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9 changes: 5 additions & 4 deletions docs/getting-started/products/yvaults/overview.md
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Expand Up @@ -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

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31 changes: 0 additions & 31 deletions docs/getting-started/products/yvaults/vault-tokens.md

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21 changes: 12 additions & 9 deletions docs/getting-started/products/yvaults/yBold.md
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@@ -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
Expand All @@ -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.

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seems like this line could be combined with the prior one as they seem to repeat very similar information


- Composable: yBOLD and ysyBOLD can be integrated into DeFi protocols as a productive version of BOLD.

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7 changes: 5 additions & 2 deletions scripts/fetchedAddressData.json
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@@ -1,5 +1,5 @@
{
"timeLastChecked": 1779740296,
"timeLastChecked": 1784652070,
"addressesData": {
"v3ContractAddresses": {
"topLevel": {
Expand Down Expand Up @@ -138,7 +138,10 @@
"is303TokenizedStrategyMatch": true,
"is304VaultOriginalMatch": true,
"is304FactoryMatch": true,
"is304TokenizedStrategyMatch": true
"is304TokenizedStrategyMatch": true,
"is310VaultOriginalMatch": true,
"is310FactoryMatch": true,
"is310TokenizedStrategyMatch": true
},
"yearnV3": {
"accountantCheck": true,
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10 changes: 2 additions & 8 deletions sidebars/sidebarsUserDocs.js
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Expand Up @@ -72,15 +72,9 @@ module.exports = {
],
},
{
type: 'category',
type: 'doc',
id: 'products/yvaults/yBold',
label: 'yBOLD',
link: {
type: 'doc',
id: 'products/yvaults/yBold',
},
items: [
'products/yvaults/vault-tokens',
],
},
{
type: 'link',
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2 changes: 1 addition & 1 deletion src/ethereum/constants.ts
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Expand Up @@ -191,7 +191,7 @@ export const protocolPeriphery = {
baseFeeProvider: '0xe0514dd71cfdc30147e76f65c30bdf60bfd437c3',
commonReportTrigger: '0xf8dF17a35c88AbB25e83C92f9D293B4368b9D52D',
auctionRegistry: '0x94F44706A61845a4f9e59c4Bc08cEA4503e48D12',
auctionFactory: '0xbA7FCb508c7195eE5AE823F37eE2c11D7ED52F8e',
auctionFactory: '0x55B3830B4D85e6868c73f00A2e857e9AdbF89568',
dumper: '0x590Dd9399bB53f1085097399C3265C7137c1C4Cf',
splitterFactory: '0xe28fCC9FB2998ba57754789F6666DAa8C815614D',
registryFactory: '0x3A0fa8aac82aD94048098D6af6e8eB36c98816A1',
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