some people would rather keep this quiet but yvUSD looping on Flex is still offering frontier APYs fixed rates, infinite term, instant liquidity available liquidity: - ~380k USDC for >23% APY - ~800k USDC for >15% APY 🏜️🏜️🏜️

how Flex maximizes borrower fun and lender protection 1. partial liquidations 2. dynamic liquidation fees 3. atomic bad debt resolution (1) Trove goes above max LTV (eg 90%) --> it can only be liquidated back to the safe LTV (e.g. 80%) (2) liquidation fees scale with how unhealthy a Trove is --> (a) borrowers don't overpay for liquidation services and (b) riskier Troves get cleared first (3) bad debt is socialized atomically --> no bank-run dynamic where faster lenders exit first and leave larger bag for everyone else know your protection

Flex is starting to become attractive to lenders now comparing a similarly-risked vault on Morpho (YearnOG USDC) with the yvUSD market on Flex lenders earn about the same (4% on Flex vs 3.8% on Morpho), but the kicker, Flex lenders can always fully exit, they are not dependent on idle liquidity * note "expected APY" on Flex excludes upfront fees, so it always undershoots. actually "current APY" is accurate

as our beloved crypto tokens shit the bed, yet again, find tranquility in yvUSD looping on Flex even with avg rate creeping above 3%, max looping still earns ~26% liquidity available: - ~380k USDC at avg rate - ~800k USDC at 3.7% borrow (~19% APY at max loop)

Why you should let the @flexmeow design aesthetic into your life 5 minutes of me sliding through this UI like butter

the 60% APY days are over (for now) but the 30% APY days are still here! current yvUSD loop numbers (max loop): - ~$300k USDC available @ 2.3% borrow --> ~30% APY - (for the humbler farmers) ~$640k @ 3.5% borrow --> ~20% farmer's paradise 🧑🏻‍🌾🌾

to those suffering from the rate spikes, your new home awaits pick your fixed borrowing rate get instant liquidity. also remove yourself from the mercy of msigfi check out @flexmeow

@flexmeow preserves the carry, with even zero spread sometimes. Check this out: yvUSD (unlocked) yield is 4.46% right now. A 6x loop at 4% borrow rate is 8.80% APY What's another stable we should make a pool for that is even higher?

on @flexmeow you can adjust your fixed rate once per week, penalty free. So when you open your trove you don't need to feel locked in, you're not.

if you're in 2.5% pivot to 3.5%

the fact that Flex markets can get to 100% utilization has some pretty interesting implications for looping take yvUSD. assume - yvUSD yield = 5% - lenders want 4% - borrower loops 10x Flex (100% util) lenders earn 4% <--> borrowers pay 4% borrower earns 14% TradDeFi (80% util) lenders earn 4% <--> borrowers pay 5% borrower earns 5% same loop but almost 3x yield beyond being more profitable, Flex enables looping strategies that aren’t viable in TradDeFi so, asset issuers with yield-bearing collateral, we’re actively reaching out, but pls don’t wait! reach out and we’ll help you launch a market

So lets look at my @flexmeow results I opened my trove about 7 days ago with - 7787.48 yvUSD of @yearnfi - I used this to borrow 6000 USDC - i then stuck in yvUSD to get me 5927.31 yvUSD extra a ~1.79x "loop" I ran my trove for ~7 days at 0.4% borrowRate (crazy low) The @newmichwill @CurveFinance looping UI wasn't live and i was playing it safe and lazy While i slept, i got redeemed, likely some looper willing to pay more per block. I demantled my zombie trove and recovered 1862.14 yvUSD that was not redeemed leaving me at a balance of 7789.42 yvUSD, -a profit of about ~2 yvUSD (keep in mind that my USDC in that vault grew but i worry about that later) Gas 0.0001ETH($0.20) Open Trove 0.0002ETH($0.50) Deposit borrowed USDC 0.0001ETH($0.09) Kill Zombie 3x Approves = ~$0.03 TBH.. im happy i came out in the green on this. But i would very much rather i was never redeemed. But thats what you get when you go degen

Got fully redeemed on @flexmeow test position and just closed my zombie trove for a marginal profit Supplied 988.09 yvUSD ($1000.73) Borrowed 500 USDC Recovered 494.35 yvUSD ($501.44) => RESULTS: - 493.74 yvUSD ($498.6774) 500 USDC = $ 1.3226 returns - $0.68 of ETH gas spent === $ 0.64266 net return, gas accounted for Full redemption is like the worst case scenario here, and still it turned a marginal profit: 10/10, would recommend to fellow cat lovers, solid meowing experience

200k more USDC liquidity was just deployed when you loop it though, time to notice your rate is high enough to avoid getting redeemed

@flexmeow getting a workout this morning

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