What is the Yearn vault? How is that different from the bank vault?
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A vault is a secure place to store valuable goods. Vault is particularly strong to defend against any possible destruction from bank robbers. There was an arms race between banks and robbers in the past. Each side invented a new technology to defeat one other. Since assets back then were heavily stored physically in vaults, robbers targeted bank vaults frequently until digitization to move physical assets away into the network system.
Nowadays, many vaults are repurposed into tourist attractions and restaurants. Banks may no longer need a physical place to store their valuables.
Unlike a physical bank vault to prevent robbery, a digital vault has more purposes for users. It is a secure fund pool operating through smart contracts to yield profits through different investment strategies.
It is an imaginary box with many secret sauces to make funds yield profits. Opposite to exclusive robbers, Yearn vault is open to everyone to participate and explore the potential earning opportunities.
yVault has been updated from version 1 to version 2. It becomes more flexible to implement strategies into yVault to create more ways to explore the yielding potential. It can include up to 20 strategies simultaneously within one vault. With different types of tokens, the vault can expand and adopt new types of tokens. The yielding potential becomes unlimited.
Yearn vault is a digital smart contract with strategies embedded to create inclusive yielding opportunities. As opposed to a bank vault which exclusively has dangerous characters to protect their assets.