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Analytics

yieldbasis.com/analytics shows market, gauge, revenue, and lock data for liquidity providers and veYB holders. For each panel, the sections below give the contract value behind it, when one exists, and the common misreadings.

Labels can change

Labels on this page match the app at the last documentation check. If a label differs, the contract getters on this page stay authoritative.

The dashboard has four tabs: MARKETS, GAUGES, VEYB REVENUE, and LOCKS. Each market also has a detail page.

Tab: MARKETS​

Market totals​

The top of the tab shows five totals, all in USD:

LabelWhat it shows
TVLTotal value locked across all markets
Collected admin feesAdmin fees collected so far
Volume 24hTrading volume of the last 24 hours
Total volumeTrading volume since launch
Pending admin feesAdmin fees that are not yet collected

Admin fees are the part of the value gains of LT, the market's vault contract, that goes to the FeeSplitter. The FeeSplitter sends a DAO-set share of them to the net-pressure reserve and the rest to veYB holders. The staking ratio, the fraction of a market's yb-LP shares that is staked in the gauge, sets the admin-fee share. A staked side has a watermark, the level that its value must regain after losses. While the staked side is below its watermark, LT charges no admin fee until gains close the gap. For the admin-fee curve and the full fee flow, read Fees and veYB revenue.

Markets table​

The markets table has one row per market. FT APY and Token APR are the app's names for the two rates that the docs call Fundamental yield and Emissions APR. The YIELDS charts label the same two rates TRADING APY and TOKEN APR.

ColumnMeaning
MarketAsset symbol. A Deprecated badge marks a legacy market.
FT APYFundamental yield: the growth of Fundamental Value, the price per share (PPS), from trading fees, without emissions, as a net annual percentage yield (APY) after borrow interest and rebalancing cost. Only unstaked yb-LP earns it.
Token APREmissions APR: the gauge's YB emissions to staked yb-LP, valued in USD, as an annual percentage rate (APR, not compounded).
TVLMarket value in USD and in asset units
Volume 24hTrading volume of the market in the last 24 hours
CompositionBalances of the Curve Cryptoswap pool (crvUSD and the asset). It shows the pool state, not the LT state.
TRDTemporary Redemption Discount: the signed gap between Redemption Value (preview_withdraw) and Fundamental Value (pricePerShare()), computed as preview_withdraw(10**18) * 10**(18 - asset_decimals) / pricePerShare() − 1. Negative during a discount (for example, −1.5%), positive in the rare premium case.

A position earns one of the two rates, not both. Never add FT APY and Token APR for one position.

The YieldBasis DAO (YB DAO) disabled the deprecated markets 3 to 6 for new crvUSD allocation. Use a deprecated market only to withdraw or to migrate.

Take a position with a Fundamental Value of 1 cbBTC at a BTC price of $100,000. At a TRD of −1.5%, a withdrawal now returns about 0.985 cbBTC, or $98,500. Arbitrage closes TRD over a time that varies. For when to wait and when to withdraw, read Fundamental Value, Redemption Value, and TRD.

This screenshot shows the markets table with its FT APY, Token APR, TVL, Composition, and TRD columns:

Markets table showing FT APY, Token APR, TVL, Composition, and TRD columns

PRICES charts, PLAIN​

The PLAIN charts show two lines for an unstaked share:

  • FUNDAMENTAL PPS: the Fundamental Value of an unstaked share, the value of one share on the vault's books. It tracks the value growth that fees add to the market's 2× leveraged Curve LP position.
  • REDEMPTION PPS: the Redemption Value of a share, the amount that preview_withdraw returns per share at each point in time.

The gap between these two lines is TRD.

PRICES charts, STAKED + EMISSIONS​

The STAKED + EMISSIONS charts show two lines for a staked share:

  • FUNDAMENTAL PPS: the value of a staked share, which follows the watermark and not the unstaked PPS, plus accrued YB emissions in USD.
  • REDEMPTION PPS: the withdrawal value of a staked share, plus accrued emissions.

A gap between these two lines is TRD. A watermark shortfall (staked < ideal_staked) is a separate effect. The PLAIN PPS VS WATERMARK PPS chart on the market detail page shows it. For how the staked side recovers, read Watermark and recovery.

Staked lines include emissions

Do not read the staked line as Fundamental Value growth. Staked positions do not earn the Fundamental Value growth of unstaked yb-LP, so a staker's return is emissions only. To compare with an unstaked position, compare your emissions with the unstaked Fundamental Value growth, and do not add the two.

YIELDS charts​

The YIELDS charts show these rates:

  • TRADING APY: Fundamental yield over a selectable window. The default window is ALL-TIME. The 0% line shows periods of underperformance.
  • TOKEN APR: Emissions APR of the gauge.

An annualized short or volatile window can mislead. One week of high fees, scaled to a year, gives a rate that the position is unlikely to earn. An ALL-TIME figure hides recent changes, so compare more than one window.

VOLUME & FEES charts​

The VOLUME & FEES charts show admin fees and volume:

  • TOTAL COLLECTED ADMIN FEES (USD): cumulative admin fees of all markets.
  • COLLECTED ADMIN FEES BY MARKET (USD): admin fees per market. Use it to see which markets give the most revenue.
  • TOTAL VOLUME (SWAP + AMM): swap volume, and the rebalance volume of LEVAMM, the market's leveraged automated market maker (AMM).
  • AMM REBALANCE VOLUME BY MARKET (USD) and SWAP FEES BY MARKET (USD): the same data per market.

The TRANSACTIONS table lists recent SWAPS, REBALANCES, AMM FEES, and DEPOSITS.

Tab: GAUGES​

Gauge totals​

The top of the tab shows six totals:

LabelWhat it shows
Total veYB votesThe veYB supply: all veYB voting power
Total gauge votesveYB weight that holders gave to gauges (at most the total veYB)
veYB Vote Utilizationtotal gauge votes / total veYB: the fraction of veYB that votes
Total YB EmissionsYB emitted to gauges since launch
Daily YB EmissionsYB emission for 24 hours at the current schedule
Votes per YB/dayveYB needed to direct 1 YB per day to a gauge

Use Votes per YB/day to plan a gauge vote.

Gauge weights​

The gauge weight of a market is its vote weight times sqrt(staked / total). Here, staked / total is the staking ratio: the fraction of the market's yb-LP shares in the gauge. For how gauge weight sets emissions, read Gauges and emissions.

Gauge charts​

The tab has these time series:

  • STAKED %
  • INCENTIVES WEIGHT
  • VOTES
  • VOTE WEIGHT %
  • YB EMISSIONS BY GAUGE
  • VEYB UTILIZATION
  • VOTES PER YB/DAY
  • VOTES (total veYB votes and total gauge votes)

Tab: VEYB REVENUE​

Revenue totals​

The top of the tab shows seven totals:

LabelWhat it shows
veYB APRAnnualized return from the current epoch distribution
$/veYB/yearUSD per veYB per year
Total distributedUSD distributed to veYB holders since launch
Current epochUSD distributed in the current epoch
Total veYBveYB supply
Locked YBYB locked in the VotingEscrow
Pending admin feesAdmin fees that are not yet collected

The docs call this income veYB fee revenue: a share of admin fees, paid in yb-LP tokens every Thursday 00:00 UTC. veYB APR annualizes one epoch, so it moves with every distribution.

The app states: "Fees claimed during a given epoch are distributed evenly across the subsequent four epochs." The FeeDistributor constant OVER_WEEKS = 4 sets this spread, so the current-epoch numbers include parts of the four earlier claims.

Charts​

The VEYB REVENUE tab has these charts:

  • VEYB APR: the veYB APR over time.
  • FEE DISTRIBUTION BY TOKEN (USD): stacked bars, value per token per epoch.
  • FEE DISTRIBUTION BY TOKEN (AMOUNTS): the same data in token units.

Epochs table​

The epochs table has these columns:

  • Epoch: * marks the current epoch, and ** an ended epoch.
  • Epoch start, veYB supply, and YB price (USD).
  • Distribution (USD), $/veYB/year (annualized), and VeYB APR (annualized return).

The app also states: "Estimates for future epochs are based on currently distributed fees, veYB supply, and the YB price, and do not constitute predictions of future distributions."

