Gloom

Co-founder & Lead Full Stack Developer at @shiftprotocol_

[Gloom @gloom0x0]

✨

[ggmxbt @ggmxbt]

One good thing of our vaults is that you are getting paid to farm points. We do not have the highest points turnout rate (we prioritize a balanced approach between yield and points) but all of our users got consistent > RFR yields (in some case 2x, 3x RFR) plus points.

And if you are a point maxi, you can always go all in our YTs.

[SHIFT Protocol @ShiftProtocol_]

As soon as Extended will have completed its migration to Arc, we will complete the deployment of extUSD v2 on Arc.

extUSD v2 will not just be a redeploy of extUSD, but it will come with more efficiency, higher yields, and more features, as it adopts the new Shift Vault model.

[ggmxbt @ggmxbt]

sometimes, simple things work the best

[SHIFT Protocol @ShiftProtocol_]

Inside Shift's most popular vault: ltLLP

Lighter's LLP market-making vault is one of the most popular yield products. However, accessing it and optimizing the returns are not always trivial.
To access LLP, users need also to buy and stake LIT, adding token exposure and another position to manage.
Shift's vault, ltLLP, brings those steps into a single product, expanding LLP's yield and granting its depositors optimized LLP access. Lighter's returns, made better, and automated management. ltLLP is designed for users who want LLP exposure with the staking and hedging work handled inside the product.

Shift's Track Record
Shift's ltLLP vault accrued over the course of its 224 days of existence an average lifetime APY of 9.57%, delivering a 5.76% ROI since inception to its day 1 depositors, with a minimal maximum drawdown.

How does ltLLP work?
ltLLP automatically manages the stake of LIT needed to access LLP, buying it, staking it and hedging it in order to achieve two results:
unlock the maximally optimal LLP allocation, given LLP target allocation and LIT basis returns;
manage the risk around LIT hedging in face of market volatility.
Returns come from LLP performance, LIT staking rewards, and funding on the LIT short. Funding can be received or paid, so it can add to returns or reduce them. Fees and execution costs also affect the result. Any points should the vault accrue, would be passed through in full to the depositors. ltLLP depositors are also eligible for Shift Points.

[SHIFT Protocol @ShiftProtocol_]

And if you don't want to deal with getting the yield yourself, we have an automated vault for it!

[SHIFT Protocol @ShiftProtocol_]

Weekly Update:

Super week for hibaUSD as a large price discrepancy allowed for a very profitable arbitrage.

[SHIFT Protocol @ShiftProtocol_]

hibaUSD: another power-up

In these months we carefully observed @KappaLab_io Hibachi Vault performance and management and after a very solid summer track record, we're ready to integrate it in hibaUSD.

From now on, hibaUSD will allocate a dynamic portion of its NAV (5-10%) to KappaLab's MM Vault on Hibachi. This will result in more diversified revenue engines for the vault, which will become less dependent on funding rates volatility.

[SHIFT Protocol @ShiftProtocol_]

shiftEUR update: borrowing asset and performance fluctuations

On September 7, shiftEUR changed its borrowing asset on Aave Plasma from USDe to USDT0, the form of USDT used on Plasma.

This followed @Token_Logic 's proposal and the subsequent borrowing-rate increases implemented through Aave’s Risk Stewards.

At migration, USDe borrowing cost approximately 5.31% APR, versus 4.29% for USDT0. Switching reduced financing costs and helped preserve the strategy’s net yield.

Critically, the change also affects how the share price moves. Previously, much of the price movement cancelled out because both the collateral’s underlying value and the Plasma debt were linked to USDe.
The strategy now holds sUSDe while borrowing USDT0, making it more sensitive to small differences between USDe and USDT prices.

This works in both directions.

A stronger USDe price relative to USDT generally supports the share price; a weaker USDe price generally reduces it, all else equal. Leverage amplifies these differences, while different oracle update times can make individual movements more pronounced.
Reported APY can consequently move in both directions too. APY calculated from share-price performance includes valuation changes alongside earned yield and borrowing costs. Annualising a short period can turn a small price movement into a much larger positive or negative APY reading. That reading is not a forecast of future returns.

