yHONEY
yHONEY is a 4626 Yearn multi-strategy vault that takes HONEY as the deposit asset and allocates the funds among yield bearing strategies throughout Berachain.
Under the hood yHONEY operates mostly like a classic Yearn vault. But it is unique in that, unlike a normal vault, yHONEY will always maintain a 1:1 price ratio to HONEY, with yield distributed separately. The way the user receives their yield is dependant on how they use yHONEY.
Users currently have two options in how to use yHONEY
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Stake your yHONEY token in the st-yHONEY vault and you will earn your deposit's share of the yield earned by the vault. This yield comes in as if it were any other traditional vault product.
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Use it in any of the Bearn LP pools that utilize yHONEY, such as yBGT/yHONEY. When deposited into an LP pool, the yield generated is used to directly incentivize or bribe for BGT emissions. This will boost the liquidity and yields paid to LP's.
By using the yield generated by yHONEY to bribe and incentivize the liquidity pools, users are supercharging the yield they would have otherwise earned and Bearn is able able to create a sustainable and continuous source of bribe incentives that scale with the pools its used in. Because it trades at 1:1 to HONEY and is liquid, it means it can operate to end users just as HONEY would.
🧑🌾 Getting yHONEY
Deposit HONEY on Bearn.sucks to mint yHONEY at a 1:1 ratio
Redeem at any time to get back HONEY 1:1.