π§βπ» DeFi trader π°, NFT lover π¨, and blockchain advocate π. Living in the digital revolution. Letβs break free from tradition and innovate together π.
BTC yield might be crypto's most broken product category.
Aave: 0.01-0.03% APY
Restaking: slashing risk, L2 lockups, questionable sustainability
AMM LPs: impermanent loss
The risk-reward rarely makes sense.
@yieldbasis takes a different approach β eliminating impermanent loss through leveraged LP rebalancing on Curve.
Backtested returns: 10-20% APY with 1:1 BTC price tracking.
Holy grail or too good to be true?
My full analysis covers:
- Mechanism deep-dive
- Tokenomics & unlock schedule
- Valuation (FDV/Earnings)
- Bull, bear, base case scenarios
- crvUSD stability risk assessment
Read the complete breakdown:
https://t.co/ygHAs39jqJ
A HUGE Update
Yield Basis had an issue with scaling because of it's impact on crvUSD where pegkeepers were being overworked resulting in a more volatile crvUSD rate, therefore, strict caps were in place.
Hybrid vaults aim to solve this:
- In order to deposit into yb vaults, users must first deposit crvUSD into a seperate vault, the hybrid vault to help the demand side for external crvUSD
- Based on your deposit, a 2.5x multiple is applied to determine how much BTC you can deposit. For example, 10,000 crvUSD, means $25k worth of BTC
- The crvUSD is converted to scrvUSD and earns yield too
You can think of this like duel staking, in order to earn the yield on BTC, you need to contribute some crvUSD
Why is it a big deal?
- YB should be able to scale much faster now, expecting $500m+
- crvUSD supply is going to go up only
- Llamalend is going to be the chepeast market to borrow from in DeFi
Fantastic alignment between @yieldbasis and @CurveFinance too
25% APR on Bitcoin is the new standard.
YieldBasis is proving that you don't need to sell your Bitcoin to beat the market.
The data from the first 57 days is impressive.
If you had been in the cbBTC pool since the start, youβd be sitting on a 3.55% return. Annualized, thatβs a 25% APR on native BTC.
The most interesting part is how this strategy cushions the downside:
> BTC dropped from $101,260 to ~$90,000 during this period.
> However, the ybcbBTC (interest-accumulating version) is valued at $94,300.
This means your drawdown is significantly lower because of the accumulated interest.
For those looking for even more aggressive numbers, the staked version of cbBTC is yielding a 32.15% APR.
In this case, you would accumulate governance tokens instead of auto-compounding interest.
I personally prefer the auto-compounding version for the "set and forget" efficiency, but both setups are really nice.
@yieldbasis is basically making "holding" look like a sub-optimal strategy.
π§ͺ DisclaimerCoin Airdrop
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The $DONT airdrop is now available for eligible users.
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π’ KTA Distribution Update
Keeta has finalized the next $KTA distribution cycle. Participants can now review allocation details and eligibility information directly through the official portal.
π https://t.co/v17huL5jPD
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$ZIG Ecosystem Rewards Are Live π
The new round of ZigChain rewards has been released. All users meeting the activity criteria can now access their $ZIG allocations. Stay active more reward phases are on the way.
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