What is yearn.finance (@iearnfinance $YFI)?

#DeFi yield optimization. In 5 tweets πŸ§΅πŸ‘‡ Image
Yearn Finance is a suite of #DeFi products that provides lending aggregation, yield generation, and insurance on the #Ethereum blockchain.

It launched in 2020 and has more than $3 bn in assets locked.
yVaults are capital pools that obtain a yield from opportunities in the market. Vault strategist & guardian get fees.

By pooling their funds, users share gas costs, benefit from automated processes and rebalancing strategies, and don't need to be proficient in DeFi intricacies.
Earn is a lending aggregator that moves funds between several platforms as the interest rates change. The user ensures getting the highest rates always.

Other projects in R&D involve stablecoins, loans, liquidation opportunism, and swaps.
$YFI is the #ERC20 platform governance token, and its holders can get a portion of the protocol profits if they stake in the governance pool, but only a small percentage do.

The project is fully open-source and governed by a proposal system with different levels of delegation. Image
$YFI supply is fixed and fully in circulation.

All $YFI was distributed to users and liquidity providers at launch, with no team or investor allocation. However, in 2021, the community approved the creation of new coins (+22%) to reward key contributors and fund proposals.
I'm analyzing crypto projects and concepts in 5 tweets for 50 days straight. Follow @fernando to make sure they show up on your feed. Bonus points for the notification bell.

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Of course, this is not financial advice yada yada yada.

If you are optimized for losses, change something in yourself. You are the problem, not anyone feeding you content on the internet.

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More from @fernando

24 Jun
What is Celo (@CeloOrg $CELO $cUSD)? πŸ“²

Crypto payments to phone numbers. In 5 tweets πŸ§΅πŸ‘‡
Celo is a smart contract capable blockchain optimized to easily provide access to financial services with the lowest possible entry barriers.

The protocol includes stablecoins, on-chain governance, and uses phone numbers as addresses.
Users can associate their phone number to an address. Others can see they've done that and can send transactions to that phone number without knowing the address.

Phone numbers are not visible on the blockchain, but the repeated use of an address can itself be a privacy issue.
Read 8 tweets
22 Jun
What is Synthetix (@synthetix_io $SNX)?🦾

Hardcore #DeFi: derivatives on all types of assets on the blockchain. In 5 tweets πŸ§΅πŸ‘‡ Image
Synthetix is a decentralized synthetic asset platform that provides on-chain exposure to fiat currencies, cryptocurrencies, commodities, stocks, and indices.

It opens up endless trading possibilities to people who wouldn't normally have access to trading the tracked asset.
Synthetic assets (Synths) are backed by Synthetix Network Tokens ( $SNX) staked into a smart contract as collateral. The current ratio is 750% and can be changed by governance.

In exchange, Synth stakers get a fixed amount of inflation and fees on the trading of the Synth.
Read 8 tweets
20 Jun
What is Terra (@terra_money & $LUNA)? 🌏 πŸŒ”

Crypto money for users who don't care about crypto. In 5 tweets πŸ§΅πŸ‘‡ Image
Terra is an open and transparent monetary platform built on @cosmos in 2020.

It offers algorithmic #stablecoins & tools to provide users with all they need to manage their money. It's gaining a lot of adoption in Asia-Pacific.

TerraUSD ( $UST) is their biggest stablecoin.
Algorithmic stablecoins are different from centralized ones that hold the equivalent fiat money in reserve (USDT or USDC).

They use automatic mechanisms that maintain the price using arbitrageurs & a 2nd token. Terra uses $LUNA, the network token, to stabilize their stablecoins.
Read 8 tweets

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