[{"data":1,"prerenderedAt":326},["ShallowReactive",2],{"api/learn-center-post-en-GB-what-is-yearn-finance-yfi":3,"en-gb/learn/cryptocurrency-guide/what-is-yearn-finance-yfi-en-GB-seo":57,"footer-en-GB":62,"navigation-en-GB-learn-center":235,"api/learn-categories-en-GB":286},{"seo":4,"locale":28,"breadcrumbs":29,"excerpt":37,"featuredImage":38,"components":39,"title":5,"formattedPublishedAt":50,"geofencings":51,"category":52,"pagination":54,"campaignExternalId":8},{"title":5,"metaTitle":6,"metaDescription":7,"keywords":8,"metaRobots":8,"structuredData":9,"metaImage":10,"metaSocial":18,"canonicalURL":8,"localizations":19},"What is Yearn Finance? (YFI)","What is Yearn Finance? (YFI) | Bitstamp by Robinhood ","What is Yearn Finance? How does YFI work? Read our guide to Yearn Finance and start trading YFI on Bitstamp by Robinhood – the original crypto exchange.",null,{},{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},"bitstampImageUrl/What_is_yearnfinance_YFI_png_bb283b2702_8b76ad6e91.png","image/png",".png",1920,1080,"What_is_yearnfinance_YFI_png_bb283b2702.png","",[],[20,23,26],{"pathname":21,"locale":22},"/learn/cryptocurrency-guide/what-is-yearn-finance-yfi/","en",{"pathname":24,"locale":25},"/es/learn/cryptocurrency-guide/what-is-yearn-finance-yfi/","es",{"pathname":27,"locale":28},"/en-gb/learn/cryptocurrency-guide/what-is-yearn-finance-yfi/","en-GB",[30,34],{"id":31,"text":32,"url":31,"asUrl":33},"/learn/cryptocurrency-guide/","Cryptocurrency guide",true,{"id":35,"text":5,"url":27,"asUrl":36},"what-is-yearn-finance-yfi",false,"\u003Cp>Yearn Finance is yield aggregator that automatically seeks out profit-generating strategies for crypto users through smart contracts which integrate with multiple other decentralized finance (DeFi) platforms.\u003C/p>\n",{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},[40],{"component":41,"props":42,"content":43,"secondaryContent":47,"ctas":48,"secondaryCtas":49,"ctasNoMarginTop":36},"section.full-text",{"centered":36,"withoutSectionContainer":36},{"text":44,"width":45,"align":46},"\u003Cp>Yearn Finance is yield aggregator that automatically seeks out profit-generating strategies for crypto users through smart contracts which integrate with multiple other decentralized finance (DeFi) platforms.\u003C/p>\n\u003Cp>Decentralized finance (DeFi) gives crypto users multiple opportunities to increase their crypto holdings. Reward-generating strategies are some of the most popular ways to use DeFi, whether through decentralized lending and borrowing, providing liquidity to an automated market maker platform, or seeking out the highest incentives offered by DeFi protocols.\u003C/p>\n\u003Cp>Yearn Finance (sometimes stylized yearn.finance) aims to find the best opportunities for rewards and assemble them into one easy-to-use place for DeFi users. This makes its platform a \u003Cstrong>yield aggregator\u003C/strong>.\u003C/p>\n\u003Cp>Although users can manually try to find opportunities like this across DeFi apps (called \u003Ca href=\"/en-gb/learn/web3/what-is-yield-farming/\">\u003Cem>yield farming\u003C/em>\u003C/a>), Yearn instead allows them to deposit funds into vaults, called yVaults, which use different strategies in an attempt to earn passive income on their crypto holdings.\u003C/p>\n\u003Cp>Yearn’s Ethereum-based token, YFI, allows its holders to participate in governance and decision-making on the platform.\u003C/p>\n\u003Ch2>How was Yearn Finance developed?\u003C/h2>\n\u003Cp>Yearn was initially launched in early 2020 by South African computer scientist Andre Cronje, who is also known for co-founding the \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-fantom-ftm/\">Fantom\u003C/a> blockchain. Originally named iEarn.finance, the project saw almost immediate success, with its YFI token—released in July 2020—reaching a \u003Ca href=\"/en-gb/learn/crypto-trading/what-is-market-cap/\">market cap\u003C/a> of over $1 billion by August that year. Despite its meteoric rise, Cronje announced in October 2020 that he would be leaving the project and \u003Ca href=\"/en-gb/learn/web3/what-is-decentralized-finance-defi/\">DeFi\u003C/a> altogether, but later would work on other projects like Fantom—only to step away again in 2022.\u003C/p>\n\u003Cp>Although many projects reserve some of its supply of tokens for founders, investors, and the development team, Yearn approached its YFI token distribution with a “fair launch.” Through this process, all YFI were distributed to users of Yearn for providing liquidity or staking through the platform.\u003C/p>\n\u003Cp>Yearn has continued to grow despite the departure of its founder, and its community has guided the project into a period of stable operation. Although it was built on Ethereum, it has expanded to include support for other chains including Fantom and \u003Ca href=\"/en-gb/learn/blockchain/what-are-layer-2-solutions/\">layer 2 solutions\u003C/a> like Arbitrum and Optimism.