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Yearn Finance reviews

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Decentralised exchange.

Open source code can be publicly reviewed.

Reviewed by Yunis
23 May 2023 (Updated 22 June 2024)

Yearn Finance Crypto Platform

Yearn Finance, founded by Andre Cronje, is a decentralized and open-source yield aggregator operating across multiple networks, including Ethereum, Fantom, Optimism, and Arbitrum. With notable figures backing the project and its reputation as a leading liquidity aggregator, Yearn Finance has become an innovative force in the crypto space, gaining attention when comparing different crypto exchanges. Andre Cronje is a well-known figure in the industry as he is among the founders of Fantom blockchain and currently holds a director role at the Fantom Foundation.

The platform features a user-friendly interface with a simple design, allowing anyone to easily connect to the protocol by clicking the "Connect Wallet" button located in the top right corner of the screen. Supporting popular wallets like MetaMask and WalletConnect, Yearn Finance ensures seamless integration for users. The platform provides a range of tools and features, including Vaults, yCRV, veYFI, and yBribe, catering to various investment and participation preferences.

One of the core offerings within Yearn Finance is the yVaults. These vaults operate as intelligent savings accounts for cryptocurrencies, employing sophisticated strategies to identify the most lucrative opportunities for maximizing the growth of users' digital assets. With the introduction of v2 yVaults, users now have the flexibility to utilize up to 20 different strategies simultaneously, ensuring efficient capital management and increasing the potential for higher yields. Additionally, the updated fee structure of yVaults offers transparency, with no additional fees imposed when withdrawing funds. Users can conveniently compare crypto yields using the platform's comparison tools, empowering them to make informed investment decisions. yVault is a successful tool to find the best yield in crypto

Another significant component of Yearn Finance is the yCRV system. Designed to tokenize the benefits of the veCRV position, the yCRV system consists of a base token called yCRV and three derivative tokens known as activated tokens. Through the base token, users gain access to the activated tokens, which provide rewards and benefits. This innovative system allows individuals to leverage their veCRV position and participate in various strategies, optimizing yield generation and enhancing the potential returns on their investments.

Furthermore, Yearn Finance introduced yBribe, a platform that enables vote-escrowed Curve (veCRV) holders to receive compensation for their voting power. By connecting users seeking to buy votes with those willing to sell them, yBribe facilitates the allocation of CRV rewards to different pools. This mechanism allows DAOs, protocols, and individual users to influence the direction of CRV rewards, thereby increasing yields in pools that align with their interests. Operating in a trustless, permissionless, and non-custodial manner, yBribe ensures a secure and transparent process for all participants. The platform's exclusion of Convex votes further enhances the efficiency of bribes, optimizing the overall experience.

While Yearn Finance has undergone audits by several independent firms, it is crucial to note that audits alone cannot guarantee the complete security of a decentralized finance application. Yearn Finance has experienced hacking incidents, resulting in the loss of over $10 million from its pools. These events serve as reminders of the importance of implementing robust security measures and exercising caution when engaging with decentralized finance platforms.

Despite the challenges faced, Yearn Finance continues to innovate and provide a diverse range of features and opportunities for users. Its position as a prominent player in the DeFi space, coupled with its commitment to yield optimization and active governance participation, makes Yearn Finance an attractive platform for crypto enthusiasts seeking to maximize their returns while staying engaged in the decision-making processes of the ecosystem.

Pros

tick $328,497,032 USD currently invested (TVL)
tick Investments in 100 coin pairs available
tick Supports 4 protocols including Arbitrum, Optimism and Ethereum

Cons

cross Has been hacked
cross Investments in liquidity pools can be higher risk
cross Liquidity pool investments are only suitable for advanced crypto users

Yearn Finance Staking Yields

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Columns
  Product Yield Chain Term Yield Yield Trend TVL TVL Trend
VAMMV2-RED-OP
1,588%
1,588% APY
Optimism
Instant Access
1,588%
1,588% APY
$20,304
CLEVETH-F
42.5%
42.5% APY
Ethereum
Instant Access
42.5%
42.5% APY
$19,696
JPEGPETH-F
40.2%
40.2% APY
Ethereum
Instant Access
40.2%
40.2% APY
$179,692
VAMMV2-USDC-VELO
39.5%
39.5% APY
Optimism
Instant Access
39.5%
39.5% APY
$150,389
CRVGEARETH-F
29.5%
29.5% APY
Ethereum
Instant Access
29.5%
29.5% APY
$212,265
VAMMV2-OP-VELO
29.3%
29.3% APY
Optimism
Instant Access
29.3%
29.3% APY
$66,023
CRVUSDETHCRV
27.2%
27.2% APY
Ethereum
Instant Access
27.2%
27.2% APY
$162,912
SAMMV2-DOLA-ERN
25.5%
25.5% APY
Optimism
Instant Access
25.5%
25.5% APY
$498,082
YCRV
25.5%
25.5% APY
Ethereum
Instant Access
25.5%
25.5% APY
$18,826,538
SAMMV2-DOLA-MAI
25.2%
25.2% APY
Optimism
Instant Access
25.2%
25.2% APY
$224,539
CVXCRV-CRV-F
23.4%
23.4% APY
Ethereum
Instant Access
23.4%
23.4% APY
$37,515
MSETHWETH-F
22.7%
22.7% APY
Ethereum
Instant Access
22.7%
22.7% APY
$57,155
HYUSDEUSD-F
22.6%
22.6% APY
Ethereum
Instant Access
22.6%
22.6% APY
$343,251
SAMMV2-USDC-MAI
22.1%
22.1% APY
Optimism
Instant Access
22.1%
22.1% APY
$892,496
VAMMV2-IB-WETH
21%
21% APY
Optimism
Instant Access
21%
21% APY
$65,106
SAMMV2-LUSD-ERN
18.1%
18.1% APY
Optimism
Instant Access
18.1%
18.1% APY
$590,951
VAMMV2-USDC-WUSDR
17.6%
17.6% APY
Optimism
Instant Access
17.6%
17.6% APY
$1,022,503
VAMMV2-USDC-SNX
16.3%
16.3% APY
Optimism
Instant Access
16.3%
16.3% APY
$478,256
CRVUSDGUSD-F
16.2%
16.2% APY
Ethereum
Instant Access
16.2%
16.2% APY
$76,620
CRVCRVUSDTBTCWSTETH
15.4%
15.4% APY
Ethereum
Instant Access
15.4%
15.4% APY
$1,073,362
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Yearn Finance YouTube Reviews

Yearn Finance Scams, Frauds, Hacks and Blunders

13 Apr 2023

Yearn Finance Supported Currencies

Yearn Finance supports over 50 currencies including Ethereum, Tether USDt, Optimism and Lido DAO.

Yearn Finance Key Data

Company
Decentralised tick Yes
Open source tick Yes
Products
Savings accounts tick Yes
Loans cross No
Crypto to crypto exchange cross No
Margin trading cross No
Futures exchange cross No
DEX aggregator tick Yes
Chain agnostic cross No
Security
Know your customer cross No
Credit check cross No
Investment Strategy
Liquidity pools tick Yes
DeFi products tick Yes
Unsecured loans cross No
Key People
Andre Cronje
Founder

Useful Links

Yearn Finance Contact Details

https://yearn.finance/#/portfolio

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