BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

Yearn Finance is Slashing Vault Fees

by Dalmas Ngetich
Sep 2, 2022 - 12:00 am
in Blockchain
Yearn Finance is Slashing Vault Fees

The beginning of September brought with it an exciting development. Yearn Finance, a hub of decentralized protocol that enables earning passive income through yield farming, has decided to slash management fees on vaults like ETH, DAI, USDC, and some other notable ones.

Fee lovers, look away now.

We’re cutting management fees on key vaults like ETH, USDC, DAI, and more.

Cutting fees is part of a longer term product vision to keep building innovative automated products that focus on performance. At least until the smart contracts unionise. pic.twitter.com/JNcwB5J1s4

— yearn (@yearnfi) September 1, 2022

This decision resulted from integrating smart contract functionalities into their network and using it to replace the individuals that managed the vault pools.

Through this singular action, the platform can cut down on fees since smart contracts operate autonomously. This would save the protocol extra costs that would have been spent on salary increments and bonuses.

The vault is one out of the three services on this platform and functions more like saving accounts in a bank, only this time with digital assets.

In addition, there are strategies to manage the assets in the vaults, and each user is responsible for managing their assets and choosing the strategies that suit them best.

Currently, the platform offers 10 different strategies to various users. Yield Finance also assists its customers with auto compounding, rebalancing, and capital shifting.

The platform also offers a lending service called Iron Bank. It is a feature that allows both protocols and users to borrow against their cryptocurrencies for a specific period. 

Additionally, Yearn Finance offers zero-collateral loans, but the service is only available to some specific whitelisted protocols.

Finally, they offer the Earn service. A lending aggregator that can move funds between several platforms. 

All users who deposit funds into these aggregators earn interest, and its smart contract functionalities ensure they get the highest rate available.

The Yearn Finance platform was built on the Ethereum network as a DeFi tool that intends to break down the complexities of yield farming. 

They make it easy for users to interact with DeFi and simultaneously offer a 2-in-1 service of swapping and farming.

Tags: Blockchain
Dalmas Ngetich

Dalmas Ngetich

His primary focus is on technical analysis (crypto is, obviously, *not* crypto without the twirls of price action), the magic of DeFi, and NFTs. He is specifically training his eyes and effort on DeFi—and how the tech is changing investment, opening up opportunities for everyone—and the possibilities of NFTs.

Related Posts

Exterior view of the Czech National Bank building in Prague, symbolizing the institution’s financial strategies and innovation.

Bank of England Governor Says Stablecoins Could Reduce Reliance on Banks

October 1, 2025

Andrew Bailey says stablecoins could reduce UK reliance on commercial banks by separating money from credit, signaling a...

blockchain

Spacecoin Executes First Blockchain Transaction Through Space

October 1, 2025

Spacecoin has achieved the first-ever blockchain transaction through space using a nanosatellite, marking a milestone for decentralization and...

The headquarters of the Autorité des Marchés Financiers (AMF) Investor in Paris, France, the regulatory body warning investors against ByBit.

French Officials Pressured Telegram to Censor Moldova Election Posts: Durov

September 28, 2025

Pavel Durov revealed French intelligence pressured Telegram to censor Moldova election content in 2024, which he refused, citing...

Wall Street financial district with Bitcoin symbol representing institutional adoption

Bitcoin skepticism fades as nations gear up for adoption, says Samson Mow

September 28, 2025

Samson Mow predicts nation-states will move from skepticism to rapid Bitcoin adoption, fueling global FOMO and a rush...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service