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Earn Up To 20% APY Yearn Finance on Fizen

Fizen.io

Fizen.io

— 4 min read
Earn Up To 20% APY Yearn Finance on Fizen

Ready to make your crypto work harder for you? Fizen is excited to announce the integration of Yearn Finance, a powerful tool that helps you earn passive income on your crypto assets. Even if you're new to the world of DeFi (Decentralized Finance), Yearn's user-friendly interface within the Fizen app makes it easy to get started.

What is Yearn Finance?

Think of Yearn Finance as a robo-advisor for your crypto. It's a decentralized platform that automatically finds the best places to earn interest on your digital assets. It does all the complicated work for you, so you can sit back and watch your crypto grow.

Yearn Finance, launched in 2020 by Andre Cronje, has quickly become a cornerstone of the decentralized finance (DeFi) landscape. Initially starting as a yield aggregator, Yearn has evolved into a comprehensive ecosystem of DeFi products and services, managed by a decentralized autonomous organization (DAO). It simplifies the complexities of DeFi, allowing users to easily access sophisticated investment strategies and earn passive income on their crypto assets. With a current market capitalization of $225 million and a total value locked (TVL) of $230 million—meaning users have entrusted $230 million worth of crypto to the protocol—Yearn has established itself as a trusted and significant player in the DeFi space. This impressive TVL underscores the community's confidence in Yearn's ability to generate attractive yields and provide secure access to the world of decentralized finance.

How Does it Work?

Yearn Finance uses smart contracts (automated programs on the blockchain) to move your assets between different lending and borrowing platforms, always seeking out the highest possible yields (interest rates). It's like having a super-smart financial manager working 24/7 to maximize your earnings.

What's the APY (Annual Percentage Yield)?

The APY you can earn with Yearn varies depending on the asset you deposit and market conditions. It can fluctuate up and down, but historically, Yearn has offered some of the most competitive yields in the DeFi space. You can always see the latest APYs displayed directly within the Fizen app.

What are the Fees?

Yearn Finance charges fees to cover the costs of running the platform and compensates the developers who keep it running smoothly. These fees are typically a small percentage of your earnings and are automatically deducted. Again, these fees are clearly displayed in the Fizen app before you deposit.

Where Does the Yield Come From?

The yield generated by Yearn Finance comes from several sources:

  • Lending and Borrowing Platforms: Yearn lends your deposited crypto assets to borrowers on other DeFi platforms, earning interest in return.
  • Trading Strategies: Yearn also employs sophisticated trading strategies to generate additional yield, such as arbitrage and yield farming.

What are yVault Tokens?

When you deposit your crypto assets into Yearn, you'll receive yVault tokens in return. These tokens represent your share of the vault (pool of assets) and allow you to easily track your earnings and withdraw your funds whenever you like. Note that the crypto assets in the vault increase constantly as the yield is generated. That means the amount of yVault token and your amount of underlying assets are not a 1:1 ratio.

For example, you deposit 10ETH in the ETH Vault and then receive about 9.8 yvETH back. That’s because yvETH token value constantly goes up in value compared to the ETH price. So in general 10ETH is equal to 9.8 yvETH in dollar value.

What are the Risks?

While Yearn Finance has a strong track record, it's important to understand the risks involved in any DeFi investment:

  • Smart Contract Risks: There's always a risk of bugs or vulnerabilities in smart contracts, which could potentially lead to loss of funds. Yearn has undergone extensive audits to mitigate these risks, but they can never be entirely eliminated.
  • Market Risks: Cryptocurrency prices can be volatile, affecting the value of your deposit and your earnings.
  • Platform Risks: While Yearn is decentralized, there's always a risk of platform-specific issues, such as governance disputes or technical problems.

Getting Started with Yearn Finance on Fizen

Integrating your crypto with Yearn Finance on Fizen is easy. Just navigate to the "Saving" section of your Fizen app, click “Earn via Yearn”, select the assets you want to deposit, input the deposit amount, verify the information, and confirm the transaction. It's that simple!

Fizen is thrilled to bring you this powerful tool to maximize your crypto earnings. With Yearn's easy-to-use interface within the Fizen app, even Web2 users can unlock the potential of DeFi and start earning passive income on their digital assets. Remember to always do your own research, understand the risks involved, and invest responsibly.

Disclaimer: Fizen integrates directly with Yearn Finance to provide you with seamless access to its yield-generating strategies. It's important to understand that Fizen acts solely as an intermediary, facilitating your interaction with the Yearn protocol. Fizen does not charge any additional fees for using this feature, nor does Fizen profit from your deposits on Yearn. Our goal is to empower you with valuable tools to manage and grow your crypto assets. As such, you are solely responsible for conducting your own research, understanding the risks associated with Yearn Finance and DeFi investments in general, and making informed decisions about your deposits.

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