![]() ![]() Yearn.finance currently works on products like yInsure which is a decentralized insurance program for DeFi users and stableCredit which facilitates decentralized lending and borrowing. ZAP lets users swap traditional stablecoins with liquidity provider tokens that represent stablecoins. Earn is a simplified version of Vaults, which only supports tokenized bitcoin and stablecoins. Yearn.finance offers additional services. Because of the pooling of capital, only one account (the controller for each vault) must pay transaction fees (gas), to yield farms. Vaults reduce the high cost of transacting Ethereum. Vaults initially supported only stablecoins but have expanded to include Ether (ETH), tokenized Bitcoin products, Chainlink and other coins. The strategy used to manage the deposited funds is to maximize returns and minimize risk. It allows users to deposit cryptocurrency, and earn yields. Vaults are the main feature of this protocol. The yearn.finance platform includes several products that can be used independently, such as Vaults, Earn, and ZAP. Protocols award tokens to users based on how many assets they have locked in a platform. Yearn.finance is a company that capitalizes on the practice of "yield mining," where users store crypto assets in DeFi protocols to earn more cryptocurrency. Andre Cronje, a South African financial technology development expert, was inspired to create Yearn.finance when he noticed inconsistencies between the yields offered in different DeFi applications. The protocol provides its users access to the highest yields on deposits ether, stablecoins, and altcoins. Yearn.finance was launched by Andre Cronje in early 2020. Yearn.finance is a decentralized finance (DeFi) aggregator of protocols that run on the Ethereum blockchain and allow users to maximize their earnings from crypto assets by lending and trading. ![]()
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