October 17, 2024: Nested Yield 🪆📈
$ynETH Llama Lend pool launches with points for lenders and borrowers
YieldNest’s $ynETH is now available as collateral on Llama Lend!
The thread explains how this can be particularly interesting for points farmers, given that YieldNest is promising 6x rewards for their points program (called seeds) on Llama Lend. This is the highest tier of points they offer, with the 6x multiplier only available on Convex and Spectra. Their website claims the offer ends by October 29.
It can also be leveraged up to 5.7x, so you can loop this for even greater points. It’s sort of like nesting dolls, but for yield. Maybe this was the origin of the term YieldNest?
At the moment the pool is about 75% full, so the borrow APY is a bit high, but the clever team at YieldNest thought of everything… they’re also the first team to offer points for supplying crvUSD.
The base APR of 7.6% is better than treasuries, we’ll see if points farmers jump at the 6x atop this.
Is bootstrapping Llama Lend liquidity becoming more science than art? Last week we covered the case study Martin had been working on.
This week it continues with rewards on tBTC, and projections we can test…
Meanwhile, if you’re interested in differing borrow rates across lending markets, we recommend this great article by defi.money
Disclaimers! Author has no stake in $ynETH or YieldNest, though we are hosting a DeFi meetup with them in Tokyo next week on behalf of Leviathan News… come join!
