Displayed senior APY: 13.52% vs. 13.83% underlying.
68% more buffer than at target. Same yield-share terms.
royco.org/market/1/0xcfbdea0…
What if you'd deposited $10,000 in a Royco Senior on day one?
- apyUSD (@apyx_fi), 178 days ago: $11,779
- savUSD (@AvantProtocol), 218 days ago: $10,443
- eEARN (@EmberProtocol), 169 days ago: $10,358
- TR Basis Trade (@PikuFinance), 88 days ago: $10,305
And over a year? 👇
Over a year at that pace:
- apyUSD: 36.47%
- savUSD: 7.43%
- eEARN: 7.74%
- TR Basis Trade: 12.63%
apyUSD stands out. When it depegged in June, the Junior covered the Senior's dollar loss with extra apyUSD. The peg came back, and that extra rose with it.
See for yourself 👇
The four Seniors, from day one:
- apyUSD: royco.org/market/1/0xcfbdea0…
- savUSD: royco.org/market/43114/0x724…
- eEARN: royco.org/market/1/0x36c1d7c…
- TR Basis Trade: royco.org/market/1/0x48fe2f6…
How much can each market lose before losses reach the Senior tranche?
- apyUSD: 28.3%
- savUSD: 24.0%
- hBTC: 14.8%
- eEARN: 13.2%
- TR Basis Trade: 10.2%
That's the first-loss protection behind each Senior position.
Take the protection or earn for providing it.
@apyx_fi : royco.org/market/1/0xcfbdea0…
@avantprotocol : royco.org/market/43114/0x724…
@Syntetika : royco.org/market/8453/0x586d…
@EmberProtocol : royco.org/market/1/0x36c1d7c…
@PikuFinance : royco.org/market/1/0x48fe2f6…
Five months of the eEARN market on Royco, in one chart.
Median 7-day APY since launch:
- Junior 15.31%
- eEARN 8.87%
- Senior 7.93%
The Junior’s median is about 1.7x what @EmberProtocol 's eEARN earns on its own.
If you want the extra yield, the eEARN Junior is live: royco.org/market/1/0x36c1d7c…
If you want first-loss cover, the eEARN Senior is live: royco.org/market/1/0x36c1d7c…
Some of the best yields onchain are locked.
Take reUSDe, which only allows quarterly redemptions.
A Day market can make it liquid, with Seniors paying a liquidity premium while still earning 9.89%, compared to 6.84% on @re 's liquid reUSD.
Read how Royco could unlock this:
The @Syntetika hBTC market is in its Observation Period.
hBTC's NAV updated with a small loss. The Observation Period gives the asset time to recover, so the Junior only absorbs losses if they don’t recover after 30 days.
Watch the video below to see exactly how it works:
See the hBTC market: royco.org/market/8453/0x586d…
Top 3 Royco markets by APY right now.
Senior:
@apyx_fi apyUSD 13.54%
@MoriniCapital TR Basis 10.09%
@EmberProtocol eEARN 8.15%
Junior:
@USDai_Official sUSDai 19.30%
eEARN 15.66%
apyUSD 14.57%
Apyx and Ember put their strategies in the top 3 of both tranches.
The Observation Period protects the Junior. Protected Exit protects the Senior.
With the @Syntetika hBTC market in its Observation Period, here’s how its Protected Exit value works:
See the hBTC market:
royco.org/market/8453/0x586d…
If you can underwrite a yield strategy, its Junior is the place to be.
@EmberProtocol 's eEARN is up 4.96% since Feb 20.
Royco Junior launched 76 days later and is already up 6.57%, without a single drawdown.
This is tranching doing its job.
hBTC's NAV updated today with a small loss.
The Senior stayed whole, and the market entered its observation period to protect Junior capital.
The loss isn't final: if @Syntetika’s hBTC's NAV recovers in the 30 day window, Junior also recovers its full position.
The Senior can still exit through the SLP pool.
