From cd301016ca07776705a99c8c8614de5061c625b1 Mon Sep 17 00:00:00 2001 From: engn33r Date: Tue, 21 Jul 2026 00:00:00 +0000 Subject: [PATCH 1/4] Remove unneeded vault-tokens page, merge with overview --- .../products/yvaults/overview.md | 9 +++--- .../products/yvaults/vault-tokens.md | 31 ------------------- sidebars/sidebarsUserDocs.js | 3 -- 3 files changed, 5 insertions(+), 38 deletions(-) delete mode 100644 docs/getting-started/products/yvaults/vault-tokens.md diff --git a/docs/getting-started/products/yvaults/overview.md b/docs/getting-started/products/yvaults/overview.md index 5da0b28ccc..d818445d8d 100644 --- a/docs/getting-started/products/yvaults/overview.md +++ b/docs/getting-started/products/yvaults/overview.md @@ -14,13 +14,14 @@ Go you! ## yVault Types -Over the years, Yearn has developed 3 versions of the yVault products: v1, v2, and v3. Super creative, we know! -- [**v1 yVaults**](../../../developers/smart-contracts/deprecated/V1/introduction) are the OG vaults and are mostly phased out (*deprecated* in developer-speak). +Over the years, Yearn has developed 3 versions of the yVault products: v1, v2, and v3. Super creative, we know! Each version uses a different token-naming convention: -- [**v2 yVaults**](./v2) are the reliable, workhorse vaults that you know and love. They started focused on the Curve ecosystem and are still used when creating vaults for Curve pools. +- [**v1 yVaults**](../../../developers/smart-contracts/deprecated/V1/introduction) are the OG vaults and are mostly phased out (*deprecated* in developer-speak). Each vault used a single strategy, and its token was prefixed with `y` (e.g. depositing USDC gave you `yUSDC`). -- [**v3 yVaults**](./v3) are the new cool vaults on the block. They are designed to interoperate using the ERC-4626 standard and have several new features to make them safer and easier to use and create. +- [**v2 yVaults**](./v2) are the reliable, workhorse vaults that you know and love. They started focused on the Curve ecosystem and are still used when creating vaults for Curve pools. Each vault can run up to 20 strategies, and its token is prefixed with `yv` (e.g. `yvUSDC`). + + [**v3 yVaults**](./v3) are the new cool vaults on the block. They are designed to interoperate using the [ERC-4626](https://ethereum.org/en/developers/docs/standards/tokens/erc-4626/) standard and have several new features to make them safer and easier to use and create. Multi-strategy vault tokens use the `yv` prefix plus a "category" suffix (e.g. `yvUSDC-1`), while single-strategy (Tokenized Strategy) vaults use the `ys` prefix (e.g. `ysUSDC`). ## yVault Fee Structure diff --git a/docs/getting-started/products/yvaults/vault-tokens.md b/docs/getting-started/products/yvaults/vault-tokens.md deleted file mode 100644 index db9025f1c7..0000000000 --- a/docs/getting-started/products/yvaults/vault-tokens.md +++ /dev/null @@ -1,31 +0,0 @@ -# Vault Tokens - -yVault Tokens are like a deposit receipt. They represent a user's share of the yVault that they are participating in. - -**For example**, if you deposit YFI in a yVault you will receive yvYFI in return. yvYFI would be the yVault Token. - -If your yVault generates profit, the share price of your yVault tokens will increase. This happens because more underlying tokens are in the yVault to redeem upon withdrawal. - -![](https://i.imgur.com/3zkSnoE.png) -![](https://i.imgur.com/yrGEVCr.png) - -Once a user's liquidity is withdrawn from the yVault, their yVault Token will be burned. yVault Tokens are [ERC-20](https://ethereum.org/en/developers/docs/standards/tokens/erc-20/), meaning they can be transferred and traded as any other common Ethereum token. - -The vault tokens have evolved between v1, v2, and v3, here are a couple of main differences: - -## V1 yVault Tokens - -- Each vault contract can use only 1 yield strategy contract. -- Vault tokens are prefixed with a leading `y`, so a v1 vault for USDC gives the user yUSDC. - -## V2 yVault Tokens - -- Each vault contract can use up to 20 yield strategy contracts. -- Vault tokens are prefixed with `yv`, so a v2 vault for USDC gives the user yvUSDC. - -## V3 yVault Tokens - -- All V3 vaults are [ERC-4626](https://ethereum.org/en/developers/docs/standards/tokens/erc-4626/) compliant. -- Vaults can be either [multi-strategy](/developers/v3/overview#definitions) or [single-strategy (Tokenized Strategy)](/developers/v3/overview#definitions). -- Multi-strategy vaults tokens are prefixed with `yv` and appended with a ["category"](/developers/v3/Integrating_v3#category), so a v3 vault for USDC with a category type of `1` gives the user `yvUSDC-1`. -- Single strategy vaults are prefixed with `ys`, so a v3 single strategy vault gives the user `ysUSDC`. diff --git a/sidebars/sidebarsUserDocs.js b/sidebars/sidebarsUserDocs.js index f01968f5bb..7433038db2 100644 --- a/sidebars/sidebarsUserDocs.js +++ b/sidebars/sidebarsUserDocs.js @@ -78,9 +78,6 @@ module.exports = { type: 'doc', id: 'products/yvaults/yBold', }, - items: [ - 'products/yvaults/vault-tokens', - ], }, { type: 'link', From 4c9fccc2ea69df7d20b7004ff37cb805e89ecb47 Mon Sep 17 00:00:00 2001 From: engn33r Date: Tue, 21 Jul 2026 00:00:00 +0000 Subject: [PATCH 2/4] Update new AuctionFactory address --- scripts/fetchedAddressData.json | 7 +++++-- src/ethereum/constants.ts | 2 +- 2 files changed, 6 insertions(+), 3 deletions(-) diff --git a/scripts/fetchedAddressData.json b/scripts/fetchedAddressData.json index 5d070fe090..c7f980ada0 100644 --- a/scripts/fetchedAddressData.json +++ b/scripts/fetchedAddressData.json @@ -1,5 +1,5 @@ { - "timeLastChecked": 1779740296, + "timeLastChecked": 1784652070, "addressesData": { "v3ContractAddresses": { "topLevel": { @@ -138,7 +138,10 @@ "is303TokenizedStrategyMatch": true, "is304VaultOriginalMatch": true, "is304FactoryMatch": true, - "is304TokenizedStrategyMatch": true + "is304TokenizedStrategyMatch": true, + "is310VaultOriginalMatch": true, + "is310FactoryMatch": true, + "is310TokenizedStrategyMatch": true }, "yearnV3": { "accountantCheck": true, diff --git a/src/ethereum/constants.ts b/src/ethereum/constants.ts index 28bf14ce25..df6ee9911f 100644 --- a/src/ethereum/constants.ts +++ b/src/ethereum/constants.ts @@ -191,7 +191,7 @@ export const protocolPeriphery = { baseFeeProvider: '0xe0514dd71cfdc30147e76f65c30bdf60bfd437c3', commonReportTrigger: '0xf8dF17a35c88AbB25e83C92f9D293B4368b9D52D', auctionRegistry: '0x94F44706A61845a4f9e59c4Bc08cEA4503e48D12', - auctionFactory: '0xbA7FCb508c7195eE5AE823F37eE2c11D7ED52F8e', + auctionFactory: '0x55B3830B4D85e6868c73f00A2e857e9AdbF89568', dumper: '0x590Dd9399bB53f1085097399C3265C7137c1C4Cf', splitterFactory: '0xe28fCC9FB2998ba57754789F6666DAa8C815614D', registryFactory: '0x3A0fa8aac82aD94048098D6af6e8eB36c98816A1', From 5b9109a137e8ed52c1cd09af2ec4fb115e334ab5 Mon Sep 17 00:00:00 2001 From: engn33r Date: Tue, 21 Jul 2026 00:00:00 +0000 Subject: [PATCH 3/4] Fix sidebar build issue --- sidebars/sidebarsUserDocs.js | 7 ++----- 1 file changed, 2 insertions(+), 5 deletions(-) diff --git a/sidebars/sidebarsUserDocs.js b/sidebars/sidebarsUserDocs.js index 7433038db2..41d245a506 100644 --- a/sidebars/sidebarsUserDocs.js +++ b/sidebars/sidebarsUserDocs.js @@ -72,12 +72,9 @@ module.exports = { ], }, { - type: 'category', + type: 'doc', + id: 'products/yvaults/yBold', label: 'yBOLD', - link: { - type: 'doc', - id: 'products/yvaults/yBold', - }, }, { type: 'link', From 923cf95074d4868626ad2326b1bce6911126b3f9 Mon Sep 17 00:00:00 2001 From: engn33r Date: Tue, 21 Jul 2026 00:00:00 +0000 Subject: [PATCH 4/4] Update yBOLD docs page with improved info --- .../getting-started/products/yvaults/yBold.md | 21 +++++++++++-------- 1 file changed, 12 insertions(+), 9 deletions(-) diff --git a/docs/getting-started/products/yvaults/yBold.md b/docs/getting-started/products/yvaults/yBold.md index 1ca020dfaa..47344ccfd1 100644 --- a/docs/getting-started/products/yvaults/yBold.md +++ b/docs/getting-started/products/yvaults/yBold.md @@ -1,9 +1,9 @@ # yBOLD -yBOLD is Yearn's BOLD tokenized Stability pool product. It is designed to tokenize the different benefits of a BOLD-in-Stability-Pool position in a simple, user-friendly way. Let's review the basics of yBOLD: +yBOLD is Yearn's BOLD tokenized Stability Pool product. It is designed to tokenize the different benefits of a BOLD-in-Stability-Pool position in a simple, user-friendly way. Let's review the basics