What is this partners program about?
If you want to enable users to deposit into Yearn vaults from your dApp, you can partner with Yearn and earn a 50% split of the fees generated by the TVL you direct to Yearn vaults. This applies only to Yearn v3 vaults and active yLockers, as we do not currently wish to incentivize building on older Yearn projects.
What is required to onboard a new partner?
First, get in touch with us by filling the contact form. Then, configure your dApp to deposit to Yearn v3 vaults using our referral contract at 0x3744Df2673097d738aCaa3E463E6D638867757f2 on supported chains (mainnet, Base, Arbitrum, Katana). We will discuss which referral code to use for the deposit call. You can find a demo frontend to test deposits with referrals here. You will start earning fees as soon as users start depositing through the referral contract using your referral code! Lastly, we need to flip the switch by making the login page work for you so you can track your progress.
What is the wrapper contract?
The wrapper contract address is a way for Yearn v3 vaults to support referral codes. This is not a native feature of the v3 vault code, so a very minimalistic wrapper contract had to be built. It is only used for deposits, so users will withdraw directly from Yearn vaults as they normally would. The contract is located at 0x3744Df2673097d738aCaa3E463E6D638867757f2 on Ethereum mainnet, Base, Arbitrum, and Katana. The code for it is stored here.
How do referrals work for yBOLD and ysyBOLD?
yBOLD is unique in that it has a 2-step process to receive the yield of ysyBOLD. Because of this, getting referrals for ysyBOLD deposits does not go through the standard wrapper contract. Instead, you must deposit through the dedicated zap contract at 0xaACE12d8e8B8BCD16212CB656C912dBC36EFD782.
If my protocol becomes a partner, how do I know the amount of fees accrued to my protocol? When do I get my payout?
Easy, Yearn will provide a login for you to view a dashboard showing the fees accumulated to your protocol. You receive a payout each month to your protocol address.
How does Yearn sum all the fees owed to a partner?
In the background, envio is used to track all deposit, withdraw, and transfer events for relevant Yearn vaults. The list of addresses who deposited into Yearn from your frontend serves as a whitelist to focus only on the events related to the movement of Yearn vault tokens for those users. By calculating the vault PPS (price per share) at every deposit, withdraw, or transfer, it is possible to sum the total fees accrued by a user piece-by-piece over time.
What if a single user deposits into Yearn from two different partner websites?
Yes, that is a tricky situation for sure. Yearn does its best to calculate the fees owned to each party, our backend algo for this is improving every week. The goal is to keep the fee ratio split evenly between N partners, where deposits are attributed to a single partner but withdrawals withdraw from all partners (maintaining the same fee split ratio determined by deposits). If your calculations differ, we are happy to discuss!