Yearn

Yearn.com, officially known as Yearn Finance, is a decentralized finance (DeFi) protocol built on the Ethereum blockchain. Launched initially as iEarn in February 2020 by South African software developer Andre Cronje, the platform was rebranded to Yearn Finance in July of the same year. Cronje, a prolific developer with a background in law and computer science, created Yearn to simplify the complexities of yield farming for investors. His journey into crypto began around 2017 after a career that included roles in mobile development, software architecture, and as Head of Technology for major companies. He famously launched Yearn without any pre-mine or team token allocation, a move that garnered significant respect within the crypto community.

The core business of Yearn Finance is to act as a yield aggregator, automating the process of finding the highest returns for cryptocurrency assets. It serves investors who may lack the time or expertise to navigate the intricate and rapidly changing DeFi landscape. The platform operates by automatically shifting user-deposited funds between various lending protocols like Aave, Compound, and dYdX to secure the best interest rates. Revenue is primarily generated through a 0.5% withdrawal fee and a 5% gas subsidization fee, although these can be altered by community governance. More complex products, like Vaults, also have a 20% performance fee on yield and a 2% annual management fee.

Yearn's main product offering is centered around its Vaults and its 'Earn' service. 'Earn' is the lending aggregator that seeks the optimal interest rates for stablecoins and other crypto assets. 'Vaults' are more advanced, representing collections of investment strategies that automatically compound yields and rebalance capital to maximize returns. These vaults allow users to deposit assets and benefit from professionally designed, automated yield farming strategies. Another key feature is the YFI token, an ERC-20 token that functions as the governance mechanism for the protocol. YFI holders can vote on proposals that dictate the platform's rules and future development, and they also receive a share of the fees collected by the protocol.

Keywords: Yearn Finance, Andre Cronje, YFI, DeFi, decentralized finance, yield farming, yield aggregator, crypto lending, automated investment strategies, Ethereum blockchain, stablecoins, liquidity pools, governance token, smart contracts, crypto asset management, digital assets, passive income crypto, lending aggregator, Yearn Vaults, ERC-20