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FAQ

Organised by symptom. If you're here because something seems wrong, start with the first section.

"Why can I withdraw less than I deposited?"​

Three common causes. Check in this order (they are independent — a single withdrawal can have more than one at once).

  1. Are you hitting TRD? If preview_withdraw(1e18) < pricePerShare(), yes. TRD resolves on its own as arbs align LEVAMM with Cryptoswap. → TRD.
  2. Is your position staked? If yes, check watermark. staked / ideal_staked < 1 means a recovery-mode drawdown. Future admin fees route to the staked side first to restore parity. → Watermark & Recovery.
  3. Has PPS itself grown slowly? If rebalance losses have exceeded accrued fees over your holding period, PPS has grown less than expected (PPS drag). Only recovers if forward fee capture outpaces forward rebalance cost. → Fundamental Value, Redemption Value, and TRD.

"What's the difference between Fundamental Value and Redemption Value?"​

See Fundamental Value, Redemption Value, and TRD. Short: PPS is the vault's fundamental per-share accounting (LT.pricePerShare(), oracle-priced); redemption value is what you actually get on withdraw right now (LT.preview_withdraw(shares), live Cryptoswap state). The gap is TRD.

"I staked. Should I unstake?"​

Depends on why. See Staked vs Unstaked Economics. Key question: do you trust YB emissions to compensate for watermark drawdown risk?

"When does TRD clear?"​

Typically hours depending on volume and arb activity. High-volume regimes close it within hours; quieter markets can take longer. Arbitrageurs close it by trading. → TRD.

"Does YB have a cap?"​

Yes — hard cap at 1,000,000,000 YB total supply. Emissions follow an exponential-decay schedule from a reserve set at deploy; total supply asymptotically approaches the cap but never exceeds it. See YB Token and Tokenomics.

"Is there impermanent loss?"​

Unstaked yb-LP has no IL by construction: the 2× leverage adds convexity that cancels the concave p\sqrt{p} shape of the LP value curve, so the leveraged net payoff is linear in price. See Compounding Leverage. The underlying Cryptoswap pool still has IL internally — you do not experience it because your claim is on the wrapped leveraged position.

Staked yb-LP can experience watermark drawdown, which is distinct from IL. Drawdown happens when rebalance losses temporarily exceed fees; the staked side recovers via admin-fee routing. It is not curve geometry — it is accounting recovery.

"Why doesn't the staked APY include PPS growth?"​

Because staked positions do not accrue unstaked PPS growth. Their only economic return is YB emissions. Analytics charts labelled "staked + emissions" show the staked side's value plus accrued emissions — do not add unstaked PPS growth on top; that would double-count an income stream the staker does not earn.

"How do I read the analytics page?"​

See Analytics.