Who Benefits from Tapir?
1. Protection Buyers (DP Holders)
You want: Safety without sacrificing yield
What you get:
✅ Full protection against depeg events (up to 50% loss)
✅ Keep earning the base yield from your underlying asset (e.g., Ethena's 15% APY on sUSDe)
✅ Flexible coverage: Customize your protection level by adjusting your DP/YB ratio
Cost: You pay a small premium (typically 1-3% of yield) by selling YB tokens
Ideal for:
Risk-conscious DeFi users
Institutions with risk mandates
Treasury managers protecting on-chain reserves
Real Example: During the July 2025 sUSD depeg (~5% drop), DP holders were made completely whole while still earning their full base yield.
2. Yield Boosters (YB Holders)
You want: Maximum returns and understand the underlying risks
What you get:
✅ Boosted yield: Earn ~3-5%+ above base yield by selling depeg protection
✅ Capital efficiency: Your assets remain productive (unlike traditional insurance)
✅ Risk transparency: Know exactly what depeg scenarios you're exposed to
Trade-off: You absorb depeg losses in exchange for premiums
Ideal for:
Sophisticated DeFi users who understand protocol risks
Hedge funds and prop shops
Protocols offering protection as a service to their users
Large LPs who can hedge positions with third-party underwriters (e.g., Chainproof)
Liquidity Providers (LPs)
You want: Sustainable LP rewards without impermanent loss on volatile pairs
What you get:
✅ Trading fees from DP/YB swaps
✅ TPR token incentives (Tapir's governance token)
Ideal for:
Active LPs seeking new yield opportunities
Market makers comfortable with DeFi derivatives
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