Yearn Finance Newsletter #40

Welcome to the 40th 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

  • Cumulative Protocol Revenue Reaches $30M

  • Synthetix Adds The SNX yVault To Their Interface

  • SEBA Bank Mentions Yearn In Report

  • Claim Your Rewards From YFI Staking

  • Vaults at Yearn

Protocol Revenue Surpasses $30M

Since its launch, Yearn has earned over $30 million in revenue excluding the interest paid to depositors, with nearly $1 million earned in the last week. In the past 30 days, $4.77 million dollars in revenue has been generated by the protocol. An extrapolation of this data projects annual revenue to be $58 million. 

Yearn’s cumulative revenue and other statistics are viewable here.

Synthetix Adds The SNX yVault To Their Interface

You can now access Yearn’s SNX Vault directly in the Synthetix staking interface. The Yearn SNX Vault offers automatically compounded staking for users who want to tap into the rewards of staking without having to manage their position each week.

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

Access the vault here.

SEBA Bank Mentions Yearn In Report

Once again, SEBA Bank has written an amazing report on DeFi, with Yearn receiving lots of attention. Yearn has seen immense growth as the market has gone through severe downturns, with more and more users arriving to earn passive yields in unfavorable market conditions. We continue to strive to provide the best risk-adjusted yield in DeFi while minimizing transaction costs for our users. Special thanks to all our everyone in the Yearn ecosystem and of course you, the end users.

The full report can be found here.

Claim Your Rewards From YFI Staking

Make sure to check if you have any assets left in the retired YFI staking contracts, as there is $29 million in staked YFI, LP tokens, and claimable rewards.

Unsure if you might have some funds to claim? Head to etherscan.io, and enter one of the following contract addresses from this list. Under the Contract tab, click Read Contract, and put in your address under the balanceOf line. If a value >0 shows up, then congrats, you have YFI and/or rewards to claim! To claim all of your staked assets and rewards, head over to Write Contract, connect your wallet, and call exit().

With your tokens or newfound rewards, you can head to yearn.finance/vaults and deposit in our vaults to earn!

Details can be found here on how to remove your assets from the contract. 

Vaults At Yearn

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

Ecosystem News

Unslashed Finance launches a program to insure Yearn smart contracts

Risk Harbor launches a vault protection pool for Yearn

Abracadabra.money launches a new yvWETH lending market with 0% interest borrows

Things to know about using Yearn vaults