids, and other methods clearly laid out in the proposal. - -Read the full proposal on Yearn's forum [here](https://gov.yearn.finance/t/yip-63-fund-builder-first-legal-activism-dao/11280). - -The YIP was approved. You can see results [here](https://gov.yearn.finance/t/proposal-fund-builder-first-legal-activism-dao/11280). - -## **Alchemix Migrates to Yearn v2** - -![](image3.jpg) - -Alchemix has successfully migrated to the latest yvDAI. The small spike on the graph is $400m moving from the v1 vaults to the v2 vaults. We are proud to be the top yield backend for DeFi. - -Yearn has experienced exponential growth in the past few months, and some of this can be attributed to our partners such as Alchemix using Yearn as vault infrastructure. We expect this growth to continue, as our vaults provide some of the best risk-adjusted returns in DeFi, while also being the most simple. Let Yearn do the hard work for you and continuously compound your funds. - -Check out the vaults [here](https://yearn.finance/vaults). - -## **YFI Added To Compound Finance** - -![](image4.jpg) - -YFI has been successfully added to Compound Finance as a market. Currently, it has a zero collateral factor (initially), the same interest rate model (as COMP/LINK), and a reserve factor of 25% for each market (which is standard). In the near future, collateral factors will be increased and users will be able to supply YFI on Compound and borrow coins with YFI collateral. This will enable Yearn strategists to possibly create a YFI farming strategy similar to a current strategy implemented for the YFI vault that utilizes MakerDAO. Thus, users may receive more net yield thanks to this integration, which will generally improve returns. Read more about the MakerDAO strategy [here](https://yearn.fi/invest/0xE14d13d8B3b85aF791b2AADD661cDBd5E6097Db1). - -Lend and borrow YFI [here](https://app.compound.finance/). - -## **Swap Between Yearn Vaults In One Transaction** - -Thanks to some amazing work by pandabuild, TBouder, and Ivan, Bowswap leverages Curve metapools and in-built slippage protection to allow you to swap your vault tokens to ones with higher yield without having to withdraw. - -Use this new swap feature [here](https://bowswap.finance/). - -## **Vaults At Yearn** - -You can read a detailed description of the strategies for all of our active yVaults [here](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3). - -## **Ecosystem News** - -[Element Finance releases fixed yield on USDC, relying on Yearn for its backend](https://twitter.com/element_fi/status/1422934199284215810?s=20) - -[Check out Banteg on the cover of Fortune Magazine](https://twitter.com/FortuneMagazine/status/1420803860336152577) - -[View the rarity table for The Blue Pill NFTs](https://github.com/banteg/blue-pill#rarity-table) - -[Flipside Crypto launches bounties for Yearn](https://twitter.com/BmurrayFlipside/status/1421147576674422788) - -[Cozy Finance adjusts Yearn USDC coverage market](https://twitter.com/cozyfinance/status/1422226784674664453) - -[Yearn crvTBTC market has gone live on Cozy](https://twitter.com/cozyfinance/status/1422633897490223107) - -[Anna Rose and Tarun Chitra from the Zero Knowledge Podcast chat with Facu Ameal and tracheopteryx about Yearn](https://www.zeroknowledge.fm/192) - -[Check out the new Keep3r twitter](https://twitter.com/thekeep3r) diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-43/image3.jpg b/Newsletters/_posts/Yearn-Finance-Newsletter-43/image3.jpg deleted file mode 100644 index 69de6be94..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-43/image3.jpg and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-43/image4.jpg b/Newsletters/_posts/Yearn-Finance-Newsletter-43/image4.jpg deleted file mode 100644 index bcdbc0336..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-43/image4.jpg and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-44/2021-09-02-Yearn-Finance-Newsletter-44.md b/Newsletters/_posts/Yearn-Finance-Newsletter-44/2021-09-02-Yearn-Finance-Newsletter-44.md deleted file mode 100644 index 48eb49167..000000000 --- a/Newsletters/_posts/Yearn-Finance-Newsletter-44/2021-09-02-Yearn-Finance-Newsletter-44.md +++ /dev/null @@ -1,105 +0,0 @@ ---- -layout: post -title: "Yearn Finance Newsletter #44" -categories: [ Newsletters ] -image: ./Yearn-Finance-Newsletter-44/image1.jfif -author: Yearn -translator: -publish: true ---- - -# Yearn Finance Newsletter #44 - -![](image1.jfif) - -Welcome to the 44th edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If you’re interested in learning more about Yearn Finance, follow our official [Twitter](https://twitter.com/iearnfinance) and [Medium](https://medium.com/iearn) accounts. - -## **Summary** - -- YIP-63 Approved -- Product User Survey -- Introducing Four New yVaults -- Yearn Integrated In Defi Saver -- Don’t Forget About Woofy -- Vaults at Yearn -- Ecosystem News - -## **YIP-63 Results** - -![](image2.jfif) - -The recent vote for YIP-63 has resulted in agreement for the funding of the LeXpunK DAO Yearn has transferred one million DAI to a multisig controlled by Curve Finance, Lido Finance, and LeXpunK DAO. - -For context, the LeXpunK DAO is a coalition of DeFi builders and lawyers with the goal of creating a legal defense team far greater and more ethically aligned than those at Silicon Valley venture funds. This is an important initiative that will serve to fight for crypto over the next few years or even decades. - -Read the full proposal on Yearn’s forum [here](https://gov.yearn.finance/t/yip-63-fund-builder-first-legal-activism-dao/11280). - -Check Yearn’s transaction to the DAO [here](https://etherscan.io/tx/0x0ec0fc55d6dc51b426a254bf2d6de138b1b9a1c3031f4ab3a7b39439fa004392) - -## **Product User Survey** - -We have released a new user survey to gauge what you, the community at Yearn, would like to see added. - -Yearn is always iterating amongst ourselves and with the help of the community, but with this survey, we’d like to take a more hands on approach to seeing what you guys, the community, has in mind to improve Yearn. We have seen exponential growth in the short time we’ve been active, and we hope to continue innovating in the products we put out and add more utility to the YFI token. We think that we can improve the user experience at Yearn tenfold with the help of your thoughts, and thus become the most competitive in the yield aggregation space among the various other sectors we engage in. - -Fill out the survey [here](https://yearnfinance.typeform.com/to/ojp3J8gn). - -## **Introducing Four New yVaults** - -![](image3.jfif) - -Four new yVaults are now live on our UI. Deposit today and earn yield on your AAVE, COMP, TUSD, and SUSHI - -The AAVE, COMP, and SUSHI vaults are earning yield from single-sided staking pools on [universe.xyz](https://universe.xyz/polymorphs), with no exposure to impermanent loss. TUSD is earning yield from Kashi on SushiSwap. - -You can view the latest APYs for these vaults and deposit to these vaults using this [link](https://yearn.finance/vaults). - -## **Yearn Integrated In Defi Saver** - -![](image4.jfif) - -YFI has been integrated into the Defi Saver Recipe Creator. With this integration, you can deposit any supported assets into Yearn vaults using DeFi Saver, as well as combine this action with any other protocol interactions. Some examples are detailed below. - -First, you can create a MakerDAO Vault and deposit the borrowed DAI into Yearn, all in one single transaction. The Stability fee for ETH-A in Maker is 2% and the current NET APY for the DAI Yearn Vault is ~6.5%. The recipe can be found [here](https://app.defisaver.com/recipes/create?recipe=V3JhcEV0aEFjdGlvbiwyMDtSZWZsZXhlck9wZW5TYWZlQWN0aW9uLEVUSC1BO1JlZmxleGVyU3VwcGx5QWN0aW9uLCQyLHJlY2lwZSxBbGwgYXZhaWxhYmxlO1JlZmxleGVyR2VuZXJhdGVBY3Rpb24sJDIsNjY2NixyZWNpcGU7U2VsbEFjdGlvbiwweDAzYWI0NTg2MzQ5MTBhYWQyMGVmNWYxYzhlZTk2ZjFkNmFjNTQ5MTkscmVjaXBlLDY2NjYsMHhBMGI4Njk5MWM2MjE4YjM2YzFkMTlENGEyZTlFYjBjRTM2MDZlQjQ4LHJlY2lwZSwxO1llYXJuU3VwcGx5QWN0aW9uLDB4QTBiODY5OTFjNjIxOGIzNmMxZDE5RDRhMmU5RWIwY0UzNjA2ZUI0OCxyZWNpcGUsQWxsIGF2YWlsYWJsZSx3YWxsZXQ%3D). - -Alternatively, you can open a Reflexer ETH Safe and borrow RAI. The Stability fee in Reflexer is -0.5% and you can swap the RAI for a higher yielding asset, USDC or DAI, and deposit into Yearn. Recipe can be found [here](https://app.defisaver.com/recipes/create?recipe=V3JhcEV0aEFjdGlvbiwyMDtSZWZsZXhlck9wZW5TYWZlQWN0aW9uLEVUSC1BO1JlZmxleGVyU3VwcGx5QWN0aW9uLCQyLHJlY2lwZSxBbGwgYXZhaWxhYmxlO1JlZmxleGVyR2VuZXJhdGVBY3Rpb24sJDIsNjY2NixyZWNpcGU7U2VsbEFjdGlvbiwweDAzYWI0NTg2MzQ5MTBhYWQyMGVmNWYxYzhlZTk2ZjFkNmFjNTQ5MTkscmVjaXBlLDY2NjYsMHhBMGI4Njk5MWM2MjE4YjM2YzFkMTlENGEyZTlFYjBjRTM2MDZlQjQ4LHJlY2lwZSwxO1llYXJuU3VwcGx5QWN0aW9uLDB4QTBiODY5OTFjNjIxOGIzNmMxZDE5RDRhMmU5RWIwY0UzNjA2ZUI0OCxyZWNpcGUsQWxsIGF2YWlsYWJsZSx3YWxsZXQ%3D). - -Check out other recipes using Yearn [here](https://app.defisaver.com/). - -## **Don’t Forget About Woofy** - -![](image5.jfif) - -By converting YFI to WOOFY at a rate of one YFI for one million WOOFY, you can lp with it, bridge to other chains such as Polygon or Fantom, and deposit on [ape.tax](https://ape.tax/) for incredible yields. - -Exchange your YFI for WOOFY [here](https://woofy.finance/). - -## **Vaults At Yearn** - -You can read a detailed description of the strategies for all of our active yVaults [here](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3). - -## **Ecosystem News** - -[Longlong finance built on top of Yearn](https://twitter.com/longlongfinance/status/1424889905877069826) - -[Yearn’s Gnosis safe UI gets an upgrade](https://twitter.com/seanmacaonghais/status/1427229450773618695?s=21) - -[Introducing Mean Finance, a DCA protocol built with Keep3r](https://twitter.com/mean_fi/status/1422947694444785666?s=21) - -[Guide on using your Woofy ](https://twitter.com/cryptannews/status/1426489521911177217?s=21) - -[An issue has been identified and resolved in Curve Bribe v1 by the Yearn security team](https://twitter.com/bantg/status/1426629982328180737?s=21) - -[Thread on how Spell, Curve, and Yearn can collaborate](https://twitter.com/danielesesta/status/1426547097415913476?s=21) - -[Yapeswap uses Yearn to deposit idle assets when its reserves are not being utilized](https://twitter.com/yapeswap/status/1427270229839605761) - -[Iron Bank, yvBOOST, TriCrypto, and the upgraded DAI vault have been added to Akropolis](https://twitter.com/akropolisio/status/1427258414229442563) - -[Details on Keep3rV2 upgrade](https://twitter.com/AndreCronjeTech/status/1429021091218006023) - -[Check out the story of ape.tax, as told by Facu Ameal](https://twitter.com/fameal/status/1428382076064174080?s=20) - -[How to use Yearn V2 with Argent](https://twitter.com/argentHQ/status/1431205382865760257) - -[Yearn has issued a grant to Atlantis World to build a 2D pixel metaverse](https://twitter.com/iearnfinance/status/1432387438014435332) diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-44/image2.jfif b/Newsletters/_posts/Yearn-Finance-Newsletter-44/image2.jfif deleted file mode 100644 index 33f75bf4c..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-44/image2.jfif and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-44/image3.jfif b/Newsletters/_posts/Yearn-Finance-Newsletter-44/image3.jfif deleted file mode 100644 index b5eb096e2..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-44/image3.jfif and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-44/image4.jfif b/Newsletters/_posts/Yearn-Finance-Newsletter-44/image4.jfif deleted file mode 100644 index 616844c44..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-44/image4.jfif and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-44/image5.jfif b/Newsletters/_posts/Yearn-Finance-Newsletter-44/image5.jfif deleted file mode 100644 index 801eb387d..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-44/image5.jfif and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-45/2021-09-07-Yearn-Finance-Newsletter-45.md b/Newsletters/_posts/Yearn-Finance-Newsletter-45/2021-09-07-Yearn-Finance-Newsletter-45.md deleted file mode 100644 index 90dcf8873..000000000 --- a/Newsletters/_posts/Yearn-Finance-Newsletter-45/2021-09-07-Yearn-Finance-Newsletter-45.md +++ /dev/null @@ -1,76 +0,0 @@ ---- -layout: post -title: "Yearn Finance Newsletter #45" -categories: [ Newsletters ] -image: ./Yearn-Finance-Newsletter-45/image1.jfif -author: Yearn -translator: -publish: true ---- - -# Yearn Finance Newsletter #45 - -![](/image1.jfif) - -Welcome to the 45th edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If you're interested in learning more about Yearn Finance, follow our official [Twitter](https://twitter.com/iearnfinance) and [Medium](https://medium.com/iearn) accounts. - -## **Summary** - -- ALPHA and YFI Liquidity Providers Eligible For A Special NFT -- Reminder To Migrate To V2 -- How To Swap Into Yearn Vaults -- Cumulative Protocol Revenue Reaches $39M -- Vaults at Yearn -- Ecosystem News - -## **ALPHA and YFI Liquidity Providers Eligible For A Special NFT** - -![](./image2.jfif) - -Liquidity providers for the Uniswap ETH/YFI and Sushiswap ETH/YFI pools in Alpha Homora V2 pools will be eligible for a special NFT drop courtesy of Yearn, Alpha, and Project Galaxy. - -This drop will last 3 full days, from 9/3-9/9. Users that open/have existing positions in eligible pools will be able to claim their NFT on Project Galaxy's website [here](https://galaxy.eco/AlphaFinanceLab/campaign/117). - -Note that users will only be able to claim their NFT during the window and must claim with the wallet address that has the positions currently open - -View more details [here](https://twitter.com/AlphaFinanceLab/status/1433689307152195591). - -## **Reminder To Migrate To V2** - -As v2 has been live for months, the v1 vaults have been deprecated and strategies have been shut down, with users still in the vaults earning no yield. These vaults have served the DeFi community over a year as a reliable source of yield, and now, it's time for an upgrade. As a reminder, our v2 vaults entail several changes such as deploying capital across several strategies for more efficiency and better risk-adjusted yield. You can migrate to v2 at any time without fees. - -Check out the vaults here at [yearn.finance/vaults](https://yearn.finance/vaults). - -## **How To Swap Into Yearn Vaults** - -![](image3.jfif) - -One of the best ways to do Yearn Vaults swaps funds from one vault to another is typically using [curve.fi](https://curve.fi/) or with zaps built into Yearn's UI. This is gas efficient, but may cost extra in slippage or additional fees. - -Another way of migrating funds from Compound and AAVE to Yearn is with the use of [bowswap.finance](https://bowswap.finance/). It lets you withdraw from the protocol and deposit into a Yearn vault, with it additionally showing both protocol's APYs for comparison and allowing you to select multiple tokens at a time. No extra fees! - -Thanks to [cryptouf](https://twitter.com/cryptouf) for curating this short guide. - -## **Cumulative Protocol Revenue Reaches $39M** - -![](image4.png) - -Yearn has earned over $39 million in revenue, since launch (excluding the interest earned by depositors). In the past 30 days, over $5 million dollars in revenue has been generated by the protocol. An extrapolation of this data projects annual revenue to be nearly $30 million. - -Yearn's cumulative revenue and other statistics are viewable [here](https://www.yfistats.com/). - -## **Vaults At Yearn** - -You can read a detailed description of the strategies for all of our active yVaults [here](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3). - -## **Ecosystem News** - -[Keep3r Network v3 liquidity incentives](https://twitter.com/AndreCronjeTech/status/1434125562281332737) - -[ySNX vault users qualify for an airdrop from Thales Markets](https://twitter.com/thalesmarket/status/1434889906657144834) - -[yvcrvSTETH added to abracadabra.money as a lending market](https://twitter.com/MIM_Spell/status/1430975000350281732?s=20) - -[The Defiant breaks down the Yearn ecosystem](https://thedefiant.io/yearn-finance-ecosystem-breakdown-pushing-the-boundaries-of-human-coordination/) - -[Yearn crvTricrypto coverage market live on cozy.finance](https://twitter.com/cozyfinance/status/1433602125792038913) diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-45/image2.jfif b/Newsletters/_posts/Yearn-Finance-Newsletter-45/image2.jfif deleted file mode 100644 index 6779c38b8..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-45/image2.jfif and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-45/image3.jfif b/Newsletters/_posts/Yearn-Finance-Newsletter-45/image3.jfif deleted file mode 100644 index 25e23b0b8..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-45/image3.jfif and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-45/image4.png b/Newsletters/_posts/Yearn-Finance-Newsletter-45/image4.png deleted file mode 100644 index 40e0b1fbf..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-45/image4.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-46/2021-09-12-Yearn-Finance-Newsletter-46.md b/Newsletters/_posts/Yearn-Finance-Newsletter-46/2021-09-12-Yearn-Finance-Newsletter-46.md deleted file mode 100644 index 4aa9aa625..000000000 --- a/Newsletters/_posts/Yearn-Finance-Newsletter-46/2021-09-12-Yearn-Finance-Newsletter-46.md +++ /dev/null @@ -1,94 +0,0 @@ ---- -layout: post -title: "Yearn Finance Newsletter #46" -categories: [ Newsletters ] -image: ./Yearn-Finance-Newsletter-46/image1.png -author: Yearn -translator: -publish: true ---- - -# Yearn Finance Newsletter #46 -#### Week Ending September 12th, 2021 - - -![](image1.png) - - - - -Welcome to the 46th edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If you're interested in learning more about Yearn Finance, follow our official [Twitter](https://twitter.com/iearnfinance) and [Medium](https://medium.com/iearn) accounts. - -## **Summary** - -- Behind the Scenes at Yearn -- Primer on the yvBOOSTVault -- Yearn Quarterly Financial Report -- Cumulative Protocol Revenue Reaches $41M -- Vaults at Yearn -- Ecosystem News - - -## **Behind the Scenes at Yearn** - -As you may know, Yearn is the yield function protocol for DeFi, with many strategists coding ways to get optimal returns for our users using flexible smart contracts that allocate efficiently to various protocols. Because Yearn needs to keep up with the competitive yield aggregation market, we need to deploy strategies quickly, and this means there are always security risks. - -There are 176 strategies for 64 vaults total as of today, and to work through security risks, we need to have a solid risk framework. To mitigate security risks, we have added options such as simulation bots to catch issues or on chain healthchecks. One can read more about Yearn's emergency procedures [here](https://github.com/yearn/yearn-devdocs/blob/master/docs/developers/v2/EMERGENCY.md). - -You can also view details about vaults and strategies on [yearn.watch](https://yearn.watch/). - -Check out more information on Yearn's security procedures at storming0x's tweet [here](https://twitter.com/storming0x/status/1436851219864059906). - -## **Primer on the yvBOOST Vault** - -![](image2.png) - -CRV is curve.fi's governance token, which can be locked for up to 4 years and gives you the ability to vote and claim protocol fees. By using Yearn to lock your CRV for veCRV (vote-escrowed CRV), you can earn more rewards via Yearn periodically donating some of our farmed CRV to the yveCRV vault. So, in addition to normal CRV rewards, you will be able to claim Yearn's portion of Curve's protocol fees. - -However, with veCRV deposited in Yearn (as yveCRV), you can't vote on Curve. Even with this minor setback, Yearn runs a simulation and votes to maximize yield across all vaults. - -One of our newer additions to Yearn is the yvBOOST vault, which is a compounding version of yveCRV. If you lock CRV here, it will claim the protocol rewards and automatically buy more yveCRV, thus compounding it. You can't vote with yvBOOST still, but the vault will automatically do it for you. Deposit and enjoy your rewards. - -If one needs stables from their deposits from the vaults, you can swap yveCRV and yvBOOST on SushiSwap. - -If you don't have any CRV, thanks to Yearn Zaps, you can deposit virtually any crypto in your wallet into these vaults. And Yearn's smart contracts will automatically convert your tokens to yvBOOST. - -As always, thank you to our Strategists for always building top tier yield infrastructure for DeFi. - -Check out the vaults here at [yearn.finance/vaults](https://yearn.finance/vaults). - -## **Yearn Quarterly Financial Report** - -![](image3.png) - -Several Yearn community members have created an informal quarterly financial report covering the period from April 2021 to June 2021. This report was generated using publicly available information, and includes an income statement and balance sheet. This report has not been audited by a third-party professional accounting firm, and does not represent financial, investment, or advice of any kind. It is for informational purposes only. - -You can view this report [here](https://github.com/yearn/yearn-pm/blob/master/financials/reports/2021Q2-yearn-quarterly-report.pdf). - -## **Cumulative Protocol Revenue Reaches $41M** - -![](image4.png) - -Yearn has earned nearly $41 million in revenue, since launch (excluding the interest earned by depositors). In the past 30 days, nearly $6 million dollars in revenue has been generated by the protocol. An extrapolation of this data projects annual revenue to be nearly $60 million. - -Yearn's cumulative revenue and other statistics are viewable [here](https://www.yfistats.com/). - -## **Vaults At Yearn** - -You can read a detailed description of the strategies for all of our active yVaults [here](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3). - -## **Ecosystem News** - -[Sign up to become an intern at the yAcademy DAO and audit live smart contracts](https://twitter.com/yAcademyDAO/status/1435866622556659717) - -[YFI/ETH SushiSwap liquidity tokens are available as collateral on OnX's Alpha Vaults](https://twitter.com/OnXFinance/status/1435229990681972741) - -[Yearn is supporting ETHGlobal and ETHOnline, with $4,000 in prizes available for hackers and the opportunity to collaborate with the Yearn team](https://twitter.com/iearnfinance/status/1436302183545196546) - -[rKP3R rewards added for Fixed Forex](https://twitter.com/thekeep3r/status/1437402914474037256) - -[Join tracheopteryx as he speaks at Messari 's #Mainnet2021 on Tuesday Sept 21 at 7:30pm UTC. This panel includes Ryan Watkins and Maki, and is called "Decentralized from Day One: Lessons in Organizational Design!"](https://twitter.com/tracheopteryx/status/1436257062971977729) - -[Thank you to abracadabra.money for bringing 173.4M dollars of TVL to Yearn](https://twitter.com/danielesesta/status/1437372628054982663?s=20) - -[How to farm with your WOOFY on ape.tax](https://twitter.com/ape_tax/status/1436908119817211913?s=20) diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-46/image1.png b/Newsletters/_posts/Yearn-Finance-Newsletter-46/image1.png deleted file mode 100644 index 0e7430fb3..