Yearn Finance Newsletter #45

Welcome to the 45th 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

  • ALPHA and YFI Liquidity Providers Eligible For A Special NFT

  • Reminder To Migrate To V2

  • How To Swap Into Yearn Vaults

  • Cumulative Protocol Revenue Reaches $39M

  • Vaults at Yearn

  • Ecosystem News

ALPHA and YFI Liquidity Providers Eligible For A Special NFT

Liquidity providers for the Uniswap ETH/YFI and Sushiswap ETH/YFI pools in Alpha Homora V2 pools will be eligible for a special NFT drop courtesy of Yearn, Alpha, and Project Galaxy.

This drop will last 3 full days, from 9/3-9/9. Users that open/have existing positions in eligible pools will be able to claim their NFT on Project Galaxy’s website here.

Note that users will only be able to claim their NFT during the window and must claim with the wallet address that has the positions currently open

View more details here.

Reminder To Migrate To V2

As v2 has been live for months, the v1 vaults have been deprecated and strategies have been shut down, with users still in the vaults earning no yield. These vaults have served the DeFi community over a year as a reliable source of yield, and now, it’s time for an upgrade. As a reminder, our v2 vaults entail several changes such as deploying capital across several strategies for more efficiency and better risk-adjusted yield. You can migrate to v2 at any time without fees. 

Check out the vaults here at yearn.finance/vaults.

How To Swap Into Yearn Vaults

One of the best ways to do Yearn Vaults swaps funds from one vault to another is typically using curve.fi or with zaps built into Yearn’s UI. This is gas efficient, but may cost extra in slippage or additional fees. 

Another way of migrating funds from Compound and AAVE to Yearn is with the use of bowswap.finance. It lets you withdraw from the protocol and deposit into a Yearn vault, with it additionally showing both protocol's APYs for comparison and allowing you to select multiple tokens at a time. No extra fees!

Thanks to cryptouf for curating this short guide.

Cumulative Protocol Revenue Reaches $39M

Yearn has earned over $39 million in revenue, since launch (excluding the interest earned by depositors). In the past 30 days, over $5 million dollars in revenue has been generated by the protocol. An extrapolation of this data projects annual revenue to be nearly $30 million. 

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

Vaults At Yearn

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

Ecosystem News

Keep3r Network v3 liquidity incentives

ySNX vault users qualify for an airdrop from Thales Markets

yvcrvSTETH added to abracadabra.money as a lending market

The Defiant breaks down the Yearn ecosystem

Yearn crvTricrypto coverage market live on cozy.finance