Overview
To help consolidate information in a single place, we created State of the Vaults–a weekly update that will include yVault-related updates from the previous week as well as more in-depth information about the actions (strategies) these vaults are performing.
- If you’re looking for a guide on using the yVaults, check out some of our fantastic docs–including how to use a yVault and how to mint yUSD.
- If you’re looking for current ROIs (annualized returns) on the yVaults, you can view the official stats here–with many more ways to visualize this data available in the links at the bottom of this page.
- If you’re interested in an overview of everything going on in the Yearn ecosystem, subscribe to Yearn’s weekly newsletter here.
- One of the critical components of Yearn’s infrastructure includes a collaborative relationship with Curve.fi. Several Yearn vaults provide liquidity into Curve pools and stake the liquidity provider tokens into the respective gauges, earning CRV rewards. Yearn locks a portion of these CRV rewards into the voting escrow module on Curve to obtain an additional, amount of CRV rewards. In the strategy descriptions at the end of the post, we will supply the current boost level multiplier indicated with the 🚀. For a deeper understanding, refer to the Understanding Curve Boost Multipliers section below.
Vault Updates 🏦
BADGER + YFI
BadgerDAO and Yearn will work collaboratively to provide the most innovative and secure BTC vaults in decentralized finance (DeFi). Additionally, new BTC vaults developed under this partnership will rely less on BADGER & DIGG rewards to generate yield for depositors.
A first collaborative vault will be launched soon which will be a single-asset WBTC vault. Badger will also migrate the existing CRVRENBTC Super Sett vault (currently $291M TVL) to Yearn’s v1 crvRENBTC yVault.
Curve raising A’s
A vote by the Curve DAO to increase the Amplification Coeffecifient A parameter has passed for the following three Curve liquidity pools: stETH pool, USDN Pool, and the 3pool. The increase of the Amplification Coeffecient will occur gradually over one week. This will increase the effectiveness and profitability of the pools.
You can read the Curve.fi docs to learn more about what the Amplification Coefficient is and how it is determined.
LDO rewards extended
LDO reward distribution has been extended for an additional 30 days for the stETH pool.
🍄 grow on yearn
The Mushrooms.finance team is building vaults on yearn, starting with a WBTC vault. This vault is experimental and will likely be refined before final release.
DAI reimbursement airdrop
Anyone that withdrew from the exploited yDai pool has now also been reimbursed and airdropped DAI.
Current Vault Strategies 📝 and Weekly APYs 📈
- A reminder that v2 yVaults are able to employ multiple strategies per vault (up to 20 strategies simultaneously), unlike v1 yVaults that are only able to employ one strategy per vault. 📺
- The format of each entry has been modified to accommodate the new v2 Vaults. Each entry will start with the vault name followed by the share token in (). Under this we supply a hyperlinked name of one of the strategies that links to the smart contract on etherscan. This strategy name is followed by a short description of the strategy. Additional strategies, where applicable are then listed in the same manner. The most recent APYs for each respective vault are listed below, however, these rates may fluctuate and are used as an estimation.
- Vaults that employ strategies on Curve.fi lock 10% of the CRV earned into our yveCRV-DAO vault (“Backscratcher”). The remaining 90% of the CRV earned is sold into one of the underlying assets in the vault, and re-deposited into the pool. The only exception is the yvUSDN3Crv vault that locks 50% of the CRV earned into the Backscratcher vault and sells the remaining 50% for one of the underlying assets in that vault.
veCRV-DAO yVault (yveCRV-DAO)
AKA-Backscratcher 📺
This vault converts your CRV into yveCRV, earning you a continuous share of Curve fees. The more converted, the greater the rewards. Every Friday, these can be claimed from the vault as 3Crv (Curve’s 3pool LP token).
Depositing is non-reversible: You can only convert CRV into yveCRV, as the CRV is perpetually staked in Curve’s voting escrow. All vaults send 10% of farmed CRV to this vault to sustain boost levels.
🚀 Curve boost is currently enabled at 1.42x
💰 Current APY: 71.44%
v2 USDC yVault (yvUSDC)
StrategyGenericLevCompFarm 📺
Supplies USDC on Compound and borrows an additional amount of USDC to maximize COMP farming. Flashloans are used to obtain additional USDC from dYdX in order to gain additional leverage and boost the APY. Earned COMP is harvested and sold for more USDC and re-deposited into the vault.
