yYB Overview
What is yYB?
yYB is Yearn's veYB yLocker product. It is designed to tokenize the different benefits of a veYB position in a simple, user-friendly way. Let's review the basics of liquid locker tokens like yYB:
- 1 yYB represents 1 veYB permalocked to Yearn
- They are not redeemable for the underlying locked YB
- They have no transfer restrictions and thus can always be swapped in DEX pools
yYB gives users access to veYB revenue sources (admin fees and vote incentives) without giving up the option to instantly exit their position. Depositing to yYB also allows Yearn to use the locked YB to actively participate in Yield Basis governance.
For more information about Yearn's Liquid Lockers, read the overview here.
Get yYB
yYB is a wrapped version of YB. But unlike other wrapped tokens like WETH, it cannot be unwrapped as it is forever max-locked into the veYB system. But, unlike veYB, it can be swapped on DEXes.
If you have YB tokens...
- You can convert them to yYB by minting yYB at a 1:1 rate here
- You can buy yYB via Curve or CowSwap, which may get you a better rate
If you have an existing veYB position...
- You can convert your veYB to yYB at a 1:1 rate here after completing these steps:
- Clear votes - Remove gauge weight allocations
- Max lock - Permalock your YB
Earn yield on yYB
Yearn has two ways to earn yield on your yYB; depositing to the YearnBoostedStaker contract to earn crvUSD or depositing to the yYB Auto-Compounder vault (yvyYB) to earn more yYB. The differences and details are documented here. Once you know which path you want to take, you can follow the step by step guide here.