Our Beta is live on the Ethereum Mainnet!

APWine Finance
Published in
4 min readFeb 5, 2021


APWINE is the first DeFi protocol to tokenize and trade future yield, now live on the Ethereum Mainnet. Deposits are now available and the first futures will start on Feb 15th. Upon the start of the futures, you will receive your Future Yield Tokens, enabling you to sell your yield in advance and perform arbitrage on the APYs our exchange platform.

A new DeFi hedging and arbitrage solution is now live on the Ethereum Mainnet

How does it work ?


To provide liquidity to the protocol you can deposit your funds in the different APWINE pools. Doing so you register your funds for the coming futures. Once a future starts, your funds (IBT) will be locked and you will generate Future Yield Tokens at the beginning of each period that you will be able to sell and exchange in the APWINE Exchange. These actual value of the yield generated during that period


You are able to withdraw your funds at any time without constraints until the period starts. It means until then you’re just registered and not locked. Once the period starts, your funds will be locked.

If you need to unlock these funds you will go through a mechanism called early unlock. This process will require you to burn the FYT generated for the current period. A small fee of the generated yield will be taken as slashing. If you sold your FYT, you would need to buy them back from the market.

Or it would be possible to sell your IBT to someone else, possibly for a discount.

! There won’t be any slashing in place during the Beta Phase of the APWINE Protocol!

Sell and Exchange

The Future Yield Tokens are ERC20 standard tokens. You can therefore use any DEX you like to trade them. To create a more liquid and featured exchange, we will introduce our exchange (derived from 0x). The APWINE exchange will be available on Feb 15th when the first futures will start and the first FYTs will be minted.

This UI is still under development and is subject to changes

Pools Available at the Moment

At the release, you will be able to deposit your aDAI, aUSDC, yUSD and yEURSCRV Interest Bearing Tokens in the respective pools.

Yearn Vaults

Yearn Vaults are liquidity pools with an associated strategy aiming to maximize returns on the asset in the vault. Vault strategies are dynamic. Most vault strategies can do multiple things to maximize the returns. These strategies are wrapped in a bearing interest token. You seamlessly use a strategy without having to do anything.

An example is the 3CRV strategy. You deposit 3Pool LP token to mint 3CRV, then those 3Pool tokens will generate CRV tokens increasing the vault balance. Those CRV are sold to buy more 3Pool tokens and then earn more CRV tokens. The more 3Pool tokens are added to the vault by selling CRV generated by your 3Pool LP tokens, the more you’ll get in 3CRV bearing interests tokens. It’s a way to simplify the user experience as you don’t need to claim and sell your CRV yourself.

The Yearn Vault supported for the beta are safe against the kind of attack that targeted Yearn’s v1 yDAI Vault on 2021–02–04.

Interest Bearing Tokens (AAVE)

When you deposit tokens on AAVE you get back the equivalent in aToken which represents the token earning interests on AAVE. Those tokens are called Interest Bearing Tokens. Their amount increases directly in your wallet with the interests generated. APWine is able to separate the interests generated from those tokens from the IBT. You can’t lose the initial aTokens while using APWine.

Coming Next

Token Release and Liquidity Mining

During the Beta Phase, there is no Liquidity Mining. The APWINE ($APW) token will be released at a later stage. APWINE Token Economics and details about the token release will be explained in an article coming in a few weeks.

More Platforms and Assets

More platforms and pools will be added continuously after the release. In the future, the APWINE DAO will vote for all the new integrations in the APWINE protocol.

We hope you enjoy this first Mainnet version of APWINE! The APWINE team greatly appreciates all of your feedback - Feel free to follow us on Twitter and join our Telegram Channel to have a chat.

For all our Winemakers, this is just the beginning of APWINE!

Cheers! 🥂

- APWINE team

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APWine Finance
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The protocol allowing you to trade unrealised yield & convert your passive income into Futures.