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-46/image1.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-46/image2.png b/Newsletters/_posts/Yearn-Finance-Newsletter-46/image2.png deleted file mode 100644 index 6f237780d..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-46/image2.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-46/image3.png b/Newsletters/_posts/Yearn-Finance-Newsletter-46/image3.png deleted file mode 100644 index 602fbb1a8..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-46/image3.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-46/image4.png b/Newsletters/_posts/Yearn-Finance-Newsletter-46/image4.png deleted file mode 100644 index e9e1a8d7c..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-46/image4.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-47/2021-09-26-Yearn-Finance-Newsletter-47.md b/Newsletters/_posts/Yearn-Finance-Newsletter-47/2021-09-26-Yearn-Finance-Newsletter-47.md deleted file mode 100644 index a658b900b..000000000 --- a/Newsletters/_posts/Yearn-Finance-Newsletter-47/2021-09-26-Yearn-Finance-Newsletter-47.md +++ /dev/null @@ -1,100 +0,0 @@ ---- -layout: post -title: "Yearn Finance Newsletter #47" -categories: [ Newsletters ] -image: ./Yearn-Finance-Newsletter-47/image1.png -author: Yearn -translator: -publish: true ---- - -# Yearn Finance Newsletter #47 - -### Week Ending September 26th, 2021 - -![](image1.png) - -Welcome to the 47th edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If you’re interested in learning more about Yearn Finance, follow our official [Twitter](https://twitter.com/iearnfinance) and [Medium](https://medium.com/iearn) accounts. - -## Summary - -- Introducing V3 of Yearn’s UI - -- Check Out the New Labs Section - -- Yearn Has Purchased $320K of YFI in September - -- Cumulative Protocol Revenue Reaches $43M - -- Vaults at Yearn - -- Ecosystem News - - -## Introducing V3 of Yearn’s UI - -![](image2.png) - -This week, we have opened up the new Yearn v3 to users in beta. The new friendlier interface surfaces all the data you need for a birds-eye view of your holdings and historical plus yearly earnings. It also simulates transactions so you don't get unexpected slippage or failed transactions. - -Rebuilt from the ground up, v3 is the realization of a shared vision of a lightweight, scalable system ready for the multichain future. The core components of the Yearn V3 stack have been divided up into multiple distinct components: Lens, Meta, Subgraph, Exporter, SDK, and Front-end.  - -As for the UI, we have revamped the Yearn experience for mobile users and added new sections such as the Home, Wallet, Labs, Iron Bank, and Settings pages. Additionally, there will be multiple UI themes, with some being unlockable for specific NFT holders. See [galaxy.eco/yearn](https://galaxy.eco/yearn) for potential NFTs that qualify for future themes. - -Thank you to the Yearn community and all the contributors at Yearn who helped to make this happen. If you’d like to contribute, come join our public [discord](https://discord.gg/8rF374XkXy), create an issue in one of the [repos](https://github.com/yearn) linked in the [medium](https://medium.com/iearn/yearn-ui-v3-0-a194355bdb1f), or share your designs with us on [twitter](https://twitter.com/iearnfinance)! - -Read an in-depth rundown on the V3 UI [here](https://medium.com/iearn/yearn-ui-v3-0-a194355bdb1f). - -Check out [beta.yearn.finance](https://beta.yearn.finance/). - -## Check Out the New Labs Section - -![](image3.png) - -Introducing the Labs section on the new Yearn V3 UI, a set of experimental vaults that push the boundaries of yield in DeFi. Let’s take a look at these new vaults. - -The vaults that live in the LABS section are not the usual Yearn vaults. Yearn vaults were created with the idea of being long only and that users could withdraw at any time. You asked for different types of vaults and strategies on various platforms and our recent product survey. We listened! - -In labs, experimentation is the norm, not the exception. Read what each vault does, and read carefully. Strategies may allow lock-ups and the potential for temporary losses in pursuit of increased, long-term sustainable yield. - -You may already know yveCRV, yvBOOST, and our yvBOOST-ETH pJar (a collab with Pickle Finance), which are now live in Labs. We will shortly be adding more vaults to Labs, with detailed pages for each. - -So, check out Labs at [beta.yearn.finance/#labs](https://beta.yearn.finance/#/labs) and come back for more emerging strategies. Just remember, these vaults are usually riskier than others, as they can involve token locking, impermanent loss, and various other risks. - -## Yearn Has Purchased $320K of YFI in September - -![](image4.png) - -In accordance with YIP-56: Buyback and Build Yearn, which was passed in January 2021, the Yearn Treasury has purchased an additional $320K worth of YFI. - -Yearn Treasury will periodically purchase additional YFI in the future using profits earned by the protocol until a new governance proposal is passed that alters this buyback policy. You can read about the BABY proposal [here](https://snapshot.org/#/yearn/proposal/Qmb6gBzjvgLMazSrQQGVcjutLNdkVyM2Lh6yckMzdoaHWZ).  - -Data on the buybacks can be found [here](https://www.yfistats.com/financials/YFIBuybacks.html). - -## Cumulative Protocol Revenue Reaches $43M - -![](image5.png) - -Yearn has earned nearly $43 million in revenue, since launch (excluding the interest earned by depositors). In the past 30 days, nearly $6 million dollars in revenue has been generated by the protocol. An extrapolation of this data projects annual revenue to be nearly $70 million.  - -Yearn’s cumulative revenue and other statistics are viewable [here](https://www.yfistats.com/). - -## Vaults At Yearn - -You can read a detailed description of the strategies for all of our active yVaults [here](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3). - -## Ecosystem News - -[Check out Metaguild using the Coordinape framework](https://twitter.com/metaguildcom/status/1440368717888557068) - -[Tracheopteryx and 0xMaki speak about DAO design at the Messari Mainnet event](https://twitter.com/MessariCrypto/status/1440412651457110020) - -[Steakwallet supports Yearn vaults in-app](https://twitter.com/steakwallet/status/1440734147194994694) - -[Donut is building a retail-friendly savings app on top of Yearn](https://twitter.com/bantg/status/1438680337735987209) - -[Yearn bounties have launched on Flipside Crypto](https://twitter.com/flipsidecrypto/status/1438613782507446273) - -[Use yvFTM as collateral on abracadraba.money on Fantom](https://twitter.com/MIM_Spell/status/1441912161001820161?s=20) - -[Check out the Yearn Fundamentals Dashboard on Token Terminal](https://twitter.com/iearnfinance/status/1441179921523507200) diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-47/image1.png b/Newsletters/_posts/Yearn-Finance-Newsletter-47/image1.png deleted file mode 100644 index 0e7430fb3..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-47/image1.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-47/image2.png b/Newsletters/_posts/Yearn-Finance-Newsletter-47/image2.png deleted file mode 100644 index 18d576fc3..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-47/image2.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-47/image3.png b/Newsletters/_posts/Yearn-Finance-Newsletter-47/image3.png deleted file mode 100644 index f4b1e2f6d..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-47/image3.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-47/image4.png b/Newsletters/_posts/Yearn-Finance-Newsletter-47/image4.png deleted file mode 100644 index 7fa0d1d00..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-47/image4.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-47/image5.png b/Newsletters/_posts/Yearn-Finance-Newsletter-47/image5.png deleted file mode 100644 index f8140bf59..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-47/image5.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-48/2021-10-10-Yearn-Finance-Newsletter-48.md b/Newsletters/_posts/Yearn-Finance-Newsletter-48/2021-10-10-Yearn-Finance-Newsletter-48.md deleted file mode 100644 index 576f14841..000000000 --- a/Newsletters/_posts/Yearn-Finance-Newsletter-48/2021-10-10-Yearn-Finance-Newsletter-48.md +++ /dev/null @@ -1,145 +0,0 @@ ---- -layout: post -title: "Yearn Finance Newsletter #48" -categories: [ Newsletters ] -image: ./Yearn-Finance-Newsletter-48/image1.png -author: Yearn -translator: -publish: true ---- - -# Yearn Finance Newsletter #48 - -### Week Ending October 10th, 2021 - -![](image1.png) - -Welcome to the 48th edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If you’re interested in learning more about Yearn Finance, follow our official [Twitter](https://twitter.com/iearnfinance) and [Medium](https://medium.com/iearn) accounts. - -## Summary - -- Yearn Goes Multichain with Fantom - -- Yearn Reaches $5B TVL (Again) - -- How You Can Contribute to Yearn - -- Call for Ideas: YFI Tokenomics Revamp - -- Transparency at Yearn - -- Vaults at Yearn - -- Ecosystem News - -## Yearn Goes Multichain with Fantom - -![](image2.png) - -The Realm of Multichain beckons. And Yearn has heeded the call.  - -Today, we go multichain with the launch of Iron Bank Fantom and the first Fantom vaults on - -https://beta.yearn.finance - -You may ask, “Why multichain now?”. This is because Yearn requires specific infrastructure to safely and efficiently function, both external (Gnosis safe, DEX liquidity, block explorer) and internal (frontend and backend). - -Our v2 vault codebase has hardened over the past few months, and the new beta website is a vast improvement, allowing us to switch chains relatively easily, something we simply could not have done in the past. - -Fantom is fast, simple to use, and easy to bridge to thanks to Anyswap. Additionally, it is well-supported by our development tools and by our Iron Bank partners at CREAM Finance. Check out the article on the Fantom Iron Bank [here](https://medium.com/cream-finance/c-r-e-a-m-dd4982004bb9). - -And it doesn't hurt that Andre Cronje is a big fan. - -The first vaults on Fantom are: yvWFTM, yvUSDC, yvDAI, and yvMIM. We’ve launched support for a native Fantom Iron Bank as well. Head to [beta.yearn.finance](https://beta.yearn.finance) to check them out for yourself. - -So to answer your questions of when Arbitrum, Optimism, Polygon, Avalanche, and others are arriving, there will definitely be more multichain fun coming soon. Ultimately, we’d love to bring Yearn to any chain where we can safely operate and simplify the process of earning yield for users and partners. - -The Realm expands and we go with it. We want to meet people where they are, including new users and users with smaller deposits. Multichain expansion is a natural way to do this. - -Got questions or want to learn more? Join us on Telegram or [Discord](https://discord.com/invite/SNPvCpjRET). - -## Yearn Reaches $5B TVL (Again) - - ![](image3.png) - -Total value locked across all Yearn products has surpassed $5 billion once again, and $1 billion has been added in the last month alone. Yearn is continuing to see parabolic growth among its products with no indication of slowing down. The Iron Bank and v2 vaults are particularly notable components of our exponential growth. You can view and track TVL metrics among our products using [yearn.science](https://yearn.science/).  - -A big thank you to everyone in the Yearn ecosystem, our partners, and of course you, the users. - -## How You Can Contribute to Yearn - - ![](image4.png) - -You may ask, “How can I contribute to Yearn?” For one, Yearn has no papers of incorporation, no headquarters, nor even a list of names and locations for its contributors. It’s a radical experiment in decentralization & here’s how easy it is to get involved. - -Visit our public page at [yearnfinance.notion.site](https://yearnfinance.notion.site). Here, you’ll learn about Yearn’s decentralized structure, culture of doing, open roles, and how to get in touch. - -Looking to jump in now and start doing? 1. Visit [contribute.yearn.rocks](https://contribute.yearn.rocks) 2. Scan the list of available tasks 3. Do one that you want to do! - -Don’t see a task you want to do on the list? Good. You may know what Yearn is better than we do. Come show us. Submit your idea in our [shimmy pool of ideas](https://yearnfinance.notion.site/Pool-of-Ideas-d75383ade9154d8bb6163388c6c2b39b). Or join us in [Discord](https://discord.com/invite/6PNv2nF) and share your voice. - -How to farm YFI by working for a DAO: When other Yearn contributors see your work, they can vouch for you in Coordinape Gorilla and you’ll be on your way to earning YFI! Check out Coordinape [here](https://coordinape.com). - -Here’s what we believe: If you have fallen down Yearn's gravity well, there is a reason. Let's bump against the impossible and see if it moves. - -We are building a ship. It will carry anyone who wants to board. Any age, any gender, any worldview. You are all welcome. Yearn is a ship from the fleet of tomorrow. And all that matters is that we sail. - -What if the most radical component of Yearn isn’t the yield machine, after all? The machine is a technical apparatus constructed of code. It cannot exist without its network of hearts and minds. - -Perhaps the network itself is the most radical part of Yearn… our unique DAO and those who embody it. Perhaps the most radical component of Yearn will soon be you. - -Check out more details [here](https://twitter.com/iearnfinance/status/1445799269189881864?s=20). - -## Call for Ideas: YFI Tokenomics Revamp - -![](image5.png) - -With the renewed interest in YFI tokenomics in recent days and the v3 protocol development still being in the phase when it’s malleable enough, it might be a good time to properly tie the two together. Everything is on the table, be it token split, liquidity mining, tail emission, veCRV-style lockups. If you started YFI right now, how would you structure it? We are looking forward to the suggestions that our community puts forward, and would love to implement it in the future. - -Check out the forum post [here](https://gov.yearn.finance/t/call-for-ideas-yfi-tokenomics-revamp/11573/8). - -## Transparency at Yearn - -![](image6.png) - -Through transparency and on-chain verifiability, we firmly believe crypto will change the world. Yearn hopes to exemplify this transparency, and below, we have showcased some examples. - -See Yearn’s balance sheets, EBITDA, income and more every quarter: [https://github.com/yearn/yearn-pm/blob/master/financials/reports/2021Q2-yearn-quarterly-report.pdf](https://github.com/yearn/yearn-pm/blob/master/financials/reports/2021Q2-yearn-quarterly-report.pdf) - -In fact, you can track every single Yearn-related transaction in real time at [yfistats.com](https://www.yfistats.com/). There, you’ll find sortable: transaction records, protocol income, protocol expenses, income statements, EOM balances, charts, revenue projections, $YFI buybacks, & much more. All of this information is carefully curated by the yBudget team and, as usual, freely accessible to everyone. - -Don’t like websites? You can even track our income with custom “harvest bots” in [Discord](https://discord.com/invite/6PNv2nF) and [Telegram](https://t.me/yfi_harvest_tracker). - -Want to join one of the most open and transparent platforms in history? Good news: we show you exactly how you can contribute with a list of tasks just waiting for new contributors: https://contribute.yearn.rocks - -The future is here, it’s just not evenly distributed. - -Thank you to the Yearn community and all the contributors at Yearn who helped to make this happen. If you’d like to contribute, come join our public [discord](https://discord.gg/8rF374XkXy), create an issue in one of the [repos](https://github.com/yearn) linked in the [medium](https://medium.com/iearn/yearn-ui-v3-0-a194355bdb1f), or share your designs with us on [twitter](https://twitter.com/iearnfinance)! - -Read an in-depth thread on Yearn’s transparency [here](https://twitter.com/iearnfinance/status/1445143482830446600?s=20). - -Check out the vaults [here](http://yearn.finance/vaults). - -## Vaults At Yearn - -You can read a detailed description of the strategies for all of our active yVaults [here](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3). - -## Ecosystem News - -[MyEtherWallet users now have access to Yearn vaults on the Android app](https://twitter.com/myetherwallet/status/1443283619867414537) - -[storming0x has joined yAcademyDAO, where he will be starting off auditing a rebalancer strategy for Yearn](https://twitter.com/yAcademyDAO/status/1443138482604371974) - -[Check out a comprehensive report on Yearn written by the Economics Design team](https://econteric.com/fundamentals/yearn-finance/) - -[Earn fixed APR on your YFI or speculate on YFI’s variable yield on Aave on 88mph](https://twitter.com/88mphapp/status/1445880439420325889) - -[A proposal has been created to donate Curve voter airdrops to yvBOOST ](https://gov.yearn.finance/t/donate-curve-voter-airdrops-to-yvboost/11587) - -[Check out a summary of issues and fixes that the yAcademyDAO has recently made for a Yearn strategy](https://twitter.com/yAcademyDAO/status/1445414387573997569) - -[As integrators, we urge COMP holders to vote on cancelling the passage of Compound Proposal 63](https://twitter.com/bantg/status/1445312250827390979?s=20) - -[Yearn v2 portfolios on Fantom are now tracked on DeBank](https://twitter.com/DeBankDeFi/status/1446624448744886273) - -[Short thread on Yearn and the future from Wot\_Is\_Goin\_On](https://twitter.com/Wot_Is_Goin_On/status/1446540007292952579) diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-48/image1.png b/Newsletters/_posts/Yearn-Finance-Newsletter-48/image1.png deleted file mode 100644 index 0e7430fb3..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-48/image1.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-48/image2.png b/Newsletters/_posts/Yearn-Finance-Newsletter-48/image2.png deleted file mode 100644 index 02bb3f361..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-48/image2.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-48/image3.png b/Newsletters/_posts/Yearn-Finance-Newsletter-48/image3.png deleted file mode 100644 index fa1451f42..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-48/image3.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-48/image4.png b/Newsletters/_posts/Yearn-Finance-Newsletter-48/image4.png deleted file mode 100644 index f7f155e95..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-48/image4.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-48/image5.png b/Newsletters/_posts/Yearn-Finance-Newsletter-48/image5.png deleted file mode 100644 index 7680cb94a..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-48/image5.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-48/image6.png b/Newsletters/_posts/Yearn-Finance-Newsletter-48/image6.png deleted file mode 100644 index d8c42bd87..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-48/image6.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-49/2021-11-14-Yearn-Finance-Newsletter-49.md b/Newsletters/_posts/Yearn-Finance-Newsletter-49/2021-11-14-Yearn-Finance-Newsletter-49.md deleted file mode 100644 index cb546ca75..000000000 --- a/Newsletters/_posts/Yearn-Finance-Newsletter-49/2021-11-14-Yearn-Finance-Newsletter-49.md +++ /dev/null @@ -1,156 +0,0 @@ ---- -layout: post -title: "Yearn Finance Newsletter #49" -categories: [ Newsletters ] -image: ./Yearn-Finance-Newsletter-49/image1.png -author: Yearn -translator: -publish: true ---- - -# Yearn Finance Newsletter #49 - -### Week Ending November 14th, 2021 - -![](image1.png) - -Welcome to the 49th edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If you’re interested in learning more about Yearn Finance, follow our official [Twitter](https://twitter.com/iearnfinance) and [Medium](https://medium.com/iearn) accounts. - -## Summary - -- Yearn Tokenomics Revamp - -- Yearn Millennium Prize - -- Yearn Total Value Locked Reaches $6B - -- YFI Combinator’s First Project: Tesseract - -- Messari Publishes A Report on Yearn - -- Yearn Treasury Status - -- Yearn Devs Save Robo Vault From $50M Loss - -- Fixed Forex Zaps - -- $2M Paid to Yearn Partners - -- Vaults at Yearn - -- Ecosystem News - - -## YFI Tokenomics Revamp - -![](image2.png) - -Recently, several Yearn community members and developers have banded together to create actionable plans to upgrade the YFI tokenomics. Some of these suggestions include a token split, a veCRV model, fee sharing, fee reduction, vault insurance, and many more amazing ideas. Thank you to all of the people involved for your valuable input. - -Check out the forum post [here](https://gov.yearn.finance/t/call-for-ideas-yfi-tokenomics-revamp/11573/1) and fill out a short anonymous survey to give your thoughts on how to best update YFI’s tokenomics [here](https://twitter.com/wot_is_goin_on/status/1457051296909959171?s=21). The other best way to get involved in tokenomics discussions is at the [Yearn discord server](https://discord.com/invite/A7VwrCCWDu). - -Overviews of the recent YFI Tokenomics Meetings can be found [here](https://www.notion.so/Tokenomics-Event-4942f645a4a546669996fcc945403776) and [here](https://docs.google.com/document/d/1Xz_0Yi1LwdZZh2ry50v4w94qc-2h5QTiNkJpVF17daI/edit). - -## Yearn Millennium Prize - -![](image3.png) - -Write a strategy which consistently and safely earns 40% APY on $300 million or 12% on $1 billion for a month and you'll earn $1 million in monthly strategist fees. - -If you pull this off, Yearn would also match and reward you with a prize of $1 million. - -This applies to WETH, WBTC, USDC, DAI, and USDT vaults. Subject to DAO approval. Limited to one prize. - -Learn more on Yearn’s process of creating and deploying strategies [here](https://twitter.com/flashfish0x/status/1460246273488044036?s=21). - -## Yearn Total Value Locked Reaches $6B - -![](image4.png) - -Total value locked across all Yearn products has reached $6 billion, and almost $1 billion has been added in the last month alone. Yearn is continuing to see parabolic growth among its products with no indication of slowing down. The Iron Bank and v2 vaults are particularly notable components of our exponential growth. You can view and track TVL metrics among our products using [yearn.science](https://yearn.science/).  - -A big thank you to everyone in the Yearn ecosystem, our partners, and of course you, the users. - -To celebrate this milestone, claim your geo-located $6B TVL NFT made by @MoTomiWasTaken [here](https://6b-pill.glitch.me/). - -## YFI Combinator’s First Project: Tesseract - -![](image5.png) - -Tesseract is the first project hatched from YFI Combinator, our newest early-stage incubator. It leverages the expertise amassed at Yearn to bring the best yields to a wider audience. - -Tesseract Finance is a multi-dimensional yield farming protocol where you can experience DeFi at the speed of light with the best of Yearn’s strategies - now on Polygon. Add liquidity to Tesseract and start generating juicy yields. - -Back in spring, the Tesseract team watched Ethereum drown in fees and thought: you know what’d be cool? A yield aggregator that’s immune to Ethereum’s scaling pains. Luckily, 2021 has been a cambrian explosion of sidechains and big-ticket L2s.  - -They happened to see Polygon as the best fit for a Yearn-like protocol. At the time, Ethereum’s scaling solutions were just starting to raise crops. A few farms here, meadows there. Some leverage opportunities but a lot of potential. - -Today, Polygon is ready for industrial-level farming, which Tesseract aims to achieve.  - -Their first dimension has launched, and it has 4 vaults: USDC, DAI, WBTC & WETH, with a strategy (leveraged AAVE). For farmer safety, we will start with a $1M cap/vault. Then, the training wheels come off. - -A stable and safe yield aggregator on Polygon lets anyone farm yields without the ‘manual labor’. All you need to do is deposit funds in one (or more) of the four vaults. The strategy does the rest. - -Check out the vaults on Polygon [here](https://tesr.finance/#/). Got questions or want to learn more? Read the [announcement](https://medium.com/tesseract-finance/the-genesis-of-tesseract-finance-9b73400a05b1). - -## Messari Publishes A Report on Yearn - -Messari has recently published a comprehensive report on Yearn detailing our growth and statistics of various vaults. This report additionally covers Yearn’s links to “DeFi 2.0” protocols, future multichain expansions, updates, and partnerships.  - -Read the article [here](https://messari.io/article/yearning-for-yearn). - -## Yearn Treasury Status - -![](image6.png) - -As of October 29, Yearn's Treasury holds a $27.2m balance in non-native tokens, of which $13.7m is stablecoins.  - -We also hold 3935 YFI, currently valued at $137m. Assets excluding YFI tokens is 16.5% making it among the most diversified balance sheets in DeFi. - -Check out various Yearn statistics [here](https://yearn.vision/) and view the GitHub [here](https://github.com/BobTheBuidler/yearn-exporter/tree/treasury). - -## Yearn Devs Save Robo Vault From $50M Loss - -![](image7.png) - -With the help of the Yearn team, Robo Vault has identified and fixed a critical issue that could have affected over $50 million in user deposits. Yearn has also salvaged over $9 million from the CREAM exploit, which has since been returned. - -Read more on the process [here](https://medium.com/@RoboVault/post-mortem-next-steps-3556820b7470), and view the CREAM repayment transaction [here](https://twitter.com/iearnfinance/status/1453681370698502148). - -## Fixed Forex Zaps - -![](image8.png) - -We have collaborated with Zapper, so Yearn users can zap into Keep3r Fixed Forex vaults with almost any token in your wallet.  - -Earn compounding yield natively on AUD, CHF, EUR, GBP, JPY, KRW (and ZAR soon) at [beta.yearn.finance/#/vaults](http://beta.yearn.finance/#/vaults). - -## $2 Million Paid to Yearn Partners - -More projects are moving to Yearn's fertile gardens, where they can source yield and feel protected by the Citadel walls. They focus on their own products and moats and earn up to 50% of user fees back to DAO simply for building on top of Yearn. Thank you to our happy partners including Frax, BadgerDAO, Abracadrabra, Pickle, Element, Alchemix, and many others. - -[Check out the tweet here.](https://twitter.com/iearnfinance/status/1456736892376989697?s=21) - -## Vaults At Yearn - -You can read a detailed description of the strategies for all of our active yVaults [here](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3). - -## Ecosystem News - -[Yearn Basic Income coming soon](https://twitter.com/0x7171/status/1451584344213135392) - -[Get WOOFY stickers at LX Factory in Lisbon](https://twitter.com/saltyfacu/status/1450786439306924036) - -[Yearn alumni Matt West is the first DeFi developer to run for Congress](https://twitter.com/CoinDesk/status/1450218098246701056) - -[Join the next group of yAcademy fellows here](https://twitter.com/iearnfinance/status/1450561465463672832) - -[Listen to tracheopteryx as he joins Colony’s podcast to speak about compensation in DAOs](https://twitter.com/joincolony/status/1450159578268807169) - -[Yearn devs are actively identifying and fixing protocol issues in war rooms](https://twitter.com/iearnfinance/status/1454092767580327938) - -[Check out the EthBlocks NFT commemorating the deployment of the YFI token](https://twitter.com/iearnfinance/status/1459238290394009600?s=21) - -[What are you going to gift this yMas?](https://twitter.com/y___gift/status/1459947639299051524?s=21) - -[Learn how to protect your Gnosis Safe from attacks in the new Yearn Engineering blog](https://mirror.xyz/yearn-finance-engineering.eth/9uInM_sCrogPBs5qkFSNF6qe-32-0XLN5bty5wKLVqU) diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-49/image1.png b/Newsletters/_posts/Yearn-Finance-Newsletter-49/image1.png deleted file mode 100644 index 0e7430fb3..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-49/image1.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-49/image2.png b/Newsletters/_posts/Yearn-Finance-Newsletter-49/image2.png deleted file mode 100644 index 328514020..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-49/image2.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-49/image3.png b/Newsletters/_posts/Yearn-Finance-Newsletter-49/image3.png deleted file mode 100644 index 05ddcee5f..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-49/image3.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-49/image4.png b/Newsletters/_posts/Yearn-Finance-Newsletter-49/image4.png deleted file mode 100644 index 35266f0db..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-49/image4.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-49/image5.png b/Newsletters/_posts/Yearn-Finance-Newsletter-49/image5.png deleted file mode 100644 index 084861e49..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-49/image5.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-49/image6.png b/Newsletters/_posts/Yearn-Finance-Newsletter-49/image6.png deleted file mode 100644 index 02a6f29fd..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-49/image6.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-49/image7.png b/Newsletters/_posts/Yearn-Finance-Newsletter-49/image7.png deleted file mode 100644 index 36bc8c517..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-49/image7.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-49/image8.png b/Newsletters/_posts/Yearn-Finance-Newsletter-49/image8.png deleted file mode 100644 index 5762a7ac0..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-49/image8.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-50/2021-12-05-Yearn-Finance-Newsletter-50.md b/Newsletters/_posts/Yearn-Finance-Newsletter-50/2021-12-05-Yearn-Finance-Newsletter-50.md deleted file mode 100644 index 042b732ad..000000000 --- a/Newsletters/_posts/Yearn-Finance-Newsletter-50/2021-12-05-Yearn-Finance-Newsletter-50.md +++ /dev/null @@ -1,121 +0,0 @@ ---- -layout: post -title: "Yearn Finance Newsletter #50" -categories: [ Newsletters ] -image: ./Yearn-Finance-Newsletter-50/image1.png -author: Yearn -translator: -publish: true ---- - -# Yearn Finance Newsletter #50 - -### Week Ending December 5th, 2021 - -![](image1.png) - -Welcome to the 50th edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If you’re interested in learning more about Yearn Finance, follow our official [Twitter](https://twitter.com/iearnfinance) and [Medium](https://medium.com/iearn) accounts. - -## Summary - -- New Yearn UI - -- YFI Tokenomics Update Proposal - -- Updated Yearn Docs - -- YIP-64 Fails To Meet Quorum - -- Yearn Delegates 23M veCRV to Convex - -- Yearn Snapshot Strategy - -- Vaults at Yearn - -- Ecosystem News - -## New Yearn UI - -![](image2.png) - -We’ve rebuilt [yearn.finance](https://yearn.finance/) from scratch with tons of feedback from our community. It's live now, so take it for a spin.  - -One of the most interesting features (in our opinion) is the Simulations feature. To deposit into vaults in previous UI versions we added Zapper support so, for example, you can deposit into 3CRV vault with ETH or any token supported by Zapper, which is fast and convenient and implies that a swap will happen in your deposit. What is that "Simulating.." message you may ask? Well that "Simulating..." label checks your input tokens and with Zapper's API and Tenderly, an awesome service that eagerly executes a simulation of your transaction.This simulation calculates what the exact output would be, like a preview of your deposit. e.g ETH>3crv.  - -Why is this useful and great? Well, given the protocols involved and on-chain state being dynamic, it's hard to predict a good estimate of vault tokens you can receive. Your slippage may be bigger than expected, or your token path may fail and cost you gas, etc. This simulation may save you gas either on deposit or withdrawals. - -Withdrawals are another area that is hard to predict. Simulations help check if you can withdraw given the vault conditions, some are more liquid than others depending on strategies allocations. - -If you get a "Simulation Failed.." msg, odds are that if you move forward with the transaction it will revert. - -The v3 UI is new so more work is being done to improve this UX to be even more smooth. - -Look under the hood [here](https://medium.com/iearn/yearn-ui-v3-0-a194355bdb1f). If you’re a developer, contribute [here](https://github.com/yearn/yearn-finance-v3). - -## YFI Tokenomics Update Proposal - -A snapshot poll is live to gauge support for community proposals on YFI tokenomics. - -There are currently 5 options up for vote, with the working names being ySplit, veYFI, xYFI, BurnKeYs, and Status Quo. The [ySplit proposal](https://docs.google.com/document/d/1dAWTkS_ZsXNy7mKKjOFUjILSlLsLz9KhGfLrwVu0GUg/edit) suggests splitting the YFI token into 10,000 to 1,000,000 to combat unit bias. The [veYFI proposal](https://docs.google.com/document/d/1hoi-IVccOB6iUJYzuApVbyjbQBx8-M0UuzZosb9wlWM/edit) suggests locking YFI for a given period of time in order to receive governance rights that dictate the vaults where treasury earnings should go. [xYFI](https://docs.google.com/document/d/1ev16BXu3bDC8zMSBvHmxMWIeD82ptZck6SJAO5frV5g/edit) suggests the creation of a YFI staking vault where excess treasury earnings are to be sent. [BurnKeYs](https://docs.google.com/document/d/1BqmRsfdfCIaCtNZULdhKqUJzpKdaHE1XOGQlVp2nuSc/edit) calls for the mint function of the YFI token to be permanently disabled, thus capping the supply at 36,666 tokens. Status Quo would leave the YFI tokenomics in its current state and inform holders and potential investors of the benefits. - -Vote here at [the Snapshot page](https://yearn.snapshot.page/#/proposal/0x783cb3d57dd59b2827f6a42967375f06504cc947ebaa3c0e495c7b29ffd47aea). Thank you to all in the community who have contributed. An update from the working group, haiku included, can be found [here](https://docs.google.com/document/d/1-YEfXqXgTm-qzhPRUKs5allfX1XqYUOYwr_49FApnLU/edit). - -## Updated Yearn Docs - -Several months ago Yearn contributors set out to rewrite our docs to make them friendly and approachable. - -The completely refreshed docs are here to guide users, devs, partners, and to feed your curiosity with many previously unseen entries. - -Check out the new docs [here](https://docs.yearn.finance/). - -## YIP-64 Fails To Meet Quorum - -![](image3.png) - -YIP-64: Adjust fees on non-stablecoin yVaults entered the voting phase and ended in the majority voting against adjusting fees. - -Check out the proposal [here](https://snapshot.org/#/ybaby.eth/proposal/0xfe7296601d199b89a8aa53f95d6243ef935d736bea2f13109979d8d5098017d2). - -## Yearn Delegates 23M veCRV to Convex - -![](image4.png) - -Yearn has delegated 23 million veCRV to Convex Finance using Curve’s new native boost delegation feature. This will increase yields of factory pools for both our DAOs. This does not affect regular pools, fees or voting. - -Delegating unused veCRV [here](https://convex-boost-delegation.vercel.app/) increases factory rewards for all Convex participants, this further helps increase yield for Convex and Yearn. Our delegation transaction can be found [here](https://etherscan.io/tx/0x4734c879b23c678cb97ba90591e16a14f1f7a2e0a7d71bfa67d2e7bb5d718e5f). - -## Yearn Snapshot Strategy - -In preparation for several important votes, Yearn's Snapshot strategy got refreshed. - -It allows you to vote with productive YFI, namely YFI in wallet, all Yearn v2 vaults, Bancor, Balancer v2, Uniswap v2, Sushi (incl. MasterChef), MakerDAO, Unit, Instadapp (incl. MakerDAO). - -The contract can be found [here](https://github.com/yearn/snapshot-strategy) and the deployment can be found [here](https://etherscan.io/address/0xA79e803FffE9DA37477ddaFD7C6F3dbDCa1C566C#code) - -## Vaults At Yearn - -You can read a detailed description of the strategies for all of our active yVaults [here](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3). - -## Ecosystem News - -[Securely use your YFI on Qredo Network’s platform](https://twitter.com/QredoNetwork/status/1461031928564436994) - -[Listen to Into the Byte Code with tracheopteryx](https://twitter.com/benmercerdev/status/1464347991674863626?s=21) - -[Steakwallet now supports Yearn’s beta vaults on Fantom](https://twitter.com/steakwallet/status/1463623834389602311?s=21) - -[Tesseract enters top five fastest growing protocols on Polygon](https://twitter.com/marketducky/status/1461734313636945926?s=21) - -[Watch the Coordinape onboarding video](https://twitter.com/coordinape/status/1460591450413015043?s=21) - -[Checkout Yearn on Argent’s L2 wallet with fees as low as $2](https://twitter.com/argentHQ/status/1468934923264401419) - -[Tesseract vaults have increased their deposit limits](https://twitter.com/tesseract_fi/status/1468217220966801413) - -[Get a discount on ETHDubai tickets by holding $yvBOOST or $yvYFI](https://twitter.com/ETHDubaiConf/status/1467068791456923648) - -[See Zapper’s spotlight on Yearn Simulations](https://twitter.com/zapper_fi/status/1466447565302517765) - -[Listen in to Facu’s insights on Yearn with the On the Ledger podcast](https://twitter.com/Ledger/status/1465678701635506185) - -[YFI is now spendable in Flexa’s app](https://twitter.com/FlexaHQ/status/1469092114038415364) diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-50/image1.png b/Newsletters/_posts/Yearn-Finance-Newsletter-50/image1.png deleted file mode 100644 index 4e0828dbf..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-50/image1.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-50/image2.png b/Newsletters/_posts/Yearn-Finance-Newsletter-50/image2.png deleted file mode 100644 index f58687be7..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-50/image2.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-50/image3.png b/Newsletters/_posts/Yearn-Finance-Newsletter-50/image3.png deleted file mode 100644 index f0fad47a2..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-50/image3.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-50/image4.png b/Newsletters/_posts/Yearn-Finance-Newsletter-50/image4.png deleted file mode 100644 index c5d30cbcb..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-50/image4.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-51/2021-12-22-Yearn-Finance-Newsletter-51.md b/Newsletters/_posts/Yearn-Finance-Newsletter-51/2021-12-22-Yearn-Finance-Newsletter-51.md deleted file mode 100644 index da367d636..000000000 --- a/Newsletters/_posts/Yearn-Finance-Newsletter-51/2021-12-22-Yearn-Finance-Newsletter-51.md +++ /dev/null @@ -1,99 +0,0 @@ ---- -layout: post -title: "Yearn Finance Newsletter #51" -categories: [Newsletters] -image: ./Yearn-Finance-Newsletter-51/image1.png -author: Yearn -translator: -publish: true ---- - -# Yearn Finance Newsletter #51 - -### Week Ending December 19th, 2021 - -![](image1.png) - -Welcome to the 51th edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If you’re interested in learning more about Yearn Finance, follow our official [Twitter](https://twitter.com/iearnfinance) and [Medium](https://medium.com/iearn) accounts. - -## Summary - -- YFI Tokenomics Poll Finalized -- Yearn Has Purchased $7.5M of YFI -- Proposal: Evolving YFI’s Tokenomics -- Report: Reborn As A Black Hole -- Yearn Holiday Card NFT -- Vaults at Yearn -- Ecosystem News - -## YFI Tokenomics Poll Finalized - -The YFI tokenomics poll has ended with xYFI as the leading option. xYFI suggests the creation of a YFI staking vault where excess treasury earnings are to be sent. - -Huge thanks to [Fin4Dao](https://twitter.com/Fin4Dao) for all the facilitation work. Check out the snapshot [here](https://snapshot.org/#/ybaby.eth/proposal/0x783cb3d57dd59b2827f6a42967375f06504cc947ebaa3c0e495c7b29ffd47aea). - -## Yearn Has Purchased $7.5M of YFI - -![](image2.png) - -Yearn has purchased $7,526,343 worth of YFI from the open market. We got 282.4 YFI (0.77% of total supply) at an average price of $26,651. More YFI has been bought back in the past month than in the prior year. - -Now that the Treasury has more than $45 million saved up and with earnings stronger than ever, expect much more aggressive buybacks. What will you do anon? - -We have also been purchasing back a significant amount of yvBOOST in order to restore the peg. Transactions can be found here: [https://etherscan.io/token/0x9d409a0a012cfba9b15f6d4b36ac57a46966ab9a?a=0x7d2aB9CA511EBD6F03971Fb417d3492aA82513f0](https://etherscan.io/token/0x9d409a0a012cfba9b15f6d4b36ac57a46966ab9a?a=0x7d2aB9CA511EBD6F03971Fb417d3492aA82513f0) - -## Proposal: Evolving YFI’s Tokenomics - -![](image3.png) - -Step 1 is xYFI, where one stakes in the xYFI vault, earning back YFI from the treasury. - -Step 2 is veYFI, where one vote-locks YFI, with decay and time extension. Max-lock and earn disproportionate rewards compared to those who lock for shorter duration. Early exit any time but pay a penalty to the other stakers. - -Step 3 is Vault gauges, where one stakes their yVault token in a gauge, earning YFI rewards, boosted by how much veYFI they have staked. Vote on which vaults should get allocated rewards. Pay a penalty to other stakers if you don't have a strong enough lock. - -Step 4 is useful work, in which veYFI holders earn additional rewards by doing useful work. This is is pending the final form of the vaults v3 design. Things that it could be (but not limited to) includes configuring vault parameters, setting fees, providing insurance. - -The proposal asks that the mandate is given to developers to implement these high level designs at their discretion. Once rolled out, only xYFI and later veYFI would be eligible to vote in Yearn Governance. - -What will the rewards be, you ask? The treasury is buying back more YFI than ever, and expect to be able to direct $35-45m to buybacks per year. At a YFI price of $30k, that's 100 YFI/month. - -Read all the details in the proposal [here](https://gov.yearn.finance/t/proposal-evolving-yfi-tokenomics/11994), get involved, and let us know what you think. A big shout out to all the participants on the forum, Discord, and Telegram chats who helped shape the form of this proposal over the past two months. - -## Report: Reborn As A Black Hole - -![](image4.png) - -Ape Froman has recently published a report detailing a comprehensive overview of Yearn, and he details the recent tokenomics troubles at Yearn, potential fixes, and further integrations of the YFI token into the greater DeFi ecosystem. This will allow better value capture for holders and allow for a potential imbalance in the circulating supply of YFI - thus driving demand. - -Special thanks to [Ape Froman](https://medium.com/@portiadog) for the thoughtful writeup. Check out the full piece [here](https://medium.com/@portiadog/yfi-reborn-as-a-black-hole-db249b90ed5a). - -## Yearn Holiday Card NFT - -![](image5.png) - -Get in on Project Galaxy's Holiday Treasure Hunt and grab this Yearn Holiday Card NFT, just for being a Yearn Newsletter subscriber. - -Collect all 12 NFTs from Project Galaxy ecosystem partners and you'll get an additional Galaxy Girl NFT, which our friends at Project Galaxy will use to drop you future goodies. Probably nothing. - -Steps are as follows: subscribe to Yearn’s weekly [newsletter](https://yearn.substack.com/), confirm your (new or existing) subscription on this [Google form](https://forms.gle/gsVpRsjdSXxyaXha9), and claim your rewards [here](https://galaxy.eco/yearn/campaign/GCTj8UUaoD). - -Happy hunting and happy holidays from Yearn! - -## Vaults At Yearn - -You can read a detailed description of the strategies for all of our active yVaults [here](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3). - -## Ecosystem News - -[Check out Facu’s security chat with the Wido team who are building on top of Yearn](https://www.joinwido.com/blog/chat-with-facu-about-wido-together-and-its-security-model) - -[Deposit in Yearn with lower gas fees thanks to Argent’s L2 Wallet](https://twitter.com/argentHQ/status/1471503921851944983) - -[See the YFI pendant made by loldefi](https://twitter.com/loldefi/status/1470449196939493383) - -[$GEAR holders are eligible to vote on GIP-2 and GIP-3 to include YFI and Yearn contracts](https://twitter.com/GearboxProtocol/status/1472299963149426696?s=20) - -[Anyone in the world can contribute to the Yearn experience](https://twitter.com/bantg/status/1472038972092207107?s=20) - -[Get insured on your Yearn deposits with solace.fi](https://twitter.com/SolaceFi/status/1471594979638321153?s=20) diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-51/image1.png b/Newsletters/_posts/Yearn-Finance-Newsletter-51/image1.png deleted file mode 100644 index 028d3450c..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-51/image1.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-51/image2.png b/Newsletters/_posts/Yearn-Finance-Newsletter-51/image2.png deleted file mode 100644 index bd791572e..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-51/image2.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-51/image3.png b/Newsletters/_posts/Yearn-Finance-Newsletter-51/image3.png deleted file mode 100644 index a6a366838..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-51/image3.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-51/image4.png b/Newsletters/_posts/Yearn-Finance-Newsletter-51/image4.png deleted file mode 100644 index e3416a154..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-51/image4.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-51/image5.png b/Newsletters/_posts/Yearn-Finance-Newsletter-51/image5.png deleted file mode 100644 index 86cd4ba3a..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-51/image5.