Ever wondered what would happen if you combined Berachain's liquidity layer with a DAT style structure and a token run by a team so deluded they thought yellow was a good colour scheme?
Even crazier, are you interested in getting involved? If so, read on to find out more 🧵
@YeetStrategy @eatsleepyeet The YAT (Yeet-Asset Treasury) is a structured on-chain portfolio with one goal - acquire as much YEET token as it possible can.
The team have started strong on this front, with the launching with 55 Million YEET (Approx 5.5% of the total supply of the token).
Alongside these tokens the YAT team has closed a raise of 40,000 BERA, who knows who was crazy enough to give them that. This raise is going to allow the YAT to start acquiring more YEET using a 2 pronged strategy. The team appears to have loosely split the BERA into two buckets
The first bucket is a 30,000 BERA allocation which has been deployed into the wBERA-iBGT pool to farm yield. All yield earned in this pool will be used in 3 ways:
1. 70-80% will be deployed in a TWAP pattern of YEET buys
2. 10-20% used to support YEET w concentrated liquidity
3. Any remaining balance will be deployed to make discretionary YEET purchases when conditions are looking juicy
But this portion of the strategy of course leaves out the 10k BERA which were set aside from the 40k raised, and these are of course being used the old fashioned way
5k of the BERA was thrown straight in to purchase another 3.4 Million YEET earlier today, with the other 5k set up to TWAP into YEET every 5 minutes, providing constant buy pressure (which has already started).
Annnnd, all of the above is ofc wrapped up in a fancy lil token
Introducing: shYEET.
shYEET is a token that represents a portion of the YAT treasury, with 65,110,425 minted initially and each worth approx $0.003631 at time of writing. shYEET is tradable on Kodiak, but that's more of a concession for if you the user want to get involved
That's because the primary method that the shYEET supply will grow or shrink is through periodic redemption and issuance phases.
The YAT works in the same way that Digital Asset Treasuries Companies work, with periodic raises issued through YeetBonds to bring in additional BERA
Which will be used to earn more Yield, which will be used to buy more YEET.
YEET, SLEEP, REPEAT
The protocol will also on occasion open up redemption windows for shYEET holders where they are able to redeem their shYEET for the proportionate share of the protocols treasury
Thus shYEET has a floor treasury value, but can also trade at a premium if you're all degenerates and keep buying it up above that floor.
TLDR: the YAT is designed to acquire as many YEET tokens as possible by stacking yield-bearing assets and using the yield to buy more YEET
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