Yearn State of the Vaults #23
Week ending March 28, 2021
Written by @dudesahn, @ceazor, & @qosmonot
Overview
Welcome to the State of the Vaults — a weekly newsletter summarizing yVault-related updates, newly launched yVaults and vault strategies. For complete vault descriptions and the actions (strategies) these vaults are performing, please visit The Vaults at Yearn.
News 📢🐦
Iron Bank yVault Launches!
The first vault comprised of tokens lent out on Iron Bank has launched! You can easily zap into this vault with any token in your wallet thanks to our zapper integration.
YFI rescue ⛑️
banteg & @bigdataprotocol have managed to retrieve rewards that had gotten stuck in the farm (>11,000 BDP tokens and nearly 1 YFI). The tokens have been swapped and redistributed to the v2 YFI yVault.
Yearn TVL Growth 📈
Yearn total Value Locked (TVL) is seeing massive growth and has passed the previous TVL all time high seen in September 2020. You can find the Yearn daily historical TVL chart and API on yearn.science.
Vault Updates
This week, one new v2 Curve vault has been launched, using interest-earning stablecoins from the Iron Bank (cyDAI, cyUSDC, and cyUSDT) as underlying assets. A new strategy has also been attached to the v2 YFI vault.
✨ New Vault — v2 Iron Bank Curve yVault (yvCurve-IB)
✨StrategyCurveIBVoterProxy
This vault accepts deposits of ib3CRV tokens obtained by supplying either cyDAI, cyUSDC, or cyUSDT to the liquidity pool on Curve here in exchange for ib3CRV tokens. ib3CRV are staked in the gauge on Curve.finance to earn CRV rewards. Rewards are swapped for one of the underlying assets and resupplied to the liquidity pool to obtain more ib3CRV.
This Curve liquidity pool has a special feature where the underlying tokens, ie cyDAI, are interest-earning, as they are obtained by lending on C.R.E.A.M. (Iron Bank), and participate in growing liquidity often utilized for borrowing by other Yearn vaults.
✨ New Vault Strategy — v2 YFI yVault (yvYFI)
✨StrategySynthetixRewardsGeneric
This strategy can be adapted to harvest many farming opportunities that arise. This week, the strategy is farming the Float Protocol by depositing YFI to the YFI Phase 2 Pool to earn BANK rewards. Rewards are swapped for YFI and added back to the vault.
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- yVaults Holdings/Deposited/Withdrawn — Dune Analytics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
