Connect Yearn activity to Bitwave for streamlined digital asset accounting, reconciliation, and financial reporting.
Vault shares translated to underlying value
Bitwave recognizes Yearn vault tokens in a synced Ethereum wallet and uses the vault's share value to express the position in terms of the deposited asset.
Deposits and withdrawals as vault movements
Moving assets into or out of a Yearn vault can be categorized in Bitwave as a vault deposit or withdrawal, so the movement changes the form of the holding without being recorded as a sale.
Yield recognized on exit
Because the position is carried at the underlying asset, the difference between what was deposited and what is withdrawn can be identified and categorized as income when the vault position is closed.
How it works
Bitwave connects to the Ethereum wallets that deposit into Yearn. When a wallet is added, Bitwave syncs its transactions and recognizes Yearn vault tokens, reading each vault's share value to relate the shares held to the underlying asset.
Your team categorizes vault deposits and withdrawals using Bitwave's position categorization, and the resulting positions are visible in reporting.
The workflow:
- Add the Ethereum wallet that deposits into Yearn vaults.
- Bitwave syncs the wallet and identifies Yearn vault tokens and their share value.
- Categorize deposits and withdrawals as vault movements, individually or through rules.
- Review vault positions in the balance report and categorize the yield realized on withdrawal.
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Yearn vaults compound yield into the value of a share rather than paying it out, which means a wallet's token balance stays flat while its economic value rises. Bitwave reads the vault's share value so the position is carried at the value of the underlying asset.
For the finance team this means vault deposits do not trigger gains, the balance report reflects what the vault shares are worth in the deposited asset, and the yield can be identified and booked to income when the position is withdrawn, giving a defensible accounting trail for vault activity.
Complete. Transparent. Secure.
ERPs
Sync data in real-time and eliminate manual errors. Bitwave seamlessly integrates with your existing back-office software for easier reporting.
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Blockchains
Bitwave supports tokens on the Bitcoin, Ethereum (All ERC-20 tokens + Layer 2), Solana, NEAR, and more. We are constantly adding support for new Blockchains.
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Custodial Wallets
Bitwave currently supports Fireblocks, NYDIG, BitGo, and Anchorage custodial wallets. We are constantly adding support for new Custodial Wallets.
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DeFi Protocols
This is just a sample of the DeFi protocols we support. Click below for the full offering of DeFi integrations currently in place, with more being added each day.
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Exchanges
This is just a sample of the key Exchanges we support. Click below for the larger offering of Exchanges supported, with more being constantly added.
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Multi-Signature Wallets
Bitwave supports a variety of multi-signature wallets, such as Gnosis Safe, Zebec, and Electrum. We are constantly adding support for new Multi-Signature Wallets.
