Yearn.fi · About

Yearn.finance is a decentralized finance (DeFi) platform built on the Ethereum and Fantom blockchains, designed to maximize users' crypto asset earnings through streamlined lending and trading. Its core products, including yVaults, Earn, and Iron Bank, utilize smart contracts to automate processes, reduce costs, and eliminate the need for intermediaries. Created in 2020 by Andre Cronje, Yearn.finance quickly gained traction, attracting nearly $800 million in assets within its first month. Key features include yVaults, which function like actively managed funds, automatically rebalancing assets across various DeFi strategies to optimize returns. Users deposit assets into yVaults and are charged a 20% performance fee and 2% management fee. Iron Bank provides lending services with varying collateral requirements. The platform also offers an APY database displaying interest rates and the Zap feature, which streamlines deposits into yVaults. The YFI token governs the platform, allowing holders to vote on proposals and earn rewards through yield farming. Yearn.finance is primarily used for lending and trading cryptocurrencies.