Yearn is built on top of Ethereum, Arbitrum, and Fantom blockchains. It has been overtaken by other platforms like Lido, Maker, and Compound. According to DeFi Llama, Yearn Finance has a TVL of about $660 million. Recently, however, the platform has lost steam as the number of people using it to grow their wealth has fallen. At its peak, Yearn had a total value locked (TVL) of over $6 billion, making it one of the biggest platforms. The platform simply enables people to earn returns from their cryptocurrencies. Cronje is also credited for creating platforms like Wonderland and Abracadabra. It was established by Andre Cronje, a leading player in the industry. Yearn Finance is one of the oldest blockchain projects in the decentralized finance (DeFi) industry. It has jumped by about 172% from the lowest level this month, bringing its total market cap to over $358 million. Yearn Finance rose to $11,350, which was the highest point since May 12th of this year. (Description provided by CryptoCompare.YFI price rose for five straight days as investors bought the dip in DeFi cryptocurrencies. The members of the multi-signature wallet were voted in by YFI holders and are subject to change from future governance votes. Changes must be signed by 6 out of the 9 wallet signers in order to be implemented. Proposals that generate a majority support (>50% of the vote) are implemented by a 9 member multi-signature wallet. Cover is underwritten by Nexus Mutual.Governance:The Yearn ecosystem is controlled by YFI token holders who submit and vote on off-chain proposals that govern the ecosystem. Alternatively, users can "Zap" out of these two Curve pools and into one of the five base stablecoins.Cover:Insurance that enables users to obtain coverage against financial loss for various smart contracts anor protcols on the Ethereum blockchain. Currently users can use five stablecoins (BUSD, DAI, USDC, USDT, TUSD) and "Zap" into one of two pools (y.curve.fi or ) on Curve. These pools benefit from the lending aggregators discussed above, as well as earning users trading fees by partcipating as Liquidity Providers (LPs) on Curve.Fi. Users can deposit to these lending aggregator smart contracts via the Earn page.Zap:A tool that enables users to swap into and out of (known as "Zapping") several liquidity pools available on Curve.Finance.
Funds are shifted between dYdX, AAVE, and Compound automatically as interest rates change between these protocols. Vaults benefit users by socializing gas costs, automating the yield generation and rebalancing process, and automatically shifting capital as opportunities arise.Earn:The first Yearn product was a lending aggregator. The protocol is maintained by various independent developers and is governed by YFI holders.Core Products:Vaults:Capital pools that automatically generate yield based on opportunities present in the market. Yearn Finance is a suite of products in Decentralized Finance (DeFi) that provides lending aggregation, yield generation, and insurance on the Ethereum blockchain. 7 Dividend Stocks That Earn 10% Every Month.7 Dividend Aristocrats to Help You Take the Bite Out of the Bear.10 Recession-Proof Stocks That Will Let You Wait Out the Bear.
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