I tried to explain what Yearn Finance is in comic strips.
I explained what Yearn Finance is.
Some Takeaway
Yearn Finance is a suite of products in Decentralized Finance (DeFi). It provides a range of tools through yield generation, lending aggregation, and more ways to generate profits for investors. Yearn runs independently and maintains through various independent developers. The governance is a DAO governing way with holders to join and vote for its future. Yearn Finance is more than just a community-driven robo-adviser for yield. It is a DeFi toolbox to help people pick and choose many products. The goal of Yearn is to create an intuitive and easy way for investors to join and participate.
Yearn’s vault is a DeFi robo-advisor for yield. A capital pool that automatically generates yield based on opportunities present in the market. It is a passive investment strategy to spread risks to everyone who participates and helps everyone to yield from their investments.
Governance
The Yearn governance process is a DAO process. Everyone who is a token holder can participate to submit and vote proposals through an on-chain process. The proposal will pass through a majority vote with 9 members who possess signatures through a multi-signature wallet with more than 6 out of 9 signatures to implement such an approved proposal.
Yearn Finance v2
Yearn Finance v2 takes a step further. With the more customized design, users can adjust their yield through 3 main components: yVaults, Controller, and Strategies.
yVaults are token containers with various tokens inside. Rather than using a single token type, yVaults can provide various token types including LINK, LEND, REN, SNX, and wBTC.
Controller
It is a control mechanism that is managed by governance. As the governance will be selected with the highest yield strategies per each vault basis.
Strategies
Anyone can submit strategies and it will perform as an additional function to generate more rewards along with the core function. If your strategy has been selected, you will be rewarded with your strategy accordingly.
In conclusion
There are many other exciting products in Yearn Finance. It makes DeFi more accessible to everyone who wants to participate.
Photo by Shubham Dhage Unsplash
Note: the post was shared on multiple platformsYou can refer my previous article lists
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-------------------------------------------------------------------------------------Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.
