Today in DeFi - Yearn Options, BackScratcher, And More

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Yearn Options

Andre Cronje @AndreCronjeTech

.@HegicOptions is really amazing tech. @0mllwntrmt3 spent a lot of time answering my dumb questions and we came up with (what I think) are some pretty exciting ways to create generic call/put options for any @UniswapProtocol pair.

ツ @WrongNebula

Yearn options you said? $HEGIC x $YFI Follow the trail of alpha 👇 https://t.co/kHQ2hVEflY

Andre Cronje seems to be suggesting that options for Uniswap pairs may soon be coming to the Yearn Finance ecosystem, powered by Hegic Options.

BackScratcher

yearn.finance @iearnfinance

@bantg has made a UI for the veCRV "Backscratcher" Vault. By depositing your $CRV into the vault you receive a share of the Curve DAO admin fees. Your $CRV will be locked forever, and Curve admin fees haven't been paid out yet, but are expected in the near future.

banteg @bantg

Made a simple UI for the Backscratcher https://t.co/Lm111tN4fE https://t.co/X58txTWNPG

Yearn Finance has released a new “Backscratcher” Vault.

WormholeOracle @WormholeOracle

yEarn just released a #veCRV vault that completely changes the game for the #Curvefinance ecosystem. 👇In a big ol' tweet thread, here's what I know so far 👇

banteg @bantg

@ceterispar1bus yveCRV > veCRV since it has more rewards yveCRV > CRV since it's as liquid yveCRV can be arbitraged down by locking CRV Basically I think the outcome is it sucks all CRV in.

The strategy behind this one is fairly complex. The new vault locks your CRV - FOREVER - in exchange for admin fees in the form of 3Pool LP tokens. The current APR is around 40%, which allows for a return on investment in about 2 years after compounding.

banteg @bantg

@ceterispar1bus yveCRV > veCRV since it has more rewards yveCRV > CRV since it's as liquid yveCRV can be arbitraged down by locking CRV Basically I think the outcome is it sucks all CRV in.

Users who lock their CRV get yveCRV, which unlike the CRV they lock up, is liquid. In addition, yveCRV also earns more rewards than veCRV.

The CRV locked is used to boost rewards across all vaults, benefiting the Yearn ecosystem as a whole as well.

YFI, BAL MakerDAO collateral

An executive vote in MakerDAO approving YFI and BAL as collateral has just passed. It is not in the system yet, but is approved to be executed in two days on Nov.11, 22:19 UTC.

KEEP3R Live

YFI community member Zashton has launched Keep3r.live, a dashboard for Keep3r network statistics. Keep3r is a protocol that allows projects to incentivize “keepers” - bots or scripts which run to fulfill some task for a project.

Alpha Adds Synthetix+Ren

Alpha Finance Lab @AlphaFinanceLab

1) Welcome @synthetix_io and @renprotocol communities to #AlphaHomora! We now support "leveraged liquidity providing" for 👉 $ETH / $SNX (1.75x) 👉 ETH / $REN (1.75x) 👉 ETH / $renBTC (2.0x) pairs on @UniswapProtocol ! More details below 👇 blog.alphafinance.io/alpha-homora-a…

blog.alphafinance.ioAlpha Homora Adds Leveraged Liquidity Providing for SNX, REN, and renBTC PoolsWelcome SNX, REN, renBTC communities to Alpha Homora, as we now support liquidity providing on leverage for the following pairs on Uniswap * ETH/SNX (1.75x) * ETH/REN (1.75x) * ETH/renBTC (2.0x) What does it mean to provide liquidity on leverage and why would you want to do it? It means Alpha …

Alpha Homora has add leveraged LP positions for SNX, REN, renBTC pools recently. Alpha Homora is a leveraged yield farming project. Note that leverage increases profits, but also chances of impermanent loss. Besides SNX and REN, Alpha has also added PICKLE, AAVE, and other DeFi Token LP farms.

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Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned