yEarn Finance’s yield farming mechanism yETH vault, has secured over $140 million in just 2 days,
- The yETH vault was launched on September 2, and automates the liquidity provision process
- In the case of the yETH vault, ETH is provided to Maker CDPs to generate DAI, which is subsequently provided to the yDAI vault
- yDAI is then used to provide liquidity to Curve Finance (CRV) pools, for which CRV is received
- The vault finds the most optimum yields and has been described Delphi Digital co-founder and COO Anil Lulla as a roboadvisor
- The current interest rate is 90%, with a 0.5% withdrawal fee
- A yWETH (which uses wrapped ether) vault is also available
Related Reading:
- yEarn Finance V2 brings several new features
- yEarn launches yDAO funding vault
