> ## Documentation Index
> Fetch the complete documentation index at: https://docs.cove.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# Boosties

> The first dedicated liquid locker and staking platform for Yearn, built using Yearn V3

<img className="block dark:hidden" src="https://mintcdn.com/stormlabs/qew6jsW71Sw-JZvn/images/headers/light-boosties.svg?fit=max&auto=format&n=qew6jsW71Sw-JZvn&q=85&s=6967740e1eeb932fd0ca1cc7bd653c07" alt="Boosties Light" noZoom width="1065" height="383" data-path="images/headers/light-boosties.svg" />

<img className="hidden dark:block" src="https://mintcdn.com/stormlabs/qew6jsW71Sw-JZvn/images/headers/dark-boosties.svg?fit=max&auto=format&n=qew6jsW71Sw-JZvn&q=85&s=692996b39edc0380c1575bffbd2e7dec" alt="Boosties Dark" noZoom width="1065" height="383" data-path="images/headers/dark-boosties.svg" />

## Boosties

Boosties is a liquid locker and staking platform that allows users to
efficiently benefit from Yearn's
[dYFI](https://docs.yearn.finance/getting-started/products/veyfi#dyfi)
emissions on their vault tokens. Boosties is built using Yearn V3 strategies
to synergize with the Yearn ecosystem.

dYFI is a token introduced as part of Yearn's veYFI tokenomics program. It is
an ERC-20 token that allows its holder to buy back YFI at a discount (currently
\~84.65%). dYFI is distributed to users who stake their Yearn vault positions.

<Frame caption="banteg, the infamous bunny talisman of Yearn, originally coined the term boosties">
  <a href="https://twitter.com/bantg/status/1306954641175973890" target="_blank">
    <img className="block dark:hidden" src="https://mintcdn.com/stormlabs/qew6jsW71Sw-JZvn/images/banteg-light.jpg?fit=max&auto=format&n=qew6jsW71Sw-JZvn&q=85&s=4925641f0b71d672f9a3c172f3915bc7" alt="Hero Light" noZoom width="2256" height="860" data-path="images/banteg-light.jpg" />

    <img className="hidden dark:block" src="https://mintcdn.com/stormlabs/qew6jsW71Sw-JZvn/images/banteg-dark.jpg?fit=max&auto=format&n=qew6jsW71Sw-JZvn&q=85&s=a8f7d2a761fb84d2b6b0937b499b846f" alt="Hero Dark" noZoom width="2264" height="864" data-path="images/banteg-dark.jpg" />
  </a>
</Frame>

### Problem

Yearn requires users to provide both **veYFI** (vote escrowed **YFI**) and
vault tokens in proportion to earn maximum boosted **dYFI** yield on their
positions. Users that do not balance their positions suffer from earning
suboptimal **dYFI** emissions.

### Solution

**Boosties** allows users to take full advantage of Yearn’s **dYFI** emissions
through a protocol owned **veYFI** boost. This is done without requiring
individuals to hold both **veYFI** and gauge tokens.

## Launch Parameters

### Guarded launch

[Guarded
launches](https://medium.com/electric-capital/derisking-defi-guarded-launches-2600ce730e0a)
are a risk management approach for deploying new DeFi products that
intentionally limit the functionality of a system using configurable rules and
thresholds. This allows users to interact with the product in a limited,
low-stakes environment initially. As confidence in the system grows over time,
governance processes can relax the risk controls to allow the system to scale
up safely.

Boosties is initially launching with a TVL cap of \$50K per vault, which will be
increased over time.

### Fees

A 15% performance fee is charged on harvests:

* 5% to the protocol treasury
* 5% to coveYFI stakers
* 5% to buy YFI and perma-lock it as coveYFI

Additionally, a 5% performance fee is charged on early exit (YFI) and boost
forfeit (dYFI) rewards for the protocol treasury.

Gauntlet has developed a model to optimize Cove's fee structure, so these values
will change in the future as the model output is incorporated into the protocol.
The maximum treasury fee is capped at 20%.