With the emergence of artificial intelligence and the development of web3, the importance of cryptocurrency and other digital assets has increased. Like other physical assets, the return on digital assets has also become the main concern of investors and organizations having digital assets and cryptocurrency.
Yearn Finance is one of the top-rated yield aggregators, and its technology, Yearn Vaults, detects the opportunities available in the market and shifts the capital accordingly. So, the end users are not required to be aware of DeFi protocols.
In this article, we’ll go through a complete Yearn Finance Review and look at how it is secure and helpful for crypto investors.
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What is Yearn Finance?
Yearn Finance is a modern yield aggregator where individuals, investors, or organizations can keep their crypto assets and get profit in return. Yearn Finance was introduced in July 2020 by its creator Andre Cronje, and in a very short period, it has become one of the most popular, valuable, and trusted decentralized finance aggregators.
Yield aggregators, also known as yield optimizers, boost the crypto economy yield of different coins by bringing all the decentralized finance protocols (also known as smart contracts) and other strategies to augment the investors’ profit.
How does Yearn Finance Work?
With some significant products in the profile of Yearn Finance, here is how it works. Yearn Vaults are used as staking pools that help generate good returns according to the opportunities available in the market. Users can automate the yield process and have better opportunities.
What is Yearn Finance Coin?
YFI is an Ethereum token that overlooks the Yearn finance platform. It is a yield optimizer which means it is used to move the crypto assets in the decentralized finance “DeFi” ecosystem so that high returns can be generated on it.
Is Yearn Finance Safe?
We cannot say that Yearn Finance is 100% safe. Still, it is more reliable than other yield aggregators. Looking at history, Yearn Finance was attacked in the past couple of times and even once lost $11M in an exploit attack by hackers using the flash loans technique. However, Yearn has compensated all its users, which makes it a more reliable platform than others. But now the protocol of Yearn finance is maintained by experts. Further, if users store their assets offline in hard or cold wallets, the risks are almost negligible.
So, in light of the above discussion, it can be said that Yearn Finance is one the most secure platform nowadays, along with the increasing interest of users as Yearn is planning to introduce more tokens.
Yearn Finance Price Prediction
One of the most important factors which highlight the value of a Platform is its price and prospect. Since the start of 2023 till now the price of Yearn finance YFI has increased by over 30%, while other cryptocurrencies, including Bitcoin and altcoins, have been bleeding continuously since November 2021. According to expert analysis, YFI price is forecasted at $18,286 at the end of 2023, which is a 100% increase in only 2023.
Yearn Finance Price Prediction 2025
Yearn YFI is expected to touch $20,000 at the end of 2024, and by the end of 2025, it is predicted to reach not less than $22,000.
Yearn Finance Price Prediction 2030
Many indicators predict that the Yearn Finance YFI price will start above $30,000 in 2030.
Based on these price forecasts by our experts, it’s obvious that the YFI has a great future ahead with continuously increasing value on year-on-year levels.
How to Buy Yearn Finance Tokens?
You can buy a Yearn Finance token from any trusted crypto Exchange, as most popular crypto exchanges have listed YFI, including Binance, Coinbase, Kucoin, and more.
Services Provided by Yearn Finance as of 2023:
Like any other yield aggregator, Yearn Finance provides all the basic services of yield farming along with some unique options. The most interesting ones out of these are listed below.
1. Multiple Buit-in Wallets
Yearn provides three different types of wallets along with different benefits, such as vaults, YCRV, veYFI, and more.
2. Swap tokens
Pretty much similar to how you can trade on a decentralized exchange, Yearn Finance allows its users to swap Altcoins with high liquidity and low slippage.
3. Governing Model
Unlike other Yield Aggregators, the platform follows the “For the people by the people” model. In other words, Yearn Finance is a community-driven project, and YFI token (the native token of the platform) holders can participate in voting and governing protocols for future decisions.
4. Zap Integration and Analytics
Zap service is one of the most important features of the platform. It enables users to save on gas fees on each transaction. That’s not all. Users can also monitor their wallets directly from the platform dashboard.
Pros and Cons of Yearn Finance
Just like any other finance yield aggregator, it does have some pros and cons as well. Below, based on my research, I’m going to discuss both advantages and disadvantages so you can better decide whether it is beneficial or riskier to use Yearn Finance.
