APIR 28: Add Beefy 3CRV vault on Polygon to the 4th winelisting

Project presentation:
Protocol(s): Beefy.finance; Curve

IBT(s) requested: Name(s) and ticker(s) of the asset(s):

  • DAI/USDC/USDT: mooCurveAm3CRV

IBT contract address:

Current TVL on the requested IBT:

  • mooCurveAm3CRV : 2.32M$

Current TVL of the protocol(s) according to DefiLlama:
Beefy : 252M$
Curve: 5.09B$

Summary:
Add Beefy 3CRV vault on Polygon to the 4th winelisting

Rationale:

This proposal aims to integrate 3CRV Beefy vault on Curve to the 4th winelisting event.

APWine already has a 3CRV Curve IBT in the form of 90D-StakeDAO-sdam3CRV. However the StakeDAO vault earns a near zero APY and yet charges an 0.5% withdrawal fee. This essentially guarantees loss for any user who uses APWine to speculate on the yield generated by the underlying IBT.

The FYT will resolve to near zero (0.1% APY for the current period) and the FYT will resolve to 0.995.

The Beefy vault for the same asset at least appears to be earning a slightly higher APY (although that may not be the case, I haven’t looked closely enough just yet) but does not charge any fee for deposit or withdrawal. Although it has a smaller TVL than StakeDAO it is a materially better vault and allows for actual yield speculation rather than just being a means to drain APW incentives from the APWine treasury.

Benefit of this integration for Beefy community:

  • Additional yield opportunities
  • Increase the TVL of the mooCurveAm3CRV IBT

Benefit of this integration for Apwine DAO:

  • Increase the tokenized TVL and the AMM TVL
  • Diversify the yield possibilities for APWine community
  • Provide alternative vault for popular 3CRV assets which enables meaningful yield speculation

Voting options:

  • Add the mooCurveAm3CRV vault on Polygon
  • Don’t add mooCurveAm3CRV to the 4th winelisting vote
  • Abstain
  • Add the mooCurveAm3CRV vault on Polygon
  • Don’t add mooCurveAm3CRV to the 4th winelisting vote
  • Abstain

0 voters

2 Likes