When a user votes, the staked YFI is locked for three days. To participate in governance, YFI holders must stake their YFI. YFI is an ERC-20-token used for governance on Yearn Finance. For example, exchange USDC for 圜RV in one action, compared to three on yearn.finance and Curve. Zap - Complete multi-step transactions with a single-click, saving both time and gas costs. Each vault strategy invests assets differently, and each displays a historical return on investment. Vaults - Deposit assets such as USDC and DAI into different Vault strategies. Earn automatically rebalances to optimize the yield for you.ĪPY - Search the lending protocols available on Earn, and give an estimation of the amount of interest they should expect to make annually for a specific amount of money. Yearn Finance has several products that help you optimize certain DeFi activities.Įarn - Deposit stablecoins such as USDC or DAI, then Yearn will search for the best DeFi platforms on which you can earn the highest yield. ![]() Yearn.finance first launched on Ethereum, but is now also available on Fantom. By July 2020, new tools, a new name (Yearn.finance), and a native token (YFI) were live. Cronje left the project, but returned to oversee an overhaul. The predecessor to Yearn.finance was launched by Andre Cronje in February 2020. Yearn.finance started out as a service called iEarn. From there, Yearn launched an automated yield generator, allowing participation from investors who don’t have the knowledge or time to understand DeFi. In a lending aggregator, cryptoassets are automatically switched between lending platforms in search of the best yield. It initially began only as a lending aggregator. Yearn Finance consists of several DeFi products that include: lending aggregation, yield generation, and insurance. Read more: What is Defi? How does Yearn Finance work? Yearn Finance runs on the Ethereum and Fantom blockchains. Yearn Finance’s goal is to simplify the ever-expanding DeFi space for investors who are not technically minded or who wish to interact in a less committal manner than serious traders. Launched in February 2020, the service, formerly known as iEarn, has seen huge growth as new products debuted and developers released the in-house token YFI. It uses automation to allow investors to maximize profits from yield farming. The introduction of YFI staking is expected to drive additional utility to holders as well as a redistribution of protocol revenues.Yearn Finance is an aggregator service for decentralized finance (DeFi) investors. The ongoing success and adoption of Yearn products is expected to accrue value to token holders through positive price impacts. In an effort to boost its treasury, the protocol minted an additional 6.666 YFI tokens, with a third set aside for existing contributors (contingent on their continued involvement). ![]() Instead, the initial 30K tokens were distributed proportionally to users of the platform and liquidity providers (LPs) via different mechanisms. YFI was launched with no supply and no pre-mine for the team. The total supply of YFI is capped at 36.666K tokens. ![]() The protocol's treasury is designed to hold $500K at any time, with any excess profits distributed to YFI token holders. Yearn charges a 0.5% management fee and 5% fee on all earnings. ![]() The primary use for YFI currently is to govern the future direction of the decentralized yield aggregator. YFI is the governance token for the Yearn protocol.
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