what's yearn?
Yearn Finance is a decentralized finance (DeFi) protocol designed to simplify yield farming by automating the process of moving users' funds between various lending protocols to maximize returns. Launched in 2020 by Andre Cronje, it features automated vaults where users deposit stablecoins or other assets, and the protocol strategically allocates them to the highest-yielding opportunities while minimizing risks like impermanent loss. The native governance token, YFI, allows holders to participate in decision-making, including proposals on revenue distribution and protocol upgrades. Key features include yield optimization strategies, automated compounding of rewards, and integration with ecosystems like USDaf for enhanced liquidity and revenue generation. Despite peaking at over $7 billion in total value locked (TVL) in 2021, current deposits are around $546 million, with recent updates focusing on boosted rewards for staked YFI and new collateral uses on platforms like Morpho.
Yearn launched stYFI governance token today, following $5M in 2025 revenues.
contract
ethereum
xdai
optimistic-ethereum
energi
huobi-token
fantom
near-protocol
harmony-shard-0
base
sora
avalanche
polygon-pos
arbitrum-one
Supports pmUSD liquidity positions from Curve pools, enabling users to route LP positions through Yearn for yield strategies on the gold-backed stablecoin.
Deployed unaudited proof-of-concept self-elected fixed-rate money markets called FlexMeow on mainnet.
Distributes revenues to stakers of YFI, veYFI, and liquid locker YFI tokens.
Is collaborating with the Sonic team on the Flying Tulip protocol, a new on-chain exchange for trading, perpetuals, lending, stablecoins, and multiple markets built by Andre Cronje.
Automates lending, light looping, and RWA/T-bill integrations in vaults deployed on Ethereum and Base, delivering base yields of 5-12% and leveraged vault yields of 18-30%.
Secured $36M in scrvUSD through a savings vault built for Curve Finance's crvUSD.
Integrated with Catana's Telegram Yield Bot, allowing users to deploy ETH into Yearn strategies directly through Telegram alongside Morpho and Sushi strategies within the Katana ecosystem.
Partnering to establish connection to the real world.
Partnered with Katana and Jumper Exchange to distribute $270k in KAT tokens through a promotional campaign involving deposits into the Yearn USDC vault on Jumper Earn.
Deployed to Rise Chain with RiseXTrade and Spine Protocol for yield integration.
Sponsors an athletic event at ETH Denver during the winter season.
Launched an experimental vault in collaboration with CowboyVaults that uses Rocket Pool's rETH as collateral on Liquity Protocol v2 to mint BOLD and supply into the yBOLD vault (Stability Pool).
Generated approximately $5 million in revenues in 2025.
Launched stYFI governance token on February 5, 2026, phasing out veYFI. Epoch 0 of the veYFI to stYFI migration ends February 19, 2026, with a governance proposal discussion at StakeDAO regarding the sdYFI locker.
Reached approximately $972M in total value powered by Yearn V3 as of January 28, 2026.
Collaborates with Origin Protocol on OUSD roadmap
yYB vault crosses 1 million YB locked
Integrated with Privacy Pools to enable private deposits and withdrawals, allowing users to break onchain links between source and destination addresses on Arbitrum.
Published first Weekly Blue Pill on January 5, 2026.
Featured as a farming opportunity in a user's portfolio list alongside other protocols, with mention of set-and-forget vault strategy and content creation for yapper leaderboard.
Suffered an exploit on the legacy iEarn Finance TUSD contract (deployed over 2100 days ago, unrelated to current Yearn vaults) resulting in a loss of approximately $300K, with the exploiter swapping stolen funds for 103 ETH.
Yearn and Assymetry launch a new protocol together.
Yearn experienced recent exploits alongside Balancer, with post-mortem explanations circulating in the community. (ID: 2000693406805451036)
Launches stablecoin yield offering with Morpho.
Yearn vaults yvvbUSDC and AUSD on Katana offer 15% yields through Spectra Finance with $1M and $200K liquidity respectively, running until February.
DeFiSaver integrates Yearn V3 vaults into their refreshed Smart Savings dashboard alongside other protocols including Steakhouse/Morpho, Sky, and Spark.
Yearn generates $68.5K revenue on Katana network in November, up 5.3%, capturing 83.8% of application revenue on the network.
Yearn-curated OEV-boosted USDC vault on Morpho receives an A rating alongside vaults from Stakehouse and Gauntlet.
Katana's KAT vault boosting program receives an extension, with yvvbTokens earning native Katana L2 yield, VaultBridge donations, and boosted KAT rewards.
$YFI breaks support and lows maintained since 2022 or 2023 as part of total altcoin annihilation since 10/10.
