Overview

Yieldies

Summary

A Yieldy is an ERC20 rebasing token that is redeemable 1:1 with the underlying ERC20 asset. The system allows a user to stake the underlying asset in order to mint a yieldy version of the asset. The underlying asset is then deployed into the DeFi ecosystem to generate yields that are redistributed to stakers in the form of rebases to a user's balance of the Yieldy asset. Users get access to simplified yield that can easily be transferred to another user without having ever to worry about un-staking and can watch rewards accrue to their wallet each week without having to perform any actions.

Background

In March 2022 the Shapeshift DAO launched FOXy, a rebasing version of FOX that allow FOX holders to stake their FOX and earn yield as their balance of FOXy increased in their wallets weekly. The underlying FOX collateral was deposited into Tokemak to provide additional liquidity and TOKE rewards. These TOKE rewards were then transferred to the Shapeshift DAO treasury and converted to FOX that powered the rebases in FOXy. From this design, Yieldies were born to generalize the same mechanism across any ERC20 asset.

More Info

Additional Help

For more help, please join the Shapeshift Discord

Audits and Github Repo

All code and associated audits can be found on our github repo

Future versions

Many improvements are in the works for future version of yieldies, including adding additional yield generation strategies
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Yieldies
Summary
Background
More Info
Additional Help
Audits and Github Repo
Future versions