yieldbasis

I will use YieldBasis to fix my overexposure. I’ve spent years going too heavy into BTC and running out of stables during drawdowns. @yieldbasis will fix this by forcing a stablecoin position that uses to earn yields above risk-free rates. The TVL retention narrative was not real at all until now. The TRD penalty is near zero at the moment, and liquidity isn't leaving. The market mechanics now work both ways: > Pumping: TRD is minimal. Withdraw, liquidate, done. > Dumping: Stables free up. Use them to buy the dip. I don't know how long it will take for them to integrate other assets like gold, but if they do, it will bring real depth to markets that are not liquid onchain yet.

RT @Ceazor7: This project @yieldbasis has been in prod for ~ 7 months> it offers BTC and ETH holders a way to earn more of their asset wi…

Today, our Growth Manager Alex (@Alexchen823_ ) is honored to invite Michael (@newmichwill ), CEO of Curve (@CurveFinance ) and YieldBasis (@yieldbasis ), to discuss.... 👀 What's the future DeFi Rule book that would reduce hack threats, and what's wrong in our industry, how can we prevent it? 👀 What's the future of DeFi combined with RWA and AI? 👀 Roadmap about Curve and YieldBasis Our interview article will be published in a few days. Please keep following our updates.

@newmichwill @tulipacapital @HypernativeLabs please read carefully - this is NOT RELATED to @yieldbasis. no impact on the protocol. all funds are safe, as always.

Our friends at @tulipacapital and @HypernativeLabs alerted us about something strange happening on chain with @yieldbasis pool positions moving. We or any other of our users are totally UNAFFECTED but smart contracts of a project which was experimenting with building on top was. They were notified immediately. We love our users and try to help them to stay safe whenever we can!

Earlier today, Tulipa Capital identified unusual on-chain activity involving @yieldbasis (YB) contracts. The YB team was alerted within minutes of detection. What we know so far: - An attacker deployed a custom contract to claim fees and drain assets from 3 vaults - ~$1.25M in wrapped BTC (cbBTC, WBTC, tBTC) was extracted - The affected vaults appear to be owned by @giddydefi YB core contracts are not affected or at risk. The exploit targeted individual vault positions, not the protocol itself.

there was a brief window to enter fear is high pools filled quickly again DeFi is alive true believers are always rewarded thx everyone for the support

@newmichwill (:

Ohshi, someone used 15% of WBTC pool as I was typing this

There was briefly some space to enter cbBTC pool at @yieldbasis but it is now gone. wBTC pool still has some availability. Some people who borrowed BTC wrappers seem to unwind positions on Aave due to all the events and unfavorable borrow rates

So let me start. DeFi is the future of the World Financial System. That's my belief, and this is why we are here. This amount of absolutely preventable hacks we see in DeFi (with root causes attributable to CENTRALIZED points of failure) is enormous recently. This damages out industry, and I build for this industry. So I cannot remain silent. Imagine an average grandma (mass adoption is here?) putting her life savings on Aave. And then BOOM, she cannot withdraw her funds on Monday. Aave (the biggest DeFi protocol btw) said it's operating as intended - just rsETH got exploited. rsETH said that all code is safu - just LayerZero bridge got hacked. LayerZero (the biggest bridge securing quarter of a trillion $) said that everything operating as intended. Yet, she cannot withdraw here funds. WTF? Are we industry of clowns? But here's the thing. All issues like this should be prevented BEFORE they happen, not AFTER. Number of single points of failure should be reduced, not increased. When these points of failure are unavoidable - trust should be split. If there's a reliance on infrastructure - we should share best practices how to configure it. Not to mention that code should be very well checked - everyone gets that already. We should probably come together and develop safety standards for DeFi. How to build safely, and how to verify safety. Probably everyone should bring their best practices, and the projects, auditors and risk assessment groups should know them. Maybe we need @ethereumfndn and @SolanaFndn bringing all the ecosystem projects to participate and come up with principles, rules and recommendations of safe building. And, perhaps, we can even learn something about protecting the few remaining centralized points of failure from traditional finance who have many more of those. DeFi will win

The timing was terrible, but the rebuild is perfect. @yieldbasis launched during a rough market, but they're using this phase to build the foundation they needed from day one. The Hybrid Vault is live to strengthen their stablecoin, and there's a new ETH market with room to deploy. My question is whether existing strategies will require stable deposits going forward. TRD is dropping fast as well with the recent changes: > cbBTC and WETH are at 5% > @TheTNetwork BTC is at 4% At 5% TRD, staying in range neutralizes the exit penalty in roughly 2-3 months, not bad. So if we're sideways for the next few months, that's enough time to consolidate these positions. And if the market starts moving up by year-end, they'll have a stable infrastructure and vaults ready to scale properly. I've been disconnected for a bit, so if anyone has clarity on the requirements, I'd appreciate it @llamaintern @newmichwill

@yieldbasis pool is the biggest AMM pool in the world ($cbBTC - $crvUSD) with $174m TVL Not only for $BTC, not only on @ethereum: across all assets & rollups.

@vasily_sumanov @ethereum 👀

Curious thing: * If you enter when pools are imbalanced - you need more crvUSD. If TRD is -1%: you need 2% more crvUSD. If TRD is -15%: you need 32% more crvUSD when entering. Good for peg! * If you enter when pool are imbalanced - you can earn TRD back. E.g. entering at TRD=-15% and waiting till TRD=0 makes you realize +15% profit. A curious feature some might not know

Excited to share that Hybrid Vaults are now live on @yieldbasis This is the first component to be deployed on the scaling roadmap. Yield Basis pools have consistently hit their capacity limits within minutes of every cap raise. Hybrid Vaults is the first step to answer to that demand, built to let the protocol scale without compromising on the stability of crvUSD. The concept is simple: 1. LPs deposit crvUSD alongside their crypto asset (starting with WETH), and the vault creates personal deposit capacity beyond the existing pool caps. 2. The crvUSD is staked into scrvUSD, earning stablecoin yield. 3. The crypto is deposited into the YB pool like it would if you were to deposit directly into the pool. Every new deposit directly supports the crvUSD peg by increasing the demand for crvUSD. This is what allows YB to safely grow beyond the base caps. The first market is WETH with $25M in additional deposit capacity. We'll be expanding to more markets and adjusting caps through DAO governance as we evaluate how the Hybrid Vaults perform in prod. From @newmichwill himself, "1 year from now we will think oh, how primitive was it when we just started", as we look to scale Yield Basis responsibly Deposit now → yieldbasis.com/earn Full breakdown → x.com/yieldbasis/sta…

hybrid vault for eth has passed governance and is finally live! you can participate in a new chapter of @yieldbasis we are still so early. join the story yieldbasis.com/earn/hybrid/0x…

@vasily_sumanov soon

Hybrid Vault is a core innovation for @yieldbasis scaling. And it goes live now.

Interesting about this one: - Those who haven't migrated the oldest pools will actually be able to now at any time; - If you enter when TRD is large - you earn this TRD for yourself when it goes to zero. Interesting way to earn a bonus. So please vote, we are almost there for the fast execution of the vote!