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-52/2022-01-02-Yearn-Finance-Newsletter-52.md b/Newsletters/_posts/Yearn-Finance-Newsletter-52/2022-01-02-Yearn-Finance-Newsletter-52.md deleted file mode 100644 index fd356a651..000000000 --- a/Newsletters/_posts/Yearn-Finance-Newsletter-52/2022-01-02-Yearn-Finance-Newsletter-52.md +++ /dev/null @@ -1,125 +0,0 @@ ---- -layout: post -title: "Yearn Finance Newsletter #52" -categories: [Newsletters] -image: ./Yearn-Finance-Newsletter-52/image1.png -author: Yearn -translator: -publish: true ---- - -# Yearn Finance Newsletter #52 - -### Week Ending January 2nd, 2022 - -![](image1.png) - -Welcome to the 52th edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If you’re interested in learning more about Yearn Finance, follow our official [Twitter](https://twitter.com/iearnfinance) and [Medium](https://medium.com/iearn) accounts. - -## Summary - -- YIP-65 Enters Voting - -- [Proposal] Mean - DCA Buyback Pilot Program - -- Reflecting on Yearn - -- Yearn Has Received a 1M FTM Grant From the Fantom Foundation - -- Vaults at Yearn - -- Ecosystem News - -## YIP-65 Enters Voting - -![](image2.png) - -In summary, YIP-65 seeks to evolve the role YFI plays in Yearn over four distinct phases, cementing the vision of the token as the fundamental foundation of governance. - -This will be done by directing a portion of YFI that is bought back by the Treasury as a result of [BABY](https://yips.yearn.finance/YIPS/yip-56) as rewards to those YFI token holders who actively participate in Yearn Governance. - -Then, the role YFI plays in Yearn Governance will be evolved through four distinct components. - -1: xYFI. Distribute YFI that's been bought back with Treasury tokens as rewards in a YFI vault. - -2: Vote-locked YFI. Introduce ve-style locking of YFI (veYFI) for up to four years (exact max duration tbd), where a longer locking duration gives a greater share of voting power and share of YFI rewards. An early exit from the lock is possible by paying a penalty that is rewarded to the other locked token holders. - -3: Vault Gauges + Voting. Introduce vault gauges where vault depositors stake their vault tokens and earn YFI rewards according to their veYFI weight. YFI are allocated to gauges based on weekly governance votes. - -4: "Useful work" features. Expand the duties and responsibilities of veYFI voters, and their locked YFI, in exchange for earning additional protocol rewards. Pending the tbc v3 vault design. - -Next, a mandate will be given to Yearn Developers to roll out the above components at their discretion as and when they become feasible. - -Finally, the YFI eligible to vote in Yearn Governance will be restricted to only those staked in xYFI (from Phase 1 and onwards) or vote-locked in Yearn (from Phase 2 and onwards). - -Read more about the proposed tokenomics upgrades and benefits [here](https://gov.yearn.finance/t/yip-65-evolving-yfi-tokenomics/11994) and vote on the snapshot [here](https://snapshot.org/#/ybaby.eth/proposal/0x8f7417fa5565d9f46e16618503e8808c36d51b2a9e8217a68c632d7c090d69d9). - -Special thanks to authors: @0xJiji, @banteg, daryllautk, HAtTip3675, @onlylarping, @vany365, and @Wot_Is_Goin_On for creating this important proposal. - -## [Proposal] Mean - DCA Buyback Pilot Program - -![](image3.png) - -The objective of this pilot program is to provide a better understanding through example that DCAing is a better way to execute buy-backs within the treasury. - -The Yearn team, on the basis that a Snapshot vote passes, will allocate $1M worth of ETH (249.376559 ETH @ $4010 per ETH) towards this buyback program and create a 30 days position YFI to ETH within Mean Finance at a rate of 8.31255197 ETH per day - -The Mean team hopes to at least have some resounding effects within the community & leadership of the DAO. - -Read more about the proposal [here](https://gov.yearn.finance/t/proposal-mean-dca-buyback-pilot-program/12065). - -## Reflecting on Yearn - -It’s 2022, time to re-analyze your DeFi bets. Here's a short overview of why Yearn is different. - -Whilst Yearn is usually labeled as a “yield aggregator” this can lead to the idea that a team works on generating a yield. Even worse it's sometimes considered a simple CRV farmer. This is not a useful way to understand Yearn. - -There are currently significant constraints on yield generation such as a small pool of people who can build strategies, high gas fees limiting certain strategies, lack of battled-tested protocols to build strategies and a lack of ways to automate processes. - -Rather than wait for these constraints to ease (and they already are with more strategists being on-boarded, other chains and L2s with low fees), Yearn has been quietly building infrastructure to optimize the interaction between protocols, strategists and capital at scale. - -Yearn has been building the machine that builds the machine of yield aggregation (to paraphrase Mr. Musk), ready for a world of an ever-increasing number of tokens, complex protocols, chains, strategists, tooling and capital. - -With $7bn of DeFi hacks in 2021 the primary focus has been on security. Most DeFi protocols limit financial risks by tweaking parameters (e.g. lending protocols reduce the loan-to-collateral value of riskier assets), and minimize technological risks by focusing on one thing (e.g. lending). - -Yearn does DeFi the hard way as it combines multiple protocols and strategies within a single vault. Other protocols boast about the number of audits they've done. Yearn's yAcademy is training the next generation of auditors - helping speed up the approval of new strategies. - -After security comes capital efficiency – figuring out how a vault should be split across lending protocols, LPs, leveraged farm opportunities and other strategies to optimize the risk-adjusted returns. And then trying to automate it. - -Part of the reason behind YFI's "fair launch" was the realization that producing a high risk-adjusted yield for the trillions of dollars sitting in TradFi would be too much work for one team. The YFI boarding school is now training first-time strategists. - -Scalability requires reducing manual processes - buybacks, harvests, changing the strategy weightings, hedging after price movements. It's no coincidence Andre created - -Keep3r. There's even a data analysis group working on the optimal time to do buybacks. - -Coordination with decentralization – how do you build a system that incentivizes people who’ve never met to make all this happen? Coordinape helps - a tool whose origins go back to a Yearn group that first ran into the problem - is now being used by countless DAOs. - -Each new DeFi protocol creates a potential opportunity for a strategist. The new strategy improves the risk-adjusted yield for the vaults which incentivizes more capital, leading to more fees which can be used to build this beast of a platform. - -The examples in this thread show how Yearn is attempting to solve the generalized problems in DeFi. The term "DeFi protocol" doesn't seem to do it justice, maybe Yearn could be better described as a fintech DAO. - -Thank you to Wot_Is_Goin_On for the amazing thread that can be found [here](https://twitter.com/Wot_Is_Goin_On/status/1477277152336916484). - -## Yearn Has Received a 1M FTM Grant From the Fantom Foundation - -![](image4.png) - -Yearn has received a 1M FTM grant from the Fantom Foundation. - -We didn't dump, over 90% was donated to the FTM vault. Other vaults got a proportional donation for an immediate 1% increase in value. - -This grant is the first of many, we will continue receiving more as we hit TVL goals. - -## Vaults At Yearn - -You can read a detailed description of the strategies for all of our active yVaults [here](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3). - -## Ecosystem News - -[Check out DeFi Saver’s new Smart Savings dashboard including Yearn](https://twitter.com/DeFiSaver/status/1476614075815809028?s=20) - -[See the 2021 Yearn contributor hoodie made by loldefi](https://twitter.com/loldefi/status/1477062572595884032) - -[Yearn continues to buyback yvBOOST](https://twitter.com/wavey0x/status/1474946151006842884) - -[Read an analysis on $CRV bribes including yvBOOST](https://twitter.com/0xSEM/status/1475284063204388867) diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-52/image1.png b/Newsletters/_posts/Yearn-Finance-Newsletter-52/image1.png deleted file mode 100644 index 4e0828dbf..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-52/image1.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-52/image2.png b/Newsletters/_posts/Yearn-Finance-Newsletter-52/image2.png deleted file mode 100644 index c6ead7f5e..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-52/image2.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-52/image3.png b/Newsletters/_posts/Yearn-Finance-Newsletter-52/image3.png deleted file mode 100644 index 723216b1d..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-52/image3.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-52/image4.png b/Newsletters/_posts/Yearn-Finance-Newsletter-52/image4.png deleted file mode 100644 index c7bd285f8..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-52/image4.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-53/2022-01-11-Yearn-Finance-Newsletter-53.md b/Newsletters/_posts/Yearn-Finance-Newsletter-53/2022-01-11-Yearn-Finance-Newsletter-53.md deleted file mode 100644 index 6671c2232..000000000 --- a/Newsletters/_posts/Yearn-Finance-Newsletter-53/2022-01-11-Yearn-Finance-Newsletter-53.md +++ /dev/null @@ -1,94 +0,0 @@ ---- -layout: post -title: "Yearn Finance Newsletter #53" -categories: [Newsletters] -image: ./Yearn-Finance-Newsletter-53/image1.png -author: Yearn -translator: -publish: true ---- - -# Yearn Finance Newsletter #53 - -### Week Ending January 9nd, 2022 - -![](image1.png) - -Welcome to the 53th edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If you’re interested in learning more about Yearn Finance, follow our official [Twitter](https://twitter.com/iearnfinance) and [Medium](https://medium.com/iearn) accounts. - -## Summary - -- Transparency at Yearn -- Yearn Web Updates -- Register for the Next Iteration of yAcademyDAO -- Yearn Has Received An Additional 1M FTM Grant From the Fantom Foundation -- Vaults at Yearn -- Ecosystem News - -# Transparency at Yearn - -![](image2.png) - -# More transparency. More alpha. - -Two new tools from Yearn illuminating the mysterious depths of the rabbit hole are the [content aggregator](https://blog.yearn.finance/) and the [vault encyclopedia](https://vaults.yearn.finance/). - -With the content aggregator, you can find all the most important information coming from Yearn. Go to one link for the latest announcements, tweets, newsletters, articles, and quarterly financials from Yearn. You’ll also find unrolled big brain twitter threads from Yearn contributors like tracheopteryx - -With the new community-created encyclopedia on Yearn vaults, you can find in-depth information about how yVaults operate and review the actions/strategies these vaults perform. - -Once hosted on Medium, the new vault site adds filters, multichain coverage, auto-updating content, and (coming soon) support for multiple languages! - -Read more about the tools here. Thanks to @0xMajor, @KoxEvan, and DarkGhosty for their amazing work on the vault encyclopedia. - -# Yearn Web Updates - -![](image3.png) - -In an effort to increase transparency, several contributors to Yearn's web ecosystem have started a newsletter that will collect new features, ongoing issues, and planned updates, in addition to periodic deep-dives on the web tech stack. - -Major points from this release include improved UX and speed when switching networks, including a prompt to add Fantom in your wallet if necessary and improved support for Fantom in yearn-exporter - -As always, if you have feedback or suggestions for the website, or would like to contribute, reach out on [Discord](https://discord.com/invite/yearn). - -Check out the updates [here](https://yearnweb.substack.com/p/update-jan-5-2022?showWelcome=true). - -# Register for the Next Iteration of yAcademyDAO - -![](image4.png) - -For the unfamiliar, the yAcademyDAO is a community-driven approach to blockchain security. At Yearn, we take security very seriously and yAcademy is one of our ecosystem initiatives to create sustainable and collaborative blockchain security and ensure that talent is properly utilized. - -yAcademy dao is managed by its full-time members and active contributors, with oversight and guidance from the ethereum security alliance members. - -Check out the website [here](https://yacademy.github.io/). Apply to the yAcademyDAO [here](https://docs.google.com/forms/d/e/1FAIpQLSfc5VUYOyG_cRpiRkymJOVoHluFOuiYMRONX-R7xRuvWM25Xg/viewform). - -# Yearn Has Received An Additional 1M FTM Grant From the Fantom Foundation - -Welcome to 2022, anon. The donations continue. - -Yearn has received another grant from the Fantom Foundation - -Once again, we don't dump. 208,333 FTM have been donated, with 90%+ to the FTM vault and a proportional donation to other Fantom vaults. - -We will continue this with future grants. - -# Vaults at Yearn - -You can read a detailed description of the strategies for all of our active yVaults [here](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3). - -# Ecosystem News - -[Check out the Yearn feature in the PILLS universe](https://twitter.com/pillsuniverse/status/1478321675510763520) - -[Learn how ZooDAO uses Yearn to generate yield from NFTs](https://twitter.com/ZooDAO/status/1480244287526916105) - -[Read the proposal about a “yMarkt”](https://gov.yearn.finance/t/proposal-ymarkt-the-best-buybacks-can-get/12166) - -[Theorycrafting about Andre Cronje’s new AMM and Yearn’s involvement](https://gov.yearn.finance/t/yfi-solid-theorycrafting/12181) - -[A new CLI update has been released for Keep3r](https://twitter.com/DeFi_Wonderland/status/1478061081956343812) - -[Check out Element Finance’s new DAI term utilizing Yearn vaults](https://twitter.com/element_fi/status/1478819507829293058) - -[Try out the new ApeMode vault on Fantom](https://twitter.com/poolpitako/status/1479271890933923843) diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-53/image1.png b/Newsletters/_posts/Yearn-Finance-Newsletter-53/image1.png deleted file mode 100644 index 4e0828dbf..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-53/image1.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-53/image2.png b/Newsletters/_posts/Yearn-Finance-Newsletter-53/image2.png deleted file mode 100644 index f47650d29..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-53/image2.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-53/image3.png b/Newsletters/_posts/Yearn-Finance-Newsletter-53/image3.png deleted file mode 100644 index 61b2fe91f..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-53/image3.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-53/image4.png b/Newsletters/_posts/Yearn-Finance-Newsletter-53/image4.png deleted file mode 100644 index f8c78d0b3..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-53/image4.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-54/2022-01-20-Yearn-Finance-Newsletter-54.md b/Newsletters/_posts/Yearn-Finance-Newsletter-54/2022-01-20-Yearn-Finance-Newsletter-54.md deleted file mode 100644 index 05ee19253..000000000 --- a/Newsletters/_posts/Yearn-Finance-Newsletter-54/2022-01-20-Yearn-Finance-Newsletter-54.md +++ /dev/null @@ -1,89 +0,0 @@ ---- -layout: post -title: "Yearn Finance Newsletter #54" -categories: [Newsletters] -image: ./Yearn-Finance-Newsletter-54/image1.png -author: Yearn -translator: -publish: true ---- - -# Yearn Finance Newsletter #54 - -### Week Ending January 16nd, 2022 - -![](image1.png) - -Welcome to the 54th edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If you’re interested in learning more about Yearn Finance, follow our official [Twitter](https://twitter.com/iearnfinance) and [Medium](https://medium.com/iearn) accounts. - -## Summary - -- Introducing Seven New Fantom Vaults -- New Curve Vaults Live -- Yearn Web Updates -- Yearn Finance Vaults: Knockin’ on DeFi’s Door -- Update on yvBOOST -- Vaults at Yearn -- Ecosystem News - -# Introducing Seven New Fantom Vaults - -![](image2.png) - -On Fantom, these seven vaults join the mix: WBTC, WETH, SPELL, DOLA, Curve Tricrypto, Curve Geist, and CRV - -Meanwhile, with nearly $400M TVL in Fantom vaults, we're still seeing juicy APYs, up to over 45%. Most of the Fantom vaults utilize folding on Scream, with Geist Finance and Tarot Finance strategies arriving imminently - -What's your move? Start depositing today at [yearn.finance/vaults](https://yearn.finance/vaults). - -# New Curve Vaults Live - -![](image3.png) - -On Ethereum, the following new Curve vaults are live now: CVX-ETH, CRV-ETH, 3EUR, UST Wormhole, USDPax, DOLA, and RAI - the first vault utilizing Reflexer’s custom Curve implementation - -As for 3EUR, this token represents a Curve liquidity pool. Holders earn fees from users trading in the pool, and can also deposit the LP to Curve's gauges to earn CRV emissions. This pool contains agEUR, EURT, and EURS. agEUR is a synthetic Euro issued by Angle Protocol, while EURS and EURT are both centralized, hard-pegged Euro tokens issued by Stasis and Tether, respectively. - -The 3EUR strategy supplies 3EURpool-f to Convex Finance to earn CRV and CVX (and any other available tokens). Earned tokens are harvested, sold for more 3EURpool-f which is deposited back into the strategy. - -Check out the new vaults [here](https://yearn.finance/#/vaults). - -# Yearn Web Updates - -![](image4.png) - -This week's Yearn web update includes several first-time contributors opening PRs and improved backend logic for Iron Bank & Curve LP tokens - -Upcoming updates are an updated test suite for the Yearn SDK, more descriptive simulation errors, and refactoring the API with documentation. - -Check out the full new update [here](https://yearnweb.substack.com/p/yearn-web-engineering-update). - -# Yearn Finance Vaults: Knockin’ on DeFi’s Door - -![](image5.png) - -This article from BanklessDAO offers a complete summary of the features offered by Yearn and depicts how it makes DeFi easier to use. - -Overall, using Yearn vaults is a bet on the protocol having the highest security of yield aggregators and being able to bring significant capital efficiency to DeFi with the amazing work of all strategists and their automations. - -Check out the full piece [here](https://medium.com/bankless-dao/yearn-finance-vaults-knockin-on-defi-s-door-f5e9f56f669a). - -# Update on yvBOOST - -Most may not realize, but 1 yvBOOST collects 2.2x more weekly Curve protocol fees than 1 veCRV. yvBOOST APR is also over 100%, sustained, with 1 yvBOOST currently being 32% cheaper than 1 CRV. Even after all this, there is over $5M still to be donated to yvBOOST holders - -Check out the donations [here](https://etherscan.io/address/0xdf270b48829e0f05211f3a33e5dc0a84f7247fbe). - -# Vaults at Yearn - -You can read a detailed description of the strategies for all of our active yVaults [here](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3). - -# Ecosystem News - -[Watch out for the upcoming Yearn x Pills collaboration](https://twitter.com/bantg/status/1482764820265029633) - -[Check out a reading list on how to write strategies for Yearn](https://twitter.com/sjkelleyjr/status/1481664381054177281) - -[Explore how one DAO used Coordinape to manage payroll](https://twitter.com/jkey_eth/status/1479642151730356226) - -[Support a Yearn alumni’s campaign for a seat in Congress](https://twitter.com/mattdwest/status/1481083902580166656) diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-54/image1.png b/Newsletters/_posts/Yearn-Finance-Newsletter-54/image1.png deleted file mode 100644 index 4e0828dbf..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-54/image1.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-54/image2.png b/Newsletters/_posts/Yearn-Finance-Newsletter-54/image2.png deleted file mode 100644 index 7f59d76ba..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-54/image2.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-54/image3.png b/Newsletters/_posts/Yearn-Finance-Newsletter-54/image3.png deleted file mode 100644 index b47f907bf..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-54/image3.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-54/image4.png b/Newsletters/_posts/Yearn-Finance-Newsletter-54/image4.png deleted file mode 100644 index e5d70f050..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-54/image4.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-54/image5.png b/Newsletters/_posts/Yearn-Finance-Newsletter-54/image5.png deleted file mode 100644 index b91a098a5..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-54/image5.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-54/image6.png b/Newsletters/_posts/Yearn-Finance-Newsletter-54/image6.png deleted file mode 100644 index eaf1a9eda..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-54/image6.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-55/2022-01-26-Yearn-Finance-Newsletter-55.md b/Newsletters/_posts/Yearn-Finance-Newsletter-55/2022-01-26-Yearn-Finance-Newsletter-55.md deleted file mode 100644 index 39cf14152..000000000 --- a/Newsletters/_posts/Yearn-Finance-Newsletter-55/2022-01-26-Yearn-Finance-Newsletter-55.md +++ /dev/null @@ -1,92 +0,0 @@ ---- -layout: post -title: "Yearn Finance Newsletter #55" -categories: [Newsletters] -image: ./Yearn-Finance-Newsletter-55/image1.png -author: Yearn -translator: -publish: true ---- - -# Yearn Finance Newsletter #55 - -### Week Ending January 23rd, 2021 - -![](image1.png) - -Welcome to the 55th edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If you’re interested in learning more about Yearn Finance, follow our official [Twitter](https://twitter.com/iearnfinance) and [Medium](https://medium.com/iearn) accounts. - -## Summary - -- State of the Fantom Vaults -- Fantom Ecosystem Spotlight - Yearn -- Yearn Web Updates -- Yearn Finance Explained -- Vaults at Yearn -- Ecosystem News - -# State of the Fantom Vaults - -![](image2.png) - -With the rise of Andre Cronje & Daniele Sesta's new project Solidly ve(3,3), vampire attacks have come to Fantom in order to qualify for the Solidly airdrop to the Top 20 projects by TVL on Fantom. - -To take advantage of this, you can tuck your holdings into a comfy [yearn.finance](https://yearn.finance/#/home) vault. Yearn fetches the best yield across 0xDAO, veDAO, Scream, Curve, Beets, Tarot, and beyond. Our Fantom Vaults have strategies for all of them, automatically rotate to the most profitable one and realize profits every 30 minutes so you won't be left holding the bag. We'll be by your side long after the vampwars become another page in a history manga. - -What's your move? Start depositing today at [yearn.finance/vaults](https://yearn.finance/vaults). - -# Fantom Ecosystem Spotlight - Yearn - -![](image3.png) - -Yearn contributor Tracheopteryx gives a brief overview of Yearn and our mission, with our focus being on everyday users, partners, and builders. - -The core products of Yearn are the Vaults, the Iron Bank, Labs, and the YFI/WOOFY tokens. YFI’s origins are further explored, and Tracheopteryx explains why Fantom is the first sidechain that Yearn has chosen to build on. - -The interview ends off by mentioning upcoming upgrades to the YFI token, such as buybacks being given to holders, xYFI, veYFI, and vault gauges. - -Check out the new full article [here](https://fantom.foundation/blog/fantom-ecosystem-spotlight-yearn/?