- Update YLA composition: replace the existing set of Vaults (3crv, yCRV, crvGUSD, crvCOMP, crvYBUSD) with another one with a bigger APY (crvBUSD, crvUSDP, crvLUSD, crvALUSD).
- Enable tech for automatic Vaults rebalancing (already audited)
- Allow the team to add or remove stablecoin Yearn Vaults to YLA in the future for keeping basket up to date taking into account new Yearn products
YLA was initially designed to maximize APY generated by a set of Yearn Vaults. It executes the “fund of funds” strategy, widely used in traditional finance.
The main value proposition for users is exposure to a diversified basket of high-yield stablecoin Yearn Vaults which is up to date with recent Yearn developments and market situation, reflected in APY. Therefore, the basket should be actively maintained based on the profitability of all stablecoin Vaults in Yearn ecosystem. The initial set of Vaults and their weights were based on TVL/APY at the moment of launch. Now it is obvious that this set is a bit outdated and there are much better options for YLA users.
The ability to change the set of Vaults (limited to Yearn stablecoins Vaults) without additional proposals for every case is important since it allows automatic rebalancing and adding new Vaults to a set if there will be new tech releases from Yearn side.
Update composition: replace the current set (3crv, yCRV, crvGUSD, crvCOMP, crvYBUSD) with another one with a bigger APY: crvBUSD, crvUSDP, crvLUSD, crvALUSD.
An initial composition based on TVL-calculated shares:
Name: TVL | share in the basket | APY normalized on weight
crvALUSD: $70.7m | 0.37 | 9.29% APY
crvUSDP: $66.4m | 0.347 | 7.91% APY
crvLUSD: $42.4m | 0.222 | 5.49% APY
crvBUSD: $11.8m | 0.061 | 0.97% APY
sum: $191.3m | 1 | total basket 23.66% APY
Automatically update the composition of this pool in the future by means of YearnVaultInstantRebindStrategy.sol, pursuing a goal for maximizing APY for YLA LPs.
The audit for pool rebalancing tech will be added here.