Yearn Finance (YFI): A DeFi Money MACHINE!
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– TIMESTAMPS –
1:51 What is Yearn Finance?
3:33 Yearn Finance History
6:18 Earn & Vaults
10:14 APR, Zap & Cover
12:40 YFI Token Overview
15:26 YFI Bull Case
18:20 YFI Tokenomics & Price
⛓️ 🔗 Useful Links 🔗 ⛓️
► Yearn Finance Website: https://yearn.finance/
► Yearn Docs: https://docs.yearn.finance/
► Yearn Blog: https://medium.com/iearn
► Learn Yearn: https://www.learnyearn.finance/
► Maple Leaf Capital: https://twitter.com/MapleLeafCap/status/1292230400857837574
📝 What is Yearn Finance? 📝
It is a yield aggregator built on the Ethereum network that is able to maximise yield by dynamically allocating liquidity to a number of different DeFi protocols.
Its an Ethereum dApp that automatically allocates supplied liquidity to different pools in the DeFi ecosystem. It can be seen as an automated Yield Farming protocol that searches the market for the best return opportunities and supplies the pooled liquidity to said opportunities.
What’s really genius about Yearn Finance is that it opens up the complicated yield farming strategies to your average crypto user.
💭 Yearn History 💭
It was started by one South African chap called Andre Cronje. You see, Andre is a self taught software developer who was building his own defi yield optimisation strategies earlier this year.
When yEarn was started, Andre did not keep any of the YFI tokens for himself. There was no team allocation or pre-mine. It was a 100% fair distribution to those who first got involved. This is very “bitcoin-esque” and it’s no doubt a compelling selling point for the YFI tokens.
Andre has constantly been innovating the strategies as the lead developer on the protocol. This includes the recent rollout of Yearn Finance V2.
📈 Features 📈
Earn is a yield aggregator for lending platforms that rebalances for highest yield during contract interaction.
So basically, you will deposit any one of these stablecoins and it will auto lend to the highest lending rate on these platforms: Compound, DyDx, or Aave.
Vaults are a combination of some of the more advanced yield farming strategies. Technically, vault strategies are modular smart contracts for each vault that tells it what assets to borrow, which coins to farm, and where it should sell the farmed assets.
APR is basically just an overview of the annual return on some of the yearn supported tokens across the various lending pools.
The Zap feature will allow you to convert yearn supported tokens quickly and with a reduction in transaction costs.
The “Cover” feature will allow users to take out smart contract insurance and hence protect themselves from any sort of black swan events that could see them lose their locked up funds.
💸 YFI Token 💸
YFI is a governance token that allows for the decentralized control of the Yearn ecosystem. YFI was released through rewards to early users on the Yearn Finance platforms. There was no premine and there were no VC investors.
The entire 30,000 YFI supply was released in one go and made available to those who were providing liquidity.
The other YFI use case is in order to stake and earn those returns on YFI they place in order to vote. These staking returns are those funds generated on Yearn Finance that are not being used in order to fund the treasury.
⚡️ Tokenomics ⚡️
There is a 30,000 token supply which means that it has one of the lowest
Yearn finance is able to generate fees in two ways. One is through vault withdrawal fees (0.5%) and the other is through a gas subsidization fee (5%).
So, once these fees are charged, they are sent to the Yearn Treasury. However, once that 500k USD buffer is reached then the additional fees generated above this are sent to that YFI staked governance pool.
So just from that, once the treasury is funded, you have a protocol that generates large amounts of fees for those who hold a stake in it. The more that people use Yearn finance, the more funds locked up in those contracts and the more fees that are generated for the treasury or governance pool.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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