SHIFT Protocol

vGRVT is LIVE for Deposits Our vault built on @grvt_io is now open for deposits on @arbitrum A few reminders about the strategy: - it earns GRVT Points and 2x Shift Points - it leverages both GLP and standard delta neutral trading - it accepts deposits in USDT/USDT0

$hibaUSD vault is now at capacity. If it keeps performing like in the last few weeks (> 20% APY) we will slightly increase the cap. In the meantime, you can also take a look at our other larger capacity vaults! We feature: - Extended - GRVT - Lighter All (but Lighter) come with extra points!

@WilcosX @hibachi_xyz There is a cap!

@ShiftProtocol_ @hibachi_xyz 300% bonus staying? ok now we’re talking. what’s the catch when everyone piles in though

It's time for some Yields and Points. Shift will maintain its 300% Bonus @hibachi_xyz Points for hibaUSD depositors even in the upcoming season. Last week APY was 22.51%.

The article gives me the opportunity of talking about a few things that actually matter: 1) mNAV self-reporting (or even delayed 3rd party) is a liability. As strategy managers the north star has to be: make this as readable, certain, and transparent as possible without leaning on "trust me". This is not always possible depending on the strat, at least not in a real-time and easy way, but that's the standard we should all be chasing. Anything short of that and you're asking the user to trust the pipeline. 2) A strategy can lose money, and it's fine. As a strategy manager, you define the risk profile of the strategy. The risk MUST match reality. As long as the stated risk profile is respected, it's fine to have drawdowns and normal. If drawdowns become the normalty though, maybe there is something wrong with the strategy itself and that can be worked on! There is no "need" or there should be no need to "cook the numbers", just follow the plans after making sure that the users understand it. If the users signed up for a 30% junior tranche, you shouldn't rush to wipe the losses under the rug. 3) Role separation sounds increasingly clean only on paper. Publisher (Hyperbeat), manager (UltraYield), infra (Upshift). Each owns a lane, so when it breaks you know who to blame, right? Except that's rarely how it plays out. We've seen the same dance in Aave's recent stuff: SPs bouncing it between each other, sometimes with defamation thrown in for good measure (because why not). At some point you start wondering if the whole "specialized roles" thing is less about operational excellence and more about having a ready-made excuse to unload responsibility when the music stops. 4) The Hard Part of Strategies The real hard part in yield isn't sourcing the alpha. Alpha is out there if you actually look. Infra is another problem, but a solvable one (although we personally are far from solving it, in terms at least of optimized UX). The thing that separates the ones that last from the ones that don't is ops and execution: the fees, the slippage, the trading venue downtime, liquidity shrinking, funding changing, volatility, the inevitable 3am black swan. Let's hope that all the recent events will teach all of us a better lesson, and best of luck to Hyperbeat, which at least from what surfaced publicly, seem to be trying to do the right thing.

Clearly the current numbers are out of historical averages for crypto funding. The good news are that with the increased level of sophistication of the instruments available in DeFi we will soon start rationalizing our product offering and adding diverse products: - EUR denominated - Forex carry - Pure price arbitrage vaults - DAT based strategies May is to consolidate, June to expand

Most ecosystems list apps. @risechain assembles a system. Execution (@risextrade) Capital (@yearnfi, @Icarus_Fi) Data (@eigen_da, @StorkOracle) Strategy (@spineprotocol, @ShiftProtocol_) This is what it takes to run markets, not just build apps. 🧵

SBSecurity 🤝 @ShiftProtocol_ V2 audits done Shift V2 brings better vault standards, cleaner flows, and a fast withdrawal mechanism. We went through it all to make sure it ships safe. Happy to be Shift's Official Security Partner and be part of what's coming next.

@FIRE_withcoin Normally to redeem PT extUSD you just need to head to: Shift - Pendle Pools - Expired (link: shiftprotocol.xyz/pendle/shift-e…) and then follow the standard redeem procedure with your PT

@ShiftProtocol_ How to close matured extUSD pendle postion? It only has withdrawal button here.

@droowgs @risechain to redeem PT extUSD you just need to head to: Shift - Pendle Pools - Expired and then follow the standard redeem procedure with your PT

@ShiftProtocol_ @risechain How to close the PT extUSD position?

