Add a vault that duplicates the strategy of the current curve sbtc vault, but instead invests in the renBTC/wBTC curve pool. This pool has drastically higher yields the last few weeks than the curve pool with sbtc included in it, which does not really make sense. We are taking on extra risk by investing in the pool for renBTC/wBTC/sBTC as it holds 3 different coins. This vault, which in theory would be very easily to implement considering it follows the same strategy as curve sBTC vault just in a different pool, would help convince many more BTC holders to become involved in the yearn space.
YIP would add a renBTC/wBTC vault that invests in the ren pool on curve and reinvests profits back in.
People are seeking the highest yields in the space while avoiding risk as much as possible. Creating a vault with higher yields on BTC and lower overall risk would be a major positive for all users with very little overall work required from the yearn team to get this going. There is over 200 billion in bitcoin sitting on the sidelines and everyday the number of btc added to the ethereum chain is increasing rapidly. There are now over 80,000 BTC locked on ethereum with no signs of slowing down.
A vault would be added for the renBTC/wBTC curve pool, copying other curve vault strategies.
Less Risk for investors by avoiding sBTC. Higher yields. More diversification for those looking to gain yield on BTC.
Already have a pool that includes wBTC and renBTC. Maybe the higher
pool yield does not last, though there is seemingly A LOT of curve voting to keep increasing the weight of CRV rewards to this pool recently.
- Add renBTC/wBTC vault
- No Changes (I like extra risk)