of yBOLD: -- 1 yBOLD represents 1 BOLD deposited in one of Liquity V2's Stability Pools -- They are always redeemable for the underlying BOLD without any withdrawal fees or waiting period +- 1 yBOLD represents 1 BOLD deposited across Liquity V2's Stability Pools +- They are always redeemable for the underlying BOLD without any withdrawal fees or waiting period (the price-per-share stays at 1.0 by design) - They have no transfer restrictions and thus can always be swapped in DEX pools or used in other DeFi integrations ## Get yBOLD @@ -12,25 +12,28 @@ If you have BOLD tokens, you can convert them to yBOLD either by minting yBOLD a ## Earn Yield on yBOLD -There are 2 main ways to earn yield on your yBOLD; (1) depositing to the Curve LP to earn trading fees and CRV emissions (AKA lp-yBOLD), or (2) staking it in the yBOLD Auto-Compounder vault (AKA ysyBOLD) to earn more yBOLD. +The way to capture the Stability Pool yield is to **stake your yBOLD in the yBOLD Auto-Compounder vault** (AKA ysyBOLD), whose value grows relative to yBOLD as rewards compound automatically. Bare yBOLD does not accrue yield on its own, only staked yBOLD (ysyBOLD) does. ## How It Works -When you deposit BOLD into yBOLD, Yearn routes your funds into the different Liquity V2 Stability Pools. Revenue for Stability Pool depositors comes from (1) liquidation fees and (2) 75% of the system's interest rate earnings. When you stake yBOLD, you'll receive ysyBOLD (Staked Yearn BOLD). Over time, the value of ysyBOLD increases relative to yBOLD as rewards compound automatically. +When you deposit BOLD into yBOLD and stake it for ysyBOLD, Yearn routes your funds across Liquity V2's Stability Pools (currently the wstETH, rETH, and WETH branches, rebalanced toward the best yield). Revenue for Stability Pool depositors comes from two sources: + +1) **Liquidation gains**: when a loan is liquidated, the pool absorbs its BOLD debt and seizes the collateral (wstETH/rETH/WETH) at roughly a 5% discount +2) **Borrower interest**: 75% of all interest paid by Liquity V2 borrowers is directed to the Stability Pool depositors, paid in BOLD. ## Why Use yBOLD? **TLDR: Highest rewards, lowest risk.** -- Auto-Compounding: Liquidation rewards and protocol earnings are automatically re-invested into the Stability Pool, growing your position. +- Auto-Compounding: Liquidation rewards and protocol interest are automatically harvested and re-deposited into the Stability Pool, with the proceeds compounding into the value of ysyBOLD over time. - Auto-optimizing: The allocation between the different stability pools is re-evaluated every 30 minutes and if there's a more profitable allocation, the vault makes the change automatically. -- Optimized rewards dumping: Instead of using hardcoded swap paths, Yearn uses a Dutch Auction to allow for MEV bots to compete to provide you with the best price. +- Low risk design: The independent [Pharos risk rating dashboard](https://pharos.watch/stablecoin/ybold-yearn/) gives yBOLD an "A" safety rating. By building on a decentralized stablecoin, yBOLD has no risk of underlying collateral manipulation by a centralized entity. -- No oracles: No oracles are being used to price the collateral token rewards. +- Optimized rewards dumping: Instead of using hardcoded swap paths, Yearn sells liquidation collateral through a permissionless Dutch auction where MEV bots compete to fill. The auction starts at a buffer above the oracle price (≥115%) and floors at 95% of oracle, and refuses to sell at stale oracle prints. This is structurally better execution than a manual swap, with no sandwiching. -- Immutable: yBOLD is designed with immutability in mind. A few months after launch, once we're confident no funny stuff happens, we'll revoke any privileged rights (which are almost non-existent anyway). +- Oracle-independent price discovery: Collateral rewards are sold via competitive auction rather than being marked-to-market at an oracle price at report time. An oracle only provides a 95% safety floor (and stale-price guardrail) for the auction, it does not set the realized sale price. - Composable: yBOLD and ysyBOLD can be integrated into DeFi protocols as a productive version of BOLD.