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Provide liquidity

Use this guide to deposit a volatile asset, such as cbBTC or WETH, into a YieldBasis market and receive yb-LP shares. Unstaked, the shares earn trading fees. Staked in a gauge, they earn YB emissions instead.

Before you deposit: costs and Redemption Value

The position pays crvUSD borrow interest and a rebalancing cost. Fundamental Value is the oracle-priced accounting value of one share. A withdrawal can return less than the Fundamental Value of your shares. For each cost, read What you pay in Compounding leverage. For how much a withdrawal returns (its Redemption Value), read Fundamental Value, Redemption Value, and TRD.

Prerequisites​

Check that you have each of these:

  • The volatile asset in your wallet on Ethereum (for example WBTC, cbBTC, tBTC, or WETH).
  • ETH for gas.
  • Free capacity in the market. A deposit reverts if the market is at its cap. The Capacity column on the Earn page shows how much of the cap is in use. A full market shows FILLED.

Steps​

  1. Go to yieldbasis.com.

  2. Open Earn.

    Earn page: the markets list, with Capacity for each market

  3. Select your market.

  4. Select the vault:

    • To receive unstaked yb-LP shares, select Yield Bearing Vault, and then the Deposit tab.
    • To deposit and stake in one step, select Staked Vault, and then Deposit.

  5. Enter the amount to deposit.

    The panel shows the amount of yb-LP that you receive and the conversion rate.

    Deposit tab: send the volatile asset, receive yb-LP shares

  6. If the app asks for a token approval, approve the token. You approve once for each market.

  7. Submit the deposit.

  8. Sign the transaction.

Result​

One transaction mints your shares in one of two forms:

  • Yield Bearing Vault: ERC-20 yb-LP shares in your wallet.
  • Staked Vault: gauge shares in your wallet. The gauge holds the yb-LP.

yb-LP shares have symbols such as yb-cbBTC or yb-WETH. Most wallets do not show them automatically after a deposit. If the balance does not appear, use the "Import token" function of your wallet with the yb-LP contract address listed in Contract addresses.

If the deposit reverts​

Besides a full market (see Prerequisites), these causes can also make a deposit revert:

  • The price moved past your minimum. The app sends a minimum share amount, based on your slippage setting. If the price moves past it, the transaction reverts and you keep your asset.
  • The LT deviation check failed. A pool policy is a contract that a Curve Cryptoswap pool calls on each operation. On a pool that runs the oracle-report policy (YBOraclizedPolicy), which prices each swap against a signed USD price report, a deposit can revert with LT deviation. This check compares the crvUSD debt that a deposit adds with the debt-to-collateral ratio of LEVAMM, the market's leveraged AMM.

After either of these reverts, get a new quote and deposit again.

For what the LT deviation check compares and which operations skip it, read LT deviation check in Pool policies. For how to compute a debt that passes the check, read Compute debt on a pool that runs the oracle-report policy in the developer docs.

  • yb-LP tokens: what the shares you received represent, staked and unstaked.
  • Stake yb-LP: stake these shares to earn YB emissions.
  • Withdraw liquidity: withdraw the position, after you check its Redemption Value.
  • Deposit flow: the onchain sequence behind these app steps.