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Yeti Finance reviews

Decentralised exchange.

Open source code can be publicly reviewed.

Reviewed by Yunis
17 May 2023 (Updated 25 May 2024)

Yeti Finance Crypto Platform

Yeti Finance is a decentralized cross-margin undercollateralized lending protocol built on the Avalanche network. The platform, Yeti Finance, aims to provide transparent and secure lending services to users in the cryptocurrency space. While information about the founders and team members is not readily available, Yeti Finance prioritizes transparency through its open-source nature, making its source codes accessible on GitHub.

Partnerships and backers play a crucial role in establishing credibility for crypto lending platforms, and Yeti Finance has garnered support from notable entities such as Ava Labs, GBV Capital, and Trader Joe's, as indicated by the information available on the pitchbook.com website.

One of the standout features of Yeti Finance is its offering of borrowing, pooling, and staking tools for users. Through cross-margin borrowing, users can collateralize their assets and borrow up to 21 times the value of their collateralized tokens. A unique aspect of Yeti Finance is that LP (liquidity provider) tokens can also be utilized as collateral. These LP tokens generate yields, which are shared with farming and staking depositors, adding an additional earning potential for users.

However, the high leverage allowed by Yeti Finance's borrowing model does raise questions about the platform's solvency. The ability to engage in such highly leveraged loans presents inherent risks within the crypto finance realm.

Yeti Finance prides itself on providing a user-friendly web app that caters to individuals with basic knowledge of cryptocurrencies. The platform offers seamless connectivity through supported popular wallets like MetaMask, Coinbase Wallet, and WalletConnect. Notably, Yeti Finance emphasizes decentralization and does not require any KYC (Know Your Customer) or background checks, enhancing user privacy and accessibility.

In terms of security, Yeti Finance has not experienced any hacks or exploits thus far. However, it is important to bear in mind that Yeti Finance is a relatively new player in the decentralized finance landscape, and risks associated with investing in high-yield crypto projects should not be overlooked. Users should exercise caution and only invest amounts they can afford to lose, considering the nascent nature of the technology and the potential vulnerabilities that even audited projects may face.

While Yeti Finance provides several audit reports on its website, it is worth noting that audits alone do not guarantee immunity from hacking attempts or exploits. The history of the crypto space has seen instances where projects with seemingly solid audit reports have fallen victim to security breaches.

In conclusion, Yeti Finance operates as a DeFi platform utilizing a two-token system: $YETI and $YUSD. The stablecoin $YUSD is collateralized and pegged to the USD, while $YETI serves as the protocol token with future governance functionalities. Users can stake $YETI to earn additional tokens and veYETI, which provides utility for boosting rewards and borrowing. The distribution of tokens includes allocations for community incentives, team members, the foundation, and strategic partners. The emission schedule entails higher rates initially to bootstrap the protocol, followed by a consistent monthly emission rate. These emissions are directed towards Curve liquidity, stability pools, and Trader Joe pools.

Pros

tick $11,353,952 USD currently invested (TVL)
tick Investments in 16 coin pairs available
tick Operating on Avalanche C-Chain protocol

Cons

cross Over-collateralized loans
cross Investments in liquidity pools can be higher risk
cross Liquidity pool investments are only suitable for advanced crypto users

Yeti Finance Staking Yields

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Columns
  Product Yield Chain Term Yield Yield Trend TVL TVL Trend
ASAVAX
9.52%
9.52% APY
Avalanche C-Chain
Instant Access
9.52%
9.52% APY
$11,484
QISAVAX
8.85%
8.85% APY
Avalanche C-Chain
Instant Access
8.85%
8.85% APY
$547,171
SAVAX
5.76%
5.76% APY
Avalanche C-Chain
Instant Access
5.76%
5.76% APY
$156,735
YUSD
3.32%
3.32% APY
Avalanche C-Chain
Instant Access
3.32%
3.32% APY
$414,294
QIUSDTN
2.77%
2.77% APY
Avalanche C-Chain
Instant Access
2.77%
2.77% APY
$1,157,365
QIUSDCN
2.55%
2.55% APY
Avalanche C-Chain
Instant Access
2.55%
2.55% APY
$206,673
AUSDT
2.51%
2.51% APY
Avalanche C-Chain
Instant Access
2.51%
2.51% APY
$4,420,645
ADAI
2.22%
2.22% APY
Avalanche C-Chain
Instant Access
2.22%
2.22% APY
$78,938
AUSDC
2.19%
2.19% APY
Avalanche C-Chain
Instant Access
2.19%
2.19% APY
$4,274,912
QIUSDC
1.72%
1.72% APY
Avalanche C-Chain
Instant Access
1.72%
1.72% APY
$45,728
QIDAI
1.52%
1.52% APY
Avalanche C-Chain
Instant Access
1.52%
1.52% APY
$339,845
SJOE
1.45%
1.45% APY
Avalanche C-Chain
Instant Access
1.45%
1.45% APY
$396,377
AWETH
0.42%
0.42% APY
Avalanche C-Chain
Instant Access
0.42%
0.42% APY
$23,894
QIBTC.B
0.38%
0.38% APY
Avalanche C-Chain
Instant Access
0.38%
0.38% APY
$315,250
QIETH
0.32%
0.32% APY
Avalanche C-Chain
Instant Access
0.32%
0.32% APY
$21,503
ABTC.B
0.17%
0.17% APY
Avalanche C-Chain
Instant Access
0.17%
0.17% APY
$288,708
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Yeti Finance Key Data

Company
Decentralised tick Yes
Open source tick Yes
Products
Savings accounts tick Yes
Loans tick Yes
Crypto to crypto exchange cross No
Fiat to crypto exchange cross No
Pro exchange marketplace cross No
Peer to peer exchange cross No
Margin trading cross No
Futures exchange cross No
Chain agnostic cross No
Investment Strategy
Liquidity pools tick Yes
DeFi products tick Yes

Useful Links

Yeti Finance Contact Details

https://yetifinance.co/

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