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The most classic design of Yield Farming. If some strategy provides claimable rewards for a token, Tetu developers can create a strategy for automating this process.
When depositing in the vaults, the strategies will claim the rewards and sell them for the underlying tokens. This process will increase the underlying assets of each user participating in the vault over time, this is called autocompound.
There are vaults that work according to PS ratio. The PS ratio determines the rate of rewards that will be distributed between the auto compound of the underlying vault and the then divided by the Profit Destination ratio to xTETU Profit Share, Protocol Owned Liquidity, and the Investment fund.
The PS ratio has been in existence since the inception of Tetu, the purpose of the PS ratio is to keep yield farming vaults attractive and it is adjusted through DAO voting. The dxTETU holders decide whether it is changed.
When users deposit QI into tetuQi vault, QI is locked into eQi for a maximum period of 4 years. All deposits will be locked for a maximum period of 4 years and after that period they will be locked again for a maximum period of 4 years, so technically all QI deposited on tetuQi are locked permanently.
The tetuQi token represents QI tokens locked for the maximum period in QiDao. In order for the users to participate in tetuQi, all that is required is deposit QI tokens in the tetuQi vault. QI tokens deposited in the vault will create tetuQi at a ratio of 1:1.
QI deposited in tetuQi is technically in permanent locking. Although it is impossible to withdraw from tetuQi vault directly there is still an alternative to withdraw QI from tetuQi which is to sell tetuQi on Balancer.
Although selling tetuQi is an alternative to withdraw the assets of the vault, the user will have to beware of slippage costs. Despite the slippage costs tetuQi LP provides a withdrawal alternative for users to receive the earnings and benefits of QI locked for 4 years and still retain the option to withdraw assets by selling tetuQi.
tetuQi is a product that represents positive points for both Tetu and QiDao, the advantages for QiDao is that tetuQi will lock more and more QI tokens permanently as more QI are deposited. And the advantage for Tetu is that the larger the deposits in tetuQi, the greater the Tetu's voting power in QiDao.
This voting power is used to increase the amount of QI rewards distributed to Tetu's Multi Strategies. This increases the APY obtained by users through these strategies.
tetuQi on Medium
QiWars on Medium
On Tetu's website, users can find a detailed description of each strategy used by the protocol. This information is available by hovering over the APY signals on the website. The strategy description provides a clear explanation of how the strategy works, any fees that may be charged, and a detailed breakdown of the APR. This information is crucial for users to understand the risks and potential rewards of investing in Tetu's strategies. We recommend that users take the time to read the strategy descriptions carefully before making any investment decisions.
These vaults use Tetu's single asset Tetu Farm vaults to generate yield, but continuously compound all claimable rewards from the Reward Boosting System into the underlying asset. This strategy requires little maintenance from the user at the cost of the early withdraw penalty and lack of TETU rewards.
With the cost of less yield, you gain the convenience of having all rewards directed into the underlying deposited asset, requiring no maintenance of the position other than depositing and withdrawing, which also provides a more composable solution for future integrations.
It is a unique strategy based on MultiStrategy solution.
MultiStrategy contains "pipes" inside - parts of strategy specially deployed for specific platform.
This strategy has 4 pipes:
AAVE - deposit underlying token in AAVE to receive amToken
QiDao - deposit amToken in the yield part of QiDao to create camToken
MaiStablecoin - create a vault on QiDao for the camToken and borrow MAI token
BalVault - deposit MAI token in the Balancer pool
After the launch users experienced a problem with calculating the long-term profitability of this strategy.
Let's describe all components that will bring you a profit and try to estimate the income.
When users deposit tokens in AMB Multi Strategy they will receive a share token TETU_MULTI_xxx which represents the amount deposited at the current time.
Vault has a share price that depends only on 1 strict attribute - how much underlying token the vault can get after the full withdraw from all pipes.
This process is simulated within the strategy every time when an user deposits/withdraws or when pipes are rebalanced. This process includes "revert action" and Polygonscan detect it as a warning event. Don't worry, it's ok and it's just an implementation specific trick.
