• Pisky

Yearn Finance

Why we like it

Welcome to DeFi! DeFi stands for decentralized finance and we are BIG fans of it. Chances are, if you've bet on crypto, you've (painfully) witnessed a horrific crash at some point or another. Well, fellow crypto enthusiasts, the days of being a completely helpless victim to said crypto crashes are over!

Enter Yearn Finance, probably the simplest DeFi protocol to wrap your head around. Yearn is a great (audited) earner! The concept is pretty simple - you lock up your crypto assets in their vaults and earn VERY competitive interest rates. Don't want to sweat crypto crashes anymore? No problem, swap your crypto into a stable coin (1 stable coin always = $1 USD) and lock those stable coins in one of their vaults! From there, you basically have a high interest savings account on steroids. At time of writing, USDC stable coin is earning a solid 7.5% interest. The rates are variable though, we've seen them as high at 18% (!) and as low as 2% (meh).

From our personal research + the advice of one of our top crypto consiglieres (aka Dr. DeFi) Yearn seems to be the "safest" of DeFi platforms. To date, we've only run into an accounting error in one of our vaults. This error was quickly acknowledged, identified and rectified in a timely manner. Another big plus was the fact that everything was clearly communicated in Yearn's discord group, the entire way.

Yearn steps

  1. Deposit coins into one of their vaults

  2. Swap crypto for stable coins if you don't feel like sweating anymore.

  3. Earn like you would in a high interest savings account.

  4. #setitandforgetit

More info

#yearnfinance #yearn #defi #crypto #interest #alwaysbetting

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