Our review found that the recent recurring swings are largely explained by this valuation mechanism. They are expected under the updated strategy and do not indicate an operational problem.
Over the long run, given we expect USDT and USDe to keep floating tightly around the $1 peg, these oscillations will become minor compared to the yield accrued.

[RISE @risechain]

Glad to see a market-neutral strategy running on the RISEx book, with its yield now split and traded on Pendle.

[SHIFT Protocol @ShiftProtocol_]

New Pendle Pool: risexUSDC

We just launched our new Pendle Pool featuring risexUSDC, our @risextrade market neutral strategy, leveraging both

Maturity: 27th Dec 2026

LP earn 8x Shift Points, 1.3x Rise Points
PT capture both risexUSDC yield and additional fixed yield, while YT capture all Rise Points accrued by the corresponding vault shares.

At current prices, YT earn 62x RiseX Points and PT earn 15.08% Total APY.

As a reminder, the initial liquidity in the pool is limited (25% of the total vault), so if you're looking to trade PT/YT, we recommend to check the price impact and if meaningful, do the following steps:
1. Deposit in risexUSDC
2. Mint PT+YT via risexUSDC, instead of zapping directly
3. Sell the component that you do not want (sell PT into SY or YT into SY)

This will allow you to minimize the price impact compared to trading directly.

Access the Pendle Pool and Markets in Shift -> Tools -> Pendle Market: https://t.co/eBH0ROe1PW

[SHIFT Protocol @ShiftProtocol_]

Shift Referral System: Revamped

We applied some changes to our referral system, based on the user feedbacks we collected in the past weeks.

Now:
- both the user referring and the user getting referred receive a 20% Shift Points bonus
- when the referring user qualifies for the additional bonus via @ethos_network they will also receive that bonus, cumulatively

Who is eligible for a referral link?
Only onboarded users with an Ethos score of 1,400+ on at least one linked EVM wallet receive an active referral link.
If you do not fit the requirements, but you think you should have a referral link, you can always reach out on Discord!

[SHIFT Protocol @ShiftProtocol_]

hibaUSD Power Up

Our @hibachi_xyz hibaUSD vault is 5 months old and is steadily on track for 9.6%+ APR based on lifetime returns.
So we thought how we could make it even better.

From today, hibaUSD leverages Robinhood Lighter to hedge Hibachi positions: users will also earn Lighter Points.

[SHIFT Protocol @ShiftProtocol_]

We officially closed the first week of operativity: 14.04% APR delivered to day-one depositors!

[SHIFT Protocol @ShiftProtocol_]

Another week, another APY update

ltLLP delivered an outstanding performance this week, reaching almost triple digits thanks to LLP gains and the exceptionally high funding on LIT.

vGRVT and risexUSDC also passed the 10% mark, while extUSD stays stable at around 8%.

[RISEx @risextrade]

17.6% effective APY in week one, against a 10.6% expected return.

risexUSDC gives passive capital a clean route to fully onchain basis trade on RISEx and XLP vault. Built on @risechain

[SHIFT Protocol @ShiftProtocol_]

Exactly 6 days ago, our risexUSDC vault went live.

Since then:
- the first cap was filled in 25 minutes
- risexUSDC vault effectively became the fourth Rise Chain DeFi venue by TVL, behind @risextrade, @Icarus_Fi and USDR.
- in the first days, the vault delivered an effective average of 17.6% APY, beating the expected return of 10.6%, thanks to XLP outperformance.

This is only the beginning.

[SHIFT Protocol @ShiftProtocol_]

only on @arbitrum

[ggmxbt @ggmxbt]

It's a good start.
In the last year we experimented a lot with various formats, venues, platforms and risk management frameworks.

Going forward we're going to be much more selective and focused on perfecting our product line, and it's thanks to responsive and professional teams like @risextrade, @apoorv1 and @sashaaa that decisions like these are possible.

[Gloom @gloom0x0]

@0xGeeGee @chaoslabs 🫡

[SHIFT Protocol @ShiftProtocol_]

New Week, New APYs

with our latest entry, risexUSDC leveraging @risextrade, delivering the highest APY on par with shiftEUR, for EURC holders.

risexUSDC was launched yesterday, we're just getting things started