At the time of depositing in AMB Multi Strategy, there is a 0.3% fee on the total deposit to cover the repayment commission of the MAI and Swap fee on Balancer, so the user will receive the share tokens minus 0.3%. When depositing in the vault the assets will be immediately deposited in the AMB Multi Strategy and the MAI swap and repayment fees will already be counted.
However, it is not possible to calculate the exact amount of fees because the vault does not read the strategy's logic and only understands how many underlying assets are under control.
0.3% deposit fee is a maximum repaying fee at the moment of deposit. It can be lower, and the gap will go to vaults users as a "synthetic income".
It can lead to dramatically increasing share price in the momentum.
In general this can be interpreted as operating costs being reduced as less than 0.3% of fees are charged and the amount saved is provided directly to Multi Strategy users.
Next good question - What factors can influence the amount to be withdrawn and the share price? Can the share price change?
The camToken has autocompounding nature and periodically its value increases on the QiDAO platform. We don't touch this process, you will have full income from AAVE supply + AAVE rewards. 3-5% APR
Balancer trading fees for borrowed MAI deposited in the pool (we use ~50% of the underlying cost). 1-2% APR
This amount will be used a little bit to cover MAI price fluctuation until enough money is accumulated.
In the scenario in which the price of the underlying asset falls by more than 50%, the borrowed MAI will be partially repaid.
This is a very rare scenario and the strategy has a big gap that sets it up for huge market fluctuations.
When the price of the underlying asset increases, Multi strategy will borrow more, in which case more swap and repay fees will be charged. This happens only when the price of the underlying asset reaches a new level. The repayment fee will be counted and the share price will drop a little.
It should be around usdValueOfAssetChange / 2 * 0.05. If ETH pump in price to 10% the share price will be changed ~0.0025%
The Multi strategy borrow MAI and provide it to the Balancer pool. If the price of MAI increases, the strategy will withdraw a little less of MAI.
It will be covered with time by the buffer that we will have from trading fees. But until this buffer doesn't cover the possible gap the result of full withdraw will be a bit lower. It will lead to the share price decreasing in a period when the MAI price is higher than the value when the most underlying was deposited.
The longer the strategy works the less volatile this process will be.
Let's say $1000 is deposited in the AMB Multi strategy, 500 MAI is borrowed. The MAI is provided to the Balancer, after that the MAI price increases to $1.1, the strategy will only be able to withdraw 450 MAI. With this amount the strategy will be able to pay only $900
But there will still be $100 of collateral, it's like an impermanent loss.
Every week QiDAO and Balancer disperse rewards for depositors.
Tetu users always have TETU token rewards instead of them.
With the current rate (30%) Tetu users will have 30% of this distribution.
Another part of rewards is covered with TETU tokens distributed every day based on vault performance. Usually, it is much higher than you will be able to receive without Tetu platform.
You will not be able to deposit to the vault if QiDAO doesn't have enough MAI liquidity.
In some rare cases when the strategy wants to borrow more, you will be unable to deposit more than the deposited amount + strategy borrowing amount.
The strategy has a limitation - If you are going to withdraw an amount that is less than 0.1% of the acquired amount the transaction will be reverted. Usually, this means that the price of MAI is too high and it's better to wait a bit. However, we may perform a manual rebalancing if the MAI price remains high.
The liquidation price is variable and when AAVE gets close to it the strategy will rebalance the assets by withdrawing from the Balancer and repaying QiDao to increase the collateral to debt ratio. So the user will never be liquidated. Although liquidation is technically possible the chances of liquidation are close to 0%.
The first step in implementing our vision is to launch Tetu’s yield farming platform to generate stable cash flow for investors.
Vaults and Pools are merged into one contract - the Smart Vault. Now you have one place where you store all your money, and are free to use interest-bearing xVault tokens as collateral. This dramatically increases the composability of the asset while minimizing the number of interactions our investors have to make in order to benefit from the full compounding effect of their farms.
The Investment Fund serves to allocate resources towards investments, with an aim to create a sustained flow of financial returns. Prior to the implementation of Tetu v2, a fixed percentage, specifically 10%, of all rewards were directed towards the Investment Fund. However, with the introduction of Tetu v2, this ratio is now determined through veTETU voting on platform attributes.
