• bitcoinBitcoin (BTC) $ 97,470.00
  • ethereumEthereum (ETH) $ 2,739.22
  • xrpXRP (XRP) $ 2.73
  • tetherTether (USDT) $ 1.00
  • solanaSolana (SOL) $ 202.42
  • bnbBNB (BNB) $ 669.95
  • usd-coinUSDC (USDC) $ 0.999898
  • dogecoinDogecoin (DOGE) $ 0.275734
  • cardanoCardano (ADA) $ 0.806903
  • staked-etherLido Staked Ether (STETH) $ 2,737.96
  • tronTRON (TRX) $ 0.233267
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 97,314.00
  • chainlinkChainlink (LINK) $ 19.47
  • suiSui (SUI) $ 3.65
  • avalanche-2Avalanche (AVAX) $ 26.73
  • wrapped-stethWrapped stETH (WSTETH) $ 3,268.98
  • stellarStellar (XLM) $ 0.350492
  • shiba-inuShiba Inu (SHIB) $ 0.000017
  • hedera-hashgraphHedera (HBAR) $ 0.233349
  • litecoinLitecoin (LTC) $ 127.38
  • the-open-networkToncoin (TON) $ 3.85
  • hyperliquidHyperliquid (HYPE) $ 28.01
  • leo-tokenLEO Token (LEO) $ 9.85
  • usdsUSDS (USDS) $ 1.00
  • wethWETH (WETH) $ 2,739.00
  • polkadotPolkadot (DOT) $ 5.22
  • bitcoin-cashBitcoin Cash (BCH) $ 344.68
  • bitget-tokenBitget Token (BGB) $ 5.54
  • uniswapUniswap (UNI) $ 10.14
  • ethena-usdeEthena USDe (USDE) $ 0.999832
  • wrapped-eethWrapped eETH (WEETH) $ 2,901.37
  • mantra-daoMANTRA (OM) $ 5.47
  • official-trumpOfficial Trump (TRUMP) $ 22.57
  • pepePepe (PEPE) $ 0.000010
  • moneroMonero (XMR) $ 230.59
  • ondo-financeOndo (ONDO) $ 1.34
  • nearNEAR Protocol (NEAR) $ 3.51
  • aaveAave (AAVE) $ 264.31
  • whitebitWhiteBIT Coin (WBT) $ 27.14
  • aptosAptos (APT) $ 6.14
  • internet-computerInternet Computer (ICP) $ 7.28
  • mantleMantle (MNT) $ 1.04
  • daiDai (DAI) $ 1.00
  • bittensorBittensor (TAO) $ 397.04
  • susdssUSDS (SUSDS) $ 1.04
  • ethereum-classicEthereum Classic (ETC) $ 21.54
  • okbOKB (OKB) $ 52.10
  • gatechain-tokenGate (GT) $ 23.47
  • vechainVeChain (VET) $ 0.035692
  • kaspaKaspa (KAS) $ 0.108256
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.322580
  • jupiter-exchange-solanaJupiter (JUP) $ 0.974339
  • algorandAlgorand (ALGO) $ 0.301051
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 97,509.00
  • crypto-com-chainCronos (CRO) $ 0.091558
  • render-tokenRender (RENDER) $ 4.74
  • tokenize-xchangeTokenize Xchange (TKX) $ 29.85
  • filecoinFilecoin (FIL) $ 3.53
  • arbitrumArbitrum (ARB) $ 0.502519
  • cosmosCosmos Hub (ATOM) $ 4.99
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.819166
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.999968
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 97,619.00
  • sonic-3Sonic (prev. FTM) (S) $ 0.548900
  • celestiaCelestia (TIA) $ 3.24
  • fasttokenFasttoken (FTN) $ 3.94
  • lido-daoLido DAO (LDO) $ 1.87
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,737.32
  • binance-staked-solBinance Staked SOL (BNSOL) $ 209.10
  • optimismOptimism (OP) $ 1.18
  • raydiumRaydium (RAY) $ 5.44
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,843.49
  • ethenaEthena (ENA) $ 0.487794
  • xdce-crowd-saleXDC Network (XDC) $ 0.097945
  • blockstackStacks (STX) $ 0.999829
  • injective-protocolInjective (INJ) $ 15.47
  • kucoin-sharesKuCoin (KCS) $ 12.17
  • bonkBonk (BONK) $ 0.000019
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 97,152.00
  • theta-tokenTheta Network (THETA) $ 1.44
  • immutable-xImmutable (IMX) $ 0.824731
  • movementMovement (MOVE) $ 0.591085
  • nexoNEXO (NEXO) $ 1.39
  • the-graphThe Graph (GRT) $ 0.144112
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,070.07
  • quant-networkQuant (QNT) $ 93.83
  • worldcoin-wldWorldcoin (WLD) $ 1.29
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,893.26
  • flare-networksFlare (FLR) $ 0.021384
  • usual-usdUsual USD (USD0) $ 0.997288
  • jasmycoinJasmyCoin (JASMY) $ 0.023065
  • sei-networkSei (SEI) $ 0.245703
  • galaGALA (GALA) $ 0.024540
  • dexeDeXe (DEXE) $ 18.18
  • solv-protocol-solvbtc-bbnSolv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 96,268.00
  • msolMarinade Staked SOL (MSOL) $ 256.49
  • eosEOS (EOS) $ 0.662980
  • the-sandboxThe Sandbox (SAND) $ 0.408069
  • jito-governance-tokenJito (JTO) $ 3.36
  • flokiFLOKI (FLOKI) $ 0.000102
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.46
  • tezosTezos (XTZ) $ 0.906538
