Loans provided to users are overcollateralized whilst approved loans provided for protocols are zero-collateral.Īnother function, APY (Annual Percentage Yield), is a database displaying different interest rates from the lending protocols that provide users with estimates for how much annual interest they can expect to earn. Iron Bank is a lending service for users and protocols. The auto-compounding feature reduces costs, and instead of paying a transaction fee when manually compounding yield, yVaults combines your transactions with many other depositors meaning the cost per depositor is reduced. YVaults does not charge a deposit or withdrawal fees however it does charge a 20% performance fee and 2% management fee. The deposits can be moved through rebalancing, shifting capital and auto-compounding, with the goal being to seek out the highest possible returns from other DeFi projects. A user’s deposit is then routed through the strategies whilst guardians and strategists monitor them. Users deposit crypto assets into yVaults, with yVaults consisting of up to 20 strategies per vault. yVaults, the most complex product, acts in a similar way to actively managed mutual funds. Notably, Yearn.finance has several key products. What are Yearn.finance’s key features and how does it work? In its first month following the launch, the yearn.finance platform attracted almost $800 million in assets, making it a very fast-growing DeFi project. Yearn.finance was created in 2020 by independent developer Andre Cronje and its native currency, the YFI token, launched in July 2020. Since Yearn.finance provides its services via smart contracts, it can guarantee that the code will work as written and remove the need for a third party to verify transactions, reducing costs and time. The core products designed to do this include yVaults, Earn and Iron Bank. It runs on the Ethereum and Fantom blockchains and it was created with the primary goal of allowing users to maximize earnings on their crypto assets through creating simpler, cheaper and more efficient lending and trading processes. Yearn.finance is a DeFi project that provides a range of financial products across its platform.
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