Multi Strategies is the concept of yield farming using multiple protocols. The goal of Multi Strategies is to provide a good auto compound return on single assets without impermanent loss risk through the automated integration of multiple yield farming solutions.
Multi Strategy works as a slightly leveraged and automated yield farming strategy. Technically, Multi Strategies can be liquidated if the price of the underlying asset drops by approximately 60% in a few blocks.
Multi Strategy manages the assets automatically so that when there is a price drop, it repays part of the loan on QiDao, increasing the collateral to debt ratio. Due to the rare condition of price drops close to 60% in a few blocks and the systematic repayment of loans on QiDao as the price drops, the risk of asset liquidation in Multi Strategy is close to zero.
AMB v2 has four steps:
AAVE - deposit underlying token in AAVE to receive amToken
QiDao - deposit amToken in the yield part of QiDao to create camToken
MaiStablecoin - create a vault on QiDao for the camToken and borrow MAI token
BalVault - deposit MAI token in the Balancer pool
AMB v2 has a 0.3% deposit fee to cover MAI repayment commission and Balancer swap fees.
Rewards on QiDao and Balancer are claimed on a weekly basis. AMB v2 also receives rewards from TETU emissions, these rewards are approximately 10% of the buyback of the strategies.
The Multi Strategy structure causes share price fluctuations that affect the amount of deposited assets. Multi Strategy earnings are auto compounded, this makes the share price trend to grow over time. This way the Multi Strategy shares will look like an interest bearing token.
Multi Strategy's APR does not drop if the TVL in the vault increases too much as it usually does with regular yield farming vaults. This happens because incentives from Balancer and QiDao are high and Multi Strategy auto compound the earnings. This scenario gives Multi Strategy a high capability of TVL in its vaults.
If there is not enough MAI liquidity on QiDao it will not be possible to deposit in the Multi Strategy. The maximum possible deposit is displayed on the vault page. If the MAI price is too high, the withdrawal transaction may be reverted and it would be better to wait a while.
Multi Strategy v2 on
AMB on
YJN58's is very instructive about Multi Strategy. (Credits to )
Tetu Boosted Pools offer an innovative way for users to maximize their yield farming potential. Similar to AAVE boosted pools on Balancer, Tetu Boosted Pools employ Tetu vaults powered by strategy splitter instead of AAVE. This shift offers users a unique opportunity to increase their yields by utilizing a range of advanced strategies.
The basic concept of Tetu Boosted Pools is that when users deposit on Balancer, any idle assets are automatically deposited into Tetu vaults. These vaults are designed to generate additional income by automatically investing in various platforms.
The Tetu Boosted Pools incorporates a unique feature from Tetu's vaults known as Strategy Splitter. The Splitter allocates deposited assets between different DeFi platforms such as AAVE, Compound and dFORCE. This allows users to diversify their investments and earn higher yields through multiple platforms. The Tetu Boosted Pools offer a number of advantages over traditional yield farming strategies. By utilizing Tetu Boosted Pools, users can achieve a higher return on investment with minimal risk. Additionally, the strategy is fully automated, allowing users to earn yield on their assets without the need for constant monitoring.
For those interested in learning more about Balancer Boosted Pools, comprehensive documentation is available.
To invest in Tetu Boosted Pools, visit the Balancer pools page on Polygon and search for Tetu.
tetuBAL is a liquid market product for the Balancer platform.
Permanent Locking
Governance rights and increased value for veTETU
Balancer revenue earnings, swap fees and liquidity mining rewards
Max boost for locking veBAL for the maximum period
Exit Liquidity
Low costs
tetuBAL is the liquid market product offered by Tetu for the Balancer platform. This strategy marks the beginning of Tetu's innovative interaction between multiple blockchains; utilizing the Ethereum network from the convenience of the Polygon network to provide minimal fees and a seamless experience for users.
Through tetuBAL, users will be able to obtain most of the benefits provided by locking veBAL for the maximum period, such as increased revenue share from Balancer, and a higher multiplier on gauge weight voting for BAL emissions, all while having the option to enter or exit the position as you please on the polygon network.
