HybridVaults are deployed! This is the scaling mechanism we've been building to grow Yield Basis beyond its current pool caps.
https://x.com/newmichwill/status/2041191941233168796
https://x.com/newmichwill/status/2041191941233168796
X (formerly Twitter)
Michael Egorov (@newmichwill) on X
HybridVaults are deployed - with WETH for +25M capacity (as a small pilot run). This will be one of the safe scaling backbones of @yieldbasis.
Vote to enable:
https://t.co/lKOeuqp3NM
Vote to enable:
https://t.co/lKOeuqp3NM
🔥9
Excited to share that Hybrid Vaults are now live on Yield Basis!
This is the first component to be deployed on the scaling roadmap. Yield Basis pools have consistently hit their capacity limits within minutes of every cap raise. Hybrid Vaults is the first step to answer to that demand, built to let the protocol scale without compromising on the stability of crvUSD.
The concept is simple:
1. LPs deposit crvUSD alongside their crypto asset (starting with WETH), and the vault creates personal deposit capacity beyond the existing pool caps.
2. The crvUSD is staked into scrvUSD, earning stablecoin yield.
3. The crypto is deposited into the YB pool like it would if you were to deposit directly into the pool.
Every new deposit directly supports the crvUSD peg by increasing the demand for crvUSD. This is what allows YB to safely grow beyond the base caps.
The first market is WETH with $25M in additional deposit capacity. We'll be expanding to more markets and adjusting caps through DAO governance as we evaluate how the Hybrid Vaults perform in prod.
https://x.com/yieldbasis/status/2041439264068546609
This is the first component to be deployed on the scaling roadmap. Yield Basis pools have consistently hit their capacity limits within minutes of every cap raise. Hybrid Vaults is the first step to answer to that demand, built to let the protocol scale without compromising on the stability of crvUSD.
The concept is simple:
1. LPs deposit crvUSD alongside their crypto asset (starting with WETH), and the vault creates personal deposit capacity beyond the existing pool caps.
2. The crvUSD is staked into scrvUSD, earning stablecoin yield.
3. The crypto is deposited into the YB pool like it would if you were to deposit directly into the pool.
Every new deposit directly supports the crvUSD peg by increasing the demand for crvUSD. This is what allows YB to safely grow beyond the base caps.
The first market is WETH with $25M in additional deposit capacity. We'll be expanding to more markets and adjusting caps through DAO governance as we evaluate how the Hybrid Vaults perform in prod.
https://x.com/yieldbasis/status/2041439264068546609
X (formerly Twitter)
yieldbasis (@yieldbasis) on X
hybrid vault for eth has passed governance and is finally live!
you can participate in a new chapter of @yieldbasis
we are still so early.
join the story
https://t.co/CfpDc7orAZ
you can participate in a new chapter of @yieldbasis
we are still so early.
join the story
https://t.co/CfpDc7orAZ
❤18💩1
Reminder for veYB holders to vote on proposals 37-43
https://x.com/yieldbasis/status/2057560626906681543
https://x.com/newmichwill/status/2057794483903709647
https://x.com/yieldbasis/status/2057560626906681543
https://x.com/newmichwill/status/2057794483903709647
X (formerly Twitter)
yieldbasis (@yieldbasis) on X
long awaited moment
governance voting for @yieldbasis v3 pools deploy is now live.
vote for the future:
https://t.co/ZIjEMEpsgS
governance voting for @yieldbasis v3 pools deploy is now live.
vote for the future:
https://t.co/ZIjEMEpsgS
👍6🫡3❤1👀1
Good monday, V3 is live on Ethereum mainnet and migration to the new pools has started!
https://x.com/yieldbasis/status/2058844373983584529
https://x.com/yieldbasis/status/2058844373983584529
X (formerly Twitter)
yieldbasis (@yieldbasis) on X
migration has started.
all @yieldbasis LPs should take action.
you can migrate normally, no rush.
• migration is now available and recommended for btc markets. if you have positions, they will appear automatically in [MY MARKETS] -> choose pool -> MIGRATE…
all @yieldbasis LPs should take action.
you can migrate normally, no rush.
• migration is now available and recommended for btc markets. if you have positions, they will appear automatically in [MY MARKETS] -> choose pool -> MIGRATE…
🔥10
New proposal out, please vote if you have veYB
https://x.com/newmichwill/status/2062094263668576542
https://x.com/newmichwill/status/2062094263668576542
X (formerly Twitter)
Michael Egorov (@newmichwill) on X
Hotfix for some withdrawal errors observed @yieldbasis (and more proper allocation of crvUSD for the markets).
