Yearn Ends dYFI Incentives as Major Governance Overhaul Takes Effect
Yearn Ends dYFI Incentives as Major Governance Overhaul Takes Effect
馃攧 Yearn's Big Switch
Yearn's dYFI incentives officially ended as the protocol transitions to its new governance system following the passage of YIP-88.
Key Changes:
- veYFI gauges are retired and won't earn native yield during transition
- veYFI being replaced with stYFI - a simplified system with shorter lock times
- stYFI will earn APR in yield-bearing stablecoins
What's NOT Changing:
- Yearn Vaults continue operating normally
- Users don't need to take any action
- Vault depositors keep earning yield as usual
Important Notes:
- Previously earned dYFI rewards can still be claimed
- dYFI liquidity may be low due to ended incentives
- Users can redeem dYFI to YFI by providing ETH at veyfi.yearn.fi/redeem
The transition represents a major overhaul of Yearn's governance structure, moving toward a more streamlined staking system.
YIP-88 has passed! It is a massive overhaul of Yearn's governance and operations. But what does that mean for Yearn and for you, Anon? Important information below. Lets dive in 馃У馃憞 1/6
dYFI incentives have ended as Yearn transitions to the new system. Read more about it here.
馃毃 As part of the transition, dYFI incentives will official end this Thursday, Oct. 16th. veYFI gauges will be retired and veYFI will not earn a native yield until the new system is in place. veYFI will continue to earn any exit rewards during this time. 2/6
Yearn Launches OEV-Boosted USDC Vault with API3 Oracles
Yearn Finance has launched a new USDC vault that leverages API3's Oracle Extractable Value (OEV) network to boost yields. The vault represents a shift in how liquidation value is captured in DeFi lending markets. Previously, liquidator bots competed through gas price auctions, with most value going to validators. API3's OEV network changes this by: - Obscuring oracle data - Auctioning data to liquidators - Redirecting value from validators to protocols Key Benefