1. Who is the interested party for this collateral application?
@freiza - community member on behalf of MakerDAO and YFI
2. Provide a brief high-level overview of the project, with a focus on the applying collateral token.
yUSD (also known as yyCRV) is an ERC-20 token issued by Yearn.finance that represents shares in Yearn’s most popular vault: the yCRV Vault.
yUSD aims to be a ‘better USD’—a smart-asset backed by a basket of stablecoins autonomously working to harvest yield from sources such as Aave, Compound, dydx, and Curve.
3. Provide a brief history of the project.
yEarn was launched in 2020 and initially optimized yield across Compound, dydx, Aave, and Fulcrum. The yCRV vault is the most popular yield strategy and currently has over locked $250 million in stablecoins.
4. Link the whitepaper, documentation portals, and source code for the system(s) that interact with the proposed collateral, and all relevant Ethereum addresses. If the system is complex, schematic(s) are especially appreciated.
vaults.finance source code on github
Current yCRV strategy
5. Link any available audits of the project. Both procedural and smart contract focused audits.
6. Link to any active communities relating to your project.
Community/governance forum: gov.yearn.finance
Voting portal: ygov.finance
7. How is the applying collateral type currently used?
As a long term Stable coin interest account (in the yCRV vault current value ~$250 million)
Within the current yETH strategy which deposits ETH into a Maker vault
As the reward token for the YFI staked in the governance contract.
8. Does one organization bear legal responsibility for the collateral? What jurisdiction does that organization reside in?
yUSD is a decentralized token.
9. Where does exchange for the asset occur?
yUSD is minted by depositing assets into the yCRV vault. yUSD also trades on decentralized exchanges such as Uniswap or Balancer.