The platform aggregates top DeFi protocols such as Compound, dYdX, Aave, and DDEX. When users make deposits, Yearn automatically allocates their funds to the protocol offering the highest returns at the time. In return, Yearn provides users with yTokens, which serve as proof of ownership and allow users to withdraw their original tokens along with any accrued returns.
In collaboration with Curve, Yearn also launched y.curve.fi, a stablecoin exchange pool. yToken holders not only benefit from traditional lending and financial returns, but they can also become liquidity providers in the exchange pool, earning additional profits. This combination provides the highest stablecoin financial returns across all DeFi platforms.
At present, Yearn offers financial services for various stablecoins such as DAI, USDC, USDT, TUSD, sUSD, and BUSD. Additionally, Yearn has issued its governance token, YFI, and participates in smart contract insurance through NexusMutual. It is important to note that Yearn is currently in beta testing, so users should be aware of potential risks when participating in its services.
