Strategies
Unagii executes curated Strategies by pooling deposits and supplying liquidity for each Stash and Growth vault into the protocols. All strategies are audited before fund deployment.
Compound Finance
Compound Finance is the very first lending and borrowing protocol that was launched in September 2018, allowing anyone to earn interest on or borrow crypto assets without a peer. Each lending market has a dynamic borrowing interest rate, which varies as market conditions adjust.
How is yield earned on Unagii?
Users' deposits are pooled in the Vaults
In return, users receive uTokens which represent a claim on their share of deposits with any accrued yield earned over time
Pooled assets are auto-deposited into the Compound strategy lending markets several times a day
Using the deposits as collateral, the same asset is borrowed and lent out several times to lever up on the $COMP emission yields
$COMP earned from lending and borrowing will automatically be sold into the native Vault asset once every 3 days
Stash Vaults
V1 USDC Vault and V2 USDC Vault - Compound Leveraged strategy $USDC is a stablecoin issued by regulated financial institutions, backed by fully reserved assets, redeemable on a 1:1 basis for US dollars, and governed by Centre, a membership-based consortium that sets technical, policy and financial standards for stablecoins. The Compound Leveraged strategy lends out $USDC to Compound Finance, and borrows back $USDC at a safe LTV (loan to value) ratio. This is repeated a few times to lever up the $COMP incentives that are emitted when users lend and borrow assets on Compound Finance. The $COMP tokens are automatically harvested and sold back to $USDC to compound yields. Using the same underlying asset for both lending and borrowing removes oracle pricing risks from the strategy.
V1 DAI Vault - Compound Leveraged strategy $DAI is the native stablecoin issued from MakerDao, a decentralized protocol that allows you to mint the $DAI stablecoin using a variety of whitelisted tokens as collateral. The Compound Leveraged strategy lends out $DAI to Compound Finance, and borrows back $DAI at a safe LTV (loan to value) ratio. This is repeated a few times to lever up the $COMP incentives that are emitted when users lend and borrow assets on Compound Finance. The $COMP tokens are automatically harvested and sold back to $DAI to compound yields. Using the same underlying asset for both lending and borrowing removes oracle pricing risks from the strategy.
Curve Finance
Curve Finance is one of the earliest automated market maker (AMM), a type of decentralized exchange protocol in the market. It was launched in early January 2020.
Curve operates as an exchange liquidity pool on Ethereum designed for (1) efficient stablecoin and crypto asset trading with extremely low slippage (2) low risk, supplemental fee income for liquidity providers, without an opportunity cost.
Enhancing yield with Convex Finance
Convex allows liquidity providers on Curve to earn trading fees and claim boosted $CRV without locking $CRV themselves. Liquidity providers can receive boosted $CRV and liquidity mining rewards with minimal effort.
On top of earning $CRV, liquidity providers also receive liquidity mining rewards in the form of $CVX, hence boosting the yield for Unagii users.
How is yield earned on Unagii?
Users' deposits are pooled in the Vaults
In return, users receive uTokens which represent a claim on their share of deposits with any accrued yield earned over time
Pooled assets are auto-deposited into the Curve strategy liquidity pool several times a day
LP (liquidity provider) tokens are received in return and auto-staked into the Convex staking pool (or Curve staking pool for V1 vaults)
$CRV (and $CVX and any other incentive tokens) earned from staking will automatically be sold into the highest premium asset once every 3 days
Stash Vaults
V1 USDT Vault - Curve USDP Metapool strategy $USDP is the native stablecoin issued from Unit protocol, a decentralized protocol that allows you to mint the stablecoin $USDP using a variety of whitelisted tokens as collateral. Providing liquidity to the $USDP Curve pool will allow Unagii users to earn trading fees from trades on Curve and $CRV incentives via staking of the LP tokens. Rewards will be sold into the most premium Stablecoin and compounded.
