### What is yearn.finance?

Yearn.finance is a decentralised finance (DeFi) protocol designed to serve as a yield aggregator, simplifying and automating the process of yield farming. By reallocating funds dynamically across various DeFi lending protocols, such as Compound, Dydx, Curve, and Aave, it optimises returns for its users.

### How does yearn.finance work?

Yearn.finance operates on the Ethereum blockchain, utilising smart contracts to automate yield farming strategies. It leverages Ethereum's Proof of Stake (PoS) consensus mechanism. The protocol uses algorithms to rebalance funds across multiple DeFi platforms to maximise annual percentage yields (APY). Smart contracts deployed on Ethereum carry out these tasks, with the platform's technical insights available through its documentation and GitHub repository.

### What are the potential use cases for yearn.finance?

Yearn.finance presents several use cases such as:

- **DeFi Yield Farming**: Optimising yields across multiple DeFi protocols.
- **Decentralised Governance**: Allowing YFI token holders to vote on governance issues.
- **Insurance and Risk Management**: Providing risk mitigation through alliances such as with Cover Protocol.
- **Liquidity Provision**: Partnering with protocols to enhance lending, borrowing, and pool functionalities.

### What is the history of yearn.finance?

Yearn.finance, founded by Andre Cronje, launched in February 2020 as a project developed independently without prior funding. It rapidly expanded, managing over $3 billion in total value locked by November 2020, and evolved into a suite of DeFi services. Key features include Vaults, Earn, Zap, and Cover. The platform continues to innovate and collaborate with other projects to enhance its offerings.

yearn.finance

Uniswap

Aave

Rocket Pool ETH

NEXO

PancakeSwap

Lido DAO

Injective

Curve DAO

Pendle

Sun Token

Raydium

DeXe

Olympus

JUST

Compound

Synthetix Network

Fluid

yearn.finance (YFI)

Similar Coins

DAI

UNI

AAVE

RETH

NEXO

CAKE

LDO

INJ

CRV

PENDLE

SUN

RAY

DEXE

OHM

JST

COMP

SNX

FLUID

Resources

yearn.finance (YFI) Price Index

yearn.finance Price

Trading volume

Market cap

Resources