New Yeti + Curve Strategy Unveiled on Avalanche!
OH! Finance is excited to announce that we’re deploying new strategies for our Avalanche network vaults utilizing Yeti Finance and Curve Finance! We expect users to earn high APYs on their single-sided native $USDC and $USDT deposits using OH! Finance’s yield optimizer. This strategy has been audited by Watchpug.
How to Use the New OH! Finance Strategy
Users who already have $USDC.e or $USDT.e deposited in any of OH! Finance’s existing Avalanche-side vaults using the Aave strategy will need to move their tokens to the new OH! Finance Yeti vaults to get the new yields.
Moving your tokens is simple. Here’s how to do it:
While connected to the Avalanche network, first withdraw your tokens from the OH! Finance’s Aave vault(s). Next, swap your $USDC.e or $USDT.e to native $USDC or $USDT on an automated marker maker (AMM) on Avalanche. Popular AMMs on Avalanche include Trader Joe, Platypus, and GMX.
Finally, deposit them into the new Yeti vaults on OH! Finance’s app.
That’s it! We’ll take care of the rest.
Yeti Finance
Yeti Finance is a next-generation decentralized borrowing protocol built on the Avalanche network. With more than $80 million in total value locked (TVL), this innovative protocol enables users to borrow against their entire portfolio for a 0% interest fee, while continuing to earn farming rewards for deposited assets.
Yeti boasts maximum capital efficiency. Its low minimum collateral ratios allow users to get up to 11-times leverage on base assets, staked assets, and LP tokens , and up to 21-times leverage on interest-bearing stablecoins. Additionally, rather than needing separate, individual debt positions for each asset, Yeti users can borrow against all their assets at once, allowing for better protection against liquidations. This is called cross-collateralized borrowing.
Better yet, Yeti charges a 0% interest rate, so borrowers need not worry about constantly accruing debt.
Yeti also offers its own native stablecoin, YUSD, which is hard-pegged to the U.S. dollar using multiple mechanisms. Users can learn more about YUSD and Yeti Finance on its FAQ page.
Yeti Finance boasts strategic partners Avalanche, Trader Joe, and GBV Capital, and audits and verifications from Dedaub, Haechi Labs, code4rena, and Three Sigma.
Curve Finance
Initially built on the Ethereum network, Curve Finance is one of the largest DeFi protocols, with more than $6 billion in TVL across 10 chains.
At its core, Curve is an exchange liquidity pool. It is designed for extremely efficient stablecoin trading, low risk, and supplemental fee income for liquidity providers, all without an opportunity cost. Curve allows users and smart contracts like 1inch, Paraswap, and others to trade between stablecoins with a custom low slippage, low fee algorithm designed specifically for stablecoins and earn fees. A later version of Curve introduced trading beyond stablecoins, to include various cryptocurrencies. Behind the scenes, the liquidity pool is also supplied to the Compound protocol or yearn.finance where it generates even more income for liquidity providers. For this reason, Curve Finance is sometimes referred to as a secondary liquidity pool, but any individual can use it.
To achieve successful exchange volume, Curve needs a high volume of liquidity (tokens) and therefore offers rewards to liquidity providers. Curve pools are balanced by ever-shifting fees which incentivize or disincentivize users from depositing or withdrawing tokens in the pool.
Curve is decentralized and governed through the utility of its native CRV token. $CRV holders can lock up their CRV tokens in the “vote escrow” mechanism to receive veCRV tokens and higher rewards in return. Locking up $CRV for a longer period of time produces more rewards. $veCRV is utilized in governances proposes and votes, such as the creation of new liquidity pools or adjusting rewards in existing pools. Therefore, users who hold large $veCRV positions can attempt to influence the protocol.
Curve smart contracts were audited by Trail of Bits.
About OH! Finance
OH! Finance is an optimized yield-generation protocol, focused on reducing risk and increasing volume exposure. Start earning industry-leading interest rates on stablecoins in just a few clicks: https://oh.finance.
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