From LPing on Curve pool (crvSTETH) to Yearn: Do I add the APR’s or just use the Yearn one?

Here’s what I’m seeing:

1. Staking ETH on Lido gives me stETH with an APR of 5.8%
2. LPing on the Curve stETH pool gives me crvSTETH with an APY of 3.02%
3. Putting crvSTETH into that Yearn vault offers an APY of 5.18%

So, which of those do I add together to figure out my total APY?

My understanding is that I can skip #1 entirely and just put ETH into the Curve stETH pool, right?

But, since it’s half ETH and half stETH, does that mean I divide that 3.02% APY by 2 to 1.51%? Or, has that already happened since the 3.02% is roughly half of the 5.8% of what Lido offers?

Then, to calculate the ultimate APR on my ETH, do I add that 3.02% (or 1.51%) from Curve to the 5.18% from Yearn? Or, is it just the final 5.18% that Yearn promises (in which case I’d be better off just staking at Lido for 5.8%)?

Thanks very much for any clarification you can offer!

What do you think?

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One Comment

  1. When you LP on curve, your APY is 3.02. if you take that crvSteth and put it into the yearn vault, the APY is now 5.18 because yearn will take the yield from the Curve Steth pool and autocompound it into more LP. So when you withdraw from yearn, you will have a higher amount of LP tokens than you deposited.

The beauty of Safemoons timing.

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