Discussion on yvecrv v crv

Is there an ongoing discussion somewhere around ideas for how to encourage yvecrv to trade closer to crv, or even discussions around why that would or wouldn’t be a valuable goal for yearn’s ecosystem?

one potential idea could be if the UI dynamically routed (or at least warned) people entering yvBOOST etc to purchase rather than mint when pricing was favorable. Good for holders, good for newcomers (who otherwise might immediately see a significant drop in the value of their crv)

apologies if this isn’t the right place to post

3 Likes

I support this discussion idk if it’s going on! I’ve been looking into yvBOOST to write articles about it and I found out that:

  1. sometimes buying yvBOOST/yveCRV from the market is cheaper than locking/depositing, which makes CRV locking into yveCRV a bad move instead of buying it from the market

  2. yveCRV seems to have little to no usage because yvBOOST gets the bribing rewards and the only benefit of holding yveCRV is receiving the rewards as 3crv instead of extra yvCRV in the yvBOOST vault (which again gets the bribe rewards while the 3crv doesn’t)

I feel like we should help better newcomers understand how to get into yvBOOST without falling in a game-theory trap! Like a zapper that knows the best route

3 Likes

The crv/yvecrv/yvboost mechanism does require a very high barrier of understanding for beginners.

1 Like

Whilst Evo is not wrong I’d argue that there are many that don’t the time/desire/capacity to learn the detail. Those that have 10k for example and look at rates and just throw it into the Boost because the APY is higher. For me I don’t understand why anyone would go into the others…. given, by that point, they are in Labs and digested the Not For Ants piece.

I feel like we should help better newcomers understand how to get into yvBOOST without falling in a game-theory trap! Like a zapper that knows the best route

yeah to me this feels really important. Having beginners get their principal slashed by minting into a vault with a high apy at the top of the page is … bad ux at best. Plus funneling them to buy rather than mint when the price is below par helps keep the vault floating closer to par. I guess it’s marginally worse for the protocol bc it isn’t acquiring new crv, but that feels secondary to the user experience imo

even just some kind of warning or popup when the price is x% below par could go a long way with a link to details in the documentation or the easiest way to purchase on the open market