yEarn Update - Grants, Andre's Involvement and New Strategies!

yEarn Update - Grants, Andre's Involvement and New Strategies!

By GabrielHaines | Gabriel | 29 Oct 2020


yEarn continues to be one of the top communities in the DeFi space, and we want to check in to see what they’re up to.

GRANTS

September Grant recipients can be found here and in the interest of full disclosure, I got 1,000 yUSD from yEarn for educational videos. So while this is not a sponsored video, some crypto has changed hands. Their developers are being paid well for their hard work.

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AMA — ANDRE’S INVOLVEMENT

Moments after the AMA concluded, Nomad posted the update summary. The majority of the strategies were about new strategies, which we’ll cover shortly, but a key one was about Andre Cronje’s present scope of involvement. The key part of the answer is below, and well also link his statement below that.

0*N9Cwp2SewDiXX4hn Read Andre’s explanation here.

So he’s involved, but it’s not the primary focus of his attention, as it is for the other devs and ops guys on the payroll mentioned above.

NEW STRATEGIES ON yEARN

The two new strategies that have popped up in the last couple weeks are the Gemini Dollar Vault and the curve/fi/3pool LP Vault.

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As many know, Gemini dollars (or $gUSD) is a stablecoin run by the Winklevoss twins, known from their early contributions and controversy with the founding of Facebook. They are getting into DeFi into a big way (with a penchant for the hashtag #DeFipalooza). They’ve integrated with Curve and yEarn is using that curve pool to sell the crv token and grow the vault. The astronomical APY is NOT something you should anticipate receiving over the long haul, but rather something more in the 10–20% APY range.

What about the curve.fi/3pool LP vault? It’s basically the same pool as curve.fi/y LP except it excludes tUSD from the group of stablecoins included. This was done after the team noticed that tUSD didn’t have much swap demand, so rewards should be improved by the streamlined vault. It’s not super exciting, but it’s a good yield on relatively lower risk stablecoins.

If excitement is what you’re after, check out the new Pickle Vault that’s expected shortly. The UNI-V2 WBTC/WETH pool is farming pickle and market-selling it to boost the vault value. This utilizes the underlying pickle strategy which harvests and sells UNI. You got that right, there are two tokens being farmed and auto-sold through this strategy, and your overall exposure is to BTC/ETH. This was just launched today with a $100k debt limit (meaning only $100k of funds could be deposited) so it’s currently not available for further deposits, but a public release is expected shortly. This is very innovative and the kind of aggressive move we expect from yEarn.

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Gabriel
Gabriel

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