Yearn Finance
Yearn Finance

Yearn Finance

Yearn Finance is a "deposit your crypto here and we'll go farm it for you to get you the best returns" — hands off money manager if you will.

Quality Check:

✅ Audited

✅ Active community

✅ Active team

✅ Billions $$ of liquidity

✅ Decentralized, DAO

Community Links:

👉 Yearn website

👉 Yearn twitter

👉 Yearn token

👉 Yearn founder

👉 Yearn docs

image

Why Use Yearn Finance? 🤔

  • It's a free crypto money manager.
  • Kind of like a hedge fund. (pooled funds)
  • Yearn uses DeFi apps and yield farming strategies to maximize user's returns for them.
  • Since its algorithms that move your funds around = robot money manager.
  • Yearn supports many assets from stable coins to ETH.
  • Yearn also maximizes any deposits you have in the Curve

Why Crypto Mutual Funds? 🤔

  • People pay good money in the real world to be included in hedge funds with good track records.
  • Instead of keeping up with DeFi and farming strategies, let mutual funds do that for you.

How Does It Work? 🤔

image
  • Yearn offers vaults for different crypto assets (i.e DAI vault, ETH vault...)
  • Each vault has 1 or more yield farming strategies to earn $$$.
  • Strategies use other DeFi apps to lend, farm tokens, and maximize each vault's holdings.
  • Yearn charge a 2% management fee, and 20% on all profits a vault generates for you.

What Is The $YFI Token Used For?

  • $YFI is an ethereum based token which holds voting power in the Yearn Finance governance.
  • Changes to the protocol are voted on by $YFI holders.

image

WTF is $WOOFY coin?

  • The community heard the complaints that the main Yearn Finance token $YFI seemed "too expensive" for someone to own a meaningful amount.
  • So a derivative of the main coin was made, in the form of a derivative token called "WOOFY".
  • 1 WOOFY can be scooped up for just pennies, but its value is forever tied to $YFI.
  • WOOFY's price is fixed to that of $YFI, at a rate of 1 YFI = 1,000,000 WOOFY
  • Anyone can redeem their WOOFY for $YFI, or vice versa using THIS WEBSITE.
image

Stand-Out Features?

  • Has vaults for many crypto assets and adding more.
  • Auto Compounds your Curve Liquidity Provider positions to boost Curve rewards.
  • Is decentralized (DAO) so strategies and changes are managed by the community.

What Are The Risks Of Using Yearn?

  • Bugs, exploits in the smart contracts, are always possible.