  • ethereum-name-serviceEthereum Name Service (ENS) $ 27.38
  • iotaIOTA (IOTA) $ 0.246268
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,838.82
  • bittorrentBitTorrent (BTT) $ 0.00000088
  • makerMaker (MKR) $ 1,015.68
  • flowFlow (FLOW) $ 0.534115
  • ultimaUltima (ULTIMA) $ 19,251.14
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 219.88
  • wbnbWrapped BNB (WBNB) $ 669.12
  • neoNEO (NEO) $ 11.54
  • bitcoin-svBitcoin SV (BSV) $ 40.46
  • spx6900SPX6900 (SPX) $ 0.844205
  • kaiaKaia (KAIA) $ 0.134289
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 97,224.00
  • roninRonin (RON) $ 1.26
  • pyth-networkPyth Network (PYTH) $ 0.213849
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.55
  • usddUSDD (USDD) $ 1.00
  • chain-2Onyxcoin (XCN) $ 0.022600
  • dogwifcoindogwifhat (WIF) $ 0.735964
  • axie-infinityAxie Infinity (AXS) $ 4.56
  • telcoinTelcoin (TEL) $ 0.009247
  • tether-goldTether Gold (XAUT) $ 2,895.86
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.275294
  • heliumHelium (HNT) $ 3.97
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.011117
  • curve-dao-tokenCurve DAO (CRV) $ 0.540240
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,893.82
  • elrond-erd-2MultiversX (EGLD) $ 23.67
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,737.38
  • aerodrome-financeAerodrome Finance (AERO) $ 0.846566
  • decentralandDecentraland (MANA) $ 0.341219
  • berachain-beraBerachain (BERA) $ 5.93
  • fraxFrax (FRAX) $ 0.996388
  • usdx-money-usdxusdx.money USDX (USDX) $ 0.999655
  • paypal-usdPayPal USD (PYUSD) $ 0.999792
  • arweaveArweave (AR) $ 9.46
  • starknetStarknet (STRK) $ 0.239279
  • beam-2Beam (BEAM) $ 0.011469
  • pax-goldPAX Gold (PAXG) $ 2,915.89
  • chilizChiliz (CHZ) $ 0.063462
  • dydx-chaindYdX (DYDX) $ 0.815521
  • pendlePendle (PENDLE) $ 3.61
  • conflux-tokenConflux (CFX) $ 0.120449
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,734.44
  • matic-networkPolygon (MATIC) $ 0.322282
  • resolv-usrResolv USR (USR) $ 1.00
  • pumpbtcpumpBTC (PUMPBTC) $ 94,733.00
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,740.78
  • meowMEOW (MEOW) $ 0.006329
  • coredaoorgCore (CORE) $ 0.569780
  • fartcoinFartcoin (FARTCOIN) $ 0.556630
  • ai16zai16z (AI16Z) $ 0.502716
  • apecoinApeCoin (APE) $ 0.760160
  • insurance-2INSURANCE (INSURANCE) $ 29.22
  • ecasheCash (XEC) $ 0.000027
  • wormholeWormhole (W) $ 0.186578
  • zcashZcash (ZEC) $ 33.42
  • kavaKava (KAVA) $ 0.486378
  • beldexBeldex (BDX) $ 0.075141
  • compound-governance-tokenCompound (COMP) $ 57.70
  • aioz-networkAIOZ Network (AIOZ) $ 0.445428
  • thorchainTHORChain (RUNE) $ 1.42
  • morphoMorpho (MORPHO) $ 2.23
  • true-usdTrueUSD (TUSD) $ 0.998457
  • reserve-rights-tokenReserve Rights (RSR) $ 0.008946
  • amp-tokenAmp (AMP) $ 0.005851
  • newton-projectAB DAO (AB) $ 0.011061
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 97,325.00
  • clbtcclBTC (CLBTC) $ 97,411.00
  • story-2Story (IP) $ 1.94
  • akash-networkAkash Network (AKT) $ 1.91
  • based-brettBrett (BRETT) $ 0.047342
  • gnosisGnosis (GNO) $ 177.64
  • tbtctBTC (TBTC) $ 97,299.00
  • chex-tokenCHEX Token (CHEX) $ 0.451459
  • axelarAxelar (AXL) $ 0.484420
  • mina-protocolMina Protocol (MINA) $ 0.364209
  • quantixaiQuantixAI (QAI) $ 85.11
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000080
  • stakestone-berachain-vault-tokenStakeStone Berachain Vault Token (BERASTONE) $ 2,720.33
  • apenftAPENFT (NFT) $ 0.00000044
  • eigenlayerEigenlayer (EIGEN) $ 1.76
  • deepDeepBook (DEEP) $ 0.170114
  • olympusOlympus (OHM) $ 25.79
  • grassGrass (GRASS) $ 1.72
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 1.00
  • zksyncZKsync (ZK) $ 0.112167
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 2,983.79
  • super-oethSuper OETH (SUPEROETHB) $ 2,739.97
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • usdbUSDB (USDB) $ 0.996920
  • hashnote-usycHashnote USYC (USYC) $ 1.08
  • verus-coinVerus (VRSC) $ 5.07
  • polygon-pos-bridged-weth-polygon-posPolygon PoS Bridged WETH (Polygon POS) (WETH) $ 2,739.72
  • trust-wallet-tokenTrust Wallet (TWT) $ 0.948071
  • 1inch1inch (1INCH) $ 0.275134
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.08

