[AddToken] yoBTC on BASE #1038
Description
Network
BASE
Token Symbol
yoBTC
Token Name
Yield Optimizer BTC
Decimals
8
Address
0xbcbc8cb4d1e8ed048a6276a5e94a3e952660bcbc
Image URL
Reason
Each of these tokens is a receipt of a deposit of ETH, USDC or cbBTC in the YO protocol. YO has been audited 3 times without any HIgh or Critical vulnerability. The reports can be found at docs.yo.xyz/security-audits.
Through our existing integrations with OpenOcean and Balancer, we are ensuring that buys and sells are served by the protocol vaults directly whenever the swap amount is too large for onchain liquidity. This ensures users are getting in/out at the fair value of the receipt token instead of buying at a premium or selling at a discount. OpenOcean routes all trades through the vault directly, meaning the vaults serve buy orders as deposits and serve sell orders as redemptions.