To enter the tetuBAL vault users must deposit both BAL and WETH on Balancer Pool on Polygon to get the B-80BAL-20WETH BPT token, and then deposit the BPT token into the Tetu vault for tetuBAL.
tetuBAL locks 80/20 BAL-WETH LP in veBAL for a maximum period of 1 year. At the end of the locking period, the assets are locked for a maximum period of 1 year again so that all assets deposited in tetuBAL are practically locked forever. So, despite the exit liquidity option provided to users, tetuBAL provides permanent liquidity deposited in the Balancer protocol.
BPT no voting power
1 tetuBAL 100% voting power
1 veTETU power by the formula (tetuBAL balance in BPT) / (veTETU total supply) veTETU power has a cut of 20% for tetuBAL buybacks
The process is now simplified as follows:
All bribes from the markets will now be distributed exclusively to xtetuBAL holders.
The performance fee for xtetuBAL has been reduced from 15% to 5%.
veTETU is now counted as power deposited to xtetuBAL. As such, veTETU holders will receive bribes without needing to vote.
These adjustments aim to make the distribution process more efficient and less resource-intensive.
Participants in the proposal will eligible for rewards from:
The methodology for selecting the block for reflection snapshot ensures a reasonable degree of randomness in determining whether a user who locks veTETU will be immediately eligible to vote or must wait for a period, which will not exceed two weeks; however, after two weeks, voting eligibility is guaranteed.
Tetu will claim veBAL rewards weekly on Balancer and users will receive veBAL rewards in wrapped tetuBAL and TETU. All veBAL rewards comes from Balancer revenue earnings, swap fees and liquidity mining rewards.
BAL token holders have the option to stake their tokens into veBAL for a chosen period of time in order to receive more voting power for the gauge weight voting, and to increase revenue and rewards they receive from Balancer. The benefits received scale with the duration of the lock, ranging from minimum boosts with a two week lock, to maximum boosts with a one year locking period.
veBAL holders have the power of directing weekly gauge emissions to specific Balancer pools. 90% of the weekly rewards are directed by veBAL gauge weight voting, with the remaining 10% being strategically allocated for partnerships by the Liquidity Mining committee.
BAL token emissions are now distributed into the ecosystem with new allocations; veBAL holders are allocated 10% of BAL rewards, proportional to the percentage staked out of the entire veBAL balance staked. 56% of BAL rewards are reserved for Ethereum mainnet pools, while Polygon pools and Arbitrum pools receive 17% and 7%, respectively. All gauge weights for Ethereum, Polygon, and Arbitrum pools are voted for by veBAL holders on Ethereum.
Users can still earn some liquidity mining incentives and swap fees from Polygon and Arbitrum, but they are unable to receive the boosted liquidity mining rewards and 75% of the protocol earned fees that veBAL holders are entitled to on Ethereum. This is where Tetu steps in, providing to all users, regardless of chain, the benefit from the boosted liquidity mining rewards and protocol earned fees.
There is a dedicated contract on the Ethereum network, BalLocker, this contract has the unique role of voter. Only the voter can be used to vote on gauges and participate in snapshot proposals.
Gnosis Safe: 0x84169ea605619C16cc1e414AaD54C95ee1a5dA12
xtetuBAL is a strategy developed by Tetu that automatically allocates voting power into the most effective gauges in order to maximize earnings in bribes. This strategy is based on tetuBAL and is designed to provide high yields for tetuBAL holders.
Automated allocation of voting power into the most effective gauges to maximize earnings in bribes
5% of earnings in xtetuBAL is used to build tetuBAL Protocol Owned Liquidity
Profits from bribes are airdropped as USDC or xtetuBAL to participants of xtetuBAL.
veTETU is considered as power deposited into xtetuBAL. Only xtetuBAL and veTETU holders will receive distributions of all bribes from the markets.
The APR of xtetuBAL can be calculated by dividing the total amount of bribes by the TVL in the strategy. This calculation provides an estimate of the percentage return that can be expected from staking funds in xtetuBAL. The APR shown on the UI comes from the previous bribe round.