Shift in May May will be an improvement, consolidation and finalization month for Shift. After a busy few weeks, our priority is to make the current stack stronger, cleaner and easier to scale before pushing the next phase of the roadmap. What we are working on: 1. @risechain vault deployment we are preparing the launch of the Rise Trade vault, adding another venue and strategy profile to the Shift ecosystem. This vault will have a differentiated profile from our current offering. 2. extUSD @Starknet migration as the Pendle Pool expired, we will wait to renew it to perform the Starknet migration. This is one of the most important upcoming improvements for extUSD. Moving the underlying collateral to Starknet should materially improve extUSD’s efficiency: higher potential yield (thanks to the yield bearing BTC), less capital dispersion thanks to smoother rebalancing/deposit/withdrawal flows on/from @extendedapp. --> from a user standpoint, no immediate action will be required. 3. Security and operational rehaul Given the recent wave of security incidents across the space, we are tightening the screws around our internal operations. We already use hardware wallets and dedicated signing devices for managerial transactions, but there is always room to improve. 4. v2 migration preparation The v2 audit with SB Security is now completed, and we are in the final practical testing phase before deployment. v2 brings better vault standards, improved first-interaction UX, cleaner deposit/withdrawal flows, and a fast withdrawal mechanism for users who do not want to wait 7 days or rely on external DEX liquidity. In May, we will gradually start preparing and executing v2 migrations where it makes sense. 5. Team expansion There has been some delay in onboarding our newest team member due to bureaucracy, but he will finally start in May. This should help us move faster across product, integrations and execution. We are already testing multiple new directions, including an EUR vault, forex carry strategies, the first ETH-denominated vault, and more DeFi-native products. May is about making Shift sturdier. Then we accelerate.

@cchungccc @hibachi_xyz Nice Byakuya picture! If you’re interested in farming some Hibachi points, what about trying out our hibaUSD vault? The vault gives you 300% extra bonus points on top of passive yield. Come take a look 👀 Hibachio 🔥

Chung Daily Note - 2026/4/28 Happy Tuesday! 💡@hibachi_xyz regular season ends April 30 with 51.5M points in circulation Some highlights from today's note 🔸Trump administration is set to unveil a Strategic Bitcoin Reserve plan soon 🔸Sen. Cynthia Lummis says crypto market structure legislation could pass in May Read More Below 👇 --- 📰 News • Trump administration is set to unveil a Strategic Bitcoin Reserve plan soon • Sen. Cynthia Lummis says crypto market structure legislation could pass in May • Colombia’s largest pension fund invests in Bitcoin via BlackRock’s IBIT • Jack Dorsey’s Block Inc. added 114 Bitcoin in Q1, bringing its treasury to 8,997 BTC and total holdings to 28,355 BTC • Polymarket plans to bring its main exchange to the U.S., pending CFTC approval --- 📖 Good Reads • @a16zcrypto - The new stack for global finance: Stablecoins edition • @Solofunk - The Hitchhiker's Guide to Onchain Credit --- 🎉 New Protocols • @papercliping • @isometricfi --- 💰 Crypto Fundraising • @liquidtrading (Exchange) - 18m Series A led by @neo @leftlanecap --- 💵 Airdrops •Binance announces the @USDai_Official $CHIP HODLer airdrop --- 💡Videos & Podcasts • @milesdeutscher - This Interview Made My Next Crypto Buys Obvious [Haseeb] • @therollupco - Cathie Wood: We Are Still In The Early Days Of Digital Assets All news links are on my Telegram 🫡

@SmartDropFarmer @hibachi_xyz If you’re interested in cooking with Hibachi, what about trying out our hibaUSD vault? Receive passive yield and extra 300% bonus Hibachi points 🔥 Hibachio ❤️

Week 14 - @hibachi_xyz Update 🔸19,040 Total points 🔸+2,430 this week 🔸$500K volume this week 🔸Rank: 110 (81 weekly) April closes. Points phase → completed (for me). What now? → Reducing volume heavily → Staying mostly idle → Keeping default exposure (GAV) Unless something changes I’m waiting for: - Playoffs structure - New farming mechanics - Clear roadmap updates There’s speculation about a June TGE… but that’s just speculation for now. Everything depends on what the team announces next. Plan - No more active farming. - Only reacting to new info. Hibachio

@Robsvr @variational_io @grvt_io @extendedapp @StandX_Official @etherealdex You can farm both GRVT and Extended with Shift! Our vaults give you passive yield + additional bonus points. Our GRVT vault provides you 30% extra bonus points, come check it out 👀

Top-5 PerpDEX without their own token by current OI! 1. @variational_io -> $ 670m 2. @grvt_io -> $ 500m 3. @extendedapp -> $ 312m 4. @StandX_Official -> $ 133m 5. @etherealdex -> $ 109m Interesting, right? Even though GRVT is #1 by 30d volume, they are top-2 by OI. Are you farming any of it? OI leaderboard is really different from the volume leaderboard. Why? Because it's easier to get high volume, but making high OI is much harder. By OI versus volume you can approximately understand if volume is real or not.

