Yearn Finance Newsletter #41
Yearn Finance introduced Weekly Newsletter #41 to keep the Yearn and the wider crypto community informed of latest news, including product launches, governance changes, and ecosystem updates.
Summary
- Celebrating YFI’s First Year
One year ago on July 17, 2020, the YFI token was launched. Thank you all for creating an unforgettable moment in DeFi and what is now one of the strongest DeFi ecosystems.
- Yearn’s Market Share In The Aggregator Market Rises
In Q2 2021, Yearn’s market share in the yield aggregator market rose from 29% to 69%. They saw an impressive 136% growth in our AUM, as it reached over five billion dollars. They are working constantly to find you the best risk-adjusted returns in the market. Deposit capital to our yVaults and let the Strategists do all the hard work for you.
- Yearn To Be Added To Compound
A proposal has been created and contracts have been deployed to add YFI as a market to Compound Finance. Each token will have a zero collateral factor (initially), the same interest rate model (as COMP/LINK), and a reserve factor of 25% for each market (which is standard).
In the near future, collateral factors will be increased and users will be able to supply YFI on Compound and borrow coins with that collateral.
- YFI Borrowing Rate Lowered At MakerDAO
MakerDAO has lowered the YFI-A stability fee to 1% and the ETH-C stability fee to 0.50%. These are incredibly beneficial for Yearn’s YFI and ETH strategies as they lower the cost of borrowing. The reduced cost of capital generates more net yield for users, improving returns.
- Vaults at Yearn
- Ecosystem News
Element Finance launches their third asset, crvSTETH, which relies on Yearn for fixed yield
With Yearn, Keep3r, and Flashbots, a Keep3r stealth transaction has occurred to minimize MEV
Powerpool’s YLA, a basket of Yearn vaults has automatically rebalanced
Yearn and Project Galaxy’s Woofy NFTs enter top 50 trading volume on OpenSea
MahaDAO implements Yearn’s Coordinape framework for their DAO operations
Easily import Yearn’s price magic tool into any python script with BobTheBuidler’s ypricemagic
Alchemix relaunches their alETH token, powered by Yearn WETH vaults
Ribbon FInance creates a put option selling vault with yvUSDC as collateral
Yearn Risk Dashboard allows you to drill down and see where each strategy has the funds deployed
Join the Fair Launch Summit with Yearn, Sushiswap, Alchemist, and more
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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