The State of the Yeti

Yeti Finance
2 min readMay 27, 2022

Protocol Updates and more.

To say it has been a wild past few weeks would be an understatement: UST/Terra collapse, greater macro downtrend, and inflation on the rise.

However, contributors remains focused; a bear market is a natural part of any healthy economic cycle. Truly innovative projects with focused contributors will thrive and win in the long-term.

With that, here is the current State of the Yeti!

What Has Happened Since our Today and Tomorrow of Yeti Finance article?

UST/Terra Collapse

During the catastrophic fall of LUNA, many Yeti users were rightfully nervous about the state of crypto which includes the funds they had deposited in different protocols including Yeti Finance.

Throughout the chaos Yeti Finance protocol operated smoothly: undercollateralized loans continued successfully liquidated and arbitrage/redemption bots kept YUSD on peg.

We also took precautionary steps to deprecate aUSDT and qiUSDT during the USDT depegging event as well.

As of 5/26/22 there is $162M of deposited collateral in the protocol with 140M circulating YUSD. YUSD remains over-collateralized with high quality assets such as WBTC, WETH, AVAX, and other yield bearing stablecoins like qiUSDC and aUSDC.

Product Updates

Multiple features have been shipped including adding:

  • veYETI Curve Liquidity Provider reward boosting: max boosted positions are earning up to 24% APY
  • More information to the Dashboard page, so you can now see a summary of your staking and farming
  • Live auto-compounding APRs for interest bearing asset deposits
  • A boosting calculator for veYETI
  • Un-deprecated and added 25M capacity to qiUSDT, aUSDT, and a3crv

What is the being working on right now?

  • veYETI Boosting for Platypus Liquidity Pool and Stability Pool
  • Improved borrowing model
  • Developing partnerships to create additional YUSD utility
  • Improvements to redemption model to keep YUSD on peg more consistently
  • Redemption UI for YUSD on the frontend
  • Undergoing a website overhaul to deliver a cleaner borrowing and trove management experience for users
  • Building a Trove History page to get more insights on your historical trove data: yield, collateralization ratio, portfolio trends

Until The Next State of the Yeti

Thank you for all the support over the past three weeks–crypto has been going undergoing some turbulent times, but Yeti is not going anywhere. .

About Yeti Finance

Yeti Finance is a next-gen decentralized borrowing protocol built on Avalanche. This innovative protocol enables users to borrow against their entire portfolio of crypto assets, while continuing to earn the rewards that their deposited assets generated.

Unlock deep liquidity, borrow at the lowest collateral ratios, and borrow against your entire portfolio to gain better protection against liquidations.

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