ynLSDe
ynLSDe is a Liquid Restaking Token (LRT) developed to optimize yield from Liquid Staking Tokens (LSTs) by restaking them into EigenLayer. Users can leverage ynLSDe in DeFi to maximize returns on their restaked tokens without the need to unstake their assets. ynLSDe, at its core, is ynEIGEN—a generalized open-source LRT developed for EigenLayer that can accept and manage any asset, anticipating the restaking of LP tokens, stable coins, and more...
Our pioneering Liquid Restaking Token (LRT) ynLSDe is designed to maximize rewards on your LSTs with EigenLayer. It’s designed as a YieldNest Curated AVS Baskets and can function as collateral for the basket itself or serve as collateral for isolated AVS categories.
Key Features
Restaking of LSTs: Users can restake their LSTs from supported platforms like Lido, Frax Finance, Mantle, and Origin Protocol.
Supported Tokens:
Lido (stETH, wstETH)
Frax (sfrxETH)
Mantle (mETH)
Origin Protocol (OETH)
Reward Accumulation: Earn rewards from multiple sources such as ETH staking yield, restaking yield, EigenLayer Points, YieldNest Seeds, future AVS rewards, and AVS Airdrops.
Liquidity Maintenance: Maintain the liquidity of your staked assets while accessing higher yields.
Secure and Efficient: Designed with a streamlined code to minimize vulnerabilities and ensure security.
ynLSD Architecture
Value Accrual: ynLSDe is designed to auto-compound rewards, enhancing the token's underlying value over time. The token's value increases as rewards are distributed and compounded on-chain.
Value accrual example assuming an APY of 12.5% for ynLSDe:
| Day | ynLSDe | ETH |
|---|---|---|
Day 0 | 1 ynLSDe | 1 ETH |
Day 180 | 1 ynLSDe | 1.0625 ETH |
Day 365 | 1 ynLSDe | 1.125 ETH |
ynLSDe Use Cases
Enhanced Yield: Restake LSTs to earn boosted yields through our carefully managed AVS basket.
Controlled Exposure: Holding ynLSDe allows users to earn boosted yields by restaking an isolated selection of LSTs to a pre-selected and carefully vetted Basked of AVS categories—all by simply holding a single liquid token.
Providing Liquidity: Use ynLSDe to provide liquidity in external DeFi protocols like Curve, earning additional revenues from swap fees and liquidity mining.
Lending/Borrowing: Lend ynLSDe on decentralized money markets like Aave or Euler, or use it as collateral to borrow other assets, including ETH or various stable coins.
Profit Realization: Withdraw ynLSDe for the underlying LSTs plus the accumulated restaking revenue from AVSs on YieldNest, or swap ynLSDe for ETH on decentralized exchanges.
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