Yearn Finance Newsletter #37

Welcome to the 37th edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of the 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

  • Yearn TVL Has Surpassed $5B

  • New LINK Vault Released

  • Advanced Curve Gauge Voting Strategy

  • May Protocol Revenue Reaches $10M

  • Reflexer Vault Released

  • Vaults at Yearn

  • Ecosystem News

Yearn TVL Has Surpassed $5B

Total value locked across all Yearn products has surpassed $5 billion, and $1 billion has been added in the last month alone. In comparison, it took Yearn 226 days after the first $1 billion to get to $2 billion. Yearn is continuing to see parabolic growth among its products with no indication of slowing down. The Iron Bank and v2 vaults are particularly notable components of our exponential growth. You can view and track TVL metrics among our products using yearn.science

A big thank you to everyone in the Yearn ecosystem, our partners, and of course you the users. 

New LINK Vault Released

We are happy to announce a new LINK yVault that accepts native LINK tokens as deposits. Our other popular LINK vault, crvLINK, requires users to deposit into the LINK Curve pool, or zap into it using our UI. But with this vault users can simply deposit their native LINK tokens. 

Strategists for this vault use your LINK to cycle through various yield-farming activities such as lending LINK on C.R.E.A.M. and Aave, earning yield on VesperFi, or borrowing stablecoins on AAVE with LINK as collateral and depositing the proceeds into one of our other vaults to earn yield. 

Yearn's standard vault fees apply: 2% management fee + 20% performance fee with no withdrawal fees. 

The new LINK vault can be found here.

Advanced Curve Gauge Voting Strategy

We have developed an advanced vote gauge strategy aimed at improving overall returns for our users. We are also actively monitoring boosts for each of the Curve gauges in relation to other competitors in DeFi. By voting on specific gauges based on earnings, TVL, and other metrics we are able to maximize profits for our users and increase earnings by up to 15%. We are confident that our developer team is among the smartest and most hardworking in DeFi, as such we are constantly optimizing our products to benefit you the end user. 

You can access our yVaults that incorporate Curve finance strategies here.

May Protocol Revenue Reaches $10M

Yearn has earned over $10 million in revenue for May (+34% MoM), which translates to $123.12 million annualized revenue. Assets under management have grown from $3.328 billion to currently over $5b. Protocol earnings are estimated to be $400k per day, but these figures are preliminary pending final financial reporting. Currently, our P/S sits at approximately 11.8x.

A dashboard of preliminary financials can be found here.

Reflexer Vault Released

A new yVault for RAI has been released and is now live on our UI. The vault supplies RAI to Idle Finance to earn IDLE, which is sold for more RAI and deposited back into the vault. You can access the vault here.

Vaults At Yearn

You can read a detailed description of the strategies for all of our active yVaults here.

Ecosystem News

Alchemix launches new alETH token, powered by Yearn WETH vaults.

Yearn Hub has rebranded to Yearn Watch, and it now shows realized APR for strategies.

Feel the Yearn tool gets a fresh upgrade with the implementation of the Yearn SDK and other items.

Yearn.fi v1.2.0 has launched, and it is a more tradfi friendly UI for Yearn.