Yearn.finance is an aggregator service for decentralized finance (DeFi) investors, using automation to allow them to maximize profits from yield farming. It provides lending aggregation and yield generation as well as insurance on the Ethereum blockchain. In other words, it is a smart contract protocol that works like an Amazon marketplace for interest-bearing crypto products.

Yearn.Finance

YFI

90%

Market leadership

YFI
Yearn.Finance

  • Yearn.finance is a collection of Decentralized Finance (DeFi) products that brings values such as lending aggregation, and yield generation to the blockchain.

  • Yearn.finance did not hold ICO, its backed by VCs

  • Yearn.finance tokens, YFI, are used for governance over the network and are distributed exclusively through active participation and liquidity provision.

  • Yearn.finance's social media presence is growing each year with 30% and 20% new followers attracted on Twitter and Reddit respectfully in the past year

43%

Overall rate

Team expertise

55%

Fundrising experience

40%

Token

67%

Industry influence

16%

Social impact

20%

Born in February 2020 from its previous iteration called iEarn, YFI quickly grew into arguably the most popular DeFi protocol at that time. And despite being a long way off from its all-time highs, YFI continues to be very popular among DeFi power users.

Yearn has developed a strong business model and has become a heavyweight in the DeFi space in less than a year. Based on Yearn's current run rate, and the assumption that $YFI token holders will be financially rewarded by Yearn's success in the future once again, we believe that the value of the Yearn token will continue growing.

Verdict
90%
Yearn's selling point has two parts: automated yield maximization and gas price reduction and ease of use. In exchange for this service, Yearn charges depositors a performance fee, as well as either a withdrawal or management fee, depending on the product in question.
Market leadership
Project Objectives
Chainlink aims to make smart contracts an even more powerful tool by enabling them to draw on dynamic data inputs gathered from outside sources.
Competition
Yearn Finance's top competitors include GOGO Protocol, Fractal, Gro, Set V2
55%
Yearn.finance was built by an experienced entrepreneur Andre Cronje who has 10+ years of experience working in blockchain projects. In the crypto community he runs with the nickname Father of DeFi.
Team expertise
  • 15+ employees are listed on LinkedIn

  • HQ: Cape Town, South Africa
Founders
  • Andre Cronje
    co-founder and CEO at Yearn.finance.
    • Experience with IT:
      A law graduate from South African Stellenbosch University in 2003, Cronje quickly found his way into information and communications technology after completing school. After completing a 16-month stint at the Computer Training Institute in South Africa, Cronje moved into IT and held positions at Vodacom, several CTO posts and two stints as a mobile developer.

    • Experience with blockchain:
      Cronje has a long career in cryptocurrency and has become synonymous with DeFi in particular. He also has positions at smart contract ecosystem Fantom and CryptoBriefing, a resource dedicated to initial coin offerings (ICOs) and crypto media.
    • Experience with blockchain:
      In 2014, Nazarov co-founded CryptaMail, a completely decentralized, blockchain-based email service.

    Incredibly rare in the cryptocurrency space, Cronje raised no private or public funding for the yearn.finance protocol – and reserved no tokens for himself.
    40%
    Yearn.Finance is a VC-backed startup with Bitscale Capital, Blockchain Capital, BTX Capital and other established blockchain VC funds. However, the amount of money invested in Yearn.Finance is not disclosed. Yearn.Finance did not hold an ICO.
    Fundrising experience
    67%
    Token holders can stake their tokens to vote on governance decisions. Moreover, all ~36k tokens are currently in supply and all are owned by members of the community; no tokens were reserved for founders and VC investors, unlike with other protocols. So with the project's continuing growth YFI is a desirable asset for crypto investors.
    Token
    Ticker: YFI

    Documents: Whitepaper

    Max Supply: 36,637.72

    Token Release schedule: released. According to the YFI documents, more can be minted if users vote for it.

    Token distribution:

    • Community: 100%

    All YFI tokens are owned by members of the community; no tokens were reserved for founders and VC investors, unlike with other protocols

    Use of token: YFI is a governance token built on the Ethereum blockchain following the ERC20 standard. The native token YFI is used for governance over the network and is distributed exclusively through active participation and liquidity provision.

    Alongside its function as a governance token, YFI is also a tradable cryptocurrency.


    16%
    Yearn Finance was arguably one of the most popular DeFi protocols of 2020, also known as a Year of DeFi. But in 2022, after the wave of users slowly became calmer, developers activity slowed down and prices have fallen, the position of Yearn Finance changed. With the power of partnerships with enterprises and more integrations with other DeFi solutions, Yearn Finance can still get back to the throne.
    Industry influence
    • Layer-2 solution on Ethereum blockchain

    • Users: Users can deposit crypto to their Yearn accounts through various blockchains that are integrated into the protocol: Ethereum, Fantom, Arbitrum.

    • Integrations: Compound, Dydx, Curve, Aave

    • Enterprises involved: none

    • Developer activity: Low
    Community Building Program
    Yearn Finance remains decentralized and community-governed, allowing the Yearn community to shape the future of the project.
    20%
    Yearn.finance is growing its online communities with almost 200k Twitter followers and 9k Redditers, which is 30% and 20% higher than the audience it had a year ago. However, the numbers are relatively smaller than those shown by their competitors.
    Social impact
    • 197k followers on Twitter (+30% in the past year)
    • 8.8k users on Reddit (+20% in the past year)
    • 11.5k+ subscribers on Telegram
    • 18k members on Discord
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    The AML policy of Aximetria GmbH complies with the following laws and regulations of the Swiss Confederation.
    Federal Act on Combating Money Laundering and terrorist financing of 10 October 1997

    Ordinance on Combating Money Laundering and Terrorist Financing of 11 November 2015

    FINMA Circular 2016/7 on "Video and online identification" of 3 March 2016

    Regulations of the Self-Regulatory Organisation pursuant to the Anti-Money Laundering Act VQF Financial Services Standards Association regarding the Combating of Money Laundering and Terrorist Financing of 28 September 2015
    VQF-Circular 2016/1 concerning Applicability of regulations issued by FINMA of 14 June 2016

    VQF information leaflet for the engagement of third parties for the performance of duties of due diligence and / or as AMLA Special Department

    VQF Information leaflet for issuing internal directives

    Swiss Criminal Code of 21 December 1937