The first yield was just dropped on swap.projectserum.com! 5k SRM to each of:
SRM/BTC
SRM/ETH
SRM/USDT
SRM/USDC
SRM/SOL
SRM/YFI
SRM/LINK
SRM/SUSHI
SRM/FTT
SRM/FRONT
explorer.solana.com/address/DhQhFV
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The SRM is dropped straight into the pool, not on pool token holders -- so you'll see the value of the pool (and thus the pool tokens) increase when it happens if you e.g. go to swap.projectserum.com and click on Pool