By default, bribes are distributed as a USDC airdrop, but you have the option to switch and receive bribes in xtetuBAL as your preferred asset or continue receiving them in USDC.
tetuBAL contract
veBAL is Balancer's governance product. Through veBAL, users can lock their 80/20 BAL-WETH liquidity pool tokens to boost the rewards of deposited assets, obtain voting rights, and receive a portion of Balancer's revenue.
Voting rights on Balancer DAO proposals provided by veBAL are still preserved by Tetu, so that veTETU holders can vote and decide on Balancer proposals. In this way, tetuBAL users waive the right to vote on governance proposals in exchange for the benefits provided by the product, as a result veTETU token obtains an even greater value provided by the backing of veBAL assets permanently deposited in the Tetu ecosystem. veTETU holders can vote to direct veBAL votes from Tetu assets through reflect governance voting in .
Following the implementation of , 20% of the veTETU voting power in the tetuBALPower contract was reduced. This amount of veTETU power will now be allocated for collecting bribes, which will subsequently be utilized for the buyback of tetuBAL tokens. The tetuBAL bought-back tokens are held by the address
After was put into effect, changes to the tetuBAL bribes distribution system were implemented. This was necessitated by the significant complexity and high gas consumption of distributing bribes from all markets individually.
Every two weeks we are creating a reflection proposal. The proposal reflects Balancer's liquidity mining emissions.
Hidden Hand bribes
Warden quests
Tetu community
A block for reflect proposal will be chosen in a range of blocks between the start date of the previous proposal (not the snapshot block!) and the current block. The reflect proposal is determined by the block with the highest amount of tetuBAL in the pool, and the selection of the reflection snapshot block works according to the .
tetuBAL can be traded in the available on Polygon. In addition to exit liquidity, the pool can also be used as an option for the direct acquisition of tetuBAL. This feature can provide advantages for buying tetuBAL directly when tetuBAL is priced below the peg instead of minting tetuBAL by depositing the 80/20 BAL-WETH LP into tetuBAL. This will also provide opportunities to arbitrage as the stability of the peg fluctuates.
Name | Address |
---|
BalLocker -
BalDepositor -
BalSender -
Providing Liquidity: Users can contribute to the liquidity pool, which primarily involves a pair of . It's essential to note that the control of tetuBAL within this liquidity pool is exercised by veTETU holders.
Holding tetuBAL Tokens: Users who hold tetuBAL tokens in their wallets are granted the right to vote on proposals shared in and veTETU has no control over anything outside the LP.
Depositing into xtetuBAL: In this scenario, the TETU platform manages the voting process associated with tetuBAL tokens, thus maximizing value-per-vote. For this service, TETU takes a 5% fee, while the remaining 95% is distributed among all users who have contributed to the vault.
xtetuBAL is a powerful yield optimization strategy designed for tetuBAL holders. By automatically allocating votes to the gauges with the highest bribes, it maximizes earnings and ensures the highest possible return on investment. To invest in xtetuBAL, please visit the following link
0x0644141DD9C2c34802d28D334217bD2034206Bf7 |
0x329c54289Ff5D6B7b7daE13592C6B1EDA1543eD4 |
0xE4067ED66738dBDC7b8917703C8c380d898033F8 |
0xc156C57231a9302D9f5C7b5eF22871cC25F40736 |
Benjamin - QiDao | 0xdb9c38cf1d0dca95ef5b5def9688562b142f96b2 |
tetuMESH is a liquid staking product. Through tetuMESH it is possible to participate in MESH staking obtaining the benefits of locking MESH for the maximum period. By minting tetuMESH the MESH will be locked in Tetu practically forever. But it is possible to sell tetuMESH on Meshswap.
In the same way it is possible to buy tetuMESH directly instead of depositing MESH, this option becomes more attractive when there is a discount on the price of tetuMESH. You can learn more about Meshswap in the documentation.
There are two MESH strategies available in Tetu, lock MESH by 1:1 tetuMESH or deposit tetuMESH-MESH LP. To obtain the tetuMESH-MESH LP it is necessary to deposit it on Meshswap. There is a step by step of how to deposit tetuMESH-MESH LP on the liquid staking page.
