Introducing tetuBAL

2 min readJul 11, 2022

Discover tetuBAL, the first Tetu cross-chain strategy.

Past Successes

From the team that first introduced liquid eQi, Tetu is back to provide users with increased rewards and a liquid form of veBAL through tetuBAL.

The first rollout with tetuQi has been wildly successful, with the vault earning users ~24% APY. In fact, the introduction of tetuQi has shifted Qi vault incentives back to Polygon, with 3 out of 4 of the highest incentivized vaults being on Polygon again.

Balancer

Using this previous strategy, we have decided to offer Polygon users access to a boosted yield strategy on Balancer mainnet, without Polygon users ever having to personally bridge their assets over to Ethereum.

This new strategy has become viable since the new tokenomics updates to Balancer have rolled out. Balancer is a decentralized exchange that allows for customized liquidity, with varying weights in the pool.

tetuBAL — Boosted and Liquid.

Tetu have created a vault strategy that is simple and fruitful. By staking B-80BAL-20WETH BPT tokens in Tetu vaults, Tetu users can gain exposure to all the boosted rewards on Ethereum without ever having to bridge their assets over.

Users will also claim their rewards on Polygon in the form of tetuBAL, meaning they never have to pay a high gas fee again. All gas fees will be covered by Tetu taking a small performance fee out of the rewards, however this will decreasingly scale down as a percentage of personal earnings as more users deposit into the vault.

Additionally, the small performance fee will be a tiny fraction of what users would have had to pay to bridge their own tokens to Ethereum since Tetu can take advantage of pooling users tokens together in a single bridging transaction.

Last, but most importantly, users will now have a liquid form of veBAL through tetuBAL. This means that users will be able to use tetuBAL as collateral in other protocols that decide to accept it, or deposit tetuBAL into the tetuBAL-BPT liquidity pool on Tetu to earn additional swap fees.

From a user’s perspective, all they need to to do is:

Deposit BAL and WETH on Polygon to get the B-80BAL-20WETH BPT token
Deposit BPT token into Tetu vault for tetuBAL
Claim tetuBAL rewards weekly

Behind the scenes:

Tetu redeems the user’s BPT LP position for WETH and BAL on Polygon
Tetu bridges WETH and BAL to Ethereum mainnet
Tetu deposits WETH and BAL into BAL vault on Ethereum to receive BPT

Voting

It is possible to vote on veBAL gauge reflection votes, the voting power is provided as follows:

BPT no voting power
1 tetuBAL 100% voting power
1 veTETU power by the formula (tetuBAL balance in BPT) / (veTETU total supply)