Hey! Sorry this has taken a while longer than anticipated, but I can provide an update:
- I’ve been working with @x48 to implement new calculations for APY into our new SDK that Yearn is developing. This SDK is the basis for v3 of our website and will allow things to scale much more nicely, and as much as possible will be done programmatically (i.e. as little hardcoding of variables as possible).
- The first step was implementing calculations for Curve vaults. We’ve been in contact with Curve and are using the same formulas they do, so our APY for Curve vaults should be updated in real-time instead of looking back in the past 1 month as they currently do. Here’s a screenshot taken last night of some mock data, and while this isn’t finalized it gives you an idea of the direction we’re going, and I am hopeful that we’ll be able to push these calculations live today:
- Our new APY will also display the gross APY, as this is what competitors do and what we’ve found is more standard practice. We will also include fees applied and are discussing the best way/place to show net APY, as we don’t want to seem like we’re trying to “inflate” the APY—we just want for users to have a clearer picture of what yield Yearn is able to produce in addition to the yield they are receiving.
- Like with the Curve vaults, our hope is to make all of our APY calculations more “real-time”, and in the future we’ll be implementing this on as many vaults as possible while also allowing users to select between averages over past time windows.
Edit: It’s worth adding that switching to Curve’s formula was specifically done to address the issue of 0% or N/A for vaults—basically, we know what the yield should be on these vaults, but if they hadn’t performed a harvest yet, they would show this error, which means no one will want to deposit, which means they’ll never harvest, and will keep showing N/A. A self-fulfilling cycle! So hopefully this update will help fix that issue.