StrategyAH2EarncyUSDC
Description: Lends USDC on Alpha Homora v2 to generate interest. Users of Alpha Homora borrow USDC to perform leveraged yield-farming on Alpha’s platform.
StrategyIdle 📺
Description: Supply USDC on IDLE.finance to farm COMP and IDLE. Rewards are harvested, sold for more USDC, and deposited back to the vault.
💰 Current APY: 21.79%
v2 HEGIC yVault (yvHEGIC)
StrategyHegicETH,
StrategyHegicWBTC,
StrategyLenderYieldOptimiser 📺
These three strategies work together to alternatively use HEGIC to buy ETH or WBTC lots on HEGIC.co. While the vault is building up the required 888,000 HEGIC needed to buy a lot, it lends it out on C.R.E.A.M to earn interest. The vault also keeps a buffer of HEGIC in reserve for withdrawals earning interest in CREAM.
💰 Current APY: 5.50%
v2 DAI yVault (yvDAI)
StrategyGenericLevCompFarm 📺
Supplies DAI on Compound and borrows an additional amount of DAI to maximize COMP farming. Flashloans are used to obtain additional DAI from dYdX in order to gain additional leverage and boost the APY. Earned COMP is harvested and sold for more DAI and re-deposited into the vault.
StrategyAH2EarncyDAI
Lend DAI on Alpha Homora v2 to generate interest. Users of Alpha Homora borrow USDC to perform leveraged yield-farming on Alpha’s platform.
💰 Current APY: 17.27%
v2 WBTC yVault (yvWBTC)
StrategyIdle 📺
Supply WBTC on Idle.finance to earn COMP and IDLE. Rewards are harvested, sold for more WBTC, and deposited back into the vault.
💰 Current APY: N/A
v2 sETH yvault (yveCRV)
StrategyCurveEcrvVoterProxy 📺
This vault accepts deposits of eCRV tokens obtained by supplying either ETH or sETH to the liquidity pool on Curve here. eCRV tokens are staked in the gauge on Curve to earn CRV.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 22.19%
v2 Curve STETH Pool yVault (yvsteCRV)
StrategystETHCurve 📺
This vault accepts deposits of crvSTETH tokens obtained by supplying either ETH or stETH to the liquidity pool on Curve here. crvSTETH are staked in the gauge on Curve.finance to earn CRV and LDO rewards. Rewards are sold for WETH, resupplied to the stETH pool on Curve in exchange for more crvSTETH.
🚀 Curve boost is currently NOT enabled for this strategy.
💰 Current APY: 26.83%
v1 Curve mUSD Pool yVault (yvmusd3Crv)
StrategyCurvemUSDVoterProxy
This vault accepts deposits of crvMUSD obtained by supplying either mUSD, DAI, USDC or USDT to the liquidity pool on Curve here. crvMUSD tokens are staked in the gauge on Curve to earn CRV and MTA rewards. 90% of CRV and all of the MTA earned are sold for one of the underlying assets and re-deposited into the pool.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 39.73%
v1 Curve YPool yVault (yUSD)
StrategyCurveYVoterProxy
This vault accepts deposits of yCRV obtained by supplying either DAI, USDC, USDT or TUSD to the liquidity pool on Curve here. yCRV tokens are staked in the gauge on Curve to earn CRV.
🚀 Curve boost is currently enabled at 1.33x
💰 Current APY: 30.62%
v1 Curve GUSD Pool yVault (yvgusd3CRV)
StrategyCurveGUSDVoterProxy
This vault accepts deposits of crvGUSD obtained by supplying either GUSD, DAI, USDC or USDT to the liquidity pool on Curve here. crvGUSD tokens are staked in the gauge on Curve to earn CRV.
🚀 Curve boost is currently enabled at 2.06x
💰 Current APY: 63.40%
v1 Curve AAVE Pool yVault (yva3CRV)
StrategyCurvea3CRVVoterProxy
This vault accepts deposits of crvAAVE obtained by supplying either aDai, aUSDC or aUSDT to the liquidity pool on Curve here. crvAAVE tokens are staked in the gauge on Curve to earn CRV.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 59.54%
v1 USDC yVault (yUSDC)
StrategyUSDC3pool
This vault deposits USDC into the 3pool on Curve.fi here. The 3Crv tokens are then deposited into the Curve 3Pool yVault.
