Basis Yield ETH Index
1. Summary
- Description
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Basis Yield ETH Index (BYETH)
Basis Yield ETH Index (BYETH)
Basis Yield ETH Index is a decentralized investment strategy that leverages the basis trading mechanism through perpetual swaps on Optimism. By automating simultaneous long spot ETH and short perpetual vETH positions, the token provides a price-neutral yield to holders, capturing the funding rate between perpetual and spot prices. This strategy ensures a fully hedged position, eliminating net price exposure to the underlying asset.
Yield Mechanism
Basis Yield ETH Index automatically adjusts the short and long positions to maintain a delta-neutral state. The token captures the funding rate through periodic USDC payments between traders, which is predominantly positive in the ETH perpetual market. Yield is auto-compounded every seven days without the need for manual intervention from token holders.
Integration and Liquidity
BYETH is an ERC-20 token that can be freely integrated, exchanged, and used as collateral in various DeFi applications. The token can be minted or redeemed permissionlessly through the Index Coop app.ARGIN Pools on Uniswap v3 support liquidity for BYETH, ensuring easy access for users.
Fees
- Streaming Fee: 0.95% (95 bps)
- Mint Fee: None
- Redeem Fee: 0.30% (30 bps)
Use Cases
- Collateral for DeFi applications
- Component of yield aggregators
- Integration into various tokens and protocols
Key Features
- Target leverage ratio of -1.0x with max/min ratios of -2.0x and -0.95x
- Auto-compounding of realized yield
- Maintenance of a delta-neutral position through smart contracts and keeper systems
- Fees for streaming and redeeming tokens
| Price | |
| 52W High price | $101.32 |
| 52W High date | 16th Jun 2022 (2 years ago) |
| All Time High (ATH) Date | 23rd Dec 2024 (5 months ago) |
| All Time Low (ATL) Date | 23rd Dec 2024 (5 months ago) |
| Supply & Trading Volume | |
| Trading Volume (24h) | $12.00 |
How does Basis Yield ETH Index's () performance compare to the median performance for assets of a similar market capitalization?
30 Day Return
%
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Similar Market Cap
No GitHub repos found. Either the project is not open source or we don't have data yet.
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Historic data is only available from 22nd April 2022
Total Followers
| Reddit Subscribers | |
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| Active Reddit Users (past 24h) | |
| Discord users | |
| Active Discord Users | |
| Telegram Users | |
| Twitter followers | 4,516 |
No recent news found.
Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:
| Website | https://www.tokensets.com/v2/set/optimism/0x927Eb0dBC5c3FD172Fdfa72D563f71612eCB6122 |
|---|---|
| Explorer | https://optimistic.etherscan.io/token/0x927eb0dbc5... |
| @galleondao |
What is the correct contract address for Basis Yield ETH Index?
| Optimistic-ethereum | 0x927eb0dbc5c3fd172fdfa72d563f71612ecb6122 |
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Has Basis Yield ETH Index been audited for security?
No security audits found for this project.
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