Yield Update: For the first time in months, @yieldbasis has open capacity greater than just a few thousand dollars.
The cbBTC vault currently has the most open capacity.
See how its been peforming over the last month below 🧵
The concentrated liquidity problem @newmichwill says is DeFi's core challenge:
"Moving ticks in Uniswap v3/v4: lossy. Curve FX pools: also lossy, but managed."
"@yieldbasis uses same pools, removes impermanent loss, requires automatically managed concentrated liquidity."
Why Forex Is The Biggest Opportunity in Stablecoins with @yieldbasis Founder @newmichwill:
Timestamps
00:00 Intro
01:49 Stablecoin Landscape Today
03:56 Curve's Original Design
05:44 Non-USD Stablecoin Debate
07:40 Fintechs Driving FX Demand
09:34 Spread Needed For FX
12:31
ok since nobody else is going to say it, let me walk through what’s actually happening with $YB
look at the chart. wick up, instant snap back down. It’s not weakness. It’s what accumulation looks like on a thin book. someone buys size, blows through the asks, price spikes, then
Just like WBTC pool did, cbBTC pool at @yieldbasis also balanced out, opening up around 5% space available for deposits (which is around $2M).
It also means that it will probably be earning fees better in the coming days
@yieldbasis supply insight:
- Over 10% of the theoretical $YB supply is already locked (103M vs. 1B)
- veYB has absorbed 100% of all emitted $YB
Breakdown:
- Emissions: 42.0M (LPs) + 10.1M (Curve licensing) = 52.1m
- User locks (excluding team & investors): 61.0M YB
- Net
proposal 50 passed
+5m capacity is now open in @yieldbasis wETH pool
ETH LPs can now access the updated single-sided v3 pool
capacity is limited:
yieldbasis.com/earn
proposal #50 is live
once approved by governance:
+5m ETH capacity will open in the v3 pool.
veYB holders, your vote matters:
yieldbasis.com/proposal/50
LPs, be ready.
the window won't stay open for long.
Proposal to raise WETH @yieldbasis pool cap by a tiny bit ($5M).
Very soon though, we will present a research and solution how to do unbounded raises of the pool caps in ways safe for crvUSD and the protocol.
New @yieldbasis milestone:
- $4B of cumulative swaps
- $35m of swap fees in underlying Curve pools
- $4m admin fees (3.98m+1.9k pending to claim)
Live stats👇
Five months ago, the February market selloff and the launch of @yieldbasis revealed areas where the $crvUSD ecosystem could be improved.
The peg wasn't breaking, it remained very close to $1 but temporary deviations of several basis points (tens of bps at the largest moves) and
