nest CL · Hyperliquid L1

UBTC-USDC (0.15%)

Overview

The NEST V1 UBTC-USDC pool on Hyperliquid L1 is an LP token that represents liquidity provided to a decentralized exchange for the trading pair of UBTC and USDC. The protocol generates yield by accruing trading fees from users swapping between these two assets, which are then distributed proportionally among liquidity providers. This pool competes with other venues offering similar pairs on Hyperliquid L1 but stands out due to its specific fee structure.

The total APY for this pool is 33.99%, generated entirely through rewards as there is no base yield component. Trend data is not available for this pool, so the current rate cannot be compared against recent historical performance or a mean value over the past month. Given the lack of trend information, it's unclear if yields are expanding, compressing, or remaining stable.

TVL in the NEST V1 UBTC-USDC pool currently stands at $11.54M and has shown stability without significant changes over the last week. The primary risk exposure for this multi-asset liquidity pool is impermanent loss (IL), which occurs when the price of one token relative to another fluctuates, causing a difference between holding tokens outright versus providing liquidity in a pair. Additionally, the depth of liquidity can impact trading slippage and fee generation, affecting overall yield performance.

Composed 2026-05-22 from the structured data above. See methodology for the full pipeline.

Risk profile

• Smart contract risk

  Funds are deposited into a smart contract. A bug or exploit in the contract could lead to total loss. Audits reduce, but do not eliminate, this risk. Check the protocol page for audit history.

• Impermanent loss

  This pool holds multiple assets, so price divergence between them can reduce your USD value below what holding the assets separately would yield.

• Yield variability

  Current APY is 101.27%; 30-day mean is 27.81%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Down" with 98% confidence based on historical patterns.

These notes are derived from the pool's structured data, not editorial advice. See our methodology.