Yearn Finance Newsletter #20

Week Ending January 31st, 2021

Welcome to the 20th edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of latest news, including product launches, governance changes, and ecosystem updates. If you’re interested in learning more about Yearn Finance, follow our official Twitter and Medium accounts.

Summary

  • YIP-57: Funding Yearn’s Future Voting is Live

  • Relaunch of Our v1 WETH yVault

  • Thirteen New yVaults are Live

  • ASSY Index is Live

  • Discussion on Administration over Minting Keys

  • Next AMA Scheduled

  • Partnership Roundup

  • Governance Roundup

  • Ecosystem News

YIP-57: Funding Yearn’s Future Voting is Live

A key Yearn Improvement Proposal (YIP) regarding minting an additional 6,666 YFI is now live on Snapshot. This proposal would use 1/3rd of the minted YFI and vest to current contributors. The remaining portion would be sent to Yearn’s Treasury and reserved for future contributors, liquidity mining programs, staking rewards, mergers & acquisitions, and cross-protocol incentives within the Yearn ecosystem. Voting ends February 2nd at 6pm UTC.

You can read the full description of this YIP and vote now using this link

Relaunch of Our v1 WETH yVault

We are pleased to announce the re-launch of our v1 WETH yVault. This vault has been improved in order to accommodate the high demand that the initial v1 WETH yVault experienced. ETH deposited into this vault is sent to MakerDAO, mints DAI, and earns CRV by depositing into the 3pool on Curve.fi. 

You can deposit to this newly launched yVault here

Thirteen New yVaults are Live

This week, Yearn added 13 new yVaults to our website. Included are the previously experimental Curve stETH yVault, a new v2 WBTC yVault, and 11 other new Curve pool yVaults. As a reminder, the stETH yVault farms CRV and LDO from the stETH/ETH pool on Curve.fi. The new WBTC yVault has been deployed and will soon launch its first strategy, farming on Idle.Finance. Finally, the 11 new Curve pool vaults all accept Curve LP token deposits and use those to harvest and sell CRV for more of the underlying tokens. You can see all of these vaults in our UI here.

ASSY Index is Live

PowerPool recently voted on a new PowerIndex, ASSY, which consists of staked AAVE, SNX, SUSHI, & YFI. This new index has been launched and you can now deposit funds and gain exposure to these four assets via their index. 

You can deposit into the ASSY index here

Discussion Over Administration of Minting Keys

A new discussion is on our governance forum that explores different options on what to do with the YFI minting keys. A few options include, (1) burning the minting keys, (2) lock the minting function for a predetermined period of time, or (3) establish a clearly defined and more stringent consensus requirement to mint additional YFI. 

No vote is live regarding this potential YIP as it is merely in the discussion phase. You can read the governance post and join the discussion here

Next AMA Scheduled

We will be hosting our next Ask Me Anything (AMA) on our official Discord channel this Wednesday, February 3rd at 4pm UTC. Tascha Punyaneramitdee from Alpha Finance Labs will be joining us as a special guest to briefly talk about their upcoming v2 YFI/ETH leveraged yield-farming pool and ibYFI product. 

You can join our discord using this link

Partnership Roundup

You can read our weekly partnership roundup discussing updates involving partners in the Yearn ecosystem here.

Governance Roundup

You can read our most recent bi-weekly governance roundup discussing potential YIPs or ones actively being voted upon here.

Ecosystem News

We are looking to hire several senior level roles 

C.R.E.A.M enabling SushiSwap and Uniswap LP tokens as collateral for borrowing

Snapshot for the ADEL to AKRO swap

Spendless app integrating yVaults into their interface

Announcement over v1 WETH yVault launch

1,000 ETH Zapped into our SteCRV yVault

Looking into Yearn’s future with Astrology

DILL contracts in the final stages after audit

Akropolis + Yearn yVaults

Recent Yearn stats

New test vaults under experimentation