yEarn Launches yDAO Funding Vaults

By Abhimanyu Krishnan | News | 1 Sep 2020

On August 29, DeFi yield aggregator yEarn launched a new delegated vault for decentralized funding called yDAO. 

  • The yDAO vaults will let users fund the vaults with YFI token, which can be utilized by applicants for a variety of needs, such as product development 
  • In addition to yEarn's vaults, the solution is also based on yEarn.Finance's governance model and Aave's credit delegation 
  • Applicants will have to set up a Gitcoin grants page and announce the proposal on the yEarn forums
  • If the proposal is approved, a credit line will be established on a weekly, monthly or yearly basis that the applicant can draw from; credit lines can also be increased depending on applicant performance
  • Profits from providing YFI to the vault will be shared between Liquidity Providers in proportion to the amount contributed
  • Benefits of the yDAO funding vault include a more flexible funding process and a reliable and steady stream of funds for applicants 

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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