💰 Current APY: 24.75%
v1 Curve DUSD Pool yVault (yvdusd3CRV)
StrategyCurveDUSDVoterProxy
This vault accepts deposits of crvDUSD obtained by supplying either DUSD, DAI, USDC or USDT to the liquidity pool on Curve here. crvDUSD tokens are staked in the gauge on Curve to earn CRV and DFD.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 38.97%
v1 WETH yVault (yvWETH)
StrategyMKRVaultDAIDelegate
Users deposit ETH, which is used to mint DAI from MakerDAO. DAI is then deposited into our v1 yDAI vault, which earns CRV. CRV is periodically harvested, sold for more WETH and re-deposited into the vault.
💰 Current APY: 2.67%
v1 Curve USDN Pool yVault (yvusdn3CRV)
StrategyCurveUSDNVoterProxy
This vault accepts deposits of crvUSDN obtained by supplying either USDN, DAI, USDC or USDT to the liquidity pool on Curve here. crvUSDN tokens are staked in the gauge on Curve to earn CRV. 50% of these CRV rewards are locked as veCRV (to boost returns). The remainder is sold for one of the underlying assets in the vault and re-deposited back into the pool.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 61.45%
v1 Curve Compound Pool yVault (yvcDAI+cUSDC)
StrategyCurveCompoundVoterProxy 📺
This vault accepts deposits of crvCOMP tokens obtained by supplying either DAI or USDC to the liquidity pool on Curve here. crvCOMP tokens are staked in the gauge on Curve to earn CRV.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 54.43%
v1 Curve UST Pool yVault (yvust3CRV)
StrategyCurveUSTVoterProxy
This vault accepts deposits of crvUST obtained by supplying either UST, DAI, USDC or USDT to the liquidity pool on Curve here. crvUST tokens are staked in the gauge on Curve to earn CRV.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 40.36%
v1 Curve 3pool yVault (yv3Crv)
StrategyCurve3CrvVoterProxy
This vault accepts deposits of 3Crv obtained by supplying either DAI, USDC or USDT to the liquidity pool on Curve here. 3Crv tokens are staked in the gauge on Curve to earn CRV. 90% of CRV rewards are sold for one of the underlying assets and re-deposited into the pool.
🚀 Curve boost is currently enabled at 1.65x
💰 Current APY: 24.46%
v1 Curve oBTC Pool yVault (ycrvoBTC)
StrategyCurveOBTCVoterProxy
This vault accepts deposits of crvOBTC obtained by supplying either oBTC, renBTC, wBTC or sBTC to the liquidity pool on Curve here. crvOBTC tokens are staked in the gauge on Curve to earn CRV and BOR. 90% of the CRV and all of the BOR rewards earned are sold for WBTC and re-deposited into the pool.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 3.91%
v1 Curve sBTC Pool yVault (ycrvRenWSBTC)
StrategyCurveBTCVoterProxy
This vault accepts deposits of crvRenWSBTC obtained by supplying either renBTC, wBTC or sBTC to the liquidity pool on Curve here. crvRenWSBTC tokens are staked in the gauge on Curve to earn CRV.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 4.82%
v1 Curve sUSD Pool yVault (yvcrvSUSD)
StrategyCurvesUSDVoterProxy
This vault accepts deposits of crvSUSD tokens obtained by supplying either SUSD, DAI, USDC or USDT to the liquidity pool on Curve here. crvSUSD are staked in the gauge on Curve.finance to earn CRV and SNX rewards.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 73.10%
v1 USDT yVault (yUSDT)
StrategyUSDT3pool
This vault deposits USDT into the 3pool on Curve.fi here. The 3Crv tokens are then deposited into the Curve 3Pool yVault.
💰 Current APY: 19.51
v1 Curve hBTC Pool yVault (yvhCRV)
StrategyCurveHBTCVoterProxy
This vault accepts deposits of crvHBTC obtained by supplying either hBTC or wBTC to the liquidity pool on Curve here. crvHBTC tokens are staked in the gauge on Curve to earn CRV.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 31.92%
v1 Curve pBTC Pool yVault (ycrvpBTC)
StrategyCurvePBTCVoterProxy
This vault accepts deposits of crvPBTC obtained by supplying either pBTC, renBTC, wBTC or sBTC to the liquidity pool on Curve here. crvPBTC tokens are staked in the gauge on Curve to earn CRV and PNT. 90% of the CRV and all of the PNT rewards earned are sold for WBTC and re-deposited into the pool.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 4.66%
v1 Curve EURS Pool yVault (yveursCRV)
StrategyCurveEURVoterProxy
This vault accepts deposits of eursCRV tokens obtained by supplying either EURs or sEUR to the liquidity pool on Curve here. eursCRV are staked in the gauge on Curve.finance to earn CRV and SNX rewards.