Earnings based on maximum Meshswap locking period.
MESH staking rewards, airdrop token rewards, pool transaction fee rewards, and ecopot token rewards with 8x efficiency.
Exit Liquidity
Smart Vault is a combination of implementations drawn from Synthetix pool for their innovative reward distributing and Yearn vault for their share price model.
Both implementations are well tested and audited, so implement them without major changes.
Vaults have protection against external contract usage and any contract is whitelisted before being put to work in our protocol.
No fees for deposit / withdraw
By default all vaults use the Synthetix pool mechanics for distributing wrapped profits during the week long period.
Vault rewards have two parts - weekly rewards from TETU emission and rewards that vaults strategy earns from an external project.
When you stake assets - the asset will earn yield - and this yield will distribute the following 4 weeks (without any locking period). Anyone who enters the vault will get a part of previous profits and stop earning their portion of the profit share upon leaving the vault.
It is a system for rewards that decreases over time. One thing to consider is that the investor will hold an asset for 4 weeks after the rewards end in the external pool due to the distributing period. It will be good for the external project since we provide liquidity even when they end the rewards period. Some external projects increase the underlying value during the time (like Wault pools) and it will be reflected in the share price.
The concept of vault shares will be illustrated in the following demonstration. Note that I have $1.20 USDC and am about to deposit it into the DINO vault using the Zap function. After depositing my $1.20 USDC will start generating Yield Farming earnings in the vault and I will receive xDINO vault shares tokens representing my deposit.
Please don't send these deposit tickets to other addresses as they are required to withdraw funds from the vault.
After making the $1.20 USDC deposit you can notice that I have received 8.75 xDINO tokens which are my Deposit Ticket. This deposit ticket represents 9.19 DINO tokens generating earnings in the vault.
I received 8.75 xDINO vault shares because their Price Per Full Share is 1.049421 DINO. The DINO vault uses the autocompound strategy, which sells 99% of Yield Farming earnings and deposits them in the vault. After this process of farming and autocompound, the vault's PPFS increases relative to the underlying asset.
Let's say that after some time the vault accumulates Yield farming earnings and the PPFS is now 1.8765432 and I decide to add another 100 DINO tokens to my position, upon depositing 100 DINO I will receive 53.28947396 xDINO (100/1.8765432) and my position current will now be 62.03976932 xDINO which worth 116.42 DINO.
Now a new example, I still have the same amount of 62.03976932 xDINO, but after a good result from Yield Farming, the PPFS is now 3.123456 which worth 193.77 DINO. I decide to withdraw 93.77 DINO to realize profits and leave 100 DINO Yield Farming in the vault, after the withdrawal I will have 32.01581838 xDINO vault shares which worth 100 DINO.
- Tetu team
- AAVE team
- Polygon DAO
- Polygon Team
An about xTETU, dxTETU and Vault Shares.
Zap solution converts a token to another using a defined route and can be used to deposit or withdraw from a vault.
Through the Zapping Function users can enjoy the efficiency of participating in a yield farming vault with just one transaction, in general with zapping users can perform only one transaction to enter and exit a yield farming vault. Without using zapping the user would have to perform between 6 ~ 8 transactions to deposit to a yield farming vault.
Withdraw and converting to the token is also possible.
The zapping function can cause slippage, when using it it is better to prioritize small amounts of deposits and withdrawals.
This solution included three contracts
PriceCalculator
MultiSwap
ZapContract
In this solution Price Calculator will find the best liquidity pool across predefined Swap Platforms.
getLargestPool(address token, address[] memory usedLps)
For calculation price for any LiquidityPool pair using
getPriceFromLp(address lpAddress, address token)
This contract has two purposes:
Find the best route for swap two tokens. The result will contain swap pairs.
findLpsForSwaps(address _tokenIn, address _tokenOut)
The function should be called as a view from UI before the swap
Multi-swap will execute swaps for a given route. Used inside ZapContract but also can be used as a dedicated solution.
multiSwap(address[] memory lps, address tokenIn, address tokenOut, uint256 amount, uint256 slippageTolerance)
This contract implements all required steps for deposit/withdraw to the vault.
