Yearn Finance News

Daily Yearn Finance ecosystem news. Daily updates on Yearn Finance news, apps and hacks.

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Shell Protocol Jumps into ‘Concentrated Liquidity’ Just Like Uniswap and Curve

When decentralized exchanges started to take off in 2019, the designs were very simple, but simplicity in these marketplaces might soon be a distant memory. The most successful category of decentralized exchanges are the automated market makers (AMMs), such as Uniswap and Curve. The Cowri Labs team, builders of the Shell Protocol, a small AMM …

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Yearn Finance Launches on Red Hot Fantom and Goes Multichain

The yield aggregator, Yearn Finance announced last night that it has gone live on Fantom and incorporated the blockchain into the new version of its user interface. “The Realm of Multichain beckons. And Yearn has heeded the call,” Vany, a Yearn Discord admin, said in the announcements channel. “Today, we go multichain with the launch …

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DeFi Powerhouses Curve and Aave Deploy on Avalanche to Profit from Incentives

Incentives work. Or at least they do in terms of wooing DeFi protocols to deploy on other blockchains.  Case in point, Curve Finance, the automated market maker, and Aave, the leading DeFi lending project, have each deployed their offerings on Avalanche as a part of the blockchain’s $180M incentive program called Avalanche Rush.  It’s the …

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Liquidity Mining Set to Begin Friday on the Risk Tranching Gro Protocol

Everyone is looking for stronger yields in DeFi. Gro is a new yield platform that aims to offer boosted returns on leading stablecoins to users willing to accept some risk. Gro is set to launch liquidity mining shortly for its depositors, which means they will begin receiving its governance token, GRO, based on the funds …

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DAOs Accelerate Token Swaps in Push to Diversify Their Treasuries

DeFi DAOs have made some serious cash in 2021 — but generally only in their native tokens. Now they’re looking to diversify. Fueled by a combination of rising token prices and an explosion in fee revenues as DeFi continues to attract new users, the decentralized autonomous organizations (DAOs) that act as a management layer for …

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Crypto is Hungry for a Political Leader From its Own Ranks

The blockchain industry is ready for one of its own to join the U.S. Congress, whether it’s Messari founder Ryan Selkis or someone else. That’s judging by reactions on the floor of Messari’s conference, Mainnet 2021, taking place at the Marriott Marquis in Manhattan this week. Yesterday Selkis said he was going to run for …

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Yearn Finance Backs Atlantis World to Draw Degens Into the Metaverse

What’s the answer to make decentralized finance more fun and immersive than its current incarnation of websites and bulletin boards? Apparently it’s community environments reminiscent of video games played on 1990s-era consoles. That at least is the bet DeFi portal Yearn Finance is making with its latest grant to Atlantis World. The company makes two-dimensional, …

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Defiant Degens: How to Earn Up to 16.5% Interest with Stablecoins on Orion Saver

This is a weekly tutorial on the most compelling opportunities in yield farming, written by our friend DeFi Dad, an advisor to The Defiant and Head of Marketing and Portfolio Support at Fourth Revolution Capital.  Disclaimer: All opinions expressed by DeFi Dad are solely his own opinion and do not reflect the opinion of 4RC …

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YFI at One. Remembering One Hell of a Year.

$YFI at One. Remembering One Hell of a Year.

YFI launched in 2020 as one of the most memorable DeFi protocols ever with its fair launch, tiny token supply and reluctant anti-hero Andre Cronje as a pivotal figure in just doing things differently. Since then $YFI has suffered hacks, merged, purged, grown, shrunk but above all endured as a genuinely decentralized home for those …

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Yearn Revenues Projected to Surpass TradFi’s Fueled By Thriving Community

On-Chain Markets Update by Lucas Outumuro, IntoTheBlock Yearn Finance is quickly turning into an asset management behemoth. Propelled by its thriving community, Yearn’s fundamentals are looking stronger than its traditional finance counterparts.   After recently hitting a new all-time high of $5 billion+ in TVL, Yearn also broke its highest monthly revenues.  Making over $10 million …

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Synthetic Exchange Declares Independence with Own Token

