Sep 29, 2023 Amongst vaults <1mm in TVL we’ve seen steep 1D declines in yields for HOP USDC Base pool, Compound v2 TUSD, and HOP ETH Base Pool. There has also been a drastic increase in the Aave V3 Base USDbC. Now 1.5 months following launch, Base HOP pools seem to be normalizing (ETH and USDC pools). In the case of the HOP USDC Base Pool, yield is now mostly driven by token incentives. Of the total yield there of 5.06% (3.24% is token yield vs. 1.82% base yield) No real 1D movement on larger vaults. On the week (25th-29th), we see most exaggerated movement in the same names as above. If you were to look at a 5-day comparison, you’d also see a “-70%” 5D average APY change for Yearn v2 USDC, but that is more a function of how they update APY and less a structural change in the underlying yield being generated.