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3X ๐Ÿ’น
A stablecoin yield optimizer with exposure to EUR & USD
โ€‹3X is a yield optimizer that offers an alternative way to take advantage of Popcorn's simplified yield optimization strategies with simultaneous exposure to the Euro and the Dollar. The current composition offers exposure to DAI, USDC, USDT, sUSD, agEUR, EURT, and EURS.
Audited: โœ… by Zokyo. Medium Post: 3X - Diversify Yield, Create Impactโ€‹

Stablecoin Statistics

a/o 10/08/2022

3X Statistics

  • Composition -50% yvCurve-sUSDpool -50% yvCurve-3EURpool
  • Has Exposure to: DAI, USDC, USDT, sUSD, agEUR, EURT, EURS
  • Weighting: Neutral construction, equal weight
  • Rebalancing: Dependent on weight redistribution
  • Deposits: USDC, USDT, or DAI
  • Withdrawals: USDC, USDT, or DAI
  • APY: Variable
  • Mint fee: 0.75% (75 bps)
  • Redemption fee: 0.75% (75 bps)
  • Streaming fee: 0.5%
Benefits:
  • Typically one would need to make 6 or more transactions to enter into a similar position; this number is greatly reduced and the process is simplified with 3X.
  • Holders of 3X donโ€™t need to chase yield since the underlying yield farming strategies can be adjusted by PopcornDAO according to changing market conditions in a risk-adjusted and yield-conscious manner.

Methodology

See Butter methodology.

Underlying Protocols

Butter has been designed with safety, security, and interoperability in mind. The batch minting and redemption contracts have been audited by Zokyo. Underlying protocols used by Butter include Set Protocol for managing the underlying basket of tokens, Curveโ€™s AMM and gauge system which is the source of the yield, and Yearn which functions to automate yield accrual.
3X also has exposure to the protocols underlying the associated stablecoins โ€” this currently includes DAI, USDC, USDT, sUSD, agEUR, EURT, and EURS. Even though the underlying protocols are battle-tested and meet the industry standard for security, interacting with any smart contract comes with risk, even if it has been audited. Use at your own risk.
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Outline
Stablecoin Statistics
3X Statistics
Methodology
Underlying Protocols