Is Yearn Finance Being Left Behind?

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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.

Jonathan

An editor at Coincrop

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Jonathan is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely sailing.