Yearn.finance provides a range of DeFi products that offer yield generation, lending aggregation, and insurance on Ethereum.
What are Yearn Vaults?
One of Yearn’s most popular products - Yearn Vaults - allows you to easily get exposure to passive crypto investment strategies. They automatically find you opportunities in the market, adjusting their approach as market conditions change.
Yearn was launched in July 2020 and already has over $450 million worth of assets locked in its protocols. It was founded by Andre Cronje but is now community-led, with blockchain-based governance that uses the YFI token.
How to earn yield on USDC, DAI, ETH, or WBTC in Argent zkSync with Yearn
- Open your Argent zkSync wallet and go to Invest tab
- Tap the token you would like to invest > Yield Optimized
- Enter the amount of asset you would like to invest
- Tap Review
- Tap Invest now
Once the transaction has been completed you’ll receive yvUSDC, yvDAI, yvsteCRV, or yvWBTC based on the token you selected, representing the amount you have invested.
Yearn takes a 20% performance fee (deducted from the yield) and a 2% management fee (deducted from the total balance per year).
As we are using pooling to bring liquidity from L1 to L2, you pay a small gas fee to cover your share of the L1 transaction needed to rebalance the pool.
There are also zkSync network fees which will cost no more than a couple of dollars.
As always in crypto and DeFi, you should do your own research on the risks. These include smart contracts and the economics of the protocols. Yearn's audits can be found here.
The yield displayed in the Argent app accounts for the fees that Yearn takes. Balances are not updated regularly, but on a "fluctuating basis" which means APY displayed is estimated off historical data.
How Yearn access works via Argent on zkSync
ZkSync is just getting started and smart contracts are coming with version 2.0 in 2022 - until then, we’ve partnered with leading DeFi providers to bring a selection of popular investment options and utilize atomic swaps on zkSync - a trustless, peer-to-peer way to swap tokens between two parties.