5 New Sommelier Vaults Now Capturing Governance Token Yield

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5 New Sommelier Vaults Now Capturing Governance Token Yield

Sommelier has introduced five new vaults that offer holders of governance tokens an opportunity to earn passive yield ranging from 2% to 4%. Supported tokens include 1inch, ENS, LINK, SNX and UNI.

The strategy itself was designed by data research firms Seven Seas Capital and Define Logic Labs, the team behind Real Yield ETH.

Existing governance tokens in DeFi offer minimal yield opportunities. Lending these tokens out on Aave, for example, will earn holders sub 1% yield. Sommelier’s new vaults are designed to fill that void, Zaki Manian, the company’s co-founder told Blockworks.

These latest vaults are designed to capture the huge arbitrage opportunity in the ETH market, Manian explained.

“There’s a massive amount of ETH sitting idly loaned out on protocols like Aave, and the borrow cost of ETH is around 4%. Meanwhile, yield opportunities on ETH are significantly higher. At a high-level, these gov token vaults capture that arbitrage and convert it into UNI, LINK, ENS, etc. yield,” he said.

Users participate in these new vaults by leveraging their governance tokens to borrow ETH. They then deposit the borrowed ETH in Sommelier’s Real Yield ETH vault, where the assets generate yield through looped leverage and the optimization of tick range liquidity on Uni V3.

“Looped leverage does come with liquidation risk, but the Real Yield ETH vault is equipped to mitigate that risk by constantly monitoring market conditions and adjusting leverage ratios as needed,” he said.

Another important feature that these new vaults offer will be “gas holidays.”

The vault will be holding a simple position when rewards are being harvested, which means that the vault will periodically move into one associated governance token — lowering any gas costs.

“The first window is the first 48 hours after launch, and then depositors will be notified when there are subsequent gas holidays. As with all Sommelier vaults, they’re non-custodial, so you can enter and exit at any time, but this helps people depositing smaller amounts who are more sensitive to high gas fees,” Manian said.

The first 40 addresses to deposit over $1,000 in liquidity in each vault will each be given an additional $25 in rewards. US-based traders will not have access to Sommelier vaults.

Source

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