Yearn Finance Newsletter #33
Yearn Finance introduced Weekly Newsletter #33 to keep the Yearn and the wider crypto community informed of latest news, including product launches, governance changes, and ecosystem updates.
Summary
- $20m in Revenue Earned Since Launch
Yearn has earned $20 million in revenue, excluding the interest paid to depositors, since launch in July 2020. In the past 30 days, ~$5 million dollars in revenue has been generated by the protocol. Extrapolating this data puts annual revenue at $60million.
- Total Value Locked Has Reached $4.5b
Yearn total value locked (TVL) is continuing to experience explosive growth and we have now surpassed $4.5b in TVL across all Yearn products.
- Yearn Has Purchased An Additional 8.15 YFI For $408K
In accordance with YIP-56: Buyback and Build Yearn, which was passed in January 2021, we are proud to announce that Yearn Treasury has purchased an additional 8.15 YFI for $408K at an average price of $50,121 per YFI.
Yearn Treasury will periodically purchase additional YFI in the future using profits earned by the protocol until a new governance proposal is passed that alters this buyback policy.
- yVaults v1 to v2 Migration Is Live
The crvSAAVE, yCRV, y3CRV, crvCOMP, crvSBTC, crvRENBTC, crvHBTC, crvTBTC, crvBBTC, crvPBTC, crvYBUSD, and crvGUSD vaults have begun migration to v2. You can view the APYs here. Withdrawal fees related to migration are waived, but only for a LIMITED time so migrate ASAP!
- WOOFY Has Gone MultiChain
The WOOFY launch, following the trend of several dog coins, saw an implied price of YFI at $1.5 million per token.
- Two New Pickle Jars Launched By Pickle Finance
Yearn ecosystem partner Pickle has added two new wrapped vaults, also known as jars. These two jars are USDC V2 and Curve LUSD boosted by Curve Finance.
- Vaults at Yearn
What is Yearn State of the Vaults?
Yearn State of the Vaults is a weekly publication that covers news, upcoming changes, and current strategies for all of Yearn Finance’s yVaults.
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