\u003C/p>\n\u003Ch2>How does Yearn Finance work?\u003C/h2>\n\u003Cp>Yearn’s platform is designed to collate reward-generating opportunities across DeFi. This means that it capitalizes on other protocols like the stablecoin \u003Ca href=\"/en-gb/learn/web3/what-is-a-decentralized-exchange-dex/\">decentralized exchange (DEX)\u003C/a> Curve, \u003Ca href=\"/en-gb/learn/web3/what-is-decentralized-lending-and-borrowing/\">lending/borrowing\u003C/a> platforms \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-aave/\">Aave\u003C/a> and \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-compound-comp/\">Compound\u003C/a>, the \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-the-dai-stablecoin/\">DAI\u003C/a>-issuing protocol \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-makerdao-mkr/\">Maker\u003C/a>, and more. This simplifies the process of yield farming by finding the most profitable DeFi strategies and compiling them on one platform.\u003C/p>\n\u003Cp>yVaults, yCRV, and yBribe are three primary products offered by Yearn.\u003C/p>\n\u003Ch3>yVaults\u003C/h3>\n\u003Cp>Users can deposit their crypto into yVaults for Yearn to find the highest earning strategies and return those rewards to them. By depositing DAI, for instance, a user receives yvDAI in return—a token that gives them the opportunity to collect a reward from the DAI yVault.\u003C/p>\n\u003Cp>For this service, yincurs a performance fee (and sometimes a management fee) that comes out of the rewards paid out to the depositors. Performance fees are paid to \u003Cem>strategists\u003C/em>, who create vetted strategies implemented on the platform.\u003C/p>\n\u003Cp>There can be up to 20 strategies used at any time by a yVault, diversifying rewards across multiple platforms and sources. Strategies can be as simple as depositing in the best liquidity pools, which may change over time.\u003C/p>\n\u003Cp>Alternatively, strategies can also involve multiple steps. For example, a yVault may both supply and borrow a \u003Ca href=\"/en-gb/learn/crypto-101/what-are-stablecoins/\">stablecoin\u003C/a> on a lending platform like Aave, while also supplying collateral to the Maker protocol to mint DAI and “flashloan” it (a loan that is paid back within the same blockchain transaction) to the same position on Aave. This type of strategy shows that using multiple platforms and methods can boost rewards.\u003C/p>\n\u003Ch3>yCRV\u003C/h3>\n\u003Cp>Among all DeFi protocols, Yearn is perhaps most intertwined with the stablecoin DEX, Curve Finance, and offers unique opportunities to holders of Curve’s governance token CRV.\u003C/p>\n\u003Cp>Yearn’s yCRV system allows users to use special tokens/yVaults that have different functions.\u003C/p>\n\u003Cul>\n\u003Cli>\u003Cstrong>yCRV\u003C/strong> – Token used on the platform to interact with Yearn’s other Curve-based offerings. Can be minted by permanently locking CRV to Yearn’s position in Curve’s locked voting token called veCRV (vote-escrowed CRV).\u003C/li>\n\u003Cli>\u003Cstrong>st-yCRV\u003C/strong> (staked yCRV) – Tokens that generate rewards from Curve admin fees and governance votes.\u003C/li>\n\u003Cli>\u003Cstrong>lp-yCRV\u003C/strong> (liquidity pool yCRV) – Tokens that generate rewards from providing liquidity in Curve’s CRV/yCRV pool.\u003C/li>\n\u003C/ul>\n\u003Ch3>yBribe\u003C/h3>\n\u003Cp>Yearn’s final offering involves the use of veCRV.\u003C/p>\n\u003Cp>Holders of veCRV, who have the power to vote in Curve governance proposals, can earn rewards through Yearn’s yBribe platform by selling their votes to the highest bidders who, in turn, can vote on how CRV rewards are allocated.  \u003C/p>\n\u003Ch2>How is the YFI token used?\u003C/h2>\n\u003Cp>YFI was originally designed as a token to reward early users for adopting Yearn’s platform, which caused an influx of users.\u003C/p>\n\u003Cp>Once YFI was fully distributed, YFI holders are now responsible for governing Yearn’s platform through a \u003Ca href=\"/en-gb/learn/crypto-101/what-are-decentralized-autonomous-organizations-dao/\">decentralized autonomous organization (DAO).\u003C/a> They do this by first locking their YFI on the platform in the form of voting escrow YFI (veYFI).\u003C/p>\n\u003Ch3>Token distribution\u003C/h3>\n\u003Cp>YFI has a total supply of 36,666 tokens. Upon inception, Yearn’s token distribution initially allocated 10,000 YFI to the yCRV liquidity pool, and 10,000 YFI to two separate Balancer liquidity pools.\u003C/p>\n\u003Cp>Soon afterwards, YFI holders voted to mint an additional 6,666 YFI tokens to help safeguard the future development of the protocol. One-third of these tokens were then vested by key protocol contributors, with the remaining two-thirds deposited into the platform's governance-operated treasury.