Yearn Finance Newsletter #58

Week Ending March 8th, 2022

Mar 08, 2022

Welcome to the 58th 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 on Arbitrum
Yearn Security Review
Clarifying 2020 Mergers
Diving Into Yearn Metrics
Yearn Partners With Tenderly
Andre Cronje Involvement With DeFi
Vaults at Yearn
Ecosystem News

Yearn on Arbitrum

Yearn has now launched on Arbitrum, its first Ethereum L2. This is also our second non-Ethereum mainnet deployment after Fantom.

Arbitrum is Ethereum’s largest L2, with 10x lowered gas fees and withdrawals and deposits supported by top exchanges. To begin with, Yearn will begin on Arbitrum with a Curve triCrypto vault composed of ETH, USDT, and WBTC.

To enter this vault, you will need to add Arbitrum to Metamask, bridge via Synapse, Hop, or the official Arbitrum bridge, add liquidity to triCrypto on curve.fi, and finally, deposit on yearn.finance/vaults.

We invite you to engage, give feedback, and participate in the Yearn community by joining us on Discord, Twitter, or Github. Come build with us.

Yearn Security Review

At Yearn, we take security very seriously and hope to provide the best risk-adjusted yields in DeFi.

Thanks to DefiSafety, an independent team of security reviewers, we have received a score of 93%. Aside from our already strong safety measures and thorough documentation, Yearn is undergoing a complete formal verification, which is a separate stage of auditing.

Read the complete report here.

Clarifying 2020 Mergers

In late 2020 Yearn Finance announced several “mergers” with the goal of bringing leading DeFi projects together, creating an ecosystem focused on critical infrastructure: AMM (SushiSwap), Lending (C.R.E.A.M. Finance), Institutional support (Akropolis), and Yield Management (Pickle Finance).

Despite succeeding in various ways, we were never able to become a genuinely merged entity. Moving forward, each protocol will operate independently while remaining strong collaborators and good friends with Yearn and each other.

Thus, the Iron Bank will operate as a project independent of Yearn.

Check out the full article here.

Diving Into Yearn Metrics

One of crypto’s major ethos is for one to do their own research, and here at Yearn, we hope to emphasize that transparent metrics are one of our greatest strengths in helping users exercise caution in interacting with the protocol.

Three commonly used sites that we recommend are The Vaults at Yearn, Yearn Vision, and Yearn Watch.

The Vaults at Yearn site is the simplest, giving brief overviews of vault strategies and the types of vaults at Yearn. Yearn Vision is our most complete dashboard that gives information on the health of vaults, total value locked, and other analytics. Lastly, Yearn Watch is a tool mainly for strategists to understand information about the health of certain strategies.

Check out this full article from MarcoWorms and Dark Ghosty here.

You can access the vaults listed on these sites and starting earning today at yearn.finance/#/vaults.

Yearn Partners With Tenderly

Coming off hot from a recent $40M Series B fundraise, Ethereum dev tooling platform Tenderly has undertaken an official partnership with us at Yearn.

As Yearn has become somewhat of a DeFi behemoth, there are over 300 smart contracts made just for v2 vaults already. This only covers the surface of how many smart contracts we have written, with v1 vaults, keep3r infrastructure, helper contracts, and sidechain deployments also being created.

With a massive team, large amount of contracts, and a need to ship faster, we need to find the best-in-class developer tooling. Tenderly has allowed us to hasten our monitoring & alerting, debugging, and incident analysis for general protocol infrastructure and in times we create war rooms.

One thing Yearn is most excited about is bringing in new contributors and attracting talent. In collaboration with the Tenderly team, we offer 90-day free access to Tenderly for members of YFI Boarding School (a community for upcoming strategists). We believe this has helped boarding school members get deeper insights into their own strategy code, helping them learn more efficiently, while also showing them the power of Tenderly’s product.

Tenderly provides an end-to-end developer platform for teams and companies looking to build innovative blockchain products. Learn more at tenderly.co.

You can read a full overview of the partnership here.

Andre Cronje Involvement With DeFi

As many of you now know, Andre Cronje, the founder of Yearn, has recently announced his departure from the crypto/DeFi space. In spite of this, we would like to let you all know that Andre has not been involved for over a year and that we have over 50 full-time and over 140 part-time contributors at Yearn.

Andre’s retirement has no effect on day-to-day Yearn operations, and our infrastructure continues to be some of the most robust in the space. Our upcoming tokenomics changes and other YIPs are still in place to be rolled out as well.