Post-mortem reveals three-phase attack exploited stableswap pool through arithmetic underflow enabling infinite LP token minting at block 23,914,086, with attacker sending 1,000 ETH to Tornado Cash on Nov 30 and remainder on Dec 5. V2 and V3 vaults remain unaffected, with recovered funds planned for pro rata distribution.
Yearn partners with dTRINITY_DeFi and Morpho to provide earning opportunities while borrowing on Katana platform.
Official incident disclosure posted for the yETH hack, with recovery of 857.49 pxETH achieved through collaboration with Plume and Dinero teams.
The total exploit amount was $9M, with $2.4M of the stolen tokens burned from the hacker's wallet.
The project operates a $200k bug bounty program that has been paid out multiple times, with a strong track record of payments to whitehat security researchers.
$2.4 million in stolen assets recovered following the exploit caused by an unchecked arithmetic bug.
The yETH exploit represents the third hack of a Yearn product since 2021.
Official post-mortem for the yETH exploit remains in progress, with the team identifying unsafe math operations as the technical vulnerability that enabled the attack.
TVL remains above $600M following the exploit. $YFI price jumped from $4,080 to $4,160 as panic short positions were squeezed.
Exploit drained $8M from yETH pool and ~$900K from yETH-WETH pool on Curve in 2025, despite audits, with attacker self-destructing contracts.
yUSND and Nerite's yearn vault remain unaffected by the yETH exploit.
Suffered $9M yETH exploit on November 30, 2025, due to unsafe arithmetic and an open bootstrap path. Loss includes ~1K ETH (~$3M) sent to Tornado Cash and ~$6M held by the exploiter.
Yearn Curated Morpho vaults confirmed safe following the yETH hack, as yETH/st-yETH was not used as collateral on any markets.
yETH LST stableswap pool confirmed hacked through infinite mint exploit resulting in $3 million ETH sent to Tornado Cash. Yearn Vaults V2 and V3 remain unaffected by the incident.
Reports emerge of a possible Balancer-related exploit with Tornado Cash connections affecting Yearn and other LST protocols. The extent of impact on Yearn remains unconfirmed.
Partnered with Term Labs to add USDS fixed-rate lending vaults on V3 using the TokenizedStrategy pattern, reaching over $18M in automated fixed-rate yield.
Yearn releases incident disclosure report detailing losses incurred while auctioning yUSND (the Nerite yBOLD variant) for USND.
Octant Vaults launches built on Yearn v3 infrastructure.
Almanak Ecosystem uses Yearn v3 as one of six protocols in its alUSD vault automated yield strategy with $124M TVL and 13.5% APY.
Between November 12-19, Katana vault bridge tokens received $42k in total donations from yield (3.6 ETH, 21k USDC, 3k USDT, 7k AUSD, 0.003 WBTC) distributed to yvvbToken holders.
Fraction AI launched Stable-Up, using autonomous AI agents to allocate stablecoin deposits across DeFi protocols including Yearn Finance on Base, Moonwell, Silo, Morpho, Euler, and Avantis, targeting 7-8% APY yields.
Superform goes live on Polygon featuring Yearn earning opportunities alongside Aave, Morpho, and Fluid, with fiat onboarding and single-transaction cross-chain deposits.
Katana Vault Bridge Rewards expand to Sushi LPs (USDC/WETH, USDC/WBTC) and Spectra LPs (yvvbUSDC, yvvbUSDT, yvvbETH), distributing Ethereum-based Yearn yield to boost DeFi returns on Katana with stacked rewards.
USDT and USDC vaults launch on Katana platform with 40% APY, combined with Morpho negative borrow rates (~2%) for leveraged yield strategies.
Octopad wins a competition entry with a token launchpad that routes fees and vests into Yearn vaults managed on Kalani through Octant's YieldDonatingStrategy, utilizing Uniswap v4 hooks to capture swap fees.
A major frontend update launches with direct $yBOLD access, redemptions functionality, improved earn screen, and enhanced liquidation position data.
Partnership with Robin Markets launches a USDCe-based strategy for earning yield on Polymarket positions.
A Yearn USD vault on Turtle protocol offers 40.8% APY.
New OP incentives launch on the Yearn-curated superOETHb/USDC Borrow Booster market on Morpho Labs, adding to existing negative borrow rates subsidized by Super OETH yield.
Performance reached over 6% for the trailing 30 days, and a partner program reboot with fee-splitting launches soon.
$SKY vault offers approximately 20% APY with room for additional deposits.
Superform v2 goes live on Arbitrum, integrating Yearn vaults with cross-chain deposit functionality alongside Aave, Morpho, Euler, Fluid, and Curve.
Yearn vault operations remain unaffected by Balancer v2 exploit and ranks among the three largest vault curators on Katana platform alongside Gauntlet and Steakhouse.
