Yearn is a decentralized finance (DeFi) protocol that enables users to earn maximum yields on their cryptocurrency investments by automatically moving their funds between different DeFi platforms.
Yearn was founded in February 2020 by Andre Cronje.
Initially, it was launched as a single smart contract designed to automatically move funds between different lending platforms to maximize yield.
In August 2020, Yearn announced the launch of the YFI (Yearn Finance) token, which offered users governance rights over the protocol and incentivized them to participate in its growth.
In January 2021, Yearn also launched the yVaults, which are a collection of streamlined strategies that allow users to earn maximum returns on their investments with minimal effort.
Compound is a DeFi protocol focused on lending and borrowing various cryptocurrencies.
Aave is a decentralized lending and borrowing protocol that allows users to earn interest on their cryptocurrency.
MakerDAO is a decentralized platform that allows users to generate the stablecoin DAI by locking up their cryptocurrency assets as collateral.
The yVaults are a collection of streamlined strategies that allow users to earn maximum returns on their investments with minimal effort.
Earn is a platform that allows users to earn returns on their cryptocurrency investments through decentralized lending and staking platforms.
Zap is a platform that allows users to easily move their funds between different DeFi protocols to maximize yield.
Yearn Finance is a decentralized finance protocol that enables users to earn maximum yields on their cryptocurrency investments by automatically moving their funds between different DeFi platforms.
The YFI token is a governance token for the Yearn Finance protocol that offers users voting rights and incentivizes them to participate in the protocol's growth.
The yVaults are a collection of streamlined strategies that allow users to earn maximum returns on their investments with minimal effort.
To use Yearn Finance, you can either directly use one of its products like Earn or Zap, or you can purchase the YFI token and participate in the governance of the protocol.
Yearn Finance, like any other DeFi protocol, has some risks associated with it. However, the protocol has been audited multiple times and has a strong community supporting it, which makes it relatively safe to use.