SNX rewards are not currently being sold as we are upgrading the vault to enable this functionality. In order benefit from the additional SNX rewards, please do not withdraw from the vault until the update is complete.
🚀 Curve boost is currently enabled at 2.12x
💰 Current APY: 59.38%
v1 Curve tBTC Pool yVault (ycrvtBTC)
StrategyCurveTBTCVoterProxy
This vault accepts deposits of crvTBTC obtained by supplying either tBTC, renBTC, wBTC or sBTC to the liquidity pool on Curve here. crvTBTC tokens are staked in the gauge on Curve to earn CRV.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 7.51%
v1 Curve HUSD Pool yVault (yvhusd3CRV)
StrategyCurveHUSDVoterProxy
This vault accepts deposits of crvHUSD obtained by supplying either HUSD, DAI, USDC or USDT to the liquidity pool on Curve here. crvHUSD tokens are staked in the gauge on Curve to earn CRV.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 55.86%
v1 TrueUSD yVault (yTUSD)
StrategyTUSDypool
Thıs vault deposits TUSD into the Y Pool on Curve here. The resultant yCRV are then deposited into the Curve Y Pool yVault.
💰 Current APY: 23.88%
v1 Curve bBTC Pool yVault (ycrvbBTC)
StrategyCurveBBTCVoterProxy
This vault accepts deposits of crvBBTC obtained by supplying either BBTC, renBTC, wBTC or sBTC to the liquidity pool on Curve here. crvBBTC tokens are staked in the gauge on Curve to earn CRV.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 44.21%
v1 DAI yVault (yDAI)
StrategyDAI3pool
This vault deposits DAI into the 3Pool on Curve here. The 3Crv tokens are then deposited into the Curve 3Pool yVault.
💰 Current APY: 15.99%
v1 Curve BUSD Pool yVault (yvcrvBUSD)
StrategyCurveBUSDVoterProxy
This vault accepts deposits of crvBUSD obtained by supplying either BUSD, DAI, USDC or USDT to the liquidity pool on Curve here. crvBUSD tokens are staked in the gauge on Curve to earn CRV.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 71.89%
v1 Curve AnkrETH Pool yVault (yvankrCRV)
StrategyCurveAnkrVoterProxy
This vault accepts deposits of crvANKR obtained by supplying either ETH or ankrETH to the liquidity pool on Curve here. crvANKR tokens are staked in the gauge on Curve to earn CRV.
🚀 Curve boost is currently enabled at 2.50x
💰 Current APY: 16.61%
v1 aLINK yVault (yaLINK)
StrategyVaultUSDC
This vault deposits aLINK as collateral on Aave to borrow USDC. The USDC is deposited into the v1 USDC yVault. Profits are harvested and used to buy additional LINK, deposited as collateral on Aave to borrow aLINK and deposited back into the vault.
💰 Current APY: 4.27%
v1 Curve renBTC Pool yVault (yvcrvRenWBTC)
StrategyCurveRENVoterProxy
This vault accepts deposits of crvRenBTC obtained by supplying either RenBTC or WBTC to the liquidity pool on Curve here. crvRenBTC tokens are staked in the gauge on Curve to earn CRV.
🚀 Curve boost is currently enabled at 2.5x
💰 Current APY: 4.55%
v1 mStable USD yVault (yvmUSD)
StrategymUSDCurve
This vault deposits mUSD into the mUSD/3Crv pool on Curve here. The crvMUSD is then deposited into the Curve mUSD Pool yVault.
💰 Current APY: N/A, new vault has yet to call harvest
v1 Ethereum yVault (yvETH)
StrategyMKRVaultDAIDelegate
Users deposit ETH, which is used to mint DAI from MakerDAO. DAI is then deposited into our v1 yDAI vault, which earns CRV. CRV is periodically harvested, sold for more ETH and re-deposited into the vault.
💰 Current APY: 2.67%
v1 LINK yVault (yLINK)
💰 Current APY: 2.14%
⚠️ Deposits for this vault are currently disabled. Please use the yaLINK vault above instead.⚠️
What’s brewing 🧪
There are several experimental vaults being tested at yearn.rocks. The section below gives a brief overview of the strategies employed within these vaults. These vaults are experimental in nature, may contain bugs that result in loss of user funds, therefore we urge depositors to use caution interacting with these vaults. We are not responsible for any adverse events that may occur within these vaults.
v2 Creamy Swords SNX (yvSNX) 🍦⚔️
StrategyLenderYieldOptimiser
This test vault lends SNX on Cream.Finance to generate interest.
