yearnyCRV Yearn Boosted Staker Launch: All You Need to Know
All the details you'll need to be fully prepared
yearnUpcoming yPRISMA YBS Staking Launch: All You Need to Know
All the details you'll need to be fully prepared
yearnEverything Must Go
Participating in Yearn Oracle-Free & Permissionless Dutch Auctions for fun and profit
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What is?
yvUSD is Yearn's newest vault product. A cross chain, cross asset, delta neutral stable coin vault meant to do what Yearn was always supposed to do, "Make DeFi simple".
I know what you're thinking, "Wow that's so original, how did you come up with that idea?"
For years people have been asking for this product from Yearn, but there was always hesitation around it.
Yearn was born out of the madness of early DeFi summer. When bridges got hacked more often than Trump picks off world leaders. When USDC and USDT had more peg issues than a gay pride parade. And when simply depositing into the newest food flavored Compound fork paid double digit yields.
But the reality is we no longer live in that world.
Although the available yield sources are getting more efficient and viable, they also come with increased complexity and unique risk. And all that means more foot guns for normal users to Dick Cheney themselves with.
What is?
yvUSD is Yearn's newest vault product. A cross chain, cross asset, delta neutral stable coin vault meant to do what Yearn was always supposed to do, "Make DeFi simple".
I know what you're thinking, "Wow that's so original, how did you come up with that idea?"
For years people have been asking for this product from Yearn, but there was always hesitation around it.
Yearn was born out of the madness of early DeFi summer. When bridges got hacked more often than Trump picks off world leaders. When USDC and USDT had more peg issues than a gay pride parade. And when simply depositing into the newest food flavored Compound fork paid double digit yields.
But the reality is we no longer live in that world.
Although the available yield sources are getting more efficient and viable, they also come with increased complexity and unique risk. And all that means more foot guns for normal users to Dick Cheney themselves with.
yearnyCRV Yearn Boosted Staker Launch: All You Need to Know
All the details you'll need to be fully prepared
yearnUpcoming yPRISMA YBS Staking Launch: All You Need to Know
All the details you'll need to be fully prepared
yearnEverything Must Go
Participating in Yearn Oracle-Free & Permissionless Dutch Auctions for fun and profit
Share Dialog
So, while Yearn continuously debated the merits and risks, plenty of other protocols stepped in to fill the need in the market themselves. Unfortunately, many of these products ended up just being some combination of black box, off chain, wanna be hedge fund, EOA managed, degenerately recursive cluster fucks.
big breath in
I personally learned many things from the Stream saga, but perhaps most importantly it became clear there is not only a place, but a NEED in the market for something that users could get the same benefits from, but actually be able to see, verify and trust through code.
So here we are, yvUSD is NOT a stable coin, it is a vault. It takes on risk, including duration, liquidity, bridge, leverage etc. The vault plugs in to PT's, Leverage Loops, RWA's, L2's, points and all the other catchy buzz words that get the Degen's goin. BUT, as with any Yearn product, every cent down to the last Wei can be verified and accounted for fully on chain by anyone, anywhere and at anytime. The same security practices that have made our vaults the highest caliber on the market over the past years is maintained. Risk is taken but managed, and the returns are intended to be a reflection of that.
How do?
yvUSD is built on the highly battle tested and trusted Yearn V3 code. The same code that has secured hundreds of millions in our own TVL, as well as many other high tier DeFi protocols that have used it for their own vaults such as Curve, Cap, Term and SuperForm V1.
The strategies are actually written in code (imagine that), the bridging is done through native bridges such as CCTP to reduce any external risks and duration is managed through Locked yvUSD.
Locked yvUSD allows users to opt in to "locking" (get it?) their yvUSD in return for boosted yield. When a user locks they are subject to a "cooldown" period (currently 14 days) that they will need to wait before being able to withdraw.
Having a smart contract enforced duration period means the vault allocations can be more effectively matched to the actual needs of depositors. This allows it to remain liquid for those that want liquidity, but also deploy into higher yielding strategies with the rest, and therefore getting better returns for all.
(Yes we did steal this idea from Infinifi, but I already told them so you get no points for figuring it out)
The vault will keep a buffer in high quality, very liquid mainnet strategies, such as sUSDS, to service atomic withdraws at any time for those that need it, just like our other vaults. The liquid mainnet strategies will be continuously allocated using Yearn's debt optimizer to keep earning the highest yield while maintaining full availability.
The rest of the vault will be allocated to a varying degree of higher duration or risk strategies both on mainnet or other chains. This includes PT's, leverage loops, PT leverage loops, RWA's etc. on both mainnet and abroad. On launch we support all CCTP chains but will continue to add more with native bridge options such as Katana through the Polygon zkEVM bridge soon as well.
