Full Disclosure: Delphi Ventures holds $YFI.
“Few understand”. “Oh my”. If you’ve spent any time on crypto twitter over the past few weeks, you’ve probably seen these memes a lot (mostly thanks to @learn2yearn).
Today, I wanted to use my Daily to help all our subscribers finally truly understand the following things:
- What is yETH and how does it work?
- What assets is yETH bullish for?
- What risks are there?
- How has yETH done since launch?
- Why yETH perfectly demonstrates how powerful YFI truly is?
If I do my job well enough, you should end this post with a feeling of “Oh my”. Let’s begin.
If you need a refresher, it might be worth reading our team’s initial coverage of YFI from July here.
What is yETH and how does it work?
yETH is the newest yVault strategy everyone is excited about. yVaults are essentially token containers which then use those tokens to farm based on optimum strategies available to generate the highest-APY yield for the tokens deposited. Basically these vaults act like a