Fee claims​

The FEE CLAIMS table lists past claims. The CLAIM FEES button calls LT.withdraw_admin_fees on each market with pending fees, and then FeeDistributor.fill_epochs. Any address can call these functions. The gas cost grows with the number of markets that have pending fees.

Tab: LOCKS​

Lock totals​

The top of the tab shows these totals:

LabelWhat it shows
veYB APR, Total veYB, Locked YBSame as on the VEYB REVENUE tab
HoldersNumber of lock positions
Permalocked YBYB in permalocks, the locks whose voting power does not decay. For the lock rules, read veYB.
% of eligible lockedFraction of the YB that can be locked and is locked
% of eligible permalockedFraction of the YB that can be locked and is permalocked

Charts​

The LOCKS tab has these charts:

  • % OF ELIGIBLE LOCKED: two lines, % of eligible locked and % of eligible permalocked.
  • YB LOCKED: the same two series as YB amounts (YB locked and YB permalocked).
  • LOCK TIME DISTRIBUTION: histogram of lock end dates.

HOLDERS table​

The table ranks holders by veYB share, with the columns Rank, Address, YB locked, Share of veYB, and Lock end. A permalock shows Permalock. Rows per page can be 10 (the default), 25, 50, or 100.

Market detail page​

Click a market to open /analytics/market/<LT address>.

Market metrics​

The page shows TVL, Collected admin fees, Volume 24h, Total volume, and Capacity used. METRICS shows Fundamental yield and Emissions APR over several windows. ACTIVITY shows swap volume, LEVAMM volume, and swap fees.

CONVERSION RATES​

This section shows three values for one share:

  • Fundamental PPS: pricePerShare() on the LT.
  • Redemption PPS: the withdrawal value of one share, from preview_withdraw.
  • Market TRD: redemption / fundamental − 1. The value is negative during a discount.

Charts​

The market detail page has these charts:

  • PLAIN PPS VS WATERMARK PPS: the Fundamental Value of an unstaked share and the watermark PPS (ideal_staked / staked_tokens) on the left axis. The right axis shows the asset price in USD.
  • PRICE PER SHARE (PLAIN): the Fundamental Value and the Redemption Value of an unstaked share.
  • PRICE PER SHARE (STAKED + EMISSIONS): the same for a staked share.
  • TRADING APY and TOKEN APR: as on the MARKETS tab, for this market.
  • VOLUME (SWAP + AMM) and SWAP FEES (USD): volume and swap fees of this market.
  • ADMIN FEES: admin fees of this market, in USD or in token units.

POOL STATE charts​

These charts show the state of the Curve Cryptoswap pool:

  • POOL BALANCES: the pool composition.
  • REBALANCE RESERVE: two lines, virtual_price and lp_xcp_profit.
    • virtual_price is the value of one LP token. It grows with fees. It can drop when price_scale, the pool's internal price, moves, but a move must keep it above lp_xcp_profit, the profit floor.
    • lp_xcp_profit is the LPs' profit floor. reserved_profit_fraction() on the pool (1e10 is 100%) sets how much profit goes to the floor.
    • The gap between the two lines is the rebalance reserve, which the docs call the rebalance budget: the profit that the pool can spend to move price_scale.
  • PRICE ORACLE VS PRICE SCALE: price_oracle, an exponential moving average of recent trade prices, and price_scale, where the pool concentrates liquidity. price_scale moves toward a target that price_oracle or a pool policy sets. For what each policy sets, read Pool policies.
  • DONATION SHARES VS AVAILABLE SHARES: donations of borrower interest (refueling) unlock linearly over the donation window of the pool (donation_duration()). donation_shares shows the locked part, and available_shares the unlocked part.

VAULT PARAMETERS​

This section shows two pool values:

  • Dynamic Fee: the swap fee of the pool. To read it, call fee() on the pool. On a pool that runs YBOraclizedPolicy, fee() returns the fallback fee of the policy. The fallback fee is the policy's fee when no discount applies, and its highest fee.
  • Rebalance Reserve: the rebalance budget, the reserve that the pool uses to pay for price_scale moves. For how borrower interest refills it, read Refueling in Fees and veYB revenue.

The ADVANCED DETAILS section lists the contract addresses of the market.