For a full view of the vaults current assets across strategies and chains you can view the Debank Bundle here
Why Come?
As someone who has spent the past years overly obsessing about DeFi vaults, its quite strange to see the new meta so aggressively switch in that direction. Yearn created the first vaults long before I showed up and will still be cranking them out long after most of these new projects have dried up.
But not all vaults are created equal, and not all operators are either.
If you, like me, are one of the (hopefully many) DeFi users who are put off by the current state of the markets offerings; very low yields from the boring places like Aave, Morpho, and Yearn (yikes) on one hand, or black boxes with higher yields on the other, this vault may just be for you.
This is the anti black box.
No attestations needed, because you can watch the flow of funds in, out, and through since it's all onchain and enforced by code.
No "external fund managers" to lose your money, you can verify what any of the strategies can and cannot do at any time.
No manual PPS updates, you can see and track the accounting on chain as it grows in real time.
yvUSD is the DeFi native yield coin, and how farming is meant to be done.
For a long time Yearn has had too many vaults and not enough yield. It's time to change that.
LOADING.... yvBTC
So, while Yearn continuously debated the merits and risks, plenty of other protocols stepped in to fill the need in the market themselves. Unfortunately, many of these products ended up just being some combination of black box, off chain, wanna be hedge fund, EOA managed, degenerately recursive cluster fucks.
big breath in
I personally learned many things from the Stream saga, but perhaps most importantly it became clear there is not only a place, but a NEED in the market for something that users could get the same benefits from, but actually be able to see, verify and trust through code.
So here we are, yvUSD is NOT a stable coin, it is a vault. It takes on risk, including duration, liquidity, bridge, leverage etc. The vault plugs in to PT's, Leverage Loops, RWA's, L2's, points and all the other catchy buzz words that get the Degen's goin. BUT, as with any Yearn product, every cent down to the last Wei can be verified and accounted for fully on chain by anyone, anywhere and at anytime. The same security practices that have made our vaults the highest caliber on the market over the past years is maintained. Risk is taken but managed, and the returns are intended to be a reflection of that.
How do?
yvUSD is built on the highly battle tested and trusted Yearn V3 code. The same code that has secured hundreds of millions in our own TVL, as well as many other high tier DeFi protocols that have used it for their own vaults such as Curve, Cap, Term and SuperForm V1.
The strategies are actually written in code (imagine that), the bridging is done through native bridges such as CCTP to reduce any external risks and duration is managed through Locked yvUSD.
Locked yvUSD allows users to opt in to "locking" (get it?) their yvUSD in return for boosted yield. When a user locks they are subject to a "cooldown" period (currently 14 days) that they will need to wait before being able to withdraw.
Having a smart contract enforced duration period means the vault allocations can be more effectively matched to the actual needs of depositors. This allows it to remain liquid for those that want liquidity, but also deploy into higher yielding strategies with the rest, and therefore getting better returns for all.
(Yes we did steal this idea from Infinifi, but I already told them so you get no points for figuring it out)
The vault will keep a buffer in high quality, very liquid mainnet strategies, such as sUSDS, to service atomic withdraws at any time for those that need it, just like our other vaults. The liquid mainnet strategies will be continuously allocated using Yearn's debt optimizer to keep earning the highest yield while maintaining full availability.
The rest of the vault will be allocated to a varying degree of higher duration or risk strategies both on mainnet or other chains. This includes PT's, leverage loops, PT leverage loops, RWA's etc. on both mainnet and abroad. On launch we support all CCTP chains but will continue to add more with native bridge options such as Katana through the Polygon zkEVM bridge soon as well.
For a full view of the vaults current assets across strategies and chains you can view the Debank Bundle here
Why Come?
As someone who has spent the past years overly obsessing about DeFi vaults, its quite strange to see the new meta so aggressively switch in that direction. Yearn created the first vaults long before I showed up and will still be cranking them out long after most of these new projects have dried up.
But not all vaults are created equal, and not all operators are either.
If you, like me, are one of the (hopefully many) DeFi users who are put off by the current state of the markets offerings; very low yields from the boring places like Aave, Morpho, and Yearn (yikes) on one hand, or black boxes with higher yields on the other, this vault may just be for you.
This is the anti black box.
No attestations needed, because you can watch the flow of funds in, out, and through since it's all onchain and enforced by code.
No "external fund managers" to lose your money, you can verify what any of the strategies can and cannot do at any time.
No manual PPS updates, you can see and track the accounting on chain as it grows in real time.
yvUSD is the DeFi native yield coin, and how farming is meant to be done.
For a long time Yearn has had too many vaults and not enough yield. It's time to change that.
LOADING.... yvBTC
Schlag
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