SGR 31: ynETH gauge listing request

Gauge Request Presentation:

• Targeted Pair: PT-ynETH 0x614e842ef4b9a1bbed7fba7a333a3959c0ee1161
• IBT contract address: 0x09db87a538bd693e9d08544577d5ccfaa6373a48
• Spectra Wrapped IBT: 0x6e0dccf49D095F8ea8920A8aF03D236FA167B7E0
• Current TVL on in the Pair’s liquidity: $50K
• Current TVL as IBT: 12M$
• Twitter link: Yieldnest
• Chain : Ethereum mainnet

Simple summary:

ynETH is an nLRT that exposes users to a dynamically curated Basket across DeFi and Restaking protocols comprising off AVSs across multiple industry verticals. The YieldNest DAO carefully selects and fully vets all of the operators and AVS within ynETH’s Basket to deliver an nLRT with the highest possible risk-adjusted yield.

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

Benefit of this integration for Yieldnest

• Additional Yield: More yield opportunities for ynETH holders and ynETH-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:

ynETH/wstETH Curve pool with 8.3M+ TVL The current Native APY is 3.28% ± +- EIGEN rewards

Community Stats:

• Twitter: 25k followers
• Discord: 15.6k members
• Telegram: 1150 members