Yearn.finance News

Yearn.finance is an emerging decentralized finance (DeFi) protocol. It offers its services entirely through code, distancing itself from the need for a middleman like a bank or custodian. To achieve this, it has created a system of automated incentives around its YFI cryptocurrency.

Andre Cronje, an independent developer, launched Yearn.finance in 2020. Notably, before the launch of Yearn.finance, Cronje did not set aside any tokens for himself or raise any money for the Yearn.finance protocol. The Yearn.finance platform introduced its own cryptocurrency, YFI, in July 2020. Through lending and trading services, the Yearn.finance collection of protocols, which are based on the Ethereum blockchain, enables users to maximize their revenues from crypto assets. 

The Yearn.finance platform consists of several independent products, including APY, Earn, Vaults and Zap. By using the Yearn.finance platform to run Yearn.finance contracts on the Balancer and Curve DeFi trading platforms (a practice known as yield farming), users can earn YFI tokens. Users receive tokens from the protocols in proportion to the number of assets they lock into a platform.