AscentYield

AscentYield is a CeDeFi yield protocol deployed on Arbitrum in 2024, with HedgePlus as its main product line; users participate with USDC and earnings are paid in USDC. The protocol issues ascentBTC, whose value tracks bitcoin: when a user mints with ETH, the system converts at the prevailing quote and, at the same time, shorts the ETH/BTC pair on centralized exchanges using the deposited ETH as margin, hedging relative price movement between the two assets. On redemption the hedge is closed and ETH returned, so the asset follows bitcoin rather than ether.

The difference from simply selling ETH for BTC is that the user's ETH stays inside the protocol and can keep serving as margin for market making and capital rate capture, layering additional return. The design combines centralized exchange liquidity with on-chain verifiable asset records, placing it in the CeDeFi category; public data services list it among yield protocols, with on-chain capital once recorded at roughly 1.49 million US dollars, alongside external staking and venue positions used as capital sources.