Today in DeFi - Yearn ETH Vaults, SushiSwap Migration Vote, Jump invests in Serum

Sep 04, 2020

Yearn ETH Vaults

You've voted, I listened. Here it is the "Understanding @iearnfinance 's brand new yETH Delegated Vault". Special thanks to @tracheopteryx for valuable feedback to make this even more understandable

Yearn Finance recently introduced yETH Vaults. These vaults generate very high APR for ETH holders. The strategy uses ETH to mint DAI which goes into the DAI vault, which currently farms CRV.

Andrew Kang @Rewkang

The new @iearnfinance yETH vault absorbed 378k ETH since launching 2 days ago It also just successfully managed risk during a 25% crash 3 Rebalances were called in the past hour leading to 2.7M DAI paid back to its CDP Cool validation for the product

The yETH Vault absorbed 378K ETH, making it the largest vault on MakerDAO. Using an automated strategy, it successfully de-risked during yesterday’s flash dump.

The yETH Vault has positive implications for YFI holders who earn fees from it, as well as ETH since it reduces circulating supply while increasing demand for ETH.

SushiSwap Migration Vote

Chef Nomi #SushiSwap @NomiChef

Vote on this proposal if you agree that we should perform liquidity migration before the end of initial bonus reward distribution period. With its own AMM, SushiSwap will be able to collect 1/6 of trading fees to distribute back to $SUSHI token holders.

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Sushiswap, the uniswap fork with its own token, is now voting to accelerate its liquidity migration. This is where the Uniswap LP tokens are migrated to Sushiwap - the yet to be deployed Unsiwap fork.

Currently the vote sits at 87% Yes, and looks to be moving forward. In case you’re wondering, yes, Sushiswap has been audited by Quantstamp and Peckshield,

Jump Trading Invests in Serum

Jump Trading, a legendary HFT firm, has just signed on as an investor and market maker on Serum.

Up until now, DEX volume has been dominated by AMM style exchanges like Uniswap. These are difficult for traditional trading firms to get into, because of massive slippage on orders, a different price mechanism, and slow transactional speeds, as well as high tx fees.

Serum, a non-custodial trading platform with high transaction speeds and an order book, allows traditional HFT firms like Jump to jump on the DeFi bandwagon as Market Makers.