\u003C/p>\n\u003Ch2>Yearn Finance Essentials\u003C/h2>\n\u003Cul>\n\u003Cli>Yearn Finance is a “yield aggregator” that allows users to generate crypto rewards through automated yield farming using DeFi protocols like Curve, Compound, Maker, and Aave.\u003C/li>\n\u003Cli>Yearn uses multiple strategies—often simultaneously—to help users seek out the most rewards, and its offerings include interest-bearing yVaults, multiple Curve-based yCRV tokens, and a system for auctioning veCRV voting power.\u003C/li>\n\u003Cli>Although the YFI token was originally used as incentives for using Yearn, all YFI tokens have been distributed and it is now used for governance of the platform.\u003C/li>\n\u003C/ul>\n\u003Cp>This webpage has been approved as a financial promotion by Bitstamp UK Limited which is registered with the UK’s Financial Conduct Authority. Please read the \u003Ca href=\"/legal/risk-warning/\" rel=\"nofollow\">Risk Warning Statement\u003C/a> before investing. Cryptoassets and cryptoasset services are not regulated by the Financial Conduct Authority. You are unlikely to be protected if something goes wrong. Your investment may go down as well as up. You may be liable to pay Capital Gains Tax on any profits you earn.\u003C/p>\n","full","left",{"text":17},[],[],"July 29th, 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Kingdom",{},{},{"title":195,"content":17,"items":196},"Contact",[197,202,206,210,214,218,223,228],{"noFollow":36,"isExternal":36,"name":198,"value":199,"isEmail":36,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":200,"geofencings":201},"Customer support","/customer-support/",{},{},{"noFollow":36,"isExternal":36,"name":203,"value":203,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":204,"geofencings":205},"info@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":207,"value":207,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":208,"geofencings":209},"press@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":211,"value":211,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":212,"geofencings":213},"support@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":215,"value":215,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":216,"geofencings":217},"complaints@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":219,"value":220,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":221,"geofencings":222},"+44 20 3868 9628","+442038689628",{},{},{"noFollow":36,"isExternal":36,"name":224,"value":225,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":226,"geofencings":227},"+1 800 712 5702","+18007125702",{},{},{"noFollow":36,"isExternal":36,"name":229,"value":230,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":231,"geofencings":232},"+352 20 88 10 96","+35220881096",{},{},"\u003Cp>Please read the general \u003Ca href=\"/legal/risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Warning\u003C/a>, and \u003Ca href=\"/legal/uk-investment-risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Summary\u003C/a> for UK residents before investing in crypto-assets. \u003C/p>\n\u003Cp>Crypto-assets services are provided by the following Bitstamp legal entities depending on client residency: (1) Bitstamp Europe S.A., which is authorized by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg as a payment institution (licence number Z00000012) and crypto-asset service provider (licence number N00000003); Registered address: 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg; Registration number: B196856; (2) Bitstamp UK Ltd., which is registered with the Financial Conduct Authority (FCA) in the UK for the provision of certain cryptoassets activities under the Money Laundering Regulations (Firm Reference Number 978690); Registered address: 5 New Street Square, EC4A 3TW London, United Kingdom; Registration number: 14174243; (3) Bitstamp Ltd.with its registered address at 5 New Street Square, EC4A 3TW London, United Kingdom and registration number: 8157033; (4) Bitstamp Global Ltd., which is registered as a Virtual Asset Service Provider in the British Virgin Islands and is supervised by the British Virgin Islands Financial Services Commission (FSC); Registered address: Floor 4, Banco Popular Building, Road Town, Tortola VG1110, British Virgin Islands; Registered number: 2086429; and (5) Bitstamp Asia Pte Ltd, which is authorized by the Monetary Authority of Singapore (MAS) as a major payment institution (licence number PS20200667); Registered address: 63 Chulia Street, OCBC Centre East, #15-01, Singapore 049514; Registered number: 202016687K;\u003C/p>\n\u003Cp>Virtual currency services to US residents are provided by Bitstamp USA, Inc., which is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Licensed as a Money Transmitter by the New York State Department of Financial Services. Review a \u003Ca href=\"/legal/usa-inc/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">list of its licenses and other registrations\u003C/a> (NMLS number \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">1905429\u003C/a>) for more information; Registered address: 85 Willow Road, Menlo Park, CA 94025, United States of America; Registered number: 5481543.