Yeet is one of the protocols within the Berachain ecosystem that offers, on the one hand, a community co-opted by the yeet-cult and on the other, three products that take advantage of the PoL consensus of this blockchain: the Yeet Giga Bonzi Game, the Liquidity trifecta and Yeetbonds.
Its mission and vision is defined in becoming the largest bonzi in Berachain.
With a particular way of addressing its "followers" and communicating information, the project team appears to be retarded, but they hide one of the opportunities to take advantage, with their token, of all the benefits of the Berachain PoL proposal.
With hundreds of followers who shout and write "yeet" everywhere (remember the raids in selected discord servers where they appeared taking over all the channels), we consider Yeet to be a protocol with multiple dimensions of depth and understanding... from cult and exacerbated lore to sophisticated DeFi product.
The roadmap that the project team has planned for the future is as follows:
Continue the incubation of multiple projects building in the Yeecosystem, such as telegram bots that uses can yeet from, or communal yeeting products where users can share risk (4+ projects being built at the moment).
Continue to amass volume and deals from other protocols to launch YeetBonds, and get more integrations from cross-chain aggregators.
Build out social features for the Yeet Bonzi, such as social profiles and onchain badges that highlight different actions and behaviors, creating a Yeet onchain social graph.
Transition to a dynamic issuance supply curve to improve long term sustainability.
Build a gamified Yeet layer on top of Berachain DeFi where whitelisted products can be "yeeted" into from the Yeet app (extremely long term).
As of today, the project is overcoming a successful testnet phase of its products. Some metrics regarding this are the following:
Yeet is the biggest bonzi on Berachain and one of the most prominent brands in the ecosystem.
Has a high level of connection with the lore, technology and projects of the ecosystem.
Its three products leverage Berachain's PoL consensus technology:
Through the Giga Bonzi game:
Players yeet $BERA into a pot.
The last player to make a yeet, earns 80% of the final pot.
20% of the final pot is distributed randomly to 10 players.
The player can earn $YEET tokens by making yeets 15% of every yeet is taxed and is divided among:
9% to $YEET stakers (via yield vault).
5% to the Yeet treasury.
1% to Public Goods funding on Berachain.
With the Liquidity Trifecta:
The Liquidity Trifecta is a partnership with Kodiak and Beradrome which results in $YEET/$BERA LPs receiving multiple tokens as incentives.
The Liquidity Trifecta Vault is a Yeetard-friendly automated yield product which farms rewards, and compounds them into a $YEET/$BERA LP position TO significant percentage of yeeting volume in the Yeet Bonzi will be deposited into the vault, minting new vault shares.
These shares are distributed as rewards to $YEET stakers.
With Yeetbonds:
The YeetBonds marketplace is where protocols and users can exchange tokens in a discounted, slippage-free, and permissionless way.
Protocols issue a YeetBond of their token, which buyers can purchase.
YeetBond sales are slippage-free because they are peer-2-peer, and do not use an AMM.
A YeetBond is a sale of tokens at a discount to market price, with a short lock-up period (typically 2-7 days).
Protocols can use YeetBonds to acquire any ERC-20 token: it could be stablecoins, LP tokens, or other strategic asset
Community members and buyers can use YeetBonds to acquire protocol tokens at a discounted price, and benefit ecosystem protocols. Win-win, and furthermore Yeet.
Yeet is a one-of-a-kind product due to its distinctive culture, unique mechanisms, and mix of left curve and right curve DeFi liquidity strategies.
This is why the project has no direct competitors in the ecosystem.
Everything about Yeet is unique, from its novel mechanisms that were written from scratch and the distinctive Yeetarded culture that can’t be found anywhere else.
Yeet has built its bonzi to be sustainable over time and has continued to incorporate different protocols to issue YeetBonds.
Furthermore, the team has at some point expressed long-term visions to create more social features around the bonzi as well as a possible gamified layer on top of Berachain’s entire DeFi.
