What Is Yearn Finance? The DeFi Gateway Everyone Is Talking About – CoinDesk – Coindesk

The Takeaway:

  • Yearn.Finance aspires to be the gateway to a bevy of yield-generating products in the Ethereum ecosystem.
  • After a rapid ascent in August 2020, there is now $650 million worth of crypto assets staked in Yearn, seeking the best returns in the booming decentralized finance (DeFi) sector.
  • The prospect of what one observer called an “intuitive interface to all of DeFi” is what makes Yearn and its YFI coin stand out from the recent crop of “Weird DeFi” projects.
  • But given that Yearn has several different elements, the platform is one of the harder ones for novice investors to understand.

Some $650 million has poured into DeFi’s Yearn.Finance since mid-August. DeFi is driving most of the excitement in crypto right now, and Yearn and its YFI token are central to the latest buzz.

That said, Yearn has a lot of moving parts and the platform is growing all the time, making it intimidating for rookie yield farmers to grok.

What is Yearn.Finance?

Most people who answer this question will say it’s a community-driven robo-adviser for yield (and it is), but the problem with this answer is that a DeFi n00b will go to the site and see all these options on the front page: Vaults, Earn, Zap, APR and Cover and wonder where to start.

So, really, Yearn.Finance is a portal to various DeFi products. And given that