yearn finance explained

Yearn.finance (YFI) Explained in 60 Seconds

By CryptoSlackers | CryptoSlackers | 7 Dec 2020


Yearn Finance is a decentralized finance network that offers a suite of different DeFi products for lending aggregation, yield generation, and insurance on the Ethereum blockchain.

YFI is Yearn Finance's native governance token that gives owners the right to vote for proposed changes to the network.

The most notable offering from Yearn Finance is its yield generation product called "yVaults".

These vaults are yield farming robots, or programs, that automatically move your deposited cryptocurrency around to the highest yielding DeFi opportunities in the market.

Each vault is overseen by a controller who is responsible for ensuring the vault strategy is executed.

To learn more about Yearn Finance, head over to docs.yearn.finance to read the Yearn Finance documentation directly.

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CryptoSlackers

CryptoSlackers is a website, YouTube Channel, and Slack chat group focused on educational content and smart, responsible crypto investing.


CryptoSlackers
CryptoSlackers

CryptoSlackers is a website, YouTube channel, and Slack chat group focused on educational cryptocurrency content and smart, responsible investment strategies.

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