$CBBTC

realistic apy 31.6%, headline 33.8%. capital range $5k - $151k. 1x leverage.

provide CBBTC/USDC liquidity on orca-dex (solana). base yield from swap fees, no extra rewards. uncorrelated pair means price movements between bitcoin and stablecoin create impermanent loss.

why this might disappear: TVL under $5M means a large withdrawal or a few big swaps can crater the pool’s depth and apy.

risks

• Uncorrelated LP, impermanent loss can erase the APY edge

• Limited TVL ($5,047,657), exit liquidity constraint

• DefiLlama flagged ilRisk=yes for this pool

you’re getting paid to hold a volatile asset vs stable, but the loss from a btc spike might exceed the yield.

what’s your threshold for impermanent loss before you pull?

full deep digest at falsifylab.substack.com

#DeFiYield $CBBTC #OnchainAlpha

Originally published on FalsifyLab Substack.