summary: yEarn is a DeFi product providing lending aggregate, yield generation & insurance on the Ethereum blockchain. Originating as iEarn in 2020, yEarn was merged wit...
content: yEarn (launched July 2020) is a set of products in DeFi (Decentralized Finance) that at its core provides lending aggregation, yield generation, and insurance on the Ethereum blockchain. Yearn Finance and Pickle Finance MERGE - More Pickles, a little DILL and Cornichon Evil Jar Victims In November 2020, yEarn was merged with Pickle Finance, a yield farming protocol; Cream Finance, a lending protocol; COVER Protocol, Akropolis, and with Uniswap fork SushiSwap. as was announced by the Founder Andre Cronje. Background This was previously known as iEarn, yEarn Finance was created by a single developer, Andre Cronje. After suffering an exploit in February 2020, Andre announced he was stepping away from the project after facing backlash from the community. He later returned and the project re-branded to yEarn Finance introducing a suite of new tools such as Earn, Vaults, yInsure, and StableCredit. The project rose to prominence after introducing its native YFI token. Prior to its launch, the protocol had around $8 million in assets under management which rose to over $400 million within the first week. Anyone who deposited liquidity on Curve yPool and YFI Balancer pool within the first week of the launch was qualified to claim YFI. On September 17, 2020, Cronje introduced SyntheticRebaseDollar, a rebase index that allows the user to deposit collateral, and withdrawal their desired token that is on the list of this particular index. There are currently no plans for this product.