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Yearn Finance | Yearn Finance Tutorial | Yearn Finance Explained



Yearn Finance | Yearn Finance Tutorial | Yearn Finance Explained

👉 Yearn Finance Twitter: https://twitter.com/iearnfinance

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Welcome to Our Yearn Finance Video!

earn.finance is a collection of Decentralized Finance (DeFi) products that brings values such as lending aggregation, and yield generation to the blockchain. In other words, it is a leading DeFi product that serves as a doorway to several protocols, allowing users to exploit the best strategies for earning crypto assets via lending and other trading methods.

This group of protocols runs on the Ethereum blockchain and aims to maximize users’ earnings while removing the need for a financial mediator like banks or escrow.

To understand what this truly means, imagine if you had access to a savings account that yields 15% a year in USD but without a bank and practically no risk of funds. Assume being a market maker and making percentage profits as the financial banks would want. This is somewhat related to what Yearn.finance brings to the DeFi world.

Overall, Yearn.finance aims to bring the booming DeFi space to the common man. The platform is monitored and controlled by YFI holders by several independent developers.

earn.finance was created in Feb. 2020 by an independent developer named Andre Cronje. He is a South African businessman and software developer.

The whole concept was born when Cronje, at this time, was examining and comparing DeFi protocols that provide the best APY to maximize his crypto earnings. Compound, Aave, Fulcrum, and dYdX were the most popular.

However, it got to the point that Cronje found the whole process monotonous and boring, so he started creating the first version of the Yearn protocol. The idea behind the project was to automate the process of exploiting the optimal performing strategies to maximize annual percentage yields (APYs) for stablecoins.

In an interview, he stated that the project didn’t receive any funding, and he didn’t reserve any YFI tokens for himself before the launch. Subsequently, Cronje decided to build a team to develop the protocol and raise funds from venture investment.

In Feb. 2020, the protocol released the Earn feature, and it has since experienced massive growth. A few months later, it launched its cryptocurrency, the YFI token.

How does Yearn.finance work?
Yearn.finance is an APY-increasing protocol that moves crypto assets from one decentralized lending protocol to another, allowing users to maximize their returns. The platform transfers users’ assets between DeFi products such as Aave, Dydx, and Compound to increase APY.

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The information contained herein is for informational purposes only. Nothing here shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

I hope you found value in our Yearn Finance video. Make sure to leave a like on the video if you gained value from it!

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⏰ Time Stamp ⏰

0:00 introduction
0:20- YEARN FINANCE Explained
8:10- Twitter
8:58- Recap

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