__cf_chl_rt_tk=rdrT2KHoFbjTe1yyUOmIDA92AeTmrMPKtQW5yT18mwk-1643234302-0-gaNycGzNCH0). - -# Yearn Web Updates - -![](image4.png) - -This week's Yearn web update includes an APY hover tooltips added to UI and a Dust fix for vault withdrawals - -Coming soon are security improvements, with a detailed write-up, improved multi-chain UI/UX, and support for a new chain. - -Check out the full new update [here](https://yearnweb.substack.com/p/yearn-web-engineering-update-7d7?r=2y79e&utm_campaign=post&utm_medium=web). - -# Yearn Finance Explained - -![](image5.png) - -Yearn vaults are yielding IOU tokens built by strategists who undertake a difficult vetting process to ensure that Yearn users are receiving the best risk-adjusted yield in the crypto ecosystem. - -One previously used strategy at Yearn can be seen in the v1 Ethereum yVault: When a user deposits ETH the ETH is then lent at MakerDAO as collateral, which is used to borrow DAI that is then deposited into the DAI yVault. - -Some common questions users may have are “How/when does Yearn move the funds inside the vault and charge fees?” and “How does Yearn guarantee a strategy to always generate tokens instead of losing them?”. One of the key functions of a strategy is called “harvest”. When called, it triggers a rebalancing process where profit is realized and reinvested back into the strategy. Strategists also use a number of tools to monitor on-chain data to ensure strategy health. One of those tools is Yearn Watch, which presents a nice UI with many of key metrics live on the blockchain. - -Yearn and Keep3r additionally have a strong synergy in automating the tasks needed for vaults to maintain their performance. In order to build strategies, you will need a good understanding of Vyper (for yVaults) and Solidity (for strategies). The basic requirements to become a strategist are: knowledge about the blockchain ecosystem you’ll deploy in, which can be acquired by doing in-depth research of tokenomics and documentation for all tokens used in the strategy itself, Solidity programming knowledge similar to completing Level 4 on CryptoZombies, and knowing how to get around git, eth-brownie, and ganache. - -After understanding the basics of the above tools you are ready to copy our strategy template! The functions you should start changing in this template in order to build with your own first strategy are prepareReturn, adjustPosition, and liquidatePositon. You can find the strategy template [here](https://github.com/yearn/brownie-strategy-mix). - -Thank you to MarcoWorms for the writeup which can be found [here](https://medium.com/iearn/yearn-finance-explained-what-are-vaults-and-strategies-96970560432). - -# Vaults at Yearn - -You can read a detailed description of the strategies for all of our active yVaults [here](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3). - -# Ecosystem News - -[Deposit directly into Yearn vaults with the Ambire Wallet’s new integration](https://twitter.com/AmbireWallet/status/1483087593285820416) - -[Use Yearn vaults on Shapeshift DAO](https://twitter.com/ShapeShift_io/status/1484599573289086984) - -[New updates on Tesseract Finance’s collaboration with VESQ](https://twitter.com/tesseract_fi/status/1483484524143128578) - -[Yearn has become the number 1 aggregator by TVL on Fantom](https://twitter.com/vannny365/status/1484385291947368448) - -[Check out ApeFramework made with the help of Yearn contributors](https://twitter.com/ApeFramework) - -[Read this short overview of Yearn and its metrics](https://twitter.com/fuuurma/status/1484503576076599298) diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-55/image1.png b/Newsletters/_posts/Yearn-Finance-Newsletter-55/image1.png deleted file mode 100644 index 0e7430fb3..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-55/image1.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-55/image2.png b/Newsletters/_posts/Yearn-Finance-Newsletter-55/image2.png deleted file mode 100644 index 89f234e93..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-55/image2.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-55/image3.png b/Newsletters/_posts/Yearn-Finance-Newsletter-55/image3.png deleted file mode 100644 index 3c769cc8d..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-55/image3.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-55/image4.png b/Newsletters/_posts/Yearn-Finance-Newsletter-55/image4.png deleted file mode 100644 index e5d70f050..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-55/image4.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-55/image5.png b/Newsletters/_posts/Yearn-Finance-Newsletter-55/image5.png deleted file mode 100644 index 5db8014a9..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-55/image5.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-56/2022-02-02-Yearn-Finance-Newsletter-56.md b/Newsletters/_posts/Yearn-Finance-Newsletter-56/2022-02-02-Yearn-Finance-Newsletter-56.md deleted file mode 100644 index 078a59f6f..000000000 --- a/Newsletters/_posts/Yearn-Finance-Newsletter-56/2022-02-02-Yearn-Finance-Newsletter-56.md +++ /dev/null @@ -1,99 +0,0 @@ ---- -layout: post -title: "Yearn Finance Newsletter #56" -categories: [Newsletters] -image: ./Yearn-Finance-Newsletter-56/image1.png -author: Yearn -translator: -publish: true ---- - -# Yearn Finance Newsletter #56 - -### Week Ending February 2nd, 2022 - -![](image1.png) - -Welcome to the 56th edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If you’re interested in learning more about Yearn Finance, follow our official [Twitter](https://twitter.com/iearnfinance) and [Medium](https://medium.com/iearn) accounts. - -## Summary - -- Proposal to Upgrade Yearn’s Compensation System -- Yearn Has Purchased An Additional 127.9 YFI For $3.9M -- Yearn Users Eligible for NFT Badge From Project Galaxy -- Read the New Yearn Partner Tracker Audit -- Yearn Featured in ARK Invest Big Ideas Report -- Vaults at Yearn -- Ecosystem News - -# Proposal to Upgrade Yearn’s Compensation System - -![](image2.png) - -Want even more YFI buybacks, anon? What if Yearn's compensation system leveraged the new YFI tokenomics outlined in YIP-65? What if every time a Yearn team member gets paid they can allocate up to 100% to be used to buy and lock veYFI? - -After months of work, a group of 15 authors has presented a contributor buyout proposal, as well as new perks for people who choose to fully submit to Yearn. - -This proposal hopes to evolve Yearn to one single, flexible compensation plan, directly integrate veYFI tokenomics design, align all to YFI & incentivize token locking, and run autonomously. Included in the proposal is a history of compensation @ Yearn, the proposed new plan, steps to bridge to streamlined comp, and risks. - -We invite you to engage, give feedback, and participate in the non-binding signaling poll. Come build with us. - -Check out the proposal [here](https://gov.yearn.finance/t/proposal-streamlining-contributor-compensation/12247). - - - -# Yearn Has Purchased An Additional 127.9 YFI For $3.9M - - -In accordance with YIP-56: Buyback and Build Yearn, which was passed in January 2021, we are proud to announce that Yearn Treasury has purchased an additional 127.9 YFI for $3.9 million - -Yearn Treasury will periodically purchase additional YFI in the future using profits earned by the protocol until a new governance proposal is passed that alters this buyback policy. You can read about the BABY proposal here. - -For more information, a detailed breakdown of previous YFI purchases by Yearn Treasury can be found [here](https://gov.yearn.finance/t/yfi-buyback-auctions/10491/3). - -# Yearn Users Eligible for NFT Badge From Project Galaxy - -![](image3.png) - -With the help of our partners at Project Galaxy, we have brought the Yearn community another NFT badge, with special thanks to Coingecko. This badge is the second task of the Coingecko series and is called “Yield Farmer - DeFi 101” - -Users who have staked any amount on either Yearn, Alpha, or Badger will be rewarded with the “Yield Farmer - DeFi 101” badge. Keep an eye out for future rewards as well from us as well! - -Claim your future rewards at [galaxy.eco/coingecko ](https://twitter.com/ProjectGalaxyHQ/status/1487048124182921220?s=20&t=Z5Z2328-bsM-BNCp9d1KAA) and read the full thread [here](https://twitter.com/ProjectGalaxyHQ/status/1487048124182921220?s=20&t=Z5Z2328-bsM-BNCp9d1KAA). - - -# Read the New Yearn Partner Tracker Audit - -![](image4.png) - -Here at Yearn, we take security extremely seriously in hopes of giving our users the best risk-adjusted yields in DeFi. - -Yearn Finance implements a partner tracker that tracks the vault deposits done over an affiliate partner. The tracked amount is simply the sum of all funds deposited via the partner into a specific vault. No security issues were found, and minor issues like unused imports or constants were fixed. - -Chainsecurity has additionally commended us on our codebase having a high level of security as well. - -Check out the full audit [here](https://chainsecurity.com/security-audit/yearn-finance-partner-tracker/). - -# Yearn Featured in ARK Invest Big Ideas Report - -![](image5.png) - -In this report, Yearn is noted as a company excelling in its disruptive innovation and being able to create a novel protocol that can displace older technologies. We receive comparisons to multi-trillion dollar asset manager BlackRock, with Yearn shown to generate nearly $15M in revenue per employee and BlackRock generating nearly 10x less per employee. - -With the help of smart contracts, we are able to reduce counterparty risk and reduce dependencies on intermediaries, and create the most efficient asset manager in the world. And, thanks to new YIPs, the Yearn protocol will only grow stronger and scale bigger. - -The full report from ARK can be found [here](https://research.ark-invest.com/hubfs/1_Download_Files_ARK-Invest/White_Papers/ARK_BigIdeas2022.pdf?hsCtaTracking=217bbc93-a71a-4c2b-9959-0842b6fe301c%7C2653a4d0-af35-42f0-853a-c5f90f002abb). - -# Vaults at Yearn - -You can read a detailed description of the strategies for all of our active yVaults [here](https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3). - -# Ecosystem News - -[Check out this short overview of the newest Yearn proposal](https://twitter.com/0x7d54/status/1487252998023745540) - -[A vote for a YFI / ETH pool on Curve has received the highest ever quorum](https://twitter.com/CurveFinance/status/1487764860553371648) - -[Try out Yearn with low fees on Argent’s zkSync wallet](https://twitter.com/argentHQ/status/1487014855592849414) - -[Yearn has been integrated into insurance protocol solace.fi](https://twitter.com/SolaceFi/status/1486145688291487749?s=20&t=fTfbPYIAOA5xVim5BETQZQ) diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-56/image1.png b/Newsletters/_posts/Yearn-Finance-Newsletter-56/image1.png deleted file mode 100644 index 0e7430fb3..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-56/image1.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-56/image2.png b/Newsletters/_posts/Yearn-Finance-Newsletter-56/image2.png deleted file mode 100644 index 094bfd211..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-56/image2.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-56/image3.png b/Newsletters/_posts/Yearn-Finance-Newsletter-56/image3.png deleted file mode 100644 index 854eaab85..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-56/image3.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-56/image4.png b/Newsletters/_posts/Yearn-Finance-Newsletter-56/image4.png deleted file mode 100644 index ce8bae595..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-56/image4.png and /dev/null differ diff --git a/Newsletters/_posts/Yearn-Finance-Newsletter-56/image5.png b/Newsletters/_posts/Yearn-Finance-Newsletter-56/image5.png deleted file mode 100644 index 05b6bd690..000000000 Binary files a/Newsletters/_posts/Yearn-Finance-Newsletter-56/image5.png and /dev/null differ diff --git a/Podcasts/Podcasts.md b/Podcasts/Podcasts.md deleted file mode 100644 index dae6bc133..000000000 --- a/Podcasts/Podcasts.md +++ /dev/null @@ -1,10 +0,0 @@ -# List of Podcasts and Talks - -## Twitter Spaces -- https://www.spreaker.com/user/14928562/synthetix-yearn-governance - -## Talks -- https://www.youtube.com/watch?v=NVR3teJw0Y0 - -## Podcasts -- https://www.zeroknowledge.fm/192 \ No newline at end of file diff --git a/README.md b/README.md index 46b229e05..687e78113 100644 --- a/README.md +++ b/README.md @@ -2,42 +2,54 @@ This is a collection of communication, announcements, tweets, newsletters, and other articles about yearn. -## To Run - -### Locally - -- Follow the guide [here](https://jekyllrb.com/docs/) to install Jekyll. -- Run the Jekyll blog locally with `bundle exec jekyll serve --watch` - - With --watch whenever you save a change it will update the site but you will need to reload it on [http://localhost:4000](http://localhost:4000) - -### With Docker - -- Install Docker -- Run `docker-compose up` - -## Translations - -Under your [language] branch, you will now find both the site config files and assets, as well as the comms content (articles, newsletters, etc.). - -You can find content (or "posts") to be translated in the following folders (and their subfolders): - -- Announcements/\_posts -- Articles/\_posts -- Financials/\_posts -- Newsletters/\_posts -- Podcasts/\_posts -- Tweets/\_posts - -A "post" consists of two parts: the "header", or "front-matter" (necessary for the site to publish the post correctly.), and the "content". - -In order for a PR for a translation to be accepted and deployed, you need to make sure that: - -- the "content" is translated properly -- in the front-matter, the name of the "translator" (you) is added correctly -- in the front-matter, the "title" is translated -- in the front-matter, "publish:" is set to "true" - -Please, do not: - -- modify/translate the filename -- modify/translate anything else in the "front-matter" +## How to run +- Install `yarn`. +- Run `yarn` to install dependencies. +- Run `yarn run dev` to run the blog. +- Navigate to `http://localhost:3000` to access the blog. + +## How to contribute +- All the articles, announcements, newletters and tweets are stored in the `public/_posts` folder. +- All the translations should be `.md` files, with a name matching the locale you want to write the article in. The supported name files are : + > `en.md`, `fr.md`, `es.md`, `de.md`, `pt.md`, `el.md`, `tr.md`, `vi.md`, `zh.md`, `hi.md`, `ja.md`, `ru.md` + +- Once a new article is published, a new subfolder will be created with the slug of the article. This will be the URI to access this article: + > Article name: "What is a DAO" -> Slug should be `what-is-a-dao` -> URI will be `/article/what-is-a-dao` + +- The default article is the one named `en.md` +- Contributors should fork the repository and click the `Add new File` button on Github, copy the content of the `en.md` file and name the file `.md` +- Contributors could fill the `translator:` field with their name/tag in the header of the article to get credited on the website +- Contributors could translate the `title:` field in the header of the article + +## Relevant Structure +``` +yearn-comms/ +├── README.md +├── components/ +│ ├── icons/ # Set of SVG icons translated to React components. +│ └── xxxx.js # List of components used accross the blog. +├── contexts/ +│ ├── useLocalization.js # Context to handle the localization system. +│ └── useUI.js # Context to handle the light/dark theme. +├── hooks/ +│ └── useLocalStorage.js # Hook to store some state in the local storage. +├── localization/ +│ └── [locale].json # Set of localized strings. +├── pages/ +│ └── *.js # All the pages and system of the blog. Used by NextJS. +├── public/ +│ ├── _posts/ +│ │ ├── _announcements/* # Set of folders and subfolders containing the announcements. +│ │ ├── _articles/* # Set of folders and subfolders containing the articles. +│ │ ├── _financials/* # Set of folders and subfolders containing the financials. +│ │ ├── _newsletters/* # Set of folders and subfolders containing the newsletters. +│ │ ├── _podcasts/* # Set of folders and subfolders containing the podcasts. +│ │ └── _tweets/* # Set of folders and subfolders containing the tweets. +│ ├── favicons/ # Favicons used by the blog +│ ├── default.jpeg # default cover image used by the blog +│ └── og.png # Open Graph image used by the blog +├── utils/ +│ └── *.js # Set of useful functions used by the blog system. +└── style/Default.css # Default CSS used by the blog. + +``` diff --git a/Tweets/_posts/Bear market, bullish development/2021-07-22-Bear-market,-bullish-development.md b/Tweets/_posts/Bear market, bullish development/2021-07-22-Bear-market,-bullish-development.md deleted file mode 100644 index 14a3017f8..000000000 --- a/Tweets/_posts/Bear market, bullish development/2021-07-22-Bear-market,-bullish-development.md +++ /dev/null @@ -1,58 +0,0 @@ ---- -layout: post -title: "Bear market, bullish development" -categories: [ Tweets ] -image: ./Bear-market,-bullish-development/image1.jfif -author: Dudesahn -translator: -publish: true ---- - -original source: [twitter](https://twitter.com/dudesahn/status/1417898521685078016) - -##### 1 - -Bear market, bullish development. - -While http://yearn.finance has recently added nice features like -@zapper_fi -integration for vaults, it still is in need of some love. For those following closely, you may have noticed hints about a new website in the works. - -A thread 🧵 - -##### 2 - -“Wait!” you might say, “Isn’t http://yearn.fi Yearn’s new website?” - -Yes and no. - -[@AndreCronjeTech](https://twitter.com/AndreCronjeTech) is a mad scientist, and works at light speed while building out his prototypes. Consider http://yearn.fi his playground, built by himself and [@AntonNellCrypto](https://twitter.com/AntonNellCrypto). 🧪 - -##### 3 - -yearn.finance is maintained by a separate group of contributors, and we've been implementing a completely new backend (including an SDK with several APIs) that will power our new frontend, designed specifically with the SDK in mind. - -##### 4 - -http://yearn.finance and http://yearn.fi have different approaches, but the hope is that they can be mutually beneficial to one another. Handshake - -##### 5 - -yearn.fi is able to stand up new features very quickly, while the upcoming v3 http://yearn.finance will demonstrate the power of our reworked backend. Our goal? Abstracting away the complexity around integrating with yearn products for future partners. - -##### 6 - -Over the next few weeks, I'll go more in-depth on some of the tech we're building at yearn, why it matters, and what we're excited to work on next. And ultimately, we hope that this can make our work a little more accessible to everyone and a little less opaque. Left-pointing magnifying glass - -##### 7 - -Once the new site launches, this will include improving our GitHub issue curation for bugs, maintaining a bounty board for larger features we'd like to add, and in general reaching out a hand to anyone who'd like to contribute. - -##### 8 - -If you'd like to come build with us, we'd love to have you. Simple as that. - -Feel free to reach out to me on telegram -[@dudesahn](https://twitter.com/dudesahn) and we can get you started. - -![](image1.jfif) diff --git a/Tweets/_posts/Bear market, bullish development/image1.jfif b/Tweets/_posts/Bear market, bullish development/image1.jfif deleted file mode 100644 index e3b7f03b2..000000000 Binary files a/Tweets/_posts/Bear market, bullish development/image1.jfif and /dev/null differ diff --git a/Tweets/_posts/Bowswap.finance/2021-09-10-bowswapfinance.md b/Tweets/_posts/Bowswap.finance/2021-09-10-bowswapfinance.md deleted file mode 100644 index d0895fbb6..000000000 --- a/Tweets/_posts/Bowswap.finance/2021-09-10-bowswapfinance.md +++ /dev/null @@ -1,35 +0,0 @@ ---- -layout: post -title: "Bowswap.Finance" -categories: [ Tweets ] -image: ./bowswapfinance/image1.jpg -author: Facu -translator: -publish: true ---- - -original source: [twitter](https://twitter.com/fameal/status/1424857239505018880) - -##### 1 - -There's a new way to always have the best available yield. A simple way: - -🏹 https://bowswap.finance - -You can now swap between [@iearnfinance](https://twitter.com/iearnfinance) Vaults in one single transaction ⚡️ - -![](image1.jpg) - -##### 2 - -In this first version you can move between some Curve LP vaults that have the same metapool. - -##### 3 - -What's a metapool? It's a pool built on top of another pool. Simple, right? - -##### 4 - -You are going to be able to swap safely thanks to the slippage protection built-in 🛡️ - -Thanks [@pandabuild](https://twitter.com/pandabuild) [@MajorTom_eth](https://twitter.com/MajorTom_eth) and Ivan for building this yAmazing thing 🚀 diff --git a/Tweets/_posts/Bowswap.finance/image1.jpg b/Tweets/_posts/Bowswap.finance/image1.jpg deleted file mode 100644 index 030e43767..000000000 Binary files a/Tweets/_posts/Bowswap.finance/image1.jpg and /dev/null differ diff --git a/Tweets/_posts/Claim from old ygov/2021-07-10-Claim-from-old-ygov.md b/Tweets/_posts/Claim from old ygov/2021-07-10-Claim-from-old-ygov.md deleted file mode 100644 index 6910ef133..000000000 --- a/Tweets/_posts/Claim from old ygov/2021-07-10-Claim-from-old-ygov.md +++ /dev/null @@ -1,62 +0,0 @@ ---- -layout: post -title: "Claim from old yGov" -categories: [ Tweets ] -image: ./Claim-from-old-ygov/amount-in-old-ygov.jpg -author: Dudesahn -translator: -publish: true ---- - -original source: [twitter](https://twitter.com/dudesahn/status/1413567068583104512) - -##### 1 - -Just checked out the old [@iearnfinance](https://twitter.com/iearnfinance) staking contracts: - -~30 YFI unclaimed in the original staking pools -~8.5 YFI staked in v1 staking contract -~764 YFI still staked in v2 staking contract with $750k in claimable yCRV 😬 - -Almost $29m in staked LPs, YFI, and claimable rewards :point_down: - -![](image1.jfif) - -##### 2 - -Unsure if you might have some funds to claim? - -Head to https://etherscan.io, and enter one of the following addresses: - -• YFI Farming Pool 1: 0x0001FB050Fe7312791bF6475b96569D83F695C9f -• YFI Farming Pool 2: 0x033E52f513F9B98e129381c6708F9faA2DEE5db5 - -##### 3 - -• YFI Farming Pool 3: 0x3A22dF48d84957F907e67F4313E3D43179040d6E -• YFI Gov Staking v1: 0xb01419E74D8a2abb1bbAD82925b19c36C191A701 -• YFI Gov Staking v2: 0xBa37B002AbaFDd8E89a1995dA52740bbC013D992 - -Under Contract, click Read Contract, and put in your address under balanceOf 👀 - -![](image2.jfif) - -##### 4 - -If a value >0 shows up, then congrats, you have YFI and/or rewards to claim! :partying_face: - -To claim all of your staked assets and rewards, head over to Write Contract, connect your wallet, and call exit(). - -![](image3.jfif) - -##### 5 - -With your fresh YFI or yCRV in hand, you can head to http://yearn.finance/vaults and deposit them into one of our vaults. Alternatively, head over to our good friends at @CreamdotFinance 🍦 and borrow against those assets, or even use @MIM_Spell 🧙‍♂️ to borrow against your new yvYFI. - -##### 6 - -Also worth adding here: just because you don't have any funds still staked doesn't mean you can't claim rewards! Similar to balanceOf(), you can check for claimable rewards under Read Contract with earned(), and then claim any available under Write Contract using getReward()! 🤑 - -![](image4.png)