Pros:
- It helps crypto investors to earn rewards on their holdings which are dormant in their wallets while waiting for the rise.
- Yearn is a multi-chain project and is currently supported by Fantom, Arbitrum, and Ethereum Blockchain, with more continuously added.
- You can easily monitor the changes in your USD balance by connecting your wallet to some portfolio tracking product like Zapper.
- There are multiple types of wallets available in Yearn Finance to deposit your crypto assets, e.g., yVaults, yCRV, and yBribe. Each wallet has its benefits and ways that help you increase the yield.
- Being one of the top yield aggregators, Yearn Finance is a very versatile aggregator platform because the yield is optimized by combining many factors, including crypto lending, Ethereum staking, and yield farming pool, that gives the optimal rates for staking crypto.
Cons:
- Small investors can face impermanent loss and liquidation risks as the investment return will be lost in case of high volatility. Still, big investors who have greater control over assets can avoid such losses.
- There is a risk of attack by hackers.
Yearn Finance Conclusion
Keeping all above discussed facts in mind. It can easily be predicted that Yearn Finance has a great future ahead and also can be considered a good investment for the long term. With enhanced security features and the expected introduction of new tokens, the demand for YFI will increase significantly in the future.
We Coin-Labs.com provides only objective information about Yearn Finance.
Therefore, we are not responsible for the investment decision in Yearn Finance and the resulting loss.
Yearn Finance Basics
Here are some factors that investors should consider before investing in Yearn Finance.
| Cryptocurrency Features | Yearn Finance () |
|---|---|
| Publisher or Developers | |
| Headquarters (Registration Number) | |
| Symbol | |
| Platform | |
| Published Date (CMC Registration) | 2024-08-22 |
| Max Supply | No limit |
Reliability Score of Yearn Finance in 2024
These are indexes mesuring the investment reliability of Yearn Finance conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | / 10.0 CAR |
| Communication Rate | / 10.0 CR |
| Technology Transparency Rate | / 10.0 TTR |
| Development Participation Rate | / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 0 Exchanges |
| Number of Available Pairs Worldwide | 1 Pairs |
| Market Cap of the Cryptocurrency | 6,683,329 USD (Rank #1295) |
The table above shows the result of investment suitability evaluation for Yearn Finance.
Check out how we evaluate cryptocurrencies on the crypto rating description page.
Yearn Finance Price
Here are the price and recent trading volume of Yearn Finance. (Data of 2024-08-22 21:40:00)
| Price Items | Price and Trading Volume of Yearn Finance |
|---|---|
| Yearn Finance Price | 0.000 USD |
| Price Change 24h | 4.13% |
| Price Change 7d | -35.51% |
| Trading Volume 24h | 338 USD |
| Trading Volume Change 24h | 799.46% |
Cryptocurrency Metadata
You can check the development status and social media information of Yearn Finance through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | |
| 📖 White Paper | |
| 🛰️ Source Code (GitHub) | |
| 🎺 Message Board |
Where to Buy Yearn Finance
Here are the top ten world crypto exchanges where traders can buy Yearn Finance in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Not listed | |
| Coinbase | Not listed | |
| Kraken | Not listed | |
| KuCoin | Not listed | |
| Bitfinex | Not listed | |
| OKX | Not listed | |
| Huobi | Not listed | |
| Bitstamp | Not listed | |
| Bybit | Not listed | |
| Gate.io | Not listed |
Frequently Asked Questions
What is the current price of Yearn Finance?
Yearn Finance price today is 0.000 USD. Furthermore, the price of Yearn Finance has fluctuated by 4.13% from 24 hours ago, and by -35.51% from a week ago.
Where is Yearn Finance listed?
Currently, it is listed on a total of 0 among the world top 10 exchanges.
What is the market cap of Yearn Finance now?
Currently, Yearn Finance has a market cap of 6,683,329 USD, which is ranking 1295 among cryptocurrencies worldwide.
How much is the trade volume of Yearn Finance?
Currently, 0 coins are circulating through 1 market pairs. As a result, in the last 24 hours, 338 USD of coins were traded in the market.
