Is Yearn Finance Being Left Behind?
Share this article
An editor at Coincrop
01 Sept 2022 | 2 min read
s DeFi heavyweights such as Aave, MakerDAO, and Uniswap keep growing, is Yearn Finance being left in the dust? This week celebrating its two-year anniversary, YEarn has fallen out of public eye. In fact, total value locked (TVL) has Dropped by 51% this year even when measured in ETH terms according to DeFi Llama.
The price of USD-denominated TVL has dropped by 86% in the same time period, as depressed crypto currency prices contribute to the fall. According to The Defiant's newly launched charting feature, Yearn's YFI token hasn't done much better, performing worse than the top five assets in the DeFi Pulse Index year-to-date and BTC and ETH thus far this year.
Yearn Finance was launched in 2020 by founder Andre Cronje, and it has always been an outlier protocol. It was the first of its kind created to automatically shuffle assets across other protocols with the ultimate goal of increasing profits for investors.
In addition, Yearn has a strong treasury. According to a graphic published by The Block, the yield aggregator's treasury experienced the smallest percentage change from January to June compared to other major DeFi projects.
CoinLoan combine the best of traditional and novel finance helping you borrow, swap and grow your assets.
Compare over 47,277 CeFi and DeFi products across more than 226 organizations here