- -![](image5.png) diff --git a/Tweets/_posts/Claim from old ygov/amount-in-old-ygov.jpg b/Tweets/_posts/Claim from old ygov/amount-in-old-ygov.jpg deleted file mode 100644 index 47fc7c573..000000000 Binary files a/Tweets/_posts/Claim from old ygov/amount-in-old-ygov.jpg and /dev/null differ diff --git a/Tweets/_posts/Claim from old ygov/image1.jfif b/Tweets/_posts/Claim from old ygov/image1.jfif deleted file mode 100644 index a5f10f25a..000000000 Binary files a/Tweets/_posts/Claim from old ygov/image1.jfif and /dev/null differ diff --git a/Tweets/_posts/Claim from old ygov/image2.jfif b/Tweets/_posts/Claim from old ygov/image2.jfif deleted file mode 100644 index a3c390f32..000000000 Binary files a/Tweets/_posts/Claim from old ygov/image2.jfif and /dev/null differ diff --git a/Tweets/_posts/Claim from old ygov/image3.jfif b/Tweets/_posts/Claim from old ygov/image3.jfif deleted file mode 100644 index c925c33d6..000000000 Binary files a/Tweets/_posts/Claim from old ygov/image3.jfif and /dev/null differ diff --git a/Tweets/_posts/Risk, Tooling, & Insight/2021-08-12-Risk,-Tooling,-&-Insight.md b/Tweets/_posts/Risk, Tooling, & Insight/2021-08-12-Risk,-Tooling,-&-Insight.md deleted file mode 100644 index 625e60ea0..000000000 --- a/Tweets/_posts/Risk, Tooling, & Insight/2021-08-12-Risk,-Tooling,-&-Insight.md +++ /dev/null @@ -1,100 +0,0 @@ ---- -layout: post -title: "Risk, Tooling, & Insight" -categories: [ Tweets ] -image: ./Risk,-Tooling,-&-Insight/stormblessed.jpg -author: Storm Blessed -translator: -publish: true ---- - -original source: [twitter](https://twitter.com/storming0x/status/1436851219864059906) - -##### 1 -Doing some weekend coding and decided to do a tweet storm about [@iearnfinance](https://twitter.com/iearnfinance) risk, tooling and insight behind the scenes. - -🧵 👇 - -##### 2 -If you don't know about [yearn.finance](http://yearn.finance), you can think of it as the "yield function protocol". Yearn top product are the Vaults. Put money into the vaults and somehow the next day that money grows and keeps growing constantly. This is an over simplification ofc. - -##### 3 -This is made possible by a team of smart folks that code strategies for the vault to allocate money with the goal to earn returns. The strategies are smart contracts that need to be deploy and updated often. These smart contracts are flexible and dynamic. Example allocations: - -![3_1436841383378120712](3_1436841383378120712.jpg) - -##### 4 -Given the way yearn protocol works, it needs a very quick turnaround to launch new contracts and strategies quickly, this has implications in security. One of the main concerns at yearn is risk from all perspectives. We are at the EOD in the risk business. How to balance this? - -##### 5 -We need to come up with a risk framework. To get the picture. This is the number of vaults + strategies deployed currently. There is no way around the complexity of this system, many pieces need to fall in place to make this work. - -![3_1436842206359285762](3_1436842206359285762.jpg) - -##### 6 -In my previous life I had a background in aeronautics systems. I think many lessons can be taken from Aviation which is also in the risk business. The complexity like in finance is high. Still you don't think twice booking a flight for your next trip. - -##### 7 -Every day millions of flights take place, and many flights have incidents. An incident doesn't lead to an accident = plane crashing. You need many incidents concurrently to happen for a plane to crash. This in current airline operations is extremely unlikely. - -##### 8 -But every time there is an incident the aviation process and systems, require that you correct and fix the root cause. We have implemented a similar process in yearn, every war room doesn't lead to a loss of funds, but we are required to learn from it and improve. - -##### 9 -This process was implemented early this year after a really bad month of incidents and war rooms. And several initiatives were started and implemented to automate and remove human factors as much as possible from our daily decisions. - -[twitter.com/storming0x/sta…](https://twitter.com/storming0x/status/1395452522840608768?s=20) - -> ![storming0x](storming0x-881012267675820034.jpg) -> Storm Blessed 0x ([@storming0x](https://twitter.com/storming0x)) - -> We just got out of a 16 + hour plus war room dealing with a situation in yearn. Extremely tired but grateful to have the chance to be part of these awesome team. - -Crisis resolved and no funds lost. Lots of key learnings and thing that will make [@iearnfinance](https://twitter.com/iearnfinance) stronger. Need 😴 - -##### 10 -This ofc still can be improved, and is a constant process, but in yearn what doesn't kill us for sure makes us stronger. It's part of my job to make this process ingrained in Yearn's DNA. - -[github.com/yearn/yearn-de…](https://github.com/yearn/yearn-devdocs/blob/master/docs/developers/v2/EMERGENCY.md) - -##### 11 -We had war rooms were code had a bug and made incorrect accounting that lead to war rooms and issues. -Fixes: --We added simulation bots to catch issues before they happen on chain. --On chain healthchecks that revert a trx if the asserts are not met. - -[github.com/yearn/yearn-de…](https://github.com/yearn/yearn-devdocs/blob/master/docs/developers/v2/DEPLOYMENT.md#health-checks) - -##### 12 -The simulation bot is tied to alerting on our telegram and send us with time ahead any issue. We recently had a war room completely prevented by a simulation, the strategy was winded down without having to correct anything onchain. We moved from corrective to preventive action. - -![3_1436848158034644993](3_1436848158034644993.jpg) - -![3_1436848166805000195](3_1436848166805000195.jpg) - -![3_1436848196399996929](3_1436848196399996929.jpg) - -##### 13 -[yearn.watch](http://yearn.watch) is the site I built to track strategies and vaults state. It uses a great piece on infra built internally by the yearn team to fetch data. We have specialized multicall contracts to be able to get this data efficiently to make decisions. - -![3_1436848846378729473](3_1436848846378729473.jpg) - -![3_1436848859322273796](3_1436848859322273796.jpg) - -##### 14 -We also have a risk dashboard that we came up to score each strategy to assess at any point in time our risk. This is populated by our internal infra and adjusted automatically by onchain changes. -(Sample data below) - -![3_1436849527198085126](3_1436849527198085126.jpg) - -![3_1436849597129715717](3_1436849597129715717.jpg) - -![3_1436849615987351553](3_1436849615987351553.jpg) - -##### 15 -This is an internal risk tool that has been added very recently, is still to early to made public since we are tweaking our data and models to try come up with an objective scoring given our internal process. Once we collected more data on this I'm happy to share more on it. - -##### 16 -We are far from solving smart contract risk and security, but the only thing we can do is keep trying. We hope this behind the scenes view can inform other projects in the ecosystem to help them or also come up with other ideas that we can all benefit from. - -Thanks for reading! diff --git a/Tweets/_posts/Risk, Tooling, & Insight/3_1436841383378120712.jpg b/Tweets/_posts/Risk, Tooling, & Insight/3_1436841383378120712.jpg deleted file mode 100644 index f9031249b..000000000 Binary files a/Tweets/_posts/Risk, Tooling, & Insight/3_1436841383378120712.jpg and /dev/null differ diff --git a/Tweets/_posts/Risk, Tooling, & Insight/3_1436848166805000195.jpg b/Tweets/_posts/Risk, Tooling, & Insight/3_1436848166805000195.jpg deleted file mode 100644 index 060271bfc..000000000 Binary files a/Tweets/_posts/Risk, Tooling, & Insight/3_1436848166805000195.jpg and /dev/null differ diff --git a/Tweets/_posts/Risk, Tooling, & Insight/3_1436848196399996929.jpg b/Tweets/_posts/Risk, Tooling, & Insight/3_1436848196399996929.jpg deleted file mode 100644 index 23e7c4746..000000000 Binary files a/Tweets/_posts/Risk, Tooling, & Insight/3_1436848196399996929.jpg and /dev/null differ diff --git a/Tweets/_posts/Risk, Tooling, & Insight/3_1436848846378729473.jpg b/Tweets/_posts/Risk, Tooling, & Insight/3_1436848846378729473.jpg deleted file mode 100644 index 41be18674..000000000 Binary files a/Tweets/_posts/Risk, Tooling, & Insight/3_1436848846378729473.jpg and /dev/null differ diff --git a/Tweets/_posts/Risk, Tooling, & Insight/3_1436848859322273796.jpg b/Tweets/_posts/Risk, Tooling, & Insight/3_1436848859322273796.jpg deleted file mode 100644 index 5a98c888f..000000000 Binary files a/Tweets/_posts/Risk, Tooling, & Insight/3_1436848859322273796.jpg and /dev/null differ diff --git a/Tweets/_posts/Risk, Tooling, & Insight/3_1436849527198085126.jpg b/Tweets/_posts/Risk, Tooling, & Insight/3_1436849527198085126.jpg deleted file mode 100644 index 3d8566576..000000000 Binary files a/Tweets/_posts/Risk, Tooling, & Insight/3_1436849527198085126.jpg and /dev/null differ diff --git a/Tweets/_posts/Risk, Tooling, & Insight/stormblessed.jpg b/Tweets/_posts/Risk, Tooling, & Insight/stormblessed.jpg deleted file mode 100644 index 2ea8b2d05..000000000 Binary files a/Tweets/_posts/Risk, Tooling, & Insight/stormblessed.jpg and /dev/null differ diff --git a/Tweets/_posts/Transparency Summary/2021-10-05-TransparencySummary.md b/Tweets/_posts/Transparency Summary/2021-10-05-TransparencySummary.md deleted file mode 100644 index 4eb1690f2..000000000 --- a/Tweets/_posts/Transparency Summary/2021-10-05-TransparencySummary.md +++ /dev/null @@ -1,96 +0,0 @@ ---- -layout: post -title: "Transparency Summary" -categories: [ Tweets ] -image: ./TransparencySummary/image1.jpg -author: Yearn -translator: -publish: true ---- -original source: [twitter](https://twitter.com/iearnfinance/status/1445143482830446600) - -##### 1 - -This is why crypto will change the world. - -It kills shadows. - -Yearn’s super coders are 🌞. - -Everything’s on-chain with hooman-readable labels. - -Transparency verified ✅ - -Let’s take a look at just how transparent Yearn is 👇 - -![](image1.jpg) - -##### 2 - -See Yearn’s balance sheets, EBITDA, income and more EVERY quarter: - -https://github.com/yearn/yearn-pm/blob/master/financials/reports/2021Q2-yearn-quarterly-report.pdf - -![](image2.jpg) - -![](image3.jpg) - -![](image4.jpg) - -![](image5.jpg) - -##### 3 - -In fact, you can track every single Yearn-related transaction in real time at [yfistats.com](http://www.yfistats.com/) - -![](image6.jpg) - -##### 4 - -There, you’ll find sortable: - -🔵 Transaction records - -🔵 Protocol income - -🔵 Protocol expenses - -🔵 Income statements - -🔵 EOM balances - -🔵 Charts - -🔵 Revenue projects - -🔵 $YFI buybacks - -& much more. - -All of it is meticulously labelled by the yBudget team with 💙 and freely accessible to anyone in the 🌍 - -##### 5 - -Don’t like websites? You can even track our income with custom “harvest bots” in Discord and Telegram: - -🔵 Discord: [discord.com/invite/6PNv2nF](https://discord.com/invite/6PNv2nF) - -🔵 Telegram: [t.me/yfi_harvest_tracker](https://t.me/yfi_harvest_tracker) - -![](image7.jpg) - -##### 6 - -Want to join one of the most open and transparent platforms in history? - -Good news: we show you exactly how you can contribute with a list of tasks just waiting for new contributors: [contribute.yearn.rocks](https://contribute.yearn.rocks/) - -![](image8.jpg) - -##### 7 - -The future is here, it’s just not evenly distributed. - -Come live it with us at Yearn 💙 - -![](image9.jpg) diff --git a/Tweets/_posts/Transparency Summary/image2.jpg b/Tweets/_posts/Transparency Summary/image2.jpg deleted file mode 100644 index 6be1bde36..000000000 Binary files a/Tweets/_posts/Transparency Summary/image2.jpg and /dev/null differ diff --git a/Tweets/_posts/Transparency Summary/image3.jpg b/Tweets/_posts/Transparency Summary/image3.jpg deleted file mode 100644 index 66bfccf2e..000000000 Binary files a/Tweets/_posts/Transparency Summary/image3.jpg and /dev/null differ diff --git a/Tweets/_posts/Transparency Summary/image4.jpg b/Tweets/_posts/Transparency Summary/image4.jpg deleted file mode 100644 index f74a9ff95..000000000 Binary files a/Tweets/_posts/Transparency Summary/image4.jpg and /dev/null differ diff --git a/Tweets/_posts/Transparency Summary/image5.jpg b/Tweets/_posts/Transparency Summary/image5.jpg deleted file mode 100644 index b9b0d92d3..000000000 Binary files a/Tweets/_posts/Transparency Summary/image5.jpg and /dev/null differ diff --git a/Tweets/_posts/Transparency Summary/image6.jpg b/Tweets/_posts/Transparency Summary/image6.jpg deleted file mode 100644 index 745bde6f8..000000000 Binary files a/Tweets/_posts/Transparency Summary/image6.jpg and /dev/null differ diff --git a/Tweets/_posts/Transparency Summary/image7.jpg b/Tweets/_posts/Transparency Summary/image7.jpg deleted file mode 100644 index edb90f29a..000000000 Binary files a/Tweets/_posts/Transparency Summary/image7.jpg and /dev/null differ diff --git a/Tweets/_posts/Transparency Summary/image8.jpg b/Tweets/_posts/Transparency Summary/image8.jpg deleted file mode 100644 index cc5e3bb91..000000000 Binary files a/Tweets/_posts/Transparency Summary/image8.jpg and /dev/null differ diff --git a/Tweets/_posts/Transparency Summary/image9.jpg b/Tweets/_posts/Transparency Summary/image9.jpg deleted file mode 100644 index a9174b258..000000000 Binary files a/Tweets/_posts/Transparency Summary/image9.jpg and /dev/null differ diff --git a/Tweets/_posts/What can you do in a DAO/2021-12-21-What-can-you-do-in-a-DAO.md b/Tweets/_posts/What can you do in a DAO/2021-12-21-What-can-you-do-in-a-DAO.md deleted file mode 100644 index f9ca54c1e..000000000 --- a/Tweets/_posts/What can you do in a DAO/2021-12-21-What-can-you-do-in-a-DAO.md +++ /dev/null @@ -1,158 +0,0 @@ ---- -layout: post -title: "What can you do in a DAO?" -categories: [Tweets] -image: ./What-can-you-do-in-a-DAO/3_1473291057580367879.jpg -author: Tracheopteryx -translator: -publish: true ---- - -original source: [twitter](https://twitter.com/tracheopteryx/status/1473314953713045507) - ---- - -##### 1 - -Making the jump to working for a DAO can be a challenge. - -I've helped dozens of newbies into the space over these past 18 months and the thing that is often most difficult for them is this simple question: - -"What should I do?" 🤔 - -Here's a thread on how to figure that out: - -![3_1473291057580367879](3_1473291057580367879.jpg) - ---- - -##### 2 - -In a real DAO work happens differently. - -It's like the difference between a robot and an amoeba — DAOs are like bowls of amino acids waiting for some ribosome to come and stack them into proteins, not like a carefully designed servomotor awaiting its preset electrical impulse. - -![3_1473314358570766343](3_1473314358570766343.jpg) - ---- - -##### 3 - -And there are no college courses on how to be a DAO ribosome (yet). - -You are in the soup and you need to figure out what to do with very little guidance. It's really like what Yoda said. - -We've suffered hundreds of years of gaslighting to construct the idea of a "work ethic" ...
- - - ---- - -##### 4 - -... in order to numb our instincts, tricking us into thinking our lives are best spent as wage slaves. - -Most of us have been so divorced from the connection to our own internal needs and desires that it's almost impossible to answer the question of "what do I really want?" - -![3_1473305925603803143](3_1473305925603803143.jpg) - ---- - -##### 5 - -And, strange as it may seem, this is the question that DAOs need us to answer. - -Because, like biology, DAOs rely on each of us following our own wisdom. Each component of a DAO needs to be able to decide for itself what to do though self-knowledge & realtime sensing of the whole. - ---- - -##### 6 - -This is not a "flat organization" that concept doesn't work. Hierarchy is an essential feature of our reality (the sun is bigger than the earth, get over it). - -What is important is fluid hierarchy where the leader is the one who knows what to do next. (And process & structure.) - ---- - -##### 7 - -Getting back to what to do, I created this diagram based on the Japanese concept of Ikigai, adapting it to be DAO-centric, though most of it is the same. - -I'll walk through each circle. - - - - -
- ---- - -##### 8 - -👉 What the 𝔻𝔸𝕆 ℕ𝔼𝔼𝔻𝕊 - -Anything in this circle is valuable for the DAO. Check github issues, bounty boards, notion pages, discord channels, or whatever other resources the DAO has for surfacing needed work. - -Find some work that calls to you, and do it. - ---- - -##### 9 - -👉 What You Can Be ℙ𝔸𝕀𝔻 𝔽𝕆ℝ - -Not all contributions are of equal value. If you can earn $1,000/hr as a logo designer then in general that kind of work is going to be of greater service to the DAO than something you can't get paid much for. - -But that isn't the only factor. - ---- - -##### 10 - -👉 What You 𝕃𝕆𝕍𝔼 - -Maybe you get paid bank for logos, but if you hate doing them, chances are they won't actually be that good and further, you won't stick around long. - -Life is too short not to do what you love. And work done with love is always stronger. - ---- - -##### 11 - -👉 What You Are 𝔹𝔼𝕊𝕋 𝔸𝕋 - -One of the great joys in the world is to work with brilliant colleagues. Imagine what it would be like if we each did what we were best at? - -(I don't have to imagine, I contribute at [@iearnfinance](https://twitter.com/iearnfinance) and [@coordinape](https://twitter.com/coordinape).) - ---- - -##### 12 - -We need to start thinking from the DAO's perspective. - -What work will be of most value to the DAO? - -How can I be of most service? - -Everything in the "what the DAO needs" circle is valuable, but it's the red areas that will be most valuable. And the middle is where magic happens. - ---- - -##### 13 - -We do not need to make any more FAANG behemoths. The world honestly can't survive that. DAOs can be something different. - -Working can be a /joy/ not a burden. Compensation can be a gift, not a competition. And maybe 'corporations' could feel like forests, not industrial lots. - -![3_1473312850865278988](3_1473312850865278988.jpg) - ---- - -##### 14 - -It's not so hard to imagine if each of us only did the work that we loved, were best at, could get paid for, and that our DAOs needed. - -If it's not that, why do it? - -/end diff --git a/Tweets/_posts/What can you do in a DAO/3_1473291057580367879.jpg b/Tweets/_posts/What can you do in a DAO/3_1473291057580367879.jpg deleted file mode 100644 index c91d9c616..000000000 Binary files a/Tweets/_posts/What can you do in a DAO/3_1473291057580367879.jpg and /dev/null differ diff --git a/Tweets/_posts/What can you do in a DAO/3_1473304133268643850.jpg b/Tweets/_posts/What can you do in a DAO/3_1473304133268643850.jpg deleted file mode 100644 index ba25953f1..000000000 Binary files a/Tweets/_posts/What can you do in a DAO/3_1473304133268643850.jpg and /dev/null differ diff --git a/Tweets/_posts/What can you do in a DAO/3_1473304319655043081.jpg b/Tweets/_posts/What can you do in a DAO/3_1473304319655043081.jpg deleted file mode 100644 index c91d9c616..000000000 Binary files a/Tweets/_posts/What can you do in a DAO/3_1473304319655043081.jpg and /dev/null differ diff --git a/Tweets/_posts/What can you do in a DAO/3_1473312850865278988.jpg b/Tweets/_posts/What can you do in a DAO/3_1473312850865278988.jpg deleted file mode 100644 index 0d5e19c3c..000000000 Binary files a/Tweets/_posts/What can you do in a DAO/3_1473312850865278988.jpg and /dev/null differ diff --git a/Tweets/_posts/What can you do in a DAO/3_1473314358570766343.jpg b/Tweets/_posts/What can you do in a DAO/3_1473314358570766343.jpg deleted file mode 100644 index 3a12f4734..000000000 Binary files a/Tweets/_posts/What can you do in a DAO/3_1473314358570766343.jpg and /dev/null differ diff --git a/Tweets/_posts/What is Yearn/2021-10-09-What-is-Yearn.md b/Tweets/_posts/What is Yearn/2021-10-09-What-is-Yearn.md deleted file mode 100644 index fcb095419..000000000 --- a/Tweets/_posts/What is Yearn/2021-10-09-What-is-Yearn.md +++ /dev/null @@ -1,98 +0,0 @@ ---- -layout: post -title: "What is Yearn" -categories: [ Tweets ] -image: ./What-is-Yearn/3_1446243220468293632.jpg -author: Wot_Is_Goin_On -translator: -publish: true ---- - -original source: [twitter](https://twitter.com/Wot_Is_Goin_On/status/1446540007292952579) - -##### 1 -People had difficulty understanding ETH in mid-2020. It wasn’t clear what the use case would be, TVL was at $8bn and hadn’t grown much in 18 months. Even out of those who believed in Ethereum, there was scepticism around how value would accrue to ETH. - -##### 2 -Fast forward to today and it’s clear there’s a lot that can be built on Ethereum (DeFi, NFTs and gaming), TVL has sky-rocketed to over $100bn and throw in a token burn mechanism and people understand how value accrues to the native token. - -##### 3 -In some ways the perception of Yearn today is similar to that of ETH in mid-2020, at least in terms of uncertainty over what will be built on Yearn, its future growth and value accrual to YFI. Even Yearn’s OGs are getting restless. - -![3_1446534086277861380](3_1446534086277861380.jpg) - -##### 4 -Yearn’s TVL has reached an all-time high of over $5bn TVL, achieving this without offering incentives. This is higher than the much-hyped Avalanche and Polygon that trade at multiples compared to YFI. - -##### 5 -Its vaults have been integrated into Badger, Enzyme Finance, Argent Wallet, [Crypto.com](http://Crypto.com) and the MEW Wallet app on Android. Making vaults widely accessible is a great start, but Yearn is waiting for its killer dapp. - -[medium.com/myetherwallet/…](https://medium.com/myetherwallet/introducing-yearn-vaults-on-mew-wallet-app-android-274818aa830e) - -##### 6 -The first dapp built on Yearn to get product market fit was Alchemix’s self-repaying loans. The sudden jumps in yvDai in early 2021 shown below happened as Yearn had to quickly increase the limits of its most popular vault to keep up with the demand. - -![3_1446534659123335169](3_1446534659123335169.jpg) - -##### 7 -[@PoolTogether\_](https://twitter.com/PoolTogether_)’s no-loss lottery also opted to earn yield with Yearn. In the UK there’s over £100bn ($140bn) in premium bonds where the lottery distributes a depressing 1% annual yield. - -##### 8 -If [@element_fi](https://twitter.com/element_fi) can crack fixed income, with Yearn’s vaults (the “yv” tokens) in the background, then we’re talking a total addressable market in the trillions. - -![3_1446535031292313608](3_1446535031292313608.jpg) - -##### 9 -[@ribbonfinance](https://twitter.com/ribbonfinance)’s put-selling vaults leverage DeFi’s composability so that the USDC is earning a yield with Yearn in the background. - -![3_1446535099063885835](3_1446535099063885835.jpg) - -##### 10 -[@longlongfinance](https://twitter.com/longlongfinance) is also available to diversify your principal and yield into different assets. - -##### 11 -Despite all the interesting protocols so far, the protocols that bring the greatest adoption to Yearn probably haven’t been built yet but there’s plenty of teams working on it. - -![3_1446535242404274176](3_1446535242404274176.jpg) - -##### 12 -With Yearn going multi-chain there’s potential for different types of dapps on each chain. [twitter.com/iearnfinance/s…](https://twitter.com/iearnfinance/status/1446243257336229912?s=20) - -> ![iearnfinance](earnfinance-1223779978459770880.jpg) -> yearn.finance ([@iearnfinance](https://twitter.com/iearnfinance)) - -> The Realm of Multichain beckons. - -And Yearn has heeded the call. 