ybBTC represents a share in the (ERC20 BTC - crvUSD) LP pool.
ybBTC represents a share in the (ERC20 BTC - crvUSD) LP pool.
[5] = ƒ(liquidity_share)
liquidity_share
— is the share of liquidity in the (ERC20 BTC - crvUSD) liquidity poolFuture Cashflow represents the trading fees yielded by a ybBTC holder in case of holding this asset (non-participation in the YB emission distribution).
[21] = ƒ([5], stake_rate, admin_fee, total_fees, total_ybBTC)
stake_rate
— is the relative amount of ybBTC staked by all usersadmin_fee
— is the minimal admin fee that determines the upper bound on the portion of fees allocated to the ybBTC holderstotal_fees
— is the totality of generated protocol feestotal_ybBTC
— is the total number of non-staked ybBTC, eligible for trading fees distributionDepositing ybBTC in the contract for YB emission distribution represents Access to receiving YB emissions instead of trading fees.
[4] = ƒ([5], deposit_operation)
deposit_operation
— is the act of depositing ybBTC to the YB emission distribution contract, which enables access to receive YBThis Future Cash Flow represents the YB emissions received by holders of the staked ybBTC.
[22] = ƒ([4], max_emission_rate, stake_rate)
max_emission_rate
— is the total cap on the YB token emissionstake_rate
— is the relative amount of ybBTC staked by all usersThis Conditional Action represents that the st-ybBTC (staked ybBTC) holder could also have the veYB position.
[8] = ƒ(veYB_amt)
veYB_amt
— is the amount of the veYB position owned by the st-ybBTC holderThis Future CashFlow represents an increment in the veYB fees received by st-ybBTC holders since the total yield received by veYB holders depends on the stake rate.
Staking an additional amount of ybBTC increases the stake_rate variable, increasing the total yield received by veYB and, therefore, the yield of any individual veYB position.
[23] = ƒ([8], stake_rate, minimal_admin_fee, total_fees, veYB_total)
stake_rate
— is the relative amount of ybBTC staked by all usersminimal_admin_fee
— is the lower bound of the portion of the fees allotted to veYB holderstotal_fees
— is the totality of the LP fees generated by the protocolveYB_total
— is the total amount of veYB in existence