Yeti Finance is a decentralised borrowing protocols built on Avalanche. It allows users to mint the over-collateralized YUSD stablecoin using assets from their portfolio as a collateral. To maintain the peg 1 YUSD is always backed by $1.1 in collateral and can be redeemed for $1 worth of it at any time.
Yeti builds off the Liquity mechanism and model but instead of allowing borrowing only against ETH it lets users use wide variety of assets as a collateral. In addition to base assets like AVAX and stablecoins borrowers can deposit LP and interest-bearing tokens (e.g., qiAVAX, sJOE).
As Yeti Finance doesn't change interest rates on loans, the protocol makes money charging a one-time fee on deposits and borrows. Combined with support for interest-bearing collateral this allows for self-repaying loans.