📯 - -Today, we go multichain with the launch of Iron Bank Fantom and the first Fantom vaults on [beta.yearn.finance](http://beta.yearn.finance)🧵 - -> ![3_1446243220468293632](3_1446243220468293632.jpg) - -##### 13 -The people calling for the death of DeFi on Ethereum may need to zoom out. Yearn’s Q3 2021 TVL was $4.6bn, nearly 300% higher than 12 months before. Q3 2021 annualised revenue was over $60m, up nearly 400% over the year. - -![3_1446536804035960832](3_1446536804035960832.jpg) - -##### 14 -The criticism around lack of value accrual is one that can be easily fixed. However, the challenge is to design tokenomics that incentivize growth and sustainability of the protocol in terms of contributors and TVL, as well as value accrual. - -##### 15 -It took Ethereum 5+ years to implement EIP-1559, and 2022 brings the migration to PoS that will reward ETH stakers instead of miners. And when cartoon animals are incentivized to figure things out, things usually get figured out. - -[gov.yearn.finance/t/call-for-ide…](https://gov.yearn.finance/t/call-for-ideas-yfi-tokenomics-revamp/11573/5) - -##### 16 -The sustainability of liquidity mining and competition on fees, and the pace of innovation in DeFi, mean that nothing is guaranteed of course! - -##### 17 -But these worries can be brushed aside safe in the knowledge that this guy deployed Yearn’s first smart contract. - -[twitter.com/CFantom777/sta…](https://twitter.com/CFantom777/status/1446366012421468162?s=20) - -> ![CFantom777](CFantom777-1387931745832497152.jpg) -> Fantom_Memes ([@CFantom777](https://twitter.com/CFantom777)) - -> Damn it feels good to be a fantie - -[$FTM](https://twitter.com/search?q=%24FTM) [#Fantom](https://twitter.com/hashtag/Fantom) [#cryptocurrency](https://twitter.com/hashtag/cryptocurrency) [#andrecronje](https://twitter.com/hashtag/andrecronje) [pic.twitter.com/B1tTP48nqN](https://twitter.com/CFantom777/status/1446366012421468162/video/1) diff --git a/Tweets/_posts/What is Yearn/3_1446243220468293632.jpg b/Tweets/_posts/What is Yearn/3_1446243220468293632.jpg deleted file mode 100644 index 197a60d30..000000000 Binary files a/Tweets/_posts/What is Yearn/3_1446243220468293632.jpg and /dev/null differ diff --git a/Tweets/_posts/What is a DAO/2021-06-30-What-is-a-DAO.md b/Tweets/_posts/What is a DAO/2021-06-30-What-is-a-DAO.md deleted file mode 100644 index a3bf450ca..000000000 --- a/Tweets/_posts/What is a DAO/2021-06-30-What-is-a-DAO.md +++ /dev/null @@ -1,115 +0,0 @@ ---- -layout: post -title: "What is a DAO" -categories: [ Tweets ] -image: ./What-is-a-DAO/1.jpg -author: Tracheopteryx -translator: -publish: true ---- - -original source: [twitter](https://twitter.com/tracheopteryx/status/1410243752434753547) - -##### 1 -Really enjoyed talking to [@TrustlessState](https://twitter.com/TrustlessState) on the [@BanklessHQ](https://twitter.com/BanklessHQ) podcast about [@coordinape](https://twitter.com/coordinape) with [@fifthworldzach](https://twitter.com/fifthworldzach) - -[youtube](https://www.youtube.com/watch?v=JM0zF3AzFno) - -We explained what's different about Coordinape's mechanics & vision, and went pretty deep into some big ideas. - -So, here's a thread on DAOs - -##### 2 -What is a DAO? There are many answers to this. It's an emergent phenomena whose story is actively being written. My answer may be a bit different from others you'll read.... - -✨ 𝔻𝔸𝕆𝕤 𝕒𝕣𝕖 𝕒 𝕟𝕖𝕨 𝕗𝕠𝕣𝕞 𝕠𝕗 𝕝𝕚𝕗𝕖 🧫 - -I'll explain. - -##### 3 -jfc this is hard to explain.... Ok, let's start with Ken Wilber. Wilber is many things, primarily he's a master map maker. He studied the work of philosophers, scientists, and gurus from all over the world with the driving thesis that "everybody is right." - -![](1.jpg) - -##### 4 -Over decades he fit together all these disparate pieces of wisdom into a map of human potential called Integral Theory. Central to this understanding, is the notion of Quadrants. Each quadrant is irreducible to any other quadrant. Each a different, inherently valid frame. - -![](2.jpg) - -##### 5 -The individual interior experience of the color red is irreducible to the individual exterior concept of 650nm light. Both arise like different sides of the same coin. So where the fuck is this going, right? Here Right pointing backhand index DAOs are life forms emerging in the collective quadrants. - -##### 6 -“Ever since the Cognitive Revolution, Sapiens have been living in a dual reality. On the one hand, the objective reality of rivers, trees and lions; and on the other hand, the imagined reality of gods, nations and corporations.” -- Sapiens by Yuval Harari - -##### 7 -Harari writes beautifully about the power of collective fiction. Fiction has scaled human endeavor. Family, tribe, religion, nation, incorporation—the emergence of each new fiction transcends and includes the former, allowing us to coordinate in greater and greater number. - -![](3.jpg) - -##### 8 -When life first emerged on earth, we were simple creatures. Single-celled. Floating. Eating each other. Then one little guy ate another little guy . . . but this one hung around; didn't get digested. From prokaryote to eukaryote. 💥 Multicellular life. Everything changed. - -![](4.jpg) - -##### 9 -The world is about to take an extraordinary step. You see, the sea of the collective has been like the sea of the old earth. The forces binding the collective's cell-analog (memes?) haven't been strong enough to make the step to eukaryote. But: we have blockchain now. - -##### 10 -Blockchain is a new physics. A physics of /the collective space/. No one has elucidated this reality more profoundly than my co-instigator at Coordinape, [@Zemm_NFT](https://twitter.com/Zemm_NFT), speaking about NFTs in [@DirSchmidt](https://twitter.com/DirSchmidt)'s banger "The Greatest NFT Film Ever Made." - -https://youtube.com/watch?v=cY9lM73ie0Q&t=1575s - -![](5.jpg) - -##### 11 -Blockchain makes fiction real. As real as dirt. And from this dirt, new fauna blooms. [@Coordinape](https://twitter.com/coordinape) is a flower. Its petals, an invitation. It grows in the canopy of the dark forest—where trust thrives. The kind of trust those who have worked on creative teams know so well. - -##### 12 -Watch the bankless video or go to http://coordinape.com to learn more, but briefly: Coordinape allows protocols to grow their contributor network with an NFT badge system & distribute grants via a novel, decentralized, community-led mechanism inspired by gift economies. - -##### 13 -Because the kinds of tools used to support collective intelligence in an adversarial environment are ill-suited for a /collaborative/ environment. The bee & the flower do not need contracts. - -![](6.jpg) - -##### 14 -We needed this kind of tool at [@iearnfinance](https://twitter.com/iearnfinance). It didn't exist, so we built Coordinape. It's one piece of a bigger puzzle. Gov 2.0, written by [@lex_node](https://twitter.com/lex_node) and I, is another. Because, like biology, DAOs are not monolithic. The decision space is vast. - -https://gov.yearn.finance/t/yip-61-governance-2-0/10460 - -##### 15 -Gov 2.0, or constrained delegation, starts by understanding decisions. A DAO needs to make hundreds of different decisions. Gov 2.0 deals with on-chain, gated decisions. But beyond these axes we also have to consider: timescale, impact, security, community, domain... - -![](7.png) - -##### 16 -We had to invent all these kinds of tools at Yearn out of sheer need. We were born from chaos. There is no foundation, no company with processes to fall back on. [@AndreCronjeTech](https://twitter.com/AndreCronjeTech) gave away $1B in $YFI and the inflaton field from that event formed our world. Bang. - -##### 17 -Not every DAO works the same way. Just like corporations, or like people, they have different worldviews. Let's go back to Wilber. The quadrants are just one part of his masterwork. He also studied Piaget, Clare Graves, Jean Gebser, Aurobindo, and many others. - -##### 18 -Wilber took the maps of human development pioneered by these scholars and combined them into a theory of levels and lines. Each of us has multiple intelligences that develop at different rates. And so do organizations. - -![](8.jpg) - -##### 19 -[@fred_laloux](https://twitter.com/fred_laloux) took Wilber's map and applied it to the companies he studied in his peerless work "Reinventing Organizations" Just because DAOs have the potential to grow like trees into the blue sky of our future, doesn't mean they will. They need the right operating system. - -![](9.png) - -##### 20 -Teal is an operating system for organizations formed from sovereign human beings taking agency and responsibility in their lives; based on self-management, wholeness, and evolutionary purpose. Where today's big companies are like machines, Teal orgs are like biology. - -##### 21 -Why did that little guy survive and turn into mitochondria that time the other guy ate it? Who fucking knows. But maybe it had something to do with trust. The wizard [@fifthworldzach](https://twitter.com/fifthworldzach), our other co-instigator at coordinape, says "organizations move at the speed of trust." - -##### 22 -I think about this a lot. Being part of a collective life form that bleeds money and grows in realms beyond my imagination can be confusing. I /can't/ understand what it needs. I need to let go. And to do that, I need to trust I'll be ok. - -##### 23 -Structures like ethereum, Teal Orgs, DAOs, coordinape, and gov 2.0 help me trust that the mind between minds will be there, and I can go wherever my interests take me, knowing the whole organism will thrive. - -That's what we're building. diff --git a/Tweets/_posts/What is a DAO/7.png b/Tweets/_posts/What is a DAO/7.png deleted file mode 100644 index d7c72f074..000000000 Binary files a/Tweets/_posts/What is a DAO/7.png and /dev/null differ diff --git a/Tweets/_posts/What is a DAO/9.png b/Tweets/_posts/What is a DAO/9.png deleted file mode 100644 index 8400fc9b3..000000000 Binary files a/Tweets/_posts/What is a DAO/9.png and /dev/null differ diff --git a/Tweets/_posts/Why is Yearn Finance Built Different/2022-01-01-Why-is-Yearn-Finance-Built-Different.md b/Tweets/_posts/Why is Yearn Finance Built Different/2022-01-01-Why-is-Yearn-Finance-Built-Different.md deleted file mode 100644 index a68f21976..000000000 --- a/Tweets/_posts/Why is Yearn Finance Built Different/2022-01-01-Why-is-Yearn-Finance-Built-Different.md +++ /dev/null @@ -1,139 +0,0 @@ ---- -layout: post -title: "Why is Yearn Finance Built Different?" -categories: [Tweets] -image: ./Why-is-Yearn-Finance-Built-Different/3_1477267208262885377.jpg -author: Wot_Is_Goin_On -translator: -publish: true ---- - -original source: [twitter](https://twitter.com/Wot_Is_Goin_On/status/1477277152336916484) - ---- - -##### 1 - -It’s 2022, time to re-analyze your DeFi bets. Here's a thread on some of the questions you might ask of some key DeFi categories and why [@iearnfinance](https://twitter.com/iearnfinance) is built different. Not Financial Advice. - ---- - -##### 2 - -DEXes - bringing LPs and traders together. What makes your DEX special? Better formula than xy=k? No VCs? Multi-chain? Tiny market cap on a new chain the rotatooors haven’t got to yet? Solved [insert feature here]? The best UI? Fashionable tokenomics? Lots to choose from. - ---- - -##### 3 - -Lending protocols. What makes your lending protocol special? More assets? More secure? Better oracles? More chains? Isolated lending? A mobile app? Do borrowers pay more interest than lenders receive after token emissions? Watch out for vanity metrics like incentivized TVL. - ---- - -##### 4 - -Perpetual protocols – bringing market makers and leveraged traders together. Is a focus on performance at the cost of composability the right approach? Order book or virtual AMM? Multi-chain? Lots to choose from. - ---- - -##### 5 - -Options protocols – bringing options market makers and traders together. Clearly a huge TAM. Will any actually succeed in getting users and liquidity this year? Lots to choose from. - ---- - -##### 6 - -Stablecoin protocols – collateralized, algorithmic, a little bit of both, or maybe stable is out of fashion. Plans to conquer Asia, or maybe Venezuela? Focusing on real-world assets or leveraging up in DeFi? New tokenomics? Lots to choose from. - ---- - -##### 7 - -Protocols that specialize in one strategy – giving more experienced DeFi users an opportunity to take on more risk for greater returns. Uniswap v3 strategies. Milk the veToken strategies. Passive options strategies. Solving impermanent loss strategies. Lots to choose from. - ---- - -##### 8 - -The (maybe multiple) winners in each of the categories above will likely create enormous value, but picking winners is difficult. - ---- - -##### 9 - -Yearn is different. Whilst Yearn is usually labelled as a “yield aggregator” this can lead to the idea that a team works on generating a yield. Even worse it's sometimes considered a simple CRV farmer. This is not a useful way to understand Yearn. - ---- - -##### 10 - -There are currently significant constraints on yield generation such as a small pool of people who can build strategies, high gas fees limiting certain strategies, lack of battled-tested protocols to build strategies and a lack of ways to automate processes. - ---- - -##### 11 - -Rather than wait for these constraints to ease (and they already are with more strategists being on-boarded, other chains and L2s with low fees), Yearn has been quietly building infrastructure to optimize the interaction between protocols, strategists and capital at scale. - ---- - -##### 12 - -Yearn has been building the machine that builds the machine of yield aggregation (to paraphrase Mr. Musk), ready for a world of an ever-increasing number of tokens, complex protocols, chains, strategists, tooling and capital. - ---- - -##### 13 - -With $7bn of DeFi hacks in 2021 the primary focus has been on security. - ---- - -##### 14 - -Most DeFi protocols limit financial risks by tweaking parameters (e.g. lending protocols reduce the loan-to-collateral value of riskier assets), and minimize technological risks by focusing on one thing (e.g. lending). - ---- - -##### 15 - -Yearn does DeFi the hard way as it combines multiple protocols and strategies within a single vault. Other protocols boast about the number of audits they've done. Yearn's yAcademy is training the next generation of auditors - helping speed up the approval of new strategies. - ---- - -##### 16 - -After security comes capital efficiency – figuring out how a vault should be split across lending protocols, LPs, leveraged farm opportunities and other strategies to optimize the risk-adjusted returns. And then trying to automate it. - ---- - -##### 17 - -Part of the reason behind YFI's "fair launch" was the realization that producing a high risk-adjusted yield for the trillions of dollars sitting in TradFi would be too much work for one team. The YFI boarding school is now training first-time strategists. - ---- - -##### 18 - -Scalability requires reducing manual processes - buybacks, harvests, changing the strategy weightings, hedging after price movements. It's no coincidence Andre created [@thekeep3r](https://twitter.com/thekeep3r). There's even a data analysis group working on the optimal time to do buybacks. - ---- - -##### 19 - -Co-ordination with decentralization – how do you build a system that incentivizes people who’ve never met to make all this happen? [@coordinape](https://twitter.com/coordinape) helps - a tool whose origins go back to a Yearn group that first ran into the problem - is now being used by countless DAOs. - ---- - -##### 20 - -Each new DeFi protocol creates a potential opportunity for a strategist. The new strategy improves the risk-adjusted yield for the vaults which incentivizes more capital, leading to more fees which can be used to build this beast of a platform. - -![3_1477267208262885377](3_1477267208262885377.jpg) - ---- - -##### 21 - -The examples in this thread show how Yearn is attempting to solve the generalized problems in DeFi. The term "DeFi protocol" doesn't seem to do it justice, maybe Yearn could be better described as a fintech DAO... diff --git a/Tweets/_posts/Yearn grant Atlantis World/2021-08-31-Yearn-grant-Atlantis-World.md b/Tweets/_posts/Yearn grant Atlantis World/2021-08-31-Yearn-grant-Atlantis-World.md deleted file mode 100644 index adcd86d19..000000000 --- a/Tweets/_posts/Yearn grant Atlantis World/2021-08-31-Yearn-grant-Atlantis-World.md +++ /dev/null @@ -1,39 +0,0 @@ ---- -layout: post -title: "Atlantis World Grant" -categories: [ Tweets ] -image: ./Yearn-grant-Atlantis-World/image2.jpg -author: Yearn -translator: -publish: true ---- - -original source: [twitter](https://twitter.com/iearnfinance/status/1432387438014435332) - -###### Yearn Finance has issued a grant to [@atlantis0x](https://twitter.com/atlantis0x) to help build a 2d pixel metaverse. Here's why: - -##### 1 - -[Atlantis World](https://twitter.com/atlantis0x) is a Web3 metaverse designed to expand access to virtual worlds, a 2d pixelverse that doesn't require expensive tech but will still melt faces. - -![](image2.jpg) - -##### 2 - -They're building DAO and DeFi first, with education, community, governance, and security in mind from the start. - -##### 3 - -We think the metaverse will play a big role in the future of DAOs and culture as we connect, gamify, and evolve the ecosystem. - -##### 4 - -Learn more about Atlantis World: [atlantisworld.io](https://atlantisworld.io) - -##### 5 - -Grants to builders like [@atlantis0x](https://twitter.com/atlantis0x) are core to Yearn's strategy to constantly evolve and keep making DeFi simple. - -##### 6 - -Building something next level and want to connect with us? Visit: [yearnfinance.typeform.com/yGrants](https://yearnfinance.typeform.com/yGrants) diff --git a/Tweets/_posts/Yearn grant Atlantis World/image2.jpg b/Tweets/_posts/Yearn grant Atlantis World/image2.jpg deleted file mode 100644 index ae3b9da70..000000000 Binary files a/Tweets/_posts/Yearn grant Atlantis World/image2.jpg and /dev/null differ diff --git a/Updates/_posts/Web Team/Jan-10/2022-01-12-Jan-10.md b/Updates/_posts/Web Team/Jan-10/2022-01-12-Jan-10.md deleted file mode 100644 index 17cad2eb1..000000000 --- a/Updates/_posts/Web Team/Jan-10/2022-01-12-Jan-10.md +++ /dev/null @@ -1,80 +0,0 @@ ---- -layout: post -title: "Web Engineering Update: Jan. 10th" -categories: [Updates] -image: ./Jan-10/logo.png -author: f0xTheSin -translator: -publish: true ---- - -original source: https://yearnweb.substack.com/p/yearn-web-engineering-update - -# Yearn Web Engineering Update - -#### Week of 10 Jan 2022 - -## Summary - -Fast start to the year with multiple releases coming down the pipeline. Small bugs are addressed as they arise and security continues to be our top priority. Several first-time contributors have opened PRs'an exciting trend as we look to continually expand the website's functionality for current and future chains. 