Please vote if you have veYB!
https://t.co/iCPq4CniJY
Please vote if you have veYB!
https://t.co/iCPq4CniJY
👍3👀2
One more related proposal is out, please vote if you have veYB
https://x.com/newmichwill/status/2062487203154964954
https://x.com/newmichwill/status/2062487203154964954
X (formerly Twitter)
Michael Egorov (@newmichwill) on X
And one more related vote guys, also fast quorum would be very very appreciated https://t.co/M6GWG5xgcT
Proposal to relax hybrid vault requirements. Reducing crvUSD needed from 55% to 45%
https://x.com/newmichwill/status/2063917836989301141
https://x.com/newmichwill/status/2063917836989301141
X (formerly Twitter)
Michael Egorov (@newmichwill) on X
A vote to relax HyridVault requirements for @yieldbasis. Just 45% of your crypto deposit value (down from 55%) is needed
https://t.co/Kt0a1zXnLW
https://t.co/Kt0a1zXnLW
🔥5
Proposal 49 passed, Hybrid Vaults are now more capital efficient reducing crvUSD requirements from 45% to 55%
https://x.com/yieldbasis/status/2064297938017505668
https://x.com/yieldbasis/status/2064297938017505668
X (formerly Twitter)
yieldbasis (@yieldbasis) on X
proposal 49 passed fast
thx everyone for the active governance voting.
as a result, all @yieldbasis hybrid vaults now provide higher capital efficiency for depositors:
→ 1 crvUSD now unlocks ~$2.2 deposit capacity instead of $1.81 (+22.6%)
thx everyone for the active governance voting.
as a result, all @yieldbasis hybrid vaults now provide higher capital efficiency for depositors:
→ 1 crvUSD now unlocks ~$2.2 deposit capacity instead of $1.81 (+22.6%)
👌7👍1
Research being done on the effects of incentives whenever crvUSD is below peg
https://x.com/newmichwill/status/2068834855769510081
https://x.com/newmichwill/status/2068834855769510081
X (formerly Twitter)
Michael Egorov (@newmichwill) on X
Did anyone study how pools react on incentives, how quickly and in which capacity?
🔥3👀2👍1
Yield basis protocol financials and migration update
https://x.com/yieldbasis/status/2070108774166089974
https://x.com/yieldbasis/status/2070108774166089974
X (formerly Twitter)
yieldbasis (@yieldbasis) on X
Yield Basis: Protocol Financials, Migration Update and some alpha
👍3🔥2
Proposal 50 passed, increasing pool cap of WETH by $5M
https://x.com/yieldbasis/status/2074058983954858480
https://x.com/yieldbasis/status/2074058983954858480
X (formerly Twitter)
yieldbasis (@yieldbasis) on X
proposal 50 passed
+5m capacity is now open in @yieldbasis wETH pool
ETH LPs can now access the updated single-sided v3 pool
capacity is limited:
https://t.co/sNB4pSAvl6
+5m capacity is now open in @yieldbasis wETH pool
ETH LPs can now access the updated single-sided v3 pool
capacity is limited:
https://t.co/sNB4pSAvl6
🔥10👏3👍1
cbBTC pool balanced out, opening up around 5% space available for deposits (which is around $2M).
It also means that it will probably be earning fees better in the coming days
https://x.com/newmichwill/status/2075519195433840715
It also means that it will probably be earning fees better in the coming days
https://x.com/newmichwill/status/2075519195433840715
X (formerly Twitter)
Michael Egorov (@newmichwill) on X
Just like WBTC pool did, cbBTC pool at @yieldbasis also balanced out, opening up around 5% space available for deposits (which is around $2M).
It also means that it will probably be earning fees better in the coming days
It also means that it will probably be earning fees better in the coming days
👍1
scaling is coming
proposal #51 allocates part of YB fees to a strategic reserve for crvUSD stability
it is used only when needed through merkl incentives
https://x.com/yieldbasis/status/2078057223427948546
proposal #51 allocates part of YB fees to a strategic reserve for crvUSD stability
it is used only when needed through merkl incentives
https://x.com/yieldbasis/status/2078057223427948546
X (formerly Twitter)
yieldbasis (@yieldbasis) on X
scaling is coming
proposal #51 allocates part of YB fees to a strategic reserve for crvUSD stability
it is used only when needed through @merkl_xyz incentives
https://t.co/BQg43pCkVo
proposal #51 allocates part of YB fees to a strategic reserve for crvUSD stability
it is used only when needed through @merkl_xyz incentives
https://t.co/BQg43pCkVo
🔥8❤2
Proposal #51 passed: the strategic reserve is live
https://x.com/yieldbasis/status/2079281433017745449
https://x.com/yieldbasis/status/2079281433017745449
X (formerly Twitter)
yieldbasis (@yieldbasis) on X
m00n?
more updates incoming
more updates incoming
🔥4