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Difference between revisions of "Yearn Finance"
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Yearn Finance (YFI) is a decentralized finance protocol which began in early 2020 under the name iEarn Finance which was maintained by [[Andre Cronje]]. Originally iEarn Finance was a series of yield bearing tokens which rebalanced to the lending markets with the highest yield (usually [[Aave|AAVE]] or [[Compound]])<ref>https://thedefiant.io/what-is-yearn-finance/</ref>. During [[DeFi Summer|DeFi summer]], the protocol released a fair-launched governance token called [https://www.coingecko.com/en/coins/yearn-finance YFI] and rebranded to Yearn Finance. The launch is credited to have birthed the concept of Pool 2<ref>https://www.coindesk.com/markets/2020/12/08/andre-cronje-defi-expressionist/</ref>, it took place on [[Curve Finance]] and [[Balancer]]. Today the protocol is maintained by various independent developers and contributors of the Yearn DAO and it is governed by $YFI holders. | Yearn Finance (YFI) is a decentralized finance protocol which began in early 2020 under the name iEarn Finance which was maintained by [[Andre Cronje]]. Originally iEarn Finance was a series of yield bearing tokens which rebalanced to the [[lending markets]] with the highest yield (usually [[Aave|AAVE]] or [[Compound]])<ref>https://thedefiant.io/what-is-yearn-finance/</ref>. During [[DeFi Summer|DeFi summer]], the protocol released a fair-launched governance token called [https://www.coingecko.com/en/coins/yearn-finance YFI] and rebranded to Yearn Finance. The launch is credited to have birthed the concept of Pool 2<ref>https://www.coindesk.com/markets/2020/12/08/andre-cronje-defi-expressionist/</ref>, it took place on [[Curve Finance]] and [[Balancer]]. Today the protocol is maintained by various independent developers and contributors of the Yearn DAO and it is governed by $YFI holders. | ||
The current user-facing core product of Yearn is yVaults, which provides automated yield generation to many different crypto assets, each driven by one or more Strategies. | The current user-facing core product of Yearn is yVaults, which provides automated yield generation to many different crypto assets, each driven by one or more Strategies. | ||
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* A yVault may have many strategies active at the same time. A yVault may change its strategies capital allocation when it deems necessary | * A yVault may have many strategies active at the same time. A yVault may change its strategies capital allocation when it deems necessary | ||
* Unlike many other yield aggregators there are no deposit/withdrawal fees charged to the user | * Unlike many other yield aggregators there are no deposit/withdrawal fees charged to the user | ||
* yVaults tokens implement the ERC20 standard, this means that they can be easily moved between wallets and markets and can be used by any app that communicates with this standard (like decentralized exchanges) | * yVaults tokens implement the [[ERC20]] standard, this means that they can be easily moved between wallets and markets and can be used by any app that communicates with this standard (like [[decentralized exchanges]]) | ||
== Strategies and Strategists == | == Strategies and Strategists == | ||