Fantom Ecosystem Spotlight- Yearn Finance

Published on: 20.01.2022

What is Yearn?

Yearn Finance is the most robust yield source in DeFi for users, institutions, and developers. Yearn is operated by a true DAO of independent developers worldwide and governed by YFI holders.

Yearn gives everyday users the ability to tap into DeFi yields without needing to be a programmer or full-time yield farmer.

For partners, Yearn provides yield at scale along with fee-sharing incentives so you can earn while building valuable products for your users.

For doers, Yearn is an invitation to build and learn in one of the defining DAOs of DeFi.

Yearn offers several core products, including:

Yearn Vaults. All deposits are routed through strategies that seek out high yields that are returned to the Vaults.
The Iron Bank. A place where users can deposit and/or borrow crypto. Some smart contracts have been whitelisted to borrow from the Iron Bank without collateral. This should drive higher borrowing demand, which should translate into higher yields for depositors over time.
Yearn Labs. Users can deposit crypto into emerging and unconventional DeFi strategies. Labs strategies are riskier than Vaults but often earn higher yields.
YFI (and WOOFY). Yearn’s governance token, YFI, gives you a voice in the future of Yearn. YFI can be exchanged for WOOFY tokens and vice versa at a fixed rate of 1 YFI = 1,000,000 WOOFY.