V2 USDT Vault and V2 DAI Vault - Convex alUSD Metapool strategy $alUSD is the synthetic stablecoin issued from Alchemix, a future-yield-backed synthetic asset platform that gives you advances on your yield farming via a synthetic token that represents a fungible claim on any underlying collateral in the Alchemix protocol. For more information on how Alchemix works, kindly visit their documentation. Providing liquidity to the $alUSD Convex pool will allow Unagii users to earn trading fees from trades on Curve, as well as $CRV, $CVX and $ALCX incentives via staking of the LP tokens. Rewards will be sold into the most premium Stablecoin and compounded.
Growth Vaults
V1 WBTC Vault - Curve oBTC Metapool strategy This Metapool helps further increase the liquidity of Bitcoin on Ethereum and makes it easier for users to swap between different variants of wrapped $BTC. $oBTC is backed by $BTC and created by BoringDAO – a decentralized bridge that allows users to transfer assets across blockchains via a minting tunnel. After Unagii deposits pooled assets in the strategy pool, we’ll receive our share of LP tokens which will be staked for $CRV and $BOR in the DAO liquidity gauge. We’ll then claim them from the minter gauge and sell them down to the most premium wrapped $BTC compound the earnings. Providing liquidity into this pool will also accrue trading fees from Curve users on the exchange of four different kinds of pegged-BTC tokens (including $oBTC) with low slippage.
V1 WBTC Vault - Curve BBTC Metapool strategy Binance Wrapped BTC is an ERC20 version of BTC that is issued by Binance as part of their BTokens offering.
Deposits will be pooled in the strategy pool, where we’ll receive our share of LP tokens which will be staked for $CRV in the DAO liquidity gauge. We’ll then claim them from the minter gauge and sell them down to the most premium wrapped $BTC and compound the earnings. Providing liquidity into this pool will also accrue trading fees from Curve users on the exchange of four different kinds of pegged-BTC tokens (including $BBTC) with low slippage.
V2 WBTC Vault - Convex BBTC Metapool strategy Essentially the same as V1 WBTC Vault - Curve BBTC Metapool strategy, but with LP tokens staked into Convex pool instead to earn $CVX on top of $CRV.
V1 ETH Vault - Curve stETH pool strategy This pool helps make staked $ETH 2.0 more liquid, so users can retain exposure and earn rewards. $stETH is a tokenised form of staked Ether native to Lido Finance – a staking solution for $ETH 2.0 built and backed by several industry-leading staking providers. By providing liquidity to this pool on behalf of Unagii users, Unagii will earn trading fees from Curve exchange transactions that take place within this pool. On top of that, we’ll also receive LP tokens in return which we’ll stake into the Curve gauge to receive $LDO and $CRV incentivized rewards. These rewards will then be sold into the most premium Ether and compounded. Users will be able to withdraw from the vault anytime in $ETH or $stETH.
V2 ETH Vault - Convex stETH pool strategy
V3 ETH Vault - Convex stETH pool strategy Essentially the same as V1 ETH Vault - Curve stETH pool strategy, but with LP tokens staked into Convex pool instead to earn $CVX on top of $CRV and $LDO.
Stargate Finance
Stargate Finance is a cross-chain bridging solution that enables the transportation of liquidity across EVM-compatible networks like Ethereum, BNB, Polygon, Arbitrum and more. Stargate Finance was launched in 2022 and is built upon the LayerZero protocol.
Stargate liquidity providers are rewarded with bridging fees and $STG tokens.
How is yield earned on Unagii?
User's deposits are pooled in the Vaults
In return, users receive uTokens which represent a claim on their share of deposits with any accrued yield earned over time
Pooled assets are automatically deposited into the Stargate strategy liquidity pool in exchange for Stargate LP tokens (e.g. S*USDC)
These LP tokens are then staked in Stargate's staking contract to earn $STG rewards
$STG rewards earned from staking will automatically be sold into the Vault's native asset every 3 days
Vaults
V3 USDC Vault
$USDC is exchanged for $S*USDC, earning bridging fees from Stargate users. $S*USDC is then deposited into the Stargate staking contract in order to earn $STG rewards, which are sold for $USDC and compounded back into the Vault.
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