What is Blueberry?
Blueberry is initially a leveraged yield protocol launching on Ethereum (ETH) with a main focus on Uniswap V3 concentrated liquidity positions.
Inside the protocol, there are three different types of participants that each plays an important role to make sure it all works: Lenders, Yield farmers, and Liquidators
- Lenders can lend many assets, e.g. ETH and USDC on Ethereum, to earn a higher lending interest rate compared to most of the other lending protocols as the lending interest comes from the leveraged yield farmers/liquidity providers who borrow these assets to yield farm/provide liquidity in a given market.
- Yield farmers/Liquidity providers can perform leveraged yield farming/liquidity provision on many different asset pairs and strategies of their preference and get even higher farming APY/IRR. Blueberry enables leverage positions by borrowing the specific assets needed on behalf of the users to enter that specific strategy.
- Liquidators can perform liquidations on active positions that are at a negative profit and loss to earn a liquidation incentive on making the position whole for the lender.
A community member made this explainer video of the Blueberry Ecosystem. The video does make one small error--it describes a borrowed asset as a "long" position, which it is not--but otherwise does a very good job explaining the ecosystem: https://www.youtube.com/watch?v=HBDbeUPKijg