Yearn.Finance is a decentralised P2P lending platform on the Ethereum blockchain for DeFi's. It provides a marketplace for borrowers and lenders to connect and utilises automation to allow investors to maximise yield farming profits.
Yearn.Finance is a community owned and operated platform that is designed as a service for those seeking to utilise their Ether as an investment tool. YFI tokens are ERC-20 Standard Tokens guaranteed by smart contracts on the Ethereum blockchain.
It was founded by Andre Cronje in 2020. Yearn.Finance was formed to address a need for the decentralised community to have an effective means of lending their hard-earned Ether as part of a diversified investment strategy.
Yearn.Finance's goal is to provide a secure platform that could be readily adopted by those seeking to invest in Ethereum, as well as those investors who may not be as technically-minded. Since launching, the platform has seen huge growth and has assets under total value locked coming in at just over $1 billion as of the end of 2020, according to CoinMarketCap.
Investing in Ether can be both rewarding and profitable. Yearn.Finance has developed this platform to make it easier for investors to access their funds (Ether) when they need it.
Yearn is a decentralised finance solution that functions as an investment hub, where investors can grow their Ether savings by selecting from a variety of different portfolios, created by professional traders. Investors can choose to take their savings and withdraw them at any time. Yearn also allows investors to take loans against their Ether funds as needed.
The platform uses tools that are bespoke which act as an aggregator for DeFi protocols and providers. These include:
• Compound (for active money management)
• Uniswap (for liquidity)
• Dharma (for lending and debt management)
• Bamboo (minting for CDPs).