A lot is going on in the world of Yearn Finance and yVaults. From newly launched yVaults, yVault updates, and other yVault related updates and strategies.
So what's happened in the yVaults space over the past week. Let's take a quick look.
What Are Yearn Vaults?
Yearn Vaults were created in response to yield farming and liquidity mining. They are essentially pools of funds associated with a strategy to maximize returns on the asset or assets in the vault. The standard Yearn protocols only lend out coins. However, vault strategies are more active and can do multiple things to maximize returns.
Iron Bank yVault And An Opportunity For Higher Returns
If you're looking for advice on how to use the Iron Bank Curve yVault to its full potential, this is something you should not miss. Check out Ceazor's latest update and video on YouTube as he guides you through the Iron Bank yVault.
The video talks about the yVault and the opportunity of high returns. It also talks about your thought process and the factors you should consider while considering the ROIs and the cost of entry.
Yearn Using Its veCRV Balance And Increasing CRV Awards Allocated
The Curve gauge scale has been slowly tipping in the Iron Bank's favor. Why? That's because Yearn is using its veCRV balance to vote on the Iron Bank Gauge. This is increasing the amount of CRV rewards that are being allocated to it. The current APY for the crvIB yVault is at 51.05%.
Dharma Makes Depositing Fiat Into Yearn Vaults A Piece Of Cake
Dharma's new Ethereum wallet connects directly with your bank account, letting you go from Dollar to DeFi in the blink of an eye. You can deposit up to $25,000 per week into Compound, Uniswap, Yearn, and Aave directly and instantly from your bank account.
New Strategies At Play
#1 Iron Bank
- IBLevComp: This strategy supplies USDC on compound while borrowing USDC from Iron Bank, maximizing COMP farming. The COMP that is earned is then harvested and can be sold for more USDC, which is re-deposited into the vault.
- SingleSidedCrvUSDC: This strategy deposits USDC to a USDC Curve Pool that is on Curve.fi. It then searches for profitable pools and alternates between pools, depending on which pool is more beneficial.
- StrategyIdleDAIYield: This strategy supplies DAI to Idle finance, allowing the farming of COMP and IDLE. Whatever generated rewards are harvested and sold for even more DAI; these are then deposited back into the vault.
- SingleSidedCrvDAI: This is similar to the earlier Iron Bank strategy; in fact, it pretty much does the same thing, depositing USDC to a USDC Curve pool on Curve.fi. It then alternates between pools, depending on which pool is more profitable.
- StrategyIdleWETHYield: Like the Idle DAI Yield strategy, this strategy supplies WETH on Idle Finance, allowing the farming of COMP and IDLE. Rewards are harvested, sold for more WETH, and deposited back to the vault.
- StrategysteCurveWETHSingleSided: This strategy supplies WETH to the ETH-stETH liquidity pool on Curve. This allows it to obtain steCRV tokens, which are then put into v2 Curve stETH Pool yVault.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.