๐Ÿš„ Only Boost

๐Ÿš„ OnlyBoost Strategies

The Best Boost You'll Ever Get


OnlyBoost Strategies are currently exclusively available for Curve.

๐Ÿค” Why OnlyBoost?

In the early days of Curve, users had limited options to boost their liquidity:

  • They could use Curve directly, boosting with their own veCRV balance.
  • Or they could use Convex (minus a fee), built on top of Curve, to profit from Convex's veCRV balance.

As multiple protocols like Stake DAO, Yearn, etc., emerged, it became a challenge for users to choose the best option to boost their LPs' yield.

This is where OnlyBoost strategies come into play: They optimize boost by distributing LPs across different platforms.

Here is a diagram to summarize how OnlyBoost strategies works

Only Boost

๐Ÿ’ธ Performance fees

The performance fees are the same as on regular Curve strategies.

๐ŸŽ›๏ธ How Does It Work?

Stake DAO doesn't simply fill up their own locker first and then deposit the remaining into other protocols. Although this method could work, it's not efficient enough to cover the fees associated with Convex. Instead, Stake DAO employs a calculated approach, using a specific formula to determine the optimal amount to deposit in its own locker first. This formula takes into account the fees.

Here is the formula, from the OnlyBoost Whitepaper (opens in a new tab)

3ร—(1โˆ’FSD)ร—balanceConvexร—veCRVStakeDAO2ร—(FSD-FCVX)ร—balanceConvexร—veCRVTotal/totalSupply+3ร—veCRVConvexร—(1+boostโˆ’FCVX)\frac{{3 \times (1 - \text{{FSD}}) \times \text{{balance}}_{{\text{{Convex}}}} \times \text{{veCRV}}_{{\text{{StakeDAO}}}}}}{{2 \times (\text{{FSD-FCVX}}) \times \text{{balance}}_{{\text{{Convex}}}} \times \text{{veCRV}}_{{\text{{Total}}}} / \text{{totalSupply}} + 3 \times \text{{veCRV}}_{{\text{{Convex}}}} \times (1 + \text{{boost}} - \text{{FCVX}})}}

Where :

  • FSD: Total fees of Stake DAO
  • FCVX: Total fees of Convex
  • balance_Convex: Amount of LP token (deposited) held by Convex
  • veCRV_StakeDAO: The veCRV balance of Stake DAO
  • veCRV_Total: The total veCRV balance
  • totalSupply: Total supply of LP token (deposited)
  • boost: The boost of Convex (due to their veCRV)
  • veCRV_Convex: The veCRV balance of Convex

This formula calculates the optimal amount to deposit in Stake DAO Liquid Lockers, from the total value to be deposited, before allocating the remaining to Convex.