Earning YFI curve.fi/y
The first distribution pool is live, UI to follow in the next few days.
The first pool is for curve.fi/y LPs who supply via yearn.finance
Earn YFI by providing liquidity to curve.fi/y
curve.fi/y uses yearn.finance protocol as its profit switching.
Current AUM is $8m. LPs currently earn 10.57% interest in aggregate.
By providing liquidity you will also be earning $CRV as soon as it launches.
The distribution contracts were developed by 1inch.exchange and synthetix.io and have been used in their mintr.synthetix.io
The deployed contract;
0x0001FB050Fe7312791bF6475b96569D83F695C9f
To stake, simply approve the contract to stake your curve LP tokens;
0xdf5e0e81dff6faf3a7e52ba697820c5e32d806a8
After approval, call “stake’ with the amount you wish to stake, curve LP tokens are 18 decimals.
Those who have used the incentivized SNX pools will be familiar with this process.
YFI will allow the holders to make protocol decision on the iearn tokens, these include;
- Adding new lenders
- Revoking current lenders
- Adding deposit & withdraw fees
- Changing on-chain weights of lender percentage (to compensate for additional rewards, such as COMP)
- Assigning a % of protocol yield to fund the rewards pool (up to a maximum of 3.5% of interest earned)
- If distribution rewards are enabled, YFI will also allow holders to claim their share from the rewards pool.
Details on how to claim protocol level rewards will follow.
