User Guides

Getting Started with Tapir:

Owning DP (Depeg Protected) Tokens

Becoming protected against depegs by providing a slight premium boost to the Yield Boosted (YB tokens) holder

• Automatic

  • Go to the trading view of your desired yield-bearing asset

  • Select the DP version of the given yield-bearing asset and press "Buy" This will go through all the steps explained in the "Manual" buying mode described below

• Manual

  • Go to the split view of your desired yield-bearing asset

  • Split the desired amount of tokens, you will receive DP + YB tokens.

  • Go to the LP view of the given yield-bearing asset

  • Swap YB tokens for DP tokens, now your full position is depeg protected

• Note

  • Manual mode is advantageous only if you believe that swap price will be better in the future, or want to swap the YB token using limit order

Owning YB (Yield Boosted) Tokens

Becoming an underwriter by selling depeg protection (DP token) & earning additional yield provided by DP token buyers.

• Automatic

  • Go to the trading view of your desired yield-bearing asset

  • Select YB version of the given yield-bearing asset and press buy This will go through all the steps explained in the "Manual" buying mode described below

• Manual

  • Go to the split view of your desired yield-bearing asset

  • Split the desired amount of tokens, you will receive DP + YB tokens

  • Go to the LP view of the given yield-bearing asset

  • Swap DP tokens for YB tokens, now your full position is yield boosted, earning additional yield and providing depeg protection

• Note

  • Manual mode is advantageous only if you believe that swap price will be better in the future, or want to swap the DP token using limit order

Providing Liquidity

Earn trading fees from users buying & selling depeg protection

• Steps

  • Go to the split view of your desired yield-bearing asset

  • Split the desired amount of tokens, you will receive DP + YB tokens

  • Go to the LP view of the given yield-bearing asset

  • Click on "Provide Liquidity" button, now you are earning additional yield from every depeg pool swap

• Note

  • When the liquidity pools become imbalanced, and a depeg event occurs, you can experience a capped downside drawdown (within the 50% coverage buffer), usually much smaller (strictly smaller) in comparison to holding YB tokens only. In most cases, this loss will be equivalent to just holding the underlying yield-bearing asset without the protection. In rare cases, it could be closer to holding YB assets when depegs occur >50%, similar to TerraUSD, where it results in impairment loss.

Advanced Strategies:

• Arbitrage: Profit from mispricing between Depeg Protected Asset/Yield Boosted Asset and Principal Token/Yield Token markets