lovely tapir at @yearnfi LSW @sherlockdefi
Joined October 2023
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yvtapir retweeted
the yfu temple got a full refresh
temple.yearn.fi
all four yfu comics are now free to read, including issues 2-4, which were previously only available as an ultra-rare physical collectible. and the reader finally does them justice.
the comic pages and tribute art were tracked down to their masters and re-encoded at high quality.
the halls of the site hold the art and tributes made for the temple and its goddesses: techne, transmission, community and dominion.
and, of course, there is the soundtrack composed to accompany your journey as you explore the site.
yvtapir retweeted
guys, the APY is too high. it's breaking the UI
>100% APY on @LiquityProtocol's yBOLD
>70% APY on @CurveFinance's yvcrvUSD-2
>35% APY on @yearnfi's yvUSD
pls give the UI devs a break
yvtapir retweeted
Was talking to yChads at @flexmeow
I was worried about the @LiquityProtocol ysyBOLD / USDC loop market
My question was about the swapping in and out.
There can be a good about of redemptions until the market finds the acceptable borrow rate.
So i was worried that the pools would bleed value swapping $BOLD < - > $USDC
the answer blew my mind.
it doesnt swap, "it just adjust the internal accounting."
Meaning, if
I am willing to pay more borrow rate than you
and there is no idle liquity
then your debt just becomes my debt.
the tokens dont move.
yvtapir retweeted
We are aware of today's market manipulation involving reUSD. Yearn has no exposure to reUSD PTs or reUSD, and is not impacted by this incident.
We are actively following the situation and implementing measures to assure this kind of manipulation is not possible in our markets.
yvtapir retweeted
a new household loop just dropped 😻
yvcrvUSD-2 finds the best crvUSD yield opportunities on mainnet and optimizes allocations between them, currently mostly allocated to llamalend
you can now loop it on Flex
all your favorite DeFi protocols in one place
surely it can't get better than this...
or maybe it can? 🦛👀
yvtapir retweeted
I had a great time talking about the risks of vaults (and many new yield bearing tokens in general) with david. To be clear i'm still very bullish on vaults, and have roughly 50% of my crypto sitting in a few different steakhouse/yearn vaults.
I just think the industry needs to be more transparent about the risks depositors are getting into. Just showing a yield number and a rating I think is a recipe for financial disaster - and is how we will end up back at "banks" and fully centralized solutions again.
LIVE NOW: Why Vaults Are a Ticking Time Bomb | @andrewhong5297 from @herd_eco
DeFi vaults make yield feel simple. Behind one deposit can sit dozens of markets, recursive wrappers, leverage, curators, and risk assumptions most users never see.
Andrew Hong joins @TrustlessState to tell us about:
• Why vaults are becoming crypto’s one-click financial layer
• How Coinbase and institutions could take them mainstream
• Where risk creep and hidden dependencies enter
• Why transparency must come before ratings
---
TIMESTAMPS
0:00 Introducing DeFi Vaults
2:20 From Yearn to Morpho
3:58 Why One-Click Yield Is Growing
9:02 Coinbase Earn and the Safer End of Vaults
11:40 How Vaults Rebalance Capital
14:38 Leverage, RWAs, and Higher Yields
18:28 When Strategies Go Seven Layers Deep
20:43 The Summer Finance Exploit
23:56 The Incentive to Take More Risk
27:59 An Inevitable but Unstable Product
29:45 Regulation and the Role of Curators
34:10 The Transparency Gap
39:32 Misaligned Incentives and Liability
41:48 What Happens When Vaults Reach Mainstream Users
46:22 What the Vault Sector Needs
51:13 How to Evaluate a Vault
53:41 Did DeFi Reinvent the Bank?
58:01 What to Watch Next
1:03:44 What Herd Is Building
yvtapir retweeted
Farm or be farmed. Points are a mirage, yvUSD is real yield. That's just what we do at @yearnfi
30 day 7.56% average for locked yvUSD
This, combined with yvETH, yvBTC, and Flex, will be the best R/R savings products in DeFi
The North Star for Yearn has never been so clear, trust is the only currency that matters
If you loved Stream finance, you'll love yvUSD.
Both had a USDC product
Both are crosschain
Both hold assets with duration
Both operated carry trades
Both give yield far beyond the risk free rate
But this time everything is onchain and verifiable 24/7 and not just a static website with some APY's on it.
Locked - 7.55% APY (14 day cooldown, 5 day withdrawal window)
Unlocked - 5.35% APY
Use unlocked yvUSD to loop in @flexmeow today. This is our most exciting products since Vaults 6 years ago, don't miss it.
yvtapir retweeted
Yesterday we published a YIP to endorse and fund yTranche.
yTranche is a generalized, CLO-inspired tranching framework purpose-built for the next generation of Yearn vaults.
Unlike traditional tranching systems, yTranche allows each vault in the system to hold a "target" rate as well as an "excess" buffer. Yield is paid from most senior to junior first hitting each levels "target", then any excess left over once all targets are hit gets split based on the "excess" split.
This allows us the ability to turn one underlying yield source into many compelling structured products each with their own features, including fixed rate products.
It will be launched with three initial version USD, ETH and BTC
Each asset having a "fixed" (senior), a "levered" (mezzanine) and a "equity" (junior).
Current launch targets for the fixed senior is 5% USD, 3% ETH and 1.5% BTC. Each senior vault carries the same atomic liquidity as the current Yearn vaults, but with the added benefit of explicit junior capital protecting it.
The proposal requests for Yearn to be the anchor depositor in the Levered and Equity tranches, therefore showing we are willing and able to put our own money on the line to back our products and reap the benefits if they outperform.
By packaging one underlying vault into different products it allows Yearn to simplify its operations, continue to use the same trusted V3 vault code underneath, take on more risk in the strategies but still serve different groups.
yvtapir retweeted
The @yearnfi BOLD-USDC LP vault is now live 🔵
@CurveFinance BOLD-USDC LPs can now earn optimized yield 💸 👀
Yearn's booster vault handles the work
→ Auto-routes between Yearn's & @ConvexFinance veCRV boosts
→ Optimizes for the highest yield
yearn.fi/vaults/1/0xb83461b8…
