SGR 51: ynETHx

Gauge Request Presentation:

• Targeted Pair: PT-ynETHx (https://app.spectra.finance/pools/eth:0x81d461e0162da7a470b882f39c4e1a97b9244aed)
• IBT contract address: 0x81d461e0162da7a470b882f39c4e1a97b9244aed
• Spectra Wrapped IBT:
• Current TVL on in the Pair’s liquidity: 1.0M$
• Current TVL as IBT:
• Twitter link: Yieldnest
• Chain : Ethereum mainnet

Simple summary:

ynETHx is a MAX LRT defining a new LRT class designed to optimize yield from ETH restaking and DeFi strategies using L1 settlement assurances all under 1 product. MAX LRTs rebalance assets across multiple tokenized strategies and multiple chains with the goal of achieving a risk adjusted 10-15% APY.

ynETHx generates yield from ETH staking, EigenLayer restaking, and DeFi strategies. Strategies are modular and enable the ability to add and remove strategies allowing ynETHx to adapt to an evolving market to maintain the highest-yielding restaking opportunities, while always keeping security and safety in mind. Strategies are managed by the YieldNest DAO/subDAO’s.

Restakers deposit ETH and wETH into YieldNest’s restaking pool and receive ynETHx back as a tradable and liquid “receipt” token representing the underlying yield-generating restaked ETH. The generated restaking rewards are distributed back to ynETHx holders, veYND tokens, and operators.

Benefit of this integration for Yieldnest

• Additional Yield: More yield opportunities for ynETHx holders and ynETHx-wETH LPers.
• Increased TVL: Boost in TVL for the liquidity pool.
• Project Visibility: Enhanced visibility within the DeFi space.

Benefit of this integration for Spectra

• Higher TVL: Increase in tokenized and AMM TVL.
• Yield Diversification: Broader yield options for users.
• Platform Visibility: Greater exposure for Spectra.
• Bribe Opportunities: Potential for bribes to benefit APW token holders.

Metrics:

ynETHx/wETH Curve pool with 15k+ TVL

The current Native APY is 12.5% +-

Community Stats:

• Twitter: 72.9k followers
• Discord: 19.7k members
• Telegram: 1013 members