DeFi Lead @EmberProtocol Research - https://xitter.cf/t.co/dq6V63K99n
Joined November 2023
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Schopenhauer spent two volumes proving happiness is impossible. Then he wrote a guide on how to live happily anyway. No one read the first two, but the self-help book was a hit. He also wrote, "The person who writes for fools is always sure of a large audience."
Supplying USDC to the @suilendprotocol Ember Market pays 11.57%, even higher than eEARN!
Joe Wait retweeted
EEARN has surpassed $14M in deposits. Ember’s flagship stablecoin vault has delivered an average APY of 10.02% over the past 90 days.
With Ember Atomic, you can redeem a portion of your EEARN position instantly.
For a limited time, the vault offers 0% management fees and 0% performance fees.
Explore eEARN: ember.so/earn/eEARN
Joe Wait retweeted
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.
Joe Wait retweeted
PPLUS is now live on @pendle_fi, unlocking a new layer of composability for the vault.
Users can now lock in fixed yield, trade future yield, or provide liquidity to earn additional rewards.
More ways to put PPLUS to work across DeFi.
Fixed yield on leveraged RWA credit, now on Pendle.
Introducing PPLUS (Jan 2027 maturity), a RWA vault strategy designed by @Bitwise and run on @EmberProtocol.
Joe Wait retweeted
This is the launch I've been looking forward to the most.
@EmberProtocol Atomic is live, bringing an instant liquidity layer to the platform's time-locked vaults.
I've been using Ember's eEARN vault as collateral on @suilendprotocol to build leveraged loops.
The economics are insane:
> ~10% yield on collateral
> ~4–5% borrowing costs
> Up to 85% LTV
The problem? Entering the loop was easy but unwinding wasn't. Every time you wanted to reduce exposure, you had to wait days for withdrawals to settle.
Now Ember Atomic changes that. There's already around $450K available for instant withdrawals from the vault. And the fees are surprisingly reasonable:
> Standard 3 day redemption: 0.05%
> Instant withdrawal: 0.20%
Just 4x the fee to skip the wait (I expected more).
What's more interesting is that idle liquidity earns yield through liquid strategies, while the Atomic vault itself is tokenized and could eventually be used as collateral.
Imagine using a vault that provides exit liquidity to other vaults as collateral. Pretty wild.
At @roycoprotocol, we're pushing hard on liquidity solutions through SLPs, so I find this approach very interesting.
Introducing Ember Atomic, a shared liquidity layer for tokenized strategies.
Access liquidity from your vault positions without waiting for the underlying assets to complete their redemption process.
Atomic makes a portion of your funds available immediately, with the remaining balance released once settlement is complete.
EEARN is the first vault to support Atomic, with more vaults to follow.
A faster, more flexible way to access your capital.
Explore Ember Atomic: ember.so/earn/ATMC
Joe Wait retweeted
@EmberProtocol's Atomic product is so easy to use:
• Navigate to a Vault with Instant redemptions supported
• Click on the withdrawal form and activate the Instant withdrawal toggle
• Select the amount to withdraw and execute the transaction
• You will get 90% of your capital immediatelly and the remaining 10% when the underlying vault has completed settlement
Simple and powerful.
Atomic settlement has arrived, with eEARN supported from day one.
Instant liquidity makes loop unwinds and liquidations viable, unlocking credit markets.
Step by step @EmberProtocol is vertically integrating the entire financial stack.
Introducing Ember Atomic, a shared liquidity layer for tokenized strategies.
Access liquidity from your vault positions without waiting for the underlying assets to complete their redemption process.
Atomic makes a portion of your funds available immediately, with the remaining balance released once settlement is complete.
EEARN is the first vault to support Atomic, with more vaults to follow.
A faster, more flexible way to access your capital.
Explore Ember Atomic: ember.so/earn/ATMC
Joe Wait retweeted
Introducing ETPLUS, Ember Treasury Plus, now live on Ember as our first vault launch on @monad.
ETPLUS provides onchain access to TPLUS, a short-duration private credit strategy backed by Epoch Digital.
The strategy allocates across bank payment receivables, payment processing receivables, and insured trade receivables, backed by contractual cash flows with insurance, over-collateralisation, or other credit enhancement.
The underlying TPLUS fund is structured through a CIMA-regulated Cayman SPC, with independent administration by Ascent, audit by Forvis Mazars, custody with Anchorage Digital, and onchain proof of reserves and daily NAV feeds via Chainlink.
Explore ETPLUS: ember.so/earn/eTPLUS
Private credit involves risks, including credit, liquidity, and loss of principal risk. Eligibility restrictions apply.
Joe Wait retweeted
One of the best examples of tranching on @roycoprotocol is @EmberProtocol's eEARN.
The underlying strategy has been growing steadily for months, and the team deserves a lot of credit for managing it so well.
But what I find really impressive is the Junior tranche.
Despite launching 76 days after the underlying strategy, it managed to overtake the strategy's NAV in less than two months.
And it reinforces something I've said many times: if you know how to underwrite the underlying strategy and understand the risks you're taking, investing in Junior tranches can give you a very interesting edge.
eEARN is a great example of that.
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.
Joe Wait retweeted
We are pleased to be working with @chainlink to expand access to Ember vaults across 80+ supported blockchains through CCIP Vault Adapters.
Distribution is a critical part of bringing institutional-grade financial products onchain, and this integration is an important step toward making those products more accessible.
Enhanced yield without looping.
@EmberProtocol x @roycoprotocol
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.
Tricrypto is dead, long live Trichip
On @RobinhoodApp's blockchain there is a @CurveFinance liquidity pool that holds three semiconductor stocks and no dollars. Just $NVDA, $AMD, and $SNDK, pooled against one another, quoting prices to anyone who wants to swap one chipmaker for another.
Read what @TheThadP learned from this experiment here: galaxy.com/insights/research…
Joe Wait retweeted
Ember is now integrated with @yield_xyz.
PPLUS and EEARN can now be accessed through the Yield API, giving wallets, custodians, and fintech platforms a simple way to integrate Ember vaults directly into their products.
Making Ember vaults easier to access.
New @EmberProtocol vaults are now live on the Yield API.
Builders can add levered credit yield through $PPLUS and diversified stablecoin yield through ember-earn:native using one integration.
Learn more: yield.xyz/blog/ember-protoco…
Joe Wait retweeted
PPLUS is now at $14M+ in TVL, with a 12.42% 30D avg APY.
great to see the @Bitwise premium+ RWA vault on @EmberProtocol continue to grow and perform. PPLUS also extends beyond the vault, with lending and borrowing opportunities available on @suilendprotocol and @bluefinapp.
dropping the links in the post below.