@Alucad_99 You can have access to 3 of the listed ones with Shift: our GRVT, Extended and Hibachi vaults give you passive yield and extra bonus points (300% with Hibachi and 30% for GRVT) Feel free to take a look 👀

PerpDex projects: - Hibachi - Liquid - Cascade - GTE - treadfi - Bullpen - Hotstuff - Decibel - RISEx - Vest - Dreamcash - StandX - Variational - 01xyz - Ethereal - Nado - QFEX - RISEx - Ostium - Pacifica - Ranger - Extended - Zetarium - Grvt - AntX - TubroFlow - Titan exchange - Based - Kyan - Reya - MemeMax - Perpl - Astros - Flipster - bulk Which one are you on?

@VietnamPenguin @grvt_io So it’s a good time to get more exposure to GRVT 🤔 What about earning 30% extra bonus GRVT points while getting passive yield with Shift’s GRVT vault? 👀

By the way, you can actually quantify how much @grvt_io is cooking. Season 1 airdrop = 10% of GRVT (already locked, allocations visible). For example: I did $1.32M in volume and got 0.01188% of the airdrop. Cost me $252 (not classic volume farming, more like weekend retard trading). Now the math: 0.01188% × 10% × $ 225M FDV = $2,673 That’s roughly a 10x on cost. Yeah… this airdrop is definitely cooking.

i'm gonna be honest i love vaults if you think defi is dead, go show a defi vault to a tradfi boomer and see what happens

@i_liu25 @hibachi_xyz 300%つながりで、ShiftのhibaUSDも今ちょうど300%ポイント還元やってます。もしご興味があれば、ぜひチェックしてください👀

頑張ったら最初の12人に入れたので頑張ってよかったですうううううう 私みたいな素人が入れちゃうので穴場だったのかも🔥 ステーブルでAPR300%超えはあちあち @hibachi_xyz 👇リファです hibachi.xyz/r/LAXIAE6YDM

@UBClD8rCsJ86992 @hibachi_xyz Hibachiにご興味があれば、ShiftのhibaUSDだと今300%ポイント還元やってるので、ぜひチェックしてみてください👀

hibachi(@hibachi_xyz )のFLPvaultについて📝 ✅ポイント獲得上位10%のウォレットリストを毎週公開 →現在の順位に基づき、これらのユーザーはFLPの割り当て対象となってる ✅割り当て日はまだ発表されてない (割り当てが確定するまでは対象資格は継続) →ポイントの獲得に伴い、順位は週ごとに変動し、順位を上げるユーザーもいれば、対象外となるユーザーもおり、新たに資格範囲に入るユーザーも出てくる GAVは毎週のpoint上位者に入金期限1週間のアロケーションをくれる形でしたが、FLPは週毎に変動するランキング形式で、アロケーション確定の時までに上位10%(240位)に入ってる必要がありそう？

@Defi_Warhol @Polymarket @megaeth @base @Theo_Network @Rabby_io @nansen_ai @Dreamcash @trylimitless @variational_io @nadoHQ @grvt_io @0xProbable @hibachi_xyz @pacifica_fi GRVT and Hibachi are both available on Shift! Receive passive yield while earning extra points: 30% bonus points with our GRVT vault and 300% with our hibaUSD vault 🥂

Tier list of potential upcoming TGEs. S-tier: @Polymarket @megaeth (confirmed Apr 30) @base @Theo_Network A-tier: @Rabby_io @nansen_ai @Dreamcash @trylimitless @variational_io @nadoHQ @grvt_io @0xProbable B-tier: @hibachi_xyz @pacifica_fi . . F-tier: (0 reasons for a token) @MetaMask @opensea If there was a lower tier than F, I would put @Photon_Labs and @TrojanOnSolana there for dragging out their TGE this long.

@gabup77 @hibachi_xyz @tradehotstuff It’s a great time to try out Shift’s hibaUSD vault! Get 300% Hibachi extra bonus points while receiving passive yield 😁 Hibachio 🔥

Yo homies, if you are looking for new opportunities in the DEX farming meta, keep an eye on @hibachi_xyz and @tradehotstuff For people wanting to start doing mainnet tasks and actually work quality DEX projects, these feel worth exploring. Why I’m paying attention to these projects: • Early stage opportunities often reward early users the most • Mainnet activity > mindless testnet farming • Trading, volume, swaps and protocol usage can build strong onchain footprint • DEX focused ecosystems still feel underfarmed compared to crowded narratives Sometimes the best opportunities are not the loudest ones. Could be solid plays for farmers hunting the next wave 👀 Anyone already farming Hibachi or Hotstuff?