1/13/2024 0 Comments Yearn finance yfi news![]() In times of high transaction fees, it can easily cost a user an average of $50-100 (and lots of time) to actively maintain a yield farm. The idea with both Vaults and Earn is to pool funds to accomplish a number of tasks.įirstly, by pooling and farming with a single collection of funds, transaction fees can be greatly reduced. While similar in concept, Vaults supports a wider range of cryptocurrencies and uses more complex yield farming “strategies” to earn yields for users. The funds in that pool are then switched between top lending protocols to maximize returns. ![]() Users can deposit stablecoins or other supported cryptocurrencies into a pool. Yearn.finance solves these issues and more through its core products, Vaults and Earn.Įarn is a product focused on stablecoins. There are two issues here: 1) those that are using DeFi on their own are seeing their profits being eaten at by transaction fees, and 2) many existing yield farmers do not know how to properly assess the risks in using smart contracts. But at its core, it is a yield aggregator.Īlthough yield farming has gained much traction, there remain many that lack the expertise and time to involve themselves in this sometimes-complicated space.Ī CoinGecko survey of crypto investors found that 40% of “yield farmers,” as DeFi users have branded themselves, do “not know how to read smart contracts and the associated risks.” Also, 52% of farmers put up “less than $1,000 in capital” to farm with. Yearn.finance is rapidly evolving into a full-stack, Ethereum-based DeFi protocol with a series of products and sub-tokens.
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