yveCRV v1 vs yvBOOST v2 net APY

General Chat
1

Price context:

  • At the time of posting CRV is about $2.17,
  • At the time of posting yvBOOST is about $1.04
  • At the time of posting each yvBOOST is about 1.1 yveCRV

Yield Context:
From https://yearn.finance/vaults

Yields
Yields2496×568 72.1 KB

  • yveCRV (v1) says it pays about 32% net APY paid via 3crv (USD stable coin pool) approximately weekly. (Details and UI). This should be the sum of the the 3crv earnings from the underlying vecrv held by yvecrv dao + the 10% share of the gauge boost vault earnings.
  • yvBOOST (v2) says it pays about 80% net APY

yvBOOST is supposed to take these earnings and buy yveCRV and deposit it to yvBOOST for compounded earnings. If 32% were continuously compounded for 1 year it would be about 38%. (Check for yourself here)

So I guess the questions are:

  • Is yveCRV net APY correct?
  • Is yvBOOST net APY correct?
  • If they are both correct where does the extra yield come from?

Other Clarifying Questions:
On https://crv.ape.tax/ it says:
“Earn 277.6% more weekly rewards staking with Yearn.”

There is an ambiguity here and I don’t know how to interpret it.

1 veCRV locked for 4 years currently pays about 8.5% (source)
So the yearly fee earnings per 1 veCRV is about $0.18

  • What is the yearly earnings for 1 yveCRV?

  • Are the yearly earnings for 1 yveCRV 277% of 1 vecrv? (2.77 * 0.18 is about $.50)?
    or is the 277% based on the dollar value of $2.17 of yveCRV so about 2.08 yveCRV yields about $0.50 and thus…

  • Are the yearly earnings for 1 CRV worth of yveCRV 277% of .18? Thus

  • Are the yearly earnings for 1 yveCRV about $0.24?

3 Likes
2

Forget about yveCRV and yvboost and Yearn. It’s time to move on.
What I know is that, team decide to take EPS airdrop to their own pocket. So far, I had asked a lot of times about this question and here’s my conclusion: go to cvxcrv.

1 Like
3

This higher than normal APY for yvBoost is because we donated the EPS rewards into the vault. We will be doing this regularly from now on, probably bi-weekly. We will buy yvBoost from the market unwrap it to yveCRV and donate it to the yvBoost vault.

image

If you were to staking crv at Curve.fi you would get curve apy: 7.73% via 3CRV weekly admin fees at current rates.
If you stake in our yveCRV vault you will make vault apy: 29.66%. This is because yearn donates 10% of all farmed CRV to this vault and gives vault depositors Yearn’s weekly rewards, boosting their rewards (weekly claim-able 3crv). You can read more about this in our recent tweet thread about this vault.

3 Likes
4

Is the 10% crv rewards sold into the market for ETH and then we buy yvBOOST for this ETH (if the price is higher for CRV compared to yvBOOST?

If it’s not arbed like this, it creates inflation into yvBOOST? (because yvBOOST is not convertable back to CRV)

1 Like
5

This topic was automatically closed 7 days after the last reply. New replies are no longer allowed.