The new, Yearn-curated @term_labs USDS vault is ramping up! The vault now earns a fixed 7.5% APY on ~69% of USDS deposits and ~4.8% APY on the remaining deposits through Yearn USDS Vault. It's also earning @capmoney_ points. Let's walk through how the depositors are earning additional yield on their USDS.

Should Spark use SubDAO USDS to buy back $SPK? And if so, when? SAEP-06 proposes a rules-based policy. As part of our risk work with @sparkdotfi, we backtested the framework and provide forward looking scenarios to understand the impact of this proposal. Here's what the data shows 🧵