Yearn State of the Vaults #25
Week ending April 11th, 2021
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. For a general overview of our yVault products check out our yVault page or for more advanced users and developers we have a yVaults documentation page.
News 📢
Yearn TVL has passed $2.5 billion 📈
Yearn has seen massive growth throughout the last 30 days with over 1 billion in assets added to the protocol, close to double the previous all-time high. Yearn now has over $2.5 billion in assets earning yield across all its products.
v2 yVault tokens on C.R.E.A.M. 🍦
A proposal has been made to add ten v2 yVault tokens to @CreamdotFinance, enabling users to borrow against interest-bearing yVaults.
The proposal by @qosmonot, @dudesahn, & @lehnberg, discusses listing the following Yearn Finance v2 yVault tokens as collateral: yvYFI, yvDAI, yvUSDC, yvUSDT, yvWETH, yvWBTC, yvBOOST(coming soon!), yvCurve-IronBank, yvCurve-sETH, and yvCurve-stETH.
The proposal can be viewed on Cream’s governance forum here, and the vote is currently live on their Snapshot.
YIP for airdrops to Yearn yVaults 💸
A Yearn Improvement Proposal (YIP-60), by @lehnberg formalizes how airdrops to Yearn yVaults are to be handled moving forward. In summary, tokens that are worth the effort, will be sustainably claimed and swapped for the token that is deposited into the vault, thus boosting the returns of the vault.
New weekly yVault report ✔️
We will now be publishing a weekly yVault report to give more transparency into the performance of our vaults. Follow our Twitter @iearnfinance to see the weekly report.
This past week depositors earned 76% of the revenue generated from our vaults. While our top-performing vault is yvUSDN earning a reported ~73% APY.
Maker raises YFI debt ceiling 🔝
The vote to raise the YFI debt ceiling at Maker has passed! This will increase the max amount of DAI able to be minted with YFI from 45 million DAI to 75 million DAI, almost doubling the current amount, which is currently at max capacity. The vote has passed and will be executed on April 11th.
Vault Updates
This week, a new strategy has been attached to the v2 DAI yVault.
v2 DAI yVault (yvDAI)📺
✨PoolTogetherDaiStablecoin
Supplies DAI to the PoolTogether protocol to farm POOL. Rewards are harvested, sold for more DAI, and deposited back into the vault. If it gets the prize of the week it will also be added to the vault.
Useful Yearn Links 🔗
- Yearn: yearn.finance
- Analytics: yearn.science, yearn.vision
