Fees in @yieldbasis do not reach veYB until the pool has paid itself back first. Most holders never see that switch. It explains almost every "why am I earning nothing" question. There is no payout in a YB pool. You get paid by one share becoming worth more. Fees push that up, rebalancing and BTC drawdowns push it back down. Every pool keeps a running record of how far the staked side has slipped behind. While that number is above zero, all incoming profit goes into closing it and the DAO takes nothing. What that means depending on where you are: • In the pool, not staked. Nothing is being skimmed off you right now. Every cent the pool earns lands in your share value, including the part that will go to the DAO later. • Staked. Same share value, plus YB emissions. The switch does not touch emissions either way. • Locked into veYB. You are the one waiting. No fee income from that pool until the record hits zero. One pool right now, as an example: it is 0.16% short. What is holding it is that the pool's money is bunched 13.2% behind where BTC trades, and it walks back in small steps paid out of the same profit. Your 0.16% closes only after that bill is paid. Once it closes, 48.8% of everything after starts flowing to the DAO side. That share climbs with how much of the pool is staked (67.6% today) and never drops under 10%. Nothing for you to do. Fees outrun the bill, the switch flips.

Parameters for @coinbase cbBTC and @TheTNetwork tBTC to earn more, similar to WBTC, are being voted in. If you have veYB - vote here: If you are @CurveFinance voter - complimentary vote here:

the moment we were waiting for! TRD is basically 0%. all remaining ETH v2 @yieldbasis LPs: now is the time to migrate. migration conditions are finally optimal! you can find it in “my markets” one click ->move to v3

Oracle for using yb-positions as lending collateral is audited by @chain_security. Builders can find live audited oracles here by ENS addreses: wbtc.oracles.yieldbasis.eth (and similar for cbbtc, tbtc, weth)

more yield for @WrappedBTC following the @CurveFinance upgrade, proposal #54# updates @yieldbasis WBTC pool parameters to improve liquidity handling and significantly increase trading APR. other btc pools are next. vote:

Voting in @CurveFinance parameters for a WBTC @yieldbasis pool (vote in YB DAO follow). This vote can allow average APR to get up by factor of 2 while keeping the pegs even more safe (will be applied to all other pools also)

ethereum:0x01791f726b4103694969820be083196cc7c045ff is my highest conviction investment. @yieldbasis is a next-gen DeFi protocol that’s allows individual LPs and vault curators to earn high apy on BTC and ETH. It uses an automated leveraged strategy on top of the next-gen Curve FxSwap pools to earn trading fees with no impermanent loss. This allows vault curators to provide better yield for BTC and ETH without worrying about managing liquidity rebalancing with lending platforms. Vaults are one of the fastest growing domains, but their yield is capped by borrowing demand. This will bring billions of TVL to YieldBasis pools. YB earns a share of all those fees and can drive incentives to specific pools. What happens when vault curators compete on the collaterals? Yield Wars (Curve Wars 2.0) Both FXswap and YieldBasis will be formally verified. This will create the only immutable, formally verified, way vaults can provide deterministic, auto compounding APY with low maintenance. YieldBasis is going to eat these passive flows and create the deepest secondary liquidity market in crypto. ethereum:0x01791f726b4103694969820be083196cc7c045ff will probably get to $5-6 easily.

In @YieldBasis, depositors choose the yield path: trading fees or YB emissions. It's a free market choice.  When more capital chases one path, the other side rebalances. Market forces push the two advertised rates toward each other.

Yield Basis is a more genius idea than most people realize. I was going through a post by @Diphunter18 on crvUSD where he shared more on how it generates its demand. Being in the industry and building Pharos, I get to see the models of almost every stablecoin and the reality is that most founders focus on building demand through how much is minted and who is integrating it. The more interesting question is what makes someone want to borrow in the first place. With @llamalend, users can open crvUSD positions without actually selling their collateral. They unlock liquidity from it while keeping their underlying exposure. @yieldbasis opens up that opportunity for BTC holders. With BTC down roughly 50% from its highs, OGs and maxis do not want to let go of their positions. Users provide BTC liquidity and use borrowed crvUSD to increase their position size. That single strategy simultaneously creates borrowing demand, expands crvUSD supply, and deepens liquidity in the pool. Every user running that loop is doing three things for the ecosystem at the same time. I checked yieldbasis/earn and not surprisingly, WETH and cbBTC have already reached full capacity. Opportunities are still available (just) with tBTC. Simple yet rigidly brilliant strategies like these are genuinely what makes me so pro Curve ecosystem, as I have written about many times before.

here animation for @yieldbasis $YB - timeline how emissions go and how locks go. You can see long term veYB locks cover and even more than new emissions to market. team tokens not include here, they auto go to lock.

Scaling potential with Yieldbasis is huge. Target audience is passive LPers, not interested in IL or checking price of emissions token. One can simply autocompound their principal asset - $btc and/or $eth. I’m sure more assets will come. $YB