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264,992 Yearn.finance positions opened on eToro
Yearn Finance is a suite of decentralised finance products. The suite includes yield generation, insurance, and lending aggregation. Maintained by various independent developers, the Yearn Finance team has released the YFI token to enable governance of the protocol. There have been 30,000 YFI tokens minted. Some of the Yearn Finance core products include Vaults, which are capital pools that act as passive investments and Earn, a lending aggregator. These also include Zap, a tool allowing users to swap in and out of several liquidity pools and allowing users to earn trading fees and Cover, insurance for smart contracts underwritten by Nexus Mutual. Built on the Ethereum blockchain, YFI token holders can submit and vote on proposals. The token also functions as a cryptocurrency in addition to allowing holders to earn a return. When a holder stakes their YFI tokens to vote on a proposal, they earn a fee. Keep an eye on price movements of YFI and other cryptocurrencies on eToro.