\u003C/p>\n\u003Cp>Investment services with regards to trading in crypto derivatives are provided by Bitstamp Financial Services Ltd., which is authorized and supervised by the Slovenian Securities Market Agency (ATVP) as a MiFiD investment firm. Trading crypto derivatives carries significant risks and may result in substantial losses. Please trade responsibly and ensure you understand the associated risks. You can find more about the risks \u003Ca href=\"/legal/financial-services/general-terms-and-conditions/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>. To help you understand the risks involved we have put together a series of \u003Ca href=\"/derivatives/key-information-documents/\" target=\"_blank\" rel=\"noopener noreferrer\">Key Information Documents (KIDs)\u003C/a> highlighting the risks and rewards related to each derivatives contract. Crypto derivatives trading is not available to customers in the US, Canada, Japan and some other countries. Bitstamp Financial Services Ltd. does not provide crypto-asset services.\u003C/p>\n\u003Cp>To find out more about which Bitstamp entity you receive services from, please check the Profile/My information in your Bitstamp account. You can read more about our legal terms, policies and disclosures \u003Ca href=\"/legal/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>.\u003C/p>\n","\u003Cp>All rights reserved © 2026 Bitstamp by Robinhood. \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">NMLS #1905429\u003C/a>\u003C/p>\n",{"items":236,"ready":33,"platformButtonText":282,"backButtonText":283,"logInButtonText":284,"signUpButtonText":285},[237,242,248,251,255,260,265,268,273,278],{"headerName":238,"sidemenuName":119,"url":239,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":240,"submenu":241,"tag":17},"Institutions","/en-gb/institutional-trading/",{},[],{"headerName":243,"sidemenuName":243,"url":244,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":245,"submenu":246,"tag":247},"Derivatives","/perpetual-futures/",{},[],"NEW",{"headerName":134,"sidemenuName":134,"url":135,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":249,"submenu":250,"tag":17},{},[],{"headerName":252,"sidemenuName":252,"url":107,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":253,"submenu":254,"tag":17},"Mobile App",{},[],{"headerName":256,"sidemenuName":256,"url":257,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":258,"submenu":259,"tag":17},"Markets","/markets/",{},[],{"headerName":261,"sidemenuName":261,"url":262,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":263,"submenu":264,"tag":17},"Earn Stake","/en-gb/crypto-staking/",{},[],{"headerName":111,"sidemenuName":111,"url":112,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":266,"submenu":267,"tag":17},{},[],{"headerName":269,"sidemenuName":269,"url":270,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":271,"submenu":272,"tag":17},"Blog","https://blog.bitstamp.net/",{},[],{"headerName":274,"sidemenuName":274,"url":275,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":276,"submenu":277,"tag":17},"Learn","/learn/",{},[],{"headerName":279,"sidemenuName":279,"url":107,"noFollow":36,"showInHeader":36,"showInSidemenu":33,"geofencings":280,"submenu":281,"tag":17},"Get Bitstamp by Robinhood app",{},[],"Go to platform","Back","Log in","Get started",[287,291,295,299,303,307,310,314,318,322],{"title":288,"url":289,"geofencings":290},"Blockchain technology","/en-gb/learn/blockchain/",{},{"title":292,"url":293,"geofencings":294},"Company profiles","/en-gb/learn/company-profiles/",{},{"title":296,"url":297,"geofencings":298},"Crypto 101","/en-gb/learn/crypto-101/",{},{"title":300,"url":301,"geofencings":302},"Crypto definitions","/en-gb/learn/crypto-definitions/",{},{"title":304,"url":305,"geofencings":306},"Crypto trading","/en-gb/learn/crypto-trading/",{},{"title":32,"url":308,"geofencings":309},"/en-gb/learn/cryptocurrency-guide/",{},{"title":311,"url":312,"geofencings":313},"People profiles","/en-gb/learn/people-profiles/",{},{"title":315,"url":316,"geofencings":317},"Security","/en-gb/learn/security/",{},{"title":319,"url":320,"geofencings":321},"Tutorials","/en-gb/learn/bitstamp-tutorials/",{},{"title":323,"url":324,"geofencings":325},"Web3","/en-gb/learn/web3/",{},1776163489797]