Connect with us

Crypto News

Crypto Comics – What is Yearn Finance

Published

on

cryptobite

I tried to explain what Yearn Finance is in comic strips.

TL;DR

I explained what Yearn Finance is.

Some Takeaway

Yearn Finance is a suite of products in Decentralized Finance (DeFi). It provides a range of tools through yield generation, lending aggregation, and more ways to generate profits for investors. Yearn runs independently and maintains through various independent developers. The governance is a DAO governing way with holders to join and vote for its future. Yearn Finance is more than just a community-driven robo-adviser for yield. It is a DeFi toolbox to help people pick and choose many products. The goal of Yearn is to create an intuitive and easy way for investors to join and participate.        

Vaults

Yearn’s vault is a DeFi robo-advisor for yield. A capital pool that automatically generates yield based on opportunities present in the market. It is a passive investment strategy to spread risks to everyone who participates and helps everyone to yield from their investments. 

Governance

The Yearn governance process is a DAO process. Everyone who is a token holder can participate to submit and vote proposals through an on-chain process. The proposal will pass through a majority vote with 9 members who possess signatures through a multi-signature wallet with more than 6 out of 9 signatures to implement such an approved proposal.   

Yearn Finance v2

Yearn Finance v2 takes a step further. With the more customized design, users can adjust their yield through 3 main components: yVaults, Controller, and Strategies.

yVaults

yVaults are token containers with various tokens inside. Rather than using a single token type, yVaults can provide various token types including LINK, LEND, REN, SNX, and wBTC.  

Controller

It is a control mechanism that is managed by governance. As the governance will be selected with the highest yield strategies per each vault basis.

Strategies

Anyone can submit strategies and it will perform as an additional function to generate more rewards along with the core function. If your strategy has been selected, you will be rewarded with your strategy accordingly.

In conclusion

There are many other exciting products in Yearn Finance. It makes DeFi more accessible to everyone who wants to participate. 

Check out my other article

Crypto Comics – What is DeFi-2

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto News

Will Madeira Become Bitcoin Paradise? – Bitcoin Magazine

Published

on

Will Madeira Become Bitcoin Paradise? - Bitcoin Magazine


This is an opinion editorial by Joe Nakamoto, a pseudonymous Bitcoin traveler and reporter who helped create a recent documentary on Madeira’s Bitcoin adoption.

What is a Madeira? Why do Bitcoiners keep talking about it? Does it come with fries? And why did Pleb Music (aka, Max DeMarco) shoot a Bitcoin documentary on this tiny island?



Source link

Continue Reading

Crypto News

Investors Pump Money Into Crypto Funds Amid Pickup in Market Sentiment

Published

on

Investors Pump Money Into Crypto Funds Amid Pickup in Market Sentiment



Multi-asset investment products saw outflows for the ninth consecutive week, worth $6.4 million. “This suggests investors are preferring select investments. This was evident in alts such as Solana, Cardano and Polygon while Bitcoin Cash, Stellar and Uniswap all saw minor outflows,” said the report.



Source link

Continue Reading

Crypto News

UK regulator investigates charity linked to FTX

Published

on

UK regulator investigates charity linked to FTX



The commission in charge of regulating registered charities in England and Wales has announced it had begun investigating Effective Ventures Foundation, an organization tied to bankrupt crypto exchange FTX.

In a Jan. 30 announcement, the Charity Commission said it had launched the inquiry due to FTX being a “significant funder” of Effective Ventures. According to the commission, Effective Ventures reported its ties to FTX as a “serious incident” potentially affecting other assets, opening the door for the regulator to investigate its trustees.

“There is no indication of wrongdoing by the trustees at this time,” said the commission. “However, there are indications of potential risks to the charity’s assets, and the inquiry has been opened to establish facts and help ensure the trustees protect the charity’s assets and are running the charity in line with their duties and responsibilities.”

The Charity Commission reported that the trustees were “cooperating fully” as part of the investigation, and it will release a report on its findings. The regulator opened the inquiry on Dec. 19 — after FTX had filed for Chapter 11 bankruptcy in the United States and former CEO Sam Bankman-Fried was arrested in the Bahamas.

Related: Sam Bankman-Fried seeks to access FTX funds

In the United States, charitable organizations that previously benefited from FTX funds have reportedly been targeted amid the exchange’s bankruptcy proceedings — the firm made millions of dollars in donations to various groups and causes. Many political campaigns have pledged to return funds tied to FTX or Bankman-Fried, but it’s unclear whether businesses and investors will be forced to legally ‘refund’ the exchange’s debtors.



Source link

Continue Reading

Trending