The vault is currently 6% full and has a max deposit limit of 2,000 SNX.
v2 1INCH Little Horse (yv1INCH) 🤏🐴
Strategy1INCHGovernance
This test vault stakes your 1INCH tokens into the 1Inch governance rewards contract and compounds your rewards.
The vault is currently 28% full with a max deposit limit of 9,058 1INCH tokens.
v2 WETH Gen Lender (yvWETH) 🧬💰
StrategyLenderYieldOptimiser
This test vault lends assets across multiple lending platforms including Compound, Cream, Aave, dYdX, and Alpha Homora. Keep3r bots check if positions can be changed to earn more yield.
The vault is currently 2% full with a max deposit limit of 400 WETH
v2 WETH Iron Lender (yvWETHIB) 🦾💰
StrategyLenderYieldOptimiserIB
This test vault lends WETH to the Iron Bank (C.R.E.A.M v2) for interest and compounds it.
The vault is currently 49% full and has a deposit limit of 10 WETH.
v2 sUSD Idle (yvSUSDIL) 🏆⚔️
StrategyIdleidleSUSDYield
This test vault deposits sUSD to Idle.Finance to farm IDLE. IDLE is harvested and sold for more sUSD and redeposited into the vault.
The vault currently has a deposit limit of 50,000 sUSD.
v2 SpadaVault (yvWBTC) s🦡
SingleSidedCrvWBTC
This experimental vault balances 5 strategies:
1 - Generic Lender, that puts funds in the highest APR lending platform (Compound or Aave),
2-3 - Single Sided Curve, changing between the Curve single sided BTC pools (for instance HBTC Pool…),
4 - Idle.Finance, that deposits WBTC to Idle.Finance to farm IDLE which farms Compound,
5 - Mushrooms.Finance that farms MMToken.
The vault is currently 10% full with a max deposit limit of 10.0 WBTC.
v2 Mushroom Worker (yvExptWBTC) 🍄🧑🌾
StratMushroomsytWBTCV1
This experimental vault supplies WBTC to mushrooms.finance to farm MMToken. MM is harvested, sold for more WBTC and redeposited to the vault.
The vault is currently 79% full with a max deposit limit of 2.0 WBTC.
v1 Lido St. Ether Vault (yvstETH) 👼🏦
This experimental vault is takes ETH as a deposit and converts it to stETH. This vault has advantages over using lido.fi in that it is a wrapper for Lido stETH and uses underlying shares instead of balances which can change outside transfers.
📢 When you transfer and deposit, your ETH will be converted into stETH 1:1 and deposit in the vault. You will not be able to redeem stETH for ETH until txs are enabled on ETH 2.0.
v2 St. Ether — ETH Pool (yveSTECRV) 💧🎱
StrategystETHCurve
🚨 This vault has been moved to production. Please withdraw all funds 🚨
Understanding Curve 🚀 Boost Multipliers
Using the crvCOMP pool, as an example, liquidity providers earn approximately 12.82% APY in trading fees, and an additional 24.72% APY (as of the date of this publication) in the form of CRV rewards, if they stake their liquidity provider tokens in the Curve gauge.
Depositors are able to boost the CRV rewards earned by locking CRV into the voting escrow module, with a max boost of 2.5x. This size of the boost is dependent on the amount of CRV locked in the voter escrow, and the size of the deposit in the liquidity pool, however, this calculator is useful in modeling potential boost multipliers. The max boost for the crvCOMP pool yields an addition 61.81% APY in the form of CRV rewards, which is displayed below.
Yearn stakes the Curve liquidity provider token into the gauge to earn CRV rewards. 10% of these rewards are locked in our yveCRV-DAO vault (described above) to boost the rewards of all yVaults with Curve strategies.
Useful Vault Links 🔗
- yVaults Holdings/Deposited/Withdrawn — Dune Analytics
- Recycler — zap multiple stablecoins into the yUSD Vault in one transaction
- Estimate future yVault ROI
- Calculate Governance and yVault APYs (and calculate current yUSD value)
- View current ROI, TVL, and strategies several ways: Yearn stats, stats.finance, feel-the-yearn, yearn.party, yVault-ROI
- Use the yearn.tools API to view APYs, contract info, as well as boost info for relevant yVaults