Its extremely strong position in the ecosystem also gives it a huge advantage that is sustainable in the long run. The strength of the Yeet community is also a long-term advantage.
SECTION 1 - FINAL SCORE: 20/20
SECTION 2: TOKENOMICS & IDO CONDITIONS
IDO TERMS AND CONDITIONS
SCORE = 5/5
The details of the IDO can be found in the Mirror publication of 12/18/24, where the public sale of the $YEET token is announced.
On 01/29/25 it was updated when the airdrop was announced.
The goal to Public Sale fundraising is to provide instantly liquidity to make flywheels work (Liquidity Trifecta).
Up to 8% of the $YEET supply will be available for sale on Ramen Finance via a Sealed Bid Auction, with a price floor of $12.5M FDV.
Sale participants will receive 100% of purchased tokens immediately with no vesting.
The sale will last for 69 hours and a uni-v3 pool will be seeded upon its conclusion at the same valuation the sale ends at
Protocol deployment will happen immediately after sale is concluded and revenue sharing to $YEET stakers
1% of bonzi volume will go to Public Goods funding on Berachain
Protocol Revenue is earned through Staking directly on the protocol website (Protocol Revenue is in $BERA tokens).
9% of total "yeeting" volume (all of this is in $BERA) is deposited into the Liquidity Trifecta Vault, and newly minted vault share tokens are awarded to stakers.
50% of revenue is used to buyback $YEET, which is paired against remaining $BERA and is farmed in the vault.
Staker revenues are being farmed and compounded on behalf of users, as well as providing liquidity to $YEET.
The project has a good integration with proof of liquidity and Berachain Ecosystem.
With the Liquidity Trifecta Vaults, the Project uses all power of PoL staking the tokens on the Kodiak’s Islands and Deposit the LP Tokens into Baradrome Gauge.
The Project revenue is 100% in $BERA ensuring robustness and avoiding the problem of generating inflation as the use of the protocol increases, a problem observed in several crypto projects.
On the other hand, they contribute to the ecosystem the concept of Protocol Owned Liquidity (POL), on the Proof of Liquidity chain (POL), to harness what their call POL²:
This is achieved through a product called Yeetbonds.
In it, protocols offer their token at a discounted price and obtain more liquidity from buyers to generate yields, bribes, and $BGT.
Buyers obtain the protocol's token at a discount when paying for the bond with their LPs.
In this way, the protocol becomes the owner of the liquidity.
The ecosystem that makes up Berachain has in itself an exponent that perfectly conveys its lore. It is Yeet, whose onomatopoeic name perfectly describes one of the most characteristic profiles of this culture.
Regarding their social networks, we can say that they are especially active in X, both in their official account and in that of their founder Lord Pemberton Squigglebop.
His presence on The Honey Cast, as well as in other podcasts and interviews, ensures that information reaches his users in a direct and concrete way.
The project also manages a Discord server since January 2024.
Both Yeet and its CEO are omnipresent in the Berachain space, with currently more than 65K followers only in the main account and almost 5k users on Discord, and they also have a very high engagement rate.
Their constant active exposure on social networks and their incessant growth in collaborations with other projects in the sector, not only from a marketing point of view but also from a perspective applied to the economic flywheel, mean that they continue to be in the spotlight for all those newcomers to the ecosystem outside of the most veteran users and projects.
As active and total users base, 30.5k $YEET stakers along with 4.33M $BERA testnet yeeting volume, being one of the earliest and most used apps on Berachain testnets.
Till date, YEET has more than 67K followers on X, with more than 4.3M impressions and an engagement rate of 8% or above.
The discord server, as we already mentioned, almost has 5k users, with more than 25 channels and an average of 56% new member retention.
The activity dedicated to the Discord server is undoubtedly one of the strong points of this community that never stops organizing nice activities that maximize the retention of its community.
They also have a FAQ where they guide new users to manage the platform.
The Yeet team is deeply involved in sharing, through documentation with Mirror articles, contests and activities, about the functioning of the protocol.