Yearn Degen USDC vault on Morpho Arbitrum offers ~17.55% APY and Theo points farming through integration with Theo Network's thBill token.
Yearn vaults operate on Katana platform, lending deposits on Morpho across mainnet and Katana networks, with depositors receiving KAT token rewards as incentives.
Yearn protocols go live inside ShapeShift mobile app alongside major DeFi protocols including Aave, Morpho, and Pendle.
All Yearn products have no exposure to xUSD, deUSD, mHyper, and yUSD tokens according to team disclosure.
Yearn vaults on Base experienced exposure to Moonwell markets during an oracle malfunction but withdrew all funds with zero losses and vaults operate normally.
yBOLD operates through Yearn Finance integration, allowing users to deposit BOLD tokens to earn more BOLD through automated purchases of discounted ETH. Alternative sBOLD option available through k3_capital partnership.
BYO vaults go live on Yearn Kalani, discussed in live session with Yearn team member.
Yearn's main product page now directly links to Spectra Pools on Katana, enabling depositors to reuse Yearn Vault Tokens for yield trading with swap fees and periodic vaultbridge reward injections.
WazirX exchange lists YFI/INR trading pair with zero trading fees for all traders.
Yearn V3 powers the yield-bearing layer for Polymarket on Polygon network, with launch coming soon.
Multiple unnamed multisig vault platforms experience losses, with Yearn emphasizing its security and capital preservation in contrast.
KAT rewards program active for LPs across Sushi, Morpho, Yearn, and Spectra platforms and kensei creators.
yBOLD and sBOLD development coding completed.
Katana yearn vault users receive $67k+ donation from vaultbridge and AUSD treasury yields distributed over 7 days (5.25 vbETH, 31k vbUSDC, 9k vbUSDT, 7k AUSD, 0.0014 vbWBTC), increasing vault share value.
Robowoofy receives an update with Safe multi-sig integration features including transaction simulation, queuing capabilities, peer review audit trails, and Telegram notifications.
crvUSD-2 vault yields 12% APY, described as the best performing among Curve lending markets on the platform.
yBOLD staking currently yields 6-8% APY with spikes into double digits. ysyBOLD now functions as collateral on Fluid Protocol's smart collateral market, and Asymmetry Finance offers 1.7% borrow rates via managed delegation for USDaf against ysyBOLD deposits.
dYFI incentives have ended as the protocol transitions to a new system.
YIP-88 has passed, implementing a massive overhaul of governance and operations.
Stability Pool depositors on Liquity V2 earn 48%+ APR with borrow rates at 3% for ETH and 4.5% for wstETH. K3_capital's sBOLD emerges as an additional yield-bearing variant alongside ysyBOLD.
ysyBOLD functions as collateral on Asymmetry Finance with a 10x leverage loop yielding approximately 437% APY in BOLD tokens plus fork airdrops.
Over 60% of staked yBOLD is held by USDaf protocol.
ysyBOLD, Yearn's yield-bearing variant for Liquity V2, generates 3.6% daily returns (1000% APR) from stability pool liquidations.
A governance proposal would distribute 90% of protocol revenue to staked YFI holders and eliminate the vote-escrow mechanism. Current deposits stand at $546M, significantly below the 2021 peak of $7B+.
dYFI rewards are back with boosted returns available for a limited 2-week period.
ASF Governance process begins for the USDaf ecosystem integrated with Yearn, with Asymmetry generating $1.44m/yr in revenue. Upcoming integrations with SunbeamBTC and DegenBoxAF are announced.
Founder Andrew Cronje completes massive fundraise for new project called Flying Tulip.
YFI can now be used as collateral on Morpho to borrow USDC with 77% LTV and $500k available liquidity.
$ynRWAx architecture is complete with vault fully seeded and deposit cap reached, indicating imminent launch.
The tokenomics overhaul will allocate 90% of protocol revenue to token stakers.
A massive overhaul of tokenomics and governance is being discussed, including switching from vote-escrow to vote-lock model, fee distribution changes, and team reorganization.
Yearn expands curation services through partnership with Term Labs, deploying a new USDS vault that combines fixed-rate lending infrastructure with yield optimization.
New yUSND vault goes live with partnerships already active via Spectra Finance and PoolTogether, representing 1/1400th of total TVL with 3 additional integrations underway.
Katana distributes $200k in WETH, USDC and other tokens as donations into vaults, increasing vault token value for depositors.
Yearn vaults are now integrated into Lazy Summer's yield aggregation platform alongside 10 other vault providers on Morpho.
A new yield strategy allows ysyBOLD to serve as collateral on Asymmetry Finance with 6.5% yield and 1.5% borrowing costs, potentially generating ~50% APR through looping while providing Liquity V2 airdrop exposure.
A new real-world assets product $ynRWAx is launching with a pre-deposit vault coming soon.