Zap Feature article on Medium.
The Strategy Splitter is an effective feature of Tetu's vaults.
The Strategy Splitter is a feature that works as a vault extension. The Strategy Splitter enables the vault to maximize yield farming gains through optimal asset allocation.
The Strategy Splitter analyzes the statistics of earnings results provided by the vault strategies allowing the calculation of ideal ratios based on the data provided by the statistics, in this way the Strategy Splitter maximizes the profits of the vaults.
Strategy Splitter rebalances occur approximately once a day, the allocation of assets in the strategies is carried out automatically according to the profitability of each strategy.
The strategies used by the Strategy Splitter and the % of assets exposed to each strategy is displayed below the asset name. Note that the Strategy Splitter performs the most appropriate allocation in the strategies used by each vault, in some vaults it exposes more assets in a strategy than others.
If a strategy is exploited or becomes compromised, other strategies in the vault will not lose money, in case of emergency, rebalances will be manually stopped.
The process of withdrawing funds from the strategy works normally like any other vault, but there is one exception that is when the user has an amount greater than the optimal withdrawal amount. The withdrawal transaction may fail due to gas issues.
When this occurs the user will see a special UI that looks a bit like this:
In this scenario, to remove the assets from the vault, the user will need to:
perform the “Request” transaction
after that perform the “Process” transaction
After confirming the “Process” the user’s assets will be available in the Strategy Splitter and the user will see the standard UI and be able to withdraw the assets without problems.
HardWork is a smart contract function that compounds the yield generated by Tetu strategies. When HardWork is called, a portion of the rewards are distributed back into the underlying yield farm, and the remaining rewards are then allocated by the Profit Destination ratio.
HardWorks can be tracked in real-time on the hard-works room on discord. Marked in blue are two examples from HardWorks, one where 1414 TETU was bought back from the DAI vault of the AAVE folding strategy, and the other where 15091 TETU was bought back from the KLIMA vault.
The total result of HardWorks since the creation of Tetu can be seen on the stats page under "Strategies earned TETU" below is displayed the amount in TETU of the platform's production in the last 24 hours and the % of how much the production in the last 24 hours represents in relation to the total already earned.
When users join farming pools, they immediately start earning rewards. It will take 28 days to be eligible to claim 100% rewards. It is possible to immediately claim 70% of the rewards entitled to receive from the 1st day, but the rest will be redistributed to all participants in the underlying vault. Rewards entitled for claiming will be increasing each day on the vault proportionately up to the 28th day.
After 14 days, users will be eligible to claim 85% of the total rewards. (70% base + 15% referring to the first 14 days of participation in the vault, the remaining 15% will be achieved linearly until the 28th day, thus completing 100% rewards).
Users who claim earlier than 100% will have their remaining rewards left to be redistributed to the vault, let’s say user claim rewards with 75% from total, the remaining 25% rewards will be redistributed to every other participant on the underlying vault. This redistribution will increase future rewards for everyone who remains in the vault.
Once claimed, no matter in what ratio, the reward bar will be reset to 70% again boosting to 100% in 28 days. Users are able to deposit and withdraw from the vault without any effects on the rewards bar, only claim actions reset the bar.
The image below shows the status of rewards after 28 days of participation in the vault, note that the user can already claim 100% of rewards as shown in both corners of the rewards bar and that there is no longer a period to wait for claim 100 % as shown in “Days left 0” inside the rewards bar. User reached 100% of rewards on August 26th.
In this situation, the participant of this vault that is already maximized is also receiving TETU redistributed to this vault from other users who claimed the TETU before the 28 days necessary to receive all rewards.
The image below shows the situation in which the user is receiving rewards still in the maturation period. TETU rewards can be claimed at any time, however, the earlier TETU is claimed during the maturation period, the lower the TETU rewards ratio received compared to the end of the 28-day period in which the user has 100% rewards and the higher will be the amount of personal TETU left to be redistributed to all pool participants. 70% rewards ratio is the minimum the user can receive, even if the user claims rewards and the bar is reset it will always start from 70%.
Reward Boosting System article on Medium.