🚀 - -This week saw several updates to yearn-meta, including token and strategy descriptions for our 12 new vaults, as well as backend updates to Iron Bank and improved pricing logic for Curve LP tokens. - -## Accomplishments ✅ - -- Release 1.0.5 - - - fix: tx token price update - - fix: downgrade bnc-onboard - -- Release 1.0.6 - - - refactor: pin new dependencies - - fix: add dev timeouts for reduxtoolkit - - feat: supported assets validation \[WEB-1060\] (#418) - - fix: yvBoost balance displayed correctly \[WEB-1080\] (#423) - - fix: update link to security policy - - feat: update sdk (#427) - - feat: remove unsupported tokens (#425) - -- Miscellaneous - - - fix: handle custom vaults response on camelCase to snake_case (web-1104) - - fix: refactor normalize casing of composite object (web-1103) - - fix: paginate token balances (web-1125) - - feat: add collateral cap properties to types (web-1124) - - fix: added descriptions for underlying tokens (web-1119) - - feat: small improvement to setup documentation (web-946) - - fix: use checksummed address (web-1113) - - feat: swap out white for black rai curve logo (web-1112) - - feat: add updated crypto pool token logos (web-1111) - - fix: icons for crv-eth, cvx-eth, and ust-wormhole (web-1108) - - fix: mainnet api stopped workout without notification (web-1091) - - fix: update vault detail page graph to "up-only" (web-1045) - - fix: assetsPositionsof fetch error on ftm (web-1075) - - fix: yvBoost balance incorrect (web-1080) - - fix: FE validate supported assets addresses (web-1060) - - fix: fix preview build and pin dependencies (web-942) - - fix: vault deposit zapper error (web-1056) - -## Ongoing Focus and Outstanding Issues - -- Cycle Focus: Web Security - - - Two-week cycle continues our focus on mitigating front-end attacks. Be on the lookout for an in-depth post regarding these updates once they are completed. - -- Outstanding Issues - - - Update test suite for SDK - - Improve simulation errors to be more specific and informative - - Refactor APY code in API and write documentation - -## **Come Build with us! :man_mechanic: ** - -- We're continually adding public issues to our GitHub and always welcome new contributions in any of our repos - - - https://github.com/yearn/yearn-finance-v3 - - https://github.com/yearn/yearn-sdk - - https://github.com/yearn/yearn-exporter - - https://github.com/yearn/yearn-lens - - https://github.com/yearn/yearn-meta diff --git a/Updates/_posts/Web Team/Jan-17/2022-01-20-Jan-17.md b/Updates/_posts/Web Team/Jan-17/2022-01-20-Jan-17.md deleted file mode 100644 index e290b97d7..000000000 --- a/Updates/_posts/Web Team/Jan-17/2022-01-20-Jan-17.md +++ /dev/null @@ -1,89 +0,0 @@ ---- -layout: post -title: "Web Engineering Update: Jan. 17th" -categories: [Updates] -image: ./Jan-17/logo.png -author: f0xTheSin -translator: -publish: true ---- - -original source: https://yearnweb.substack.com/p/yearn-web-engineering-update-7d7 - -# Yearn Web Engineering Update - -### Week of 17 Jan 2022 - -## **Summary** - -A big release this week with APY tooltips making an appearance; you can now see more detailed information when you hover over the APY of a vault. Finalizing security improvements remains the top focus, with the addition of Arbitrum vaults coming up next, and more work to improve our multi-chain UI/UX as well. - -Other updates include no more dust following vault withdrawals, support for a new LINK vault on Fantom, and UI fixes for yvBOOST and the Iron Bank. - -## **Accomplishments ✅** - -### **Web Release 1.0.8 (17 Jan 2022)** - -- feat: readme instructions improved 📚 -- feat: APY tooltips for vaults and labs - - - Hovering over a vault's APY on the vaults page or the detail page will now provide a similar breakdown as seen on the v2 website, with extra info included for Curve LP vaults. - -- feat: add health status route 🏘️ -- feat: withdraw all for vaults - - - Previously, when withdrawing the UI would convert the user's input of underlying token balance into vault shares, and then pass this to the vault contract via `withdraw(shares)`. However, if share price was increasing following a harvest, this could leave a user with dust (a tiny, fractional amount of vault shares). Now, the UI detects if a user is trying to withdraw all of their vault position, and instead passes `withdraw(max_uint)`, which will burn all of the user's vault shares and leave no dust even if the share price is increasing each block. - -- fix: labs withdraw share calculation - - - There was an issue displaying the amount of yveCRV a user would receive from a yvBOOST withdrawal due to special handling of the vault token (yvBOOST) as the display token. This has been corrected. - -- style: eslint rule for import order 📝 - -### **SDK Release 1.0.15 (19 Jan 2022)** - -- feat: add allow list -- chore(deps): bump shelljs from 0.8.4 to 0.8.5 -- feat: enable ci tests on pull requests -- fix(account.summaryof): ignore lab vaults for holdings calculation -- fix: resolve missing fetch import - -### **Miscellaneous** - -- feat: live puppeteer site monitoring framework -- fix: update user borrow limit - - - This UI fix considers an asset's collateral cap when displaying a user's borrow limit for Iron Bank - -- fix: update curve calculations for new pools -- fix: yvBoost display error -- feat: remove new type override for curve vaults -- fix: display total assets -- fix: yvBoost withdraw error -- feat: add fantom link vault logo -- feat: add link vault info -- fix: ignore lab vaults for holdings calculation -- fix: resolve missing fetch import - -## **Ongoing Focus and Outstanding Issues** - -- **Cycle Focus 🎯 ** - - - Finalize and ship security improvements, with a full deep-dive post coming soon. - - Arbitrum is coming! This cycle the web team is bringing Arbitrum to the forefront as we begin vault testing and integration. - - With vaults soon launching on our third chain, Yearn is designing a multi-chain UI/UX to allow users to more easily view current positions and new opportunities across all supported chains within the Yearn ecosystem. - -- **Current issues 🐛** - - - Vault migration bug: Following migration, some users must refresh the page before the new vault appears and the old vault goes away. Difficult to reproduce consistently (2/16 tries on Fantom), this error appears to be due to misalignment of data between wallet RPC and our SDK. - - JSON-RPC Error: This one seems to appear most commonly on Fantom. Improved error messaging in the frontend will better help users determine if they are experiencing a true RPC error or something else. - -## **Come Build with us! :man_mechanic:** - -- We're continually adding public issues to our GitHub and always welcome new contributions in any of our repos - - - https://github.com/yearn/yearn-finance-v3 - - https://github.com/yearn/yearn-sdk - - https://github.com/yearn/yearn-exporter - - https://github.com/yearn/yearn-lens - - https://github.com/yearn/yearn-meta diff --git a/Updates/_posts/Web Team/Jan-3/2022-01-03-Jan-3.md b/Updates/_posts/Web Team/Jan-3/2022-01-03-Jan-3.md deleted file mode 100644 index dc262bc31..000000000 --- a/Updates/_posts/Web Team/Jan-3/2022-01-03-Jan-3.md +++ /dev/null @@ -1,60 +0,0 @@ ---- -layout: post -title: "Web Engineering Update: Jan. 3rd" -categories: [Updates] -image: ./Jan-3/logo.png -author: Dudesahn -translator: -publish: true ---- - -original source: https://yearnweb.substack.com/p/update-jan-5-2022 - -# Yearn Web Engineering Update - -#### Week of January 3, 2022 - -## **Summary** - -Release of v3 beta site to production in December has gone well. We continue to address bugs as they arise, and are currently focused on increased security and monitoring of the website. - -## **Accomplishments** - -- Release 1.0.4 - - - Fix: alchemy link on footer - - Fix: pickle API link - - Fix: labs deposit expected token amount - - Fix: detailed view vault fetching on network switch - - Fix: allow cancel fetches for news ones when user performs asynchronous actions - - Feat: created NFT access (disabled for now) - - Feat: vault historical earnings in underlying token - - Feat: improved footer UI - - Feat: improved network switching UI - - Feat: support for Fantom in yearn-exporter - -- Fix: yvBoost deposit expected token outcome -- Feat: add prompt to "add network" if user doesn't have in MetaMask -- Feat: add reddit link and logo to footer -- Feat: support fantom in yearn-exporter -- Fix: remove beta languages - -## **Ongoing Focus and Outstanding Issues** - -- Cycle Focus: Web Security - - - In response to the increasing sophistication of front-end attacks on DeFi protocols, we have spent the last several weeks designing and implementing several improvements to Yearn's web security, including monitoring, real-time verification, and implementation of a web multisig. More details to follow upon release. - -- Vault migration bug - - - Some users have reported an issue when migrating vaults requiring a page refresh for their new vault balance to appear. While this issue has proven a bit difficult to replicate, engineers are debugging this week. - -## **Come Build with us!** - -- We're continually adding public issues to our GitHub and always welcome new contributions in any of our repos - - - https://github.com/yearn/yearn-finance-v3 - - https://github.com/yearn/yearn-sdk - - https://github.com/yearn/yearn-exporter - - https://github.com/yearn/yearn-lens - - https://github.com/yearn/yearn-meta diff --git a/_config.docker.yml b/_config.docker.yml deleted file mode 100644 index 8822b6120..000000000 --- a/_config.docker.yml +++ /dev/null @@ -1 +0,0 @@ -url: "http://localhost:4000" diff --git a/_config.yml b/_config.yml deleted file mode 100644 index 3d8068592..000000000 --- a/_config.yml +++ /dev/null @@ -1,219 +0,0 @@ -title: "Yearn Blog" -email: people@yearn.finance -timezone: UTC -url: https://blog.yearn.finance -baseurl: "" -permalink: "/:title/" -logo: 'assets/images/yearn_logo.svg' -favicon: 'assets/images/favicon.ico' -author: yearn -paginate: 30 -locale: en_us -lang: en_us -feed_items: 10 -feed_update_period: daily -feed_update_frequency: 1 -markdown: kramdown -kramdown: - syntax_highlighter_opts: - disable: true -sass: - sass_dir: _sass - style: :compressed -ganalytics: UA- - -# Authors -authors: - Yearn: - name: Yearn - display_name: Yearn - web: https://yearn.finance/ - twitter: https://twitter.com/iearnfinance - blog: https://yearn.substack.com - description: "We are Yearn." - - Yearn DAO Contributors: - name: Yearn DAO Contributors - display_name: Yearn DAO Contributors - web: https://gov.yearn.finance - twitter: https://twitter.com/iearnfinance - description: "We are Yearn YFI holders." - - Dudesahn: - name: Dudesahn - display_name: Dudesahn - twitter: https://twitter.com/dudesahn - description: "I am Dudesahn." - - Storm Blessed: - name: Storm Blessed - display_name: Storm Blessed - twitter: https://twitter.com/storming0x - web: https://yearn.watch - description: "Yearn DAO contributor." - - Facu: - name: Facu - display_name: Facu - twitter: https://twitter.com/saltyfacu - web: https://rarityextended.com - description: "I am salty." - - Andre: - name: Andre Cronje - display_name: Andre Cronje - twitter: https://twitter.com/AndreCronjeTech - blog: https://andrecronje.medium.com - description: - - Wot_Is_Goin_On: - name: Wot_Is_Goin_On - display_name: Wot_Is_Goin_On - twitter: https://twitter.com/Wot_Is_Goin_On - blog: https://wot-is-goin-on.medium.com - description: - - LexPunk DAO: - name: LexPunk DAO - display_name: LexPunk DAO - web: https://www.lexpunk.army - description: Amidst intensifying regulatory scrutiny of DeFi, we formed LeXpunK’s Builder Defense DAO dedicated to legal advocacy for builder-centric DeFi communities. The LeXpunK_DAO is governed by builders from its founding contributing communities (Yearn, Curve & Lido) and practicing lawyers from the LeXpunK Army. L3X, the non-transferable reputational token of the LeXpunK Army, is being airdropped to the founding communities, additional contributing DAOs, and a broader community of legal and developer advocates who are identified to date as active in the DeFi space and aligned with the LeXpunK mission, to enable direct sentiment polling on relevant legal issues from DeFi community. LeXpunK will effect additional airdrops from time to time, proportionally in line with the relative contributions of advocates, LeXpunK Army contributors and other builder communities, with the goal of forming a broad coalition to pool resources for funding shared advocacy goals. - - Weaver: - name: Weaver - display_name: Weaver - twitter: https://twitter.com/0xWeaver - blog: https://medium.com/@0xWeaver - description: "I am 0xWeaver" - - Dark Ghosty: - name: Dark Ghosty - display_name: Dark - description: "Contributor to Yearn DAO." - - Qosmonot: - name: qosmonot - display_name: qosmonot - twitter: https://twitter.com/qosmonot - blog: - description: "Contributor to Yearn DAO." - - Gemini/Cryptopedia: - name: Gemini/Cryptopedia - display_name: Gemini/Cryptopedia - web: https://www.gemini.com/cryptopedia - twitter: - description: - - Tracheopteryx: - name: Tracheopteryx - display_name: Tracheopteryx - twitter: https://twitter.com/Tracheopteryx - description: - - Argent: - name: Argent - display_name: Argent - web: https://www.argent.xyz/ - twitter: - description: - - The Digital Investor: - name: The Digital Investor - display_name: The Digital Investor - web: https://www.seba.swiss/research - twitter: - description: - - f0xTheSin: - name: f0xTheSin - display_name: f0xTheSin - description: "Web team contributor Yearn DAO." - -# Translators -translators: - Bee926: - name: Bee926 - display_name: Bee926 - twitter: https://twitter.com/bee_926 - blog: https://www.youtube.com/channel/UCacoBnE--eGgPnxBnu3DFJw - web: http://coinversation.org/ - - Cryptouf: - name: Cryptouf - display_name: Cryptouf - twitter: https://twitter.com/cryptouf - blog: https://cryptoouf.com - web: https://cryptoouf.com/newsletter - - Cripu: - name: Cripu - display_name: Cripu - twitter: https://twitter.com/CRYPTANNEWS - blog: https://www.cryptannews.com/ - - Dastronom: - name: Dastronom - display_name: Dastronom - twitter: https://twitter.com/Dastronomm - - RestlessMik3: - name: RestlessMik3 - display_name: RestlessMik3 - twitter: https://twitter.com/margjr84 - - 🤖💵💵💰💰.eth: - name: 🤖💵💵💰💰.eth - display_name: 🤖💵💵💰💰.eth - - Nesyeth: - name: Nesyeth - display_name: Nesyeth - - Fin2thepeople: - name: Fin2thepeople - display_name: Fin2thepeople - - Jeffor12: - name: Jeffor12 - display_name: Jeffor12 - twitter: https://twitter.com/jeff84431381 - - Jengajojo: - name: Jengajojo - display_name: Jengajojo - - Major-Rager: - name: Major-Rager - display_name: Major-Rager - - Jameskbh: - name: Jameskbh - display_name: Jameskbh - - Japzar: - name: Japzar - display_name: Japzar - - Stathis: - name: Stathis - display_name: Stathis - - Xiaona: - name: Xiaona - display_name: Xiaona - twitter: https://twitter.com/latingi44239287 - blog: https://www.youtube.com/channel/UCacoBnE--eGgPnxBnu3DFJw - -# Social -social: - twitter: https://twitter.com/iearnfinance - -# Plugins -plugins: -- jekyll-paginate -- jekyll-sitemap -- jekyll-feed -- jekyll-seo-tag -- jekyll-archives -- jekyll-target-blank diff --git a/_data/menus.yml b/_data/menus.yml deleted file mode 100644 index 6d5e8c93d..000000000 --- a/_data/menus.yml +++ /dev/null @@ -1,55 +0,0 @@ -# Top Menu -topmenu: -- title: Announcements - url: "announcements/" - -- title: Newsletters - url: "newsletters/" - -- title: Tweets - url: "tweets/" - -- title: Articles - url: "articles/" - -- title: Financials - url: "financials/" - -- title: Updates - url: "updates/" - -- title: yearn.finance - url: https://beta.yearn.finance/ - class: "ml-2 btn btn-primary text-white px-3" - external: true - -# Footer Menu -footermenu: - -- title: about - url: "about/" - -- title: github - url: https://github.com/yearn/yearn-comms - class: "ml-2 btn btn-primary text-white px-3" - external: true - -- title: yearn.finance - url: https://yearn.finance/ - class: "ml-2 btn btn-primary text-white px-3" - external: true - -- title: yearn docs - url: https://docs.yearn.finance/ - class: "ml-2 btn btn-primary text-white px-3" - external: true - -- title: yearn contribute - url: https://contribute.yearn.rocks - class: "ml-2 btn btn-primary text-white px-3" - external: true - -- title: yearn onboarding - url: https://yearnfinance.notion.site - class: "ml-2 btn btn-primary text-white px-3" - external: true diff --git a/_includes/newsletter.html b/_includes/newsletter.html deleted file mode 100644 index 009ff5631..000000000 --- a/_includes/newsletter.html +++ /dev/null @@ -1,28 +0,0 @@ - - - - - -
-
-
-

Sign up to get our weekly newsletter delivered straight to your inbox

- -
- -
-
- - -
- -
-
-
-
- - diff --git a/_includes/pagination.html b/_includes/pagination.html deleted file mode 100644 index 20fd7c559..000000000 --- a/_includes/pagination.html +++ /dev/null @@ -1,13 +0,0 @@ - \ No newline at end of file diff --git a/_includes/postbox.html b/_includes/postbox.html deleted file mode 100644 index 1623ff52c..000000000 --- a/_includes/postbox.html +++ /dev/null @@ -1,27 +0,0 @@ - -{% assign author = site.authors[post.author] %} -
-
- - {% if post.image %} {{ post.title }} {% endif %} - -
-
-

- {{ post.title }} -

- -
-
- - By {% if post.author %}{{ author.display_name }}{% else %}{{ site.author }}{% endif %}, - on - -
-
-
-
-
- diff --git a/_includes/sidebar.html b/_includes/sidebar.html deleted file mode 100644 index bd39ae9e2..000000000 --- a/_includes/sidebar.html +++ /dev/null @@ -1,6 +0,0 @@ - diff --git a/_layouts/about.html b/_layouts/about.html deleted file mode 100644 index 5dc3d881f..000000000 --- a/_layouts/about.html +++ /dev/null @@ -1,24 +0,0 @@ ---- -layout: default ---- - -{% if page.image %} -
- {{ page.title }} -
-{% endif %} - - -
- -
- {{content}} -
- - {% if page.comments == true %} -
- {% include disqus.html %} -
- {% endif %} - -
diff --git a/_layouts/announcements.html b/_layouts/announcements.html deleted file mode 100644 index 483ca874b..000000000 --- a/_layouts/announcements.html +++ /dev/null @@ -1,20 +0,0 @@ ---- -title: "Announcements" -layout: default -permalink: "/announcements.html" ---- - - -
-{% for post in site.categories.Announcements %} -{% if post.title != null %} -{% if group == null or group == post.group %} -{% unless post.publish == false %} -
-{% include postbox.html %} -
-{% endunless %} -{% endif %} -{% endif %} -{% endfor %} -
\ No newline at end of file diff --git a/_layouts/articles.html b/_layouts/articles.html deleted file mode 100644 index 184e28f7b..000000000 --- a/_layouts/articles.html +++ /dev/null @@ -1,20 +0,0 @@ ---- -title: "Articles" -layout: default -permalink: "/articles.html" ---- - - -
-{% for post in site.categories.Articles %} -{% if post.title != null %} -{% if group == null or group == post.group %} -{% unless post.publish == false %} -
-{% include postbox.html %} -
-{% endunless %} -{% endif %} -{% endif %} -{% endfor %} -
diff --git a/_layouts/categories.html b/_layouts/categories.html deleted file mode 100644 index 3bc167b8c..000000000 --- a/_layouts/categories.html +++ /dev/null @@ -1,24 +0,0 @@ ---- -title: "Categories" -layout: default -permalink: "/categories.html" ---- -{% for category in site.categories %} -

In "{{ category[0] }}"

-
-{% assign pages_list = category[1] %} -{% for post in pages_list %} -{% if post.title != null %} -{% if group == null or group == post.group %} -{% unless post.publish == false %} -
-{% include postbox.html %} -
-{% endunless %} -{% endif %} -{% endif %} -{% endfor %} -{% assign pages_list = nil %} -{% assign group = nil %} -
-{% endfor %} diff --git a/_layouts/default.html b/_layouts/default.html deleted file mode 100644 index 5f4e451cd..000000000 --- a/_layouts/default.html +++ /dev/null @@ -1,141 +0,0 @@ - - - - - - - -{{ page.title }} | {{site.title}} - -{% seo %} - - - - - - - - -{% if jekyll.environment == "production" %} - - - -{% endif %} - - - -{% capture layout %}{% if page.layout %}layout-{{ page.layout }}{% endif %}{% endcapture %} - - - - - - - - -
- {{ content }} -
- - - - - - - - - - - - - - - - - - diff --git a/_layouts/financials.html b/_layouts/financials.html deleted file mode 100644 index 02ddb7aa7..000000000 --- a/_layouts/financials.html +++ /dev/null @@ -1,20 +0,0 @@ ---- -title: "Financials" -layout: default -permalink: "/financials.html" ---- - - -
-{% for post in site.categories.Financials %} -{% if post.title != null %} -{% if group == null or group == post.group %} -{% unless post.publish == false %} -
-{% include postbox.html %} -
-{% endunless %} -{% endif %} -{% endif %} -{% endfor %} -
diff --git a/_layouts/newsletters.html b/_layouts/newsletters.html deleted file mode 100644 index eb3df9cb9..000000000 --- a/_layouts/newsletters.html +++ /dev/null @@ -1,20 +0,0 @@ ---- -title: "Newsletters" -layout: default -permalink: "/newsletters.html" ---- - - -
-{% for post in site.categories.Newsletters %} -{% if post.title != null %} -{% if group == null or group == post.group %} -{% unless post.publish == false %} -
-{% include postbox.html %} -
-{% endunless %} -{% endif %} -{% endif %} -{% endfor %} -
diff --git a/_layouts/page.html b/_layouts/page.html deleted file mode 100644 index 829e48631..000000000 --- a/_layouts/page.html +++ /dev/null @@ -1,28 +0,0 @@ ---- -layout: default ---- - -{% if page.image %} -
- {{ page.title }} -
-{% endif %} - - -
- -
-

{{ page.title }}

-
- -
- {{content}} -
- - {% if page.comments == true %} -
- {% include disqus.html %} -
- {% endif %} - -
diff --git a/_layouts/post.html b/_layouts/post.html deleted file mode 100644 index 625db6c25..000000000 --- a/_layouts/post.html +++ /dev/null @@ -1,121 +0,0 @@ ---- -layout: default -disqus: false -archive: false -post_class: post-template ---- - - - -
- - - - {% assign author = site.authors[page.author] %} - {% assign translator = site.translators[page.translator] %} - -
- - - - - -
- - - - - - {% if page.author %} - - {% endif %} - - - - {% if page.translator %} - - {% endif %} - - -
- - - -
- {{content}} -
-
- - - - - - - -
- - - -
- - diff --git a/_layouts/tweets.html b/_layouts/tweets.html deleted file mode 100644 index cfed54fb3..000000000 --- a/_layouts/tweets.html +++ /dev/null @@ -1,20 +0,0 @@ ---- -title: "Tweets" -layout: default -permalink: "/tweets.html" ---- - - -
-{% for post in site.categories.Tweets %} -{% if post.title != null %} -{% if group == null or group == post.group %} -{% unless post.publish == false %} -
-{% include postbox.html %} -
-{% endunless %} -{% endif %} -{% endif %} -{% endfor %} -
diff --git a/_layouts/updates.html b/_layouts/updates.html deleted file mode 100644 index 53a380857..000000000 --- a/_layouts/updates.html +++ /dev/null @@ -1,20 +0,0 @@ ---- -title: "Updates" -layout: default -permalink: "/updates.html" ---- - - -
-{% for post in site.categories.Updates %} -{% if post.title != null %} -{% if group == null or group == post.group %} -{% unless post.publish == false %} -
-{% include postbox.html %} -
-{% endunless %} -{% endif %} -{% endif %} -{% endfor %} -
diff --git a/_sass/bootstrap/_alert.scss b/_sass/bootstrap/_alert.scss deleted file mode 100644 index dd43e2376..000000000 --- a/_sass/bootstrap/_alert.scss +++ /dev/null @@ -1,51 +0,0 @@ -// -// Base styles -// - -.alert { - position: relative; - padding: $alert-padding-y $alert-padding-x; - margin-bottom: $alert-margin-bottom; - border: $alert-border-width solid transparent; - @include border-radius($alert-border-radius); -} - -// Headings for larger alerts -.alert-heading { - // Specified to prevent conflicts of changing $headings-color - color: inherit; -} - -// Provide class for links that match alerts -.alert-link { - font-weight: $alert-link-font-weight; -} - - -// Dismissible alerts -// -// Expand the right padding and account for the close button's positioning. - -.alert-dismissible { - padding-right: ($close-font-size + $alert-padding-x * 2); - - // Adjust close link position - .close { - position: absolute; - top: 0; - right: 0; - padding: $alert-padding-y $alert-padding-x; - color: inherit; - } -} - - -// Alternate styles -// -// Generate contextual modifier classes for colorizing the alert. - -@each $color, $value in $theme-colors { - .alert-#{$color} { - @include alert-variant(theme-color-level($color, $alert-bg-level), theme-color-level($color, $alert-border-level), theme-color-level($color, $alert-color-level)); - } -} diff --git a/_sass/bootstrap/_badge.scss b/_sass/bootstrap/_badge.scss deleted file mode 100644 index b87a1b004..000000000 --- a/_sass/bootstrap/_badge.scss +++ /dev/null @@ -1,47 +0,0 @@ -// Base class -// -// Requires one of the contextual, color modifier classes for `color` and -// `background-color`. - -.badge { - display: inline-block; - padding: $badge-padding-y $badge-padding-x; - font-size: $badge-font-size; - font-weight: $badge-font-weight; - line-height: 1; - text-align: center; - white-space: nowrap; - vertical-align: baseline; - @include border-radius($badge-border-radius); - - // Empty badges collapse automatically - &:empty { - display: none; - } -} - -// Quick fix for badges in buttons -.btn .badge { - position: relative; - top: -1px; -} - -// Pill badges -// -// Make them extra rounded with a modifier to replace v3's badges. - -.badge-pill { - padding-right: $badge-pill-padding-x; - padding-left: $badge-pill-padding-x; - @include border-radius($badge-pill-border-radius); -} - -// Colors -// -// Contextual variations (linked badges get darker on :hover). - -@each $color, $value in $theme-colors { - .badge-#{$color} { - @include badge-variant($value); - } -} diff --git a/_sass/bootstrap/_breadcrumb.scss b/_sass/bootstrap/_breadcrumb.scss deleted file mode 100644 index 25b9d85a1..000000000 --- a/_sass/bootstrap/_breadcrumb.scss +++ /dev/null @@ -1,38 +0,0 @@ -.breadcrumb { - display: flex; - flex-wrap: wrap; - padding: $breadcrumb-padding-y $breadcrumb-padding-x; - margin-bottom: $breadcrumb-margin-bottom; - list-style: none; - background-color: $breadcrumb-bg; - @include border-radius($border-radius); -} - -.breadcrumb-item { - // The separator between breadcrumbs (by default, a forward-slash: "/") - + .breadcrumb-item::before { - display: inline-block; // Suppress underlining of the separator in modern browsers - padding-right: $breadcrumb-item-padding; - padding-left: $breadcrumb-item-padding; - color: $breadcrumb-divider-color; - content: "#{$breadcrumb-divider}"; - } - - // IE9-11 hack to properly handle hyperlink underlines for breadcrumbs built - // without `