We’re asking stYFI voters to approve 154,040 USDC to fund yLockers from 15 October 2026 through 6 January 2027 inclusive (12 weeks; 84 days).
- Requested funding: 154,040 USDC (126,840 for direct expenses and 27,200 in contributions to other yTeams).
- Funding period: 15 October 2026–6 January 2027 (84 days; epochs 18–23).
Background
yLockers is the revenue-generating yTeam behind yCRV, yYB, yFactories, and other products across Curve and related protocols. We build and maintain these products and manage Yearn’s treasury positions, with the aim of bringing in more revenue for stYFI holders and the DAO treasury.
We sent 366,822 USDC to Yearn as our revenue contribution for the previous funding period. Our previous budget request sets out the scope and funding for that period.
Scope and priorities
Ongoing work
- yCRV and yYB: Maintain and improve the lockers, reward systems, auto-compounders, and interfaces.
- Treasury positions: Manage Yearn’s veToken holdings and direct weekly votes to maximise revenue, including the veCRV, veAERO, and veVELO positions.
- yFactories and veFarming: Keep the vaults, factories, and strategies running across Curve, Aerodrome, Velodrome, and other supported protocols.
- Resupply: Look after Yearn’s involvement in the protocol, including its permastaked RSUP position, revenue collection, and outstanding loan.
- Tools and operations: Develop and maintain the dashboards, automation, governance tools, and multisig transaction review bot that support our products and Yearn more broadly.
- yRisk: Act as Curve’s risk provider, reviewing assets, assessing market parameters, monitoring risks, and supporting governance proposals. A separate Curve grant funds this work, with 5% of gross grant revenue going to Yearn.
Priorities for this period
- Curve yFactory migration: Move from Yearn V2 to V3, adding StakeDAO strategies so the vaults can use boosts from Yearn, Convex, and StakeDAO.
- LlamaLend V2 integrations: Bring Yearn’s crvUSD-2 vault onto Resupply with LlamaLend V2 strategies.
- yCRV and yYB automation: Finish automating more of the claims, reward sales, bridging, and reporting, including updating the yCRV YBS strategy to take fees as crvUSD-2.
- Yield Basis: Improve yYB and related strategies in collaboration with the Yield Basis team.
- Aerodrome and Velodrome merger: Prepare our vaults and Yearn’s treasury positions for the changes.
We’ll also look for new revenue opportunities that fit with the products and positions we already manage.
Team
The yLockers core team consists of wavey and dudesahn, working through their respective limited companies.
Budget
Following DAO-ops’ transition guidance, core contributor funding is prorated from $135,000 for 90 days to $126,000 for 84 days, equivalent to $10,500 per week.
We’ve also reviewed our contributions to other yTeams to better reflect our actual use of their services, with some reductions beyond the adjustment for the shorter period. The revised allocations are prorated to 84 days and rounded up to the nearest 100 USDC.
| Budget item | Amount (USDC) |
|---|---|
| Direct expenses | 126,840 |
| Core contributors | 126,000 |
| Nodes/Hosting/Cloud services | 840 |
| Contributions to other yTeams | 27,200 |
| Production engineering | 9,400 |
| ySupport | 8,400 |
| WebOps | 4,700 |
| Security and Monitoring (SAM) | 4,700 |
| Total requested | 154,040 |
Funding asset and recipient: 154,040 USDC worth of yvUSDC-1 shares, approved through the FundingDistributor for the yLockers team contract:
0x901e4EE013b842e30F3220C7c2794A80D4BAf19A
The shares vest over 84 days from 15 October 2026 at 00:00 UTC. The share amount is fixed at the vault’s USDC conversion rate when the execution script is prepared.
Reporting
We’ll post a public yLockers update in this forum thread before the next budget vote, covering our revenue contribution, product performance, and progress on the work outlined above.
Vote
- For: Approve 154,040 USDC of funding for yLockers for 15 October 2026–6 January 2027 (84 days), through the FundingDistributor.
- Against: Do not approve this funding request.