What happens is when a user deposits their funds, the smart contract checks the APR, which operates similar to oracle but not identical the major difference is that Oracle checks off-chain while here, you can consider everything as on-chain. When a user deposits tokens, they are converted to yTokens such as yUSDC, yUSDT, and yDAI. YEarn holds a unique place in the crypto world and is recognized as one of the most decentralized projects.

Want to have an in-depth understanding of blockchain technology and decentralized finance? Get started with the Blockchain Council to become a Certified Blockchain Expert! Its official website defines it as a decentralized platform that “automates yield-maximizing profit switching opportunities for liquidity providers and yield farmers.” It utilizes decentralized finance protocols such as Compound, Aave, and others for optimizing token lending.Īs yEarn is getting mature and popular worldwide, it has grown its complete ecosystem that aims to maximize annual percentage yields, also known as APY for its prestigious users. It was officially introduced on July 17, 2020, by Andre Cronje, and since then, it has become one of the most valuable ‘decentralized finance coins. Yearn.finance, also known as yEarn, is a yield aggregating platform built on Ethereum Blockchain. Yearn Finance: A Newly Launched Cryptocurrency Yearn Finance: A Newly Launched Cryptocurrency.Certified Virtual Reality (VR) Developer™.Certified Augmented Reality (AR) Developer™.Certified Augmented Reality (AR) Expert™.Certified Internet-of-Things (IoT) Developer™.Certified Internet-of-Things (IoT) Expert™.Certified Artificial Intelligence (AI) Developer™.Certified Artificial Intelligence (AI) Expert™.Certified Information Security Executive™.Online Degree™ in Blockchain for Business.Online Degree™ in Cryptocurrency & Trading.Certified Blockchain Security Professional™.Certified Blockchain & Digital Marketing Professional™.Certified Blockchain & Healthcare Professional™.Certified Blockchain & Law Professional™.Certified Blockchain & HR Professional™.Certified Blockchain & KYC Professional™.Certified Blockchain & Finance Professional™.Certified Blockchain & Supply Chain Professional™.Certified Cryptocurrency Auditor™ (CCA).

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