Kwenta, an exchange interface for Synthetix’s derivatives, has declared itself an “independent project operating outside of the Synthetix core contributors,” according to an announcement post. The project will also issue a token, KWENTA, that will be used to participate in governance and to “bootstrap the community and fuel an early development team.” It’s a sign …

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Curve Picks up Mojo as Battle Breaks Out for its Red Hot Token

Curve Finance is on a roll. Both Yearn Finance and Convex Finance are making Curve Finance’s CRV token a key part of the foundation in their revenue models. Users who lock in CRV receive governance rights, trading fees from the automated market maker, and boosted rewards. Curve War The development is no small thing for …

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Yearn Proposal to Buy Ether Picking up Mojo

Yearn Finance users have sent a clear message — buy more Ether. More than 82% of voters in Yearn’s online poll have urged the platform to accumulate more of Ethereum’s ETH and strike a better balance with its native token, YFI.  The poll supports buying Ether as an extension of Yearn’s Buyback and Build proposal …

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Yearn Finance Ecosystem Breakdown –– Pushing the Boundaries of Human Coordination

Yearn Finance surprised the DeFi world late last year when the project announced a flurry of mergers with Cream, Pickle, SushiSwap, Akropolis, and Cover in the span of a week. While the Cover merger ended, the remaining teams continue to collaborate at top speeds enabled by the shared goal of capital efficiency, belief in Yearn’s …

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Yearn Finance Seizes Dip and Buys Back $1.47M of YFI Token

DeFi gateway Yearn Finance is buying its own YFI token dip.  In accordance with mandates in Yearn-Improvement-Proposal 56 (YIP-56), the protocol uses YFI staking rewards to buy back the token and “use bought back YFI for contributor rewards and other Yearn initiatives.”  As such, Yearn Finance periodically buys back its own tokens, recently announcing a …

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Yearn Finance Q1 Report Reveals Rising Profits Thanks to Vaults and Yield Farming

Yearn Finance said in its second-ever quarterly report, and first using the EBITDA accounting metric, that earnings in Q1 2021 were up 32% of all 2020 earnings, a period which spanned the five months since the protocol’s inception last year. The report offers a glimpse into the business model of a DeFi project that’s not …

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Cover Protocol Token Dives After Yearn Breakup

Yearn Finance and Cover are splitting ways after announcing a merger back in November. The reasons behind the break-up haven’t been disclosed, but Yearn’s creator, Andre Cronje, has made one thing clear: it’s not amicable. Lost Trust Originally, Yearn—which specializes in lending aggregation, yield generation, and insurance—had partnered with peer-to-peer insurance lending protocol Cover with …

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Yearn Raises Dai Vault Limit as Alchemix Deposits Surge

Deposits in Yearn Finance’s DAI vault are rising after synthetic assets protocol Alchemix started using Yearn for its backend last week.  Alchemix deposits quintupled to almost $130M from less than $25M on Feb. 27, when the protocol launched. The surge pushed Yearn to raise its Dai vault limit to 300M from 100M. The move shows …

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Yearn Hack Sparks $1.7M DeFi Insurance Claim Controversy

Last week’s Yearn Finance hack has a DeFi user wrestling with an insurance protocol over a $1.7M claim. Twitter user kferretcrypto, who bought a claim provided by Nexus Mutual, an insurance protocol, in September, tweeted on Feb. 6 that the Yearn hack triggered a 1,000 Ether payout (or about $1.7M), by ArmorFi, an insurance aggregator …

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Yearn Restores yDAI Vault and Compensates Hack Victims

Yearn Finance, the yield aggregator protocol which suffered the first major hack of 2021 last week, is healing, making its Dai savings smart contract available to users again, and compensating victims of its recent hack. Yearn has restored its yDAI vault and returned $9.7M in DAI funds to users who had their stablecoins deposited in …

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Yearn Loses $11M in 2021’s First DeFi Hack

Yearn Finance, the yield aggregation protocol founded by Andre Cronje, has been hacked. One of the platform’s so-called vaults lost $11M, and the attacker got away with $2.8M.   It’s the first DeFi hack of the year, after $100M worth of attacks in the sector last year, according to a report by Ciphertrace. About half of …

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