But the returns from Yearn are still quite high. Early users of the platform reported gains of over 2,000% APY. Because interest rates can fluctuate a lot in DeFi based on liquidity, Yearn uses blockchain-based pricing oracles to automatically move your investment to maintain ROI.īy bringing all of the other major DeFi protocols based on the Ethereum network like Compound and Aave under one roof, Yearn optimizes token lending to get you higher returns. Yearn is designed to help you make more money with your stablecoins by automatically diversifying through multiple DeFi protocols. Yearn founder, Andre Cronje’s, goal was to simplify the user experience and safety of DeFi protocols. In our Yearn.Finance coin review, we’ll discuss what you need to know about probably THE most popular platform in DeFi and it’s native crypto, YFI. Yearn protocol got so big because it solves probably the biggest problem with DeFi: Maintaining high returns on your crypto in a market that is constantly fluctuating based on liquidity. This has naturally spiked the attention of investors around the world. As of August 2020, there was $650 million staked in the Yearn protocol.Īnd with only about 30,000 YFI coins currently in circulation, the Yearn token price has skyrocketed to roughly $22,000 a coin giving even modern BTC a run for the money. Since its founding in February 2020, Yearn.Finance has grown exponentially with the rise of DeFi. Buy or borrow against YFI on M圜onstant best margin prices on the market.
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