Yes, Woofy is doing good and we are working on rolling it out to many chains. It is already live on Fantom, Binance Smart Chain, and Polygon
Our strategists are way ahead of you and it’s already being worked on. This is one of the benefits of upgrading all the Curve vaults to v2.
v1 vaults can only have one strategy at a time; so the entire vault would have to pick between Convex or Curve. With v2, we can do both and set weights based on return and risk.
The delta is essentially CVX farming incentives less CVX fee, plus or minus some CRV/veCRV deployment decisions, right?
I have received an update and we already have Convex strategies live. You can see one here, https://yearn-hub.vercel.app/vault/0xdCD90C7f6324cfa40d7169ef80b12031770B4325
We don’t currently have a timeline for when, or if, production vaults will move to another layer 1 or layer 2, but we are currently researching both at this time.
Do you all need any help on anything financial (reporting/ budgeting, fundraising, treasury management, strategy, …)
The best place to see where we are is the last quarterly report and https:// www.yfistats.com/ for more recent items. If you are interested in helping I would suggest reaching out to @Bob_The_Buidler as he is the lead in that area.
While we do have a great team for our treasury and finances we are always looking for people who want to contribute to Yearn. If you want to start helping out just dm any of the mods in discord or ask in our #financials channel.
If you check out ape.tax and connect to the chain you are asking about, you can see the experimental vaults yearn is testing on that chain.
Can you provide an update on strategies for V2 YFI and V2 WBTC vault? And projected returns for the remainder of 2021?
- Take out DAI loan from Maker, deposit to yvDAI
- Lend YFI on lending platforms
- Collab with Inverse Finance coming soon TM … more are added as opportunities come up
- The main strategy right now is Maker.
- Vesper strategy is also providing nice returns.
- More on the way as opportunities arise, but overall, WBTC is tricky to find yield.
Hard to predict ser. Yields are volatile day-to-day. Our goal is to get it near 1/2 of the yield of yvDAI, but there are a lot of moving pieces and it will take time.
Any updates on making the front-end of the yearn experience better? Not just the UI being updated to allow for better personal tracking of vault returns, but even softer items like “state of the vault” that happened for like three weeks then died off. I think it’s a struggle to introduce normies to Yearn still
The team is hard at work on our v3 website and it has many, if not all, the features people have been asking for. While we don’t have anything specific to share at this moment, we will give everyone an update on its progress soon. For now, State of the Vaults has been merged into the Yearn Newsletter and we are keeping the Vaults at Yearn up to date weekly. It has summaries of all the production vaults and tells you which ones are no longer earning yield and should be migrated to v2.
Here is a document outlining some of the tech we’ve built for the v3 front-end, as well as some requirements we are working with for making v3 UX better.
Overview of Yearn V3 Web Ecosystem - HackMD
Any other profit-sharing than buybacks? Would be great to claim the profits (maybe in a yYFIv2 vault that auto compounds)
Profits used to be distributed back to YFI gov stakers but our governance voted to stop this distribution and instead use the fees to reinvest back into Yearn to help it expand. Governance can always vote to reverse this and go back to a fee distribution model.
In general, I would just deposit into the vault whose coin you are currently holding. Our non-crv vaults will have many strategies and our strategists are working day and night to get you the best risk-adjusted return on your assets. Also, as we are moving all v1 vaults to v2, I would recommend only depositing to v2 vaults now as the others will be deprecated soon.
Contribute.yearn.rocks is a great place to start. Lots of issues that need attention.
But, for the most part, we will be in a better place to accept contributions soon. Some areas that we could use help on are the SDK, subgraph (a lot of great work has been done on the v3 subgraph but we can continue to improve), and writing more adapters for yearn lens (need adapters for the special case veCRV based vaults still).
Is the YFI vault maker DAI strategy waiting on something to have returns appear in the DAI vault? Do you need DAI shares in the vault to see them?
Not sure I follow. The strategy realizes gains after these two conditions are met:
1: yvDAI harvest occurs (increasing yvDAI price per share)
2: yvYFI Maker harvest occurs - selling DAI profit for YFI
That makes sense, I was confused, thought for some reason I’d be getting the equivalent of airdropped DAI for having my YFI in a vault
Nope, strategies take care of all the work of giving you the yield as more of the vault’s deposit token.
The current plan for Gov v2 is to use tech that is already available and not something that would require us to build or add features to, so it would work for us. This is still an ongoing process but our gov transition team is hard at work on this. We plan to have an overview of our yTeams’ signers soon.
Don’t want to spoil the fun, I’ll just leave this link here with soon™ https://etherscan.io/token/0xD533a949740bb3306d119CC777fa900bA034cd52? a=0xFEB4acf3df3cDEA7399794D0869ef76A6EfAff52
Any plans to partner with exchanges to offer a simple fiat on-ramp into Yearn? Or offer your own fiat on-ramp via something like Plaid (though ideally something better / more reliable, LOL)? I’ve seen partnerships like Dharma which let users easily deposit into vaults, but no exchange options to do so. Or is that against the Yearn ethos of embracing permissionless, non-KYC style models?
Yearn doesn’t have any plans to offer its own fiat on-ramp, but we have been working with our partners for better integrations with them via our partnership program. We have a long list of people who we are currently talking to and those who have already joined our partnership program. This is a fee-sharing program for any TVL they contribute to the Yearn Ecosystem.
We have done some anonymous analytics using plausible.io, and we will likely implement A/B testing in the future using a similar approach.
We’ve moved our hosting solution to IPFS and are currently moving our API snapshots to IPFS/IPNS as well. The intention is to move away from AWS entirely and have the site be as decentralized/anonymous as possible.
V3 UI soon™. The core infrastructure is in place, we are doing a first pass implementation at styling/design now, but we are also working with a firm for identity/branding that may take some more time. At a minimum, though, we will release the core architecture we’ve built (SDK, lens, subgraph) relatively soon (most of it is public in Github), and possibly first pass at new UI/UX shortly after.
Any plans to diversify treasury out of YFI to protect from large capital swings, i.e. 25% in USD stablecoins?
No YFI selling, if you mean this.