The Defiant • May 04, 22
Yearn Finance Quietly Expands its Yield Machine with V3 Release Yield Aggregator Taps ERC-4626 Standard for Vaults
Yield Aggregator Taps ERC-4626 Standard for New Vaults Offering
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
The price of yearn.finance has risen by 8.83% in the past 7 days. The price declined by 0.29% in the last 24 hours. In just the past hour, the price shrunk by 0.22%. The current price is $6,648.91 per YFI. yearn.finance is 92.88% below the all time high of $93,435.53.
The current circulating supply is 36,637.721 YFI.
Yearn.finance (YFI) is an Ethereum token that governs the Yearn.finance platform. The platform is a yield optimizer that moves funds around the decentralized finance (“defi”) ecosystem in an effort to generate a high return.
is a yield farming platform with an intuitive interface. is a process of taking to earn interest as passive income. Yearn Finance is a tool that aims to optimize yield to generate a higher return. In other words, this platform is an automation tool that invests into the liquidity pools of various projects to deliver the best possible profits.
Running on , the project’s primary purpose is to simplify yield farming for the masses. The platform eases users’ interaction with other DeFi projects and offers services such as swap and farm in one place. According to the , the project provides three core products: Earn, Vaults, and Iron Bank.
: This is a lending aggregator and shifts funds between different platforms. Users can deposit to these aggregators to earn interest. The of this product ensure that users are obtaining the highest interest rates at all times.
: These are like savings accounts for crypto assets. The user can manage their holdings and choose the best strategies to maximize their yield. The platform offers more than ten different strategies for every kind of user. Further, the platform also helps users shift capital, auto-compounding, and rebalancing.
: This is a lending service for both users and the . The service allows borrowing using the crypto as collateral. is a valuable asset pledged as security for the repayment of a loan. For particular whitelisted protocols, this service also offers zero-collateral loans.
To better understand the platform’s mechanics, let’s illustrate an example. Let’s say a user wants to invest 500 DAI tokens. After giving tokens to Yearn, the protocol issues and returns yTokens. Here in our case, the user gets 500 yDAI tokens. The protocol then moves these tokens to different lending protocols to get maximum yield. Let’s assume that Compound gives more yield at a particular time than dYdX; then, the protocol would automatically move the funds to Compound. Meanwhile, the user can claim their DAI tokens back anytime by returning yDAI to the protocol by paying a 0.5% withdrawal fee.
The Yearn ecosystem is controlled by its native , YFI. This is an token and serves as the platform’s cryptocurrency. Yearn Finance is a community-developed and community-driven platform governed by the YFI token. This means that the holders of the YFI token can submit and vote on the that govern and manage the whole ecosystem. To be enacted upon, a proposal needs more than 50% of the votes.
Yearn Finance was launched by in early 2020. Cronje is a South African entrepreneur and software developer. The project received no funding, and Andre kept no tokens for himself. In July 2020, the platform launched its governance token and cryptocurrency, YFI.
The YFI tokens can’t be , but users can earn YFI tokens by funds into the Balancer protocol of the project. This protocol receives the share of the trading fee collected from the platform. The users can earn this trading fee, in a percentage of the total funds present in the protocol, in the form of YFI tokens.
There are a total number of 36.6K YFI tokens circulating in the market. This is 100% of the total supply of the tokens. The community decides whether more tokens can be issued or not.
Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.
The price of 1 yearn.finance currently costs $6,648.91.
The current market cap of yearn.finance is $243.68M. A high market cap implies that the asset is highly valued by the market.
The all-time high of yearn.finance is $93,435.53. This all-time high is highest price paid for yearn.finance since it was launched.
Over the last 24 hours, the trading volume of yearn.finance is $17.93M.
The current circulating supply of yearn.finance is 37 thousand.
The median time that Coinbase customers hold yearn.finance before selling it or sending it to another account or address is 16 days.
yearn.finance ranks 78 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 84% of Coinbase users are buying yearn.finance. In other words, 84% of Coinbase customers have increased their net position in yearn.finance over the past 24 hours through trading.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.