This helps them to have an involved and vibrant community, articulated through the ownership of their collection of NFTs as well as the staking of their $YEET token (on the Bartio testnet).
The team also provides several tools to engage users through community memes, games and establishing alliances with other Berachain projects to reward their NFT holders…
Their community is so driven that several of the holders of these NFTs (more than 200) have decided to burn them, turning the collection into a deflationary one.
TRANSPARENCY
SCORE = 4/5
Almost daily, the team provides useful information about the development of the projects and their collaboration agreements.
However, despite being a project that constantly shares information, the humorous tone of its communications as well as its documentation can be a barrier to understanding for users less informed about the history, lore and culture associated with Berachain or for more traditional investors.
SECTION 3 - FINAL SCORE: 19/20
SECTION 4: SECURITY & RISK ASSESSMENT
SECURITY AUDITS
SCORE = 5/5
The project has conducted three audits of its smart contracts:
The first one was conducted in May 2024 by the firm Shieldify.
The smart contracts analyzed were the following:
The errors and problems found were fixed.
The second audit, carried out on September 2024, was of the following Smart Contracts:
No critical errors were found in the audit:
The third audit, carried out at the end of October 2024, was conducted on the following contracts:
The result revealed three critical errors and one high-impact error, among others. These errors have already been fixed in the smart contracts.
The project has entities registered in the Cayman Islands, BVI and Panama through which it operates within the rules of the relevant jurisdictions and regulations
To ensure regulatory compliance, appropriate entities and foundations have been created and active legal counsel is regularly engaged.
Yeet is only incorporated in locations and operates in a manner that minimizes or eradicates all long-term legal risk.
RISK IDENTIFICATION
SCORE = 5/5
The main technical risk the project may encounter is that of an exploit, which is the same risk for any other project that has TVL. This risk has been minimized by level 1 audits cited above.
Another risk is linked to liquidity: Yeet receives many partner tokens as liquidity incentives, if these partner tokens become worthless, that could affect Yeet detrimentally and impact YEET/BERA's liquidity.
This risk is also mitigated by plans to have large amounts of liquidity owned by the protocol.
CONTINGENCY PLANS
SCORE = 5/5
The contingency plans are set out above.
On the one hand, careful and robust development of smart contracts, solving the risks identified in the audits carried out.
Progressively acquiring the largest amount of liquidity through PoL2, since this mitigates situations inherent to the fluctuation of third-party tokens that may affect Yeet's liquidity.
SECTION 4 - FINAL SCORE: 20/20
SECTION 5: CREDIBILITY, LEGITIMACY & QUALITY
PROJECT AND TEAM BACKGROUND
SCORE = 5/5
Looking at their social media, we could say that the Yeet team is more than involved with their lore and the lore of Berachain.
It is not a "conventional" or "traditional" team, at least according to what they show on social media.
On the other hand, we can see in the image bellow more data about this core team:
The distribution of roles is established and the team has already developed the game, Liquidity Trifecta and YeetBonds.
Lord Pemberton: previous founder a of a public good which won multiple hackathons in first place, also previously in-house mechanism designer at a crypto VC + accelerator
Koala: Prev founder of online CSGO skins casino, and also lead engineer for fleet of self driving vehicles.
Pepe jones: extensive contract work as an artist in web3, and also artist for Moni Talks.
Extended team of contractors spans tier 1 crypto companies and defi protocols.
PROJECT HISTORY
SCORE = 5/5
Yeet is a project operating on the Berachain blockchain, focusing on innovative financial mechanisms and community engagement. Their recent initiatives include:
$YEET Public Sale: Announced on December 18, 2024, this event details the upcoming public sale of the $YEET token.
Liquidity Trifecta Vault: Introduced on November 7, 2024, this vault offers enhanced yield opportunities on Berachain, designed to be user-friendly for the Yeet community.
YeetBonds: Launched on August 19, 2024, YeetBonds represent a new approach to Protocol Owned Liquidity (POL²), aiming to improve financial mechanisms within the ecosystem.
POL² Strategy: Detailed on June 10, 2024, this strategy outlines the financial engineering behind POL² and its significance for Yeet's future roadmap.
Protocol Owned Liquidity on Berachain: Discussed on June 3, 2024, this entry explains the advantages of Protocol Owned Liquidity powered by Berachain’s Proof of Liquidity consensus mechanism.
These developments highlight Yeet's commitment to leveraging Berachain's unique features to create innovative financial products and engage with their community.
REPUTATION IN THE ECOSYSTEM
SCORE = 5/5
Yeet is a prominent figure in the Berachain ecosystem, actively contributing to its growth through community engagement, innovative strategies, and high-impact partnerships.
Yeet’s approach to community building is unique and inclusive. By referring to its members as “yeetards,” the project establishes a distinctive identity that resonates deeply with its followers. (While it sounds derogatory to some people’s ears, the moniker is part of the lore.)
This label, while unconventional, reflects the lighthearted and irreverent culture that Yeet fosters, encouraging members to embrace the fun side of DeFi.
On the other hand, while it has attracted a large community of enthusiasts, some criticisms and concerns have been raised regarding the project such as technical and security risks or lack of transparency.
Yeet’s activities within the Berachain ecosystem highlight a comprehensive strategy that combines financial innovation with community-focused initiatives.
PARTNERSHIPS AND COLLABORATIONS
SCORE = 5/5
Yeet’s strategic collaborations within the Berachain ecosystem underscore its commitment to innovation and value creation. Here are some of the key partnerships:
BeraTrax: This partnership serves as a guidepost for Yeet community members, helping them navigate the complex world of DeFi.
By providing insights and tools for optimal strategies, BeraTrax empowers users to make informed decisions and maximize their participation in the ecosystem.
Ramen Finance: As the main bonding partner for YeetBonds, Ramen Finance plays a critical role in implementing Yeet’s Protocol Owned Liquidity (POL²) strategy.
This collaboration enhances the ecosystem’s financial infrastructure, offering robust mechanisms for liquidity management.
It will also be the launchpad for the $YEET token.
Kodiak: the Kodiak Liquidity Trifecta is a strategic collaboration between Beradrome, Yeet, and Kodiak designed to enhance and enable sticky liquidity within the Berachain ecosystem.
Kodiak offers incentives for liquidity partners as Yeet is a Tier 1 partner.
Beradrome: Yeet commits 6% of total supply vested over 12 months to bribe the Liquidity Trifecta gauge. Beradrome commits 9% of the DAO allocation burned into voting power to the Yeet multisig 100% of these bribes are exclusively going to Beradrome voters who vote for the Liquidity Trifecta gauge.
Berabot: Aimed at increasing user engagement and platform functionality, Yeet’s partnership with Berabot integrates exclusive features tailored for the community.
Underground Waifus: Demonstrating its diverse approach to community engagement, Yeet teamed up with Underground Waifus to host a music event. This collaboration not only showcased Yeet’s commitment to cultural initiatives but also strengthened ties with a broader audience, blending entertainment with community interaction.
Berachain Ecosystem Collaborations: Beyond individual partnerships, Yeet is deeply integrated into the broader Berachain network.
This includes collaborative efforts to leverage Berachain’s Proof of Liquidity (PoL) consensus mechanism, which enhances the stability and utility of Yeet’s financial products.
These ecosystem-wide synergies ensure a cohesive and mutually beneficial growth trajectory for all participating projects.
HPOS:top secret things on their L2.
SECTION 5 - FINAL SCORE: 20/20
RATING RESULTS
The project presents a solid value proposition, excellent integration with Berachain, well-structured tokenomics, high social media activity and engagement, and robust security measures.
This report has been prepared with information provided by the S&P team of Contributors:
Executive Producer:
Assessment date: 12/28/24 - Updated 02/04/25
Disclaimer
While S&P doesn't guarantee absolute protection against scams and rug pulls, it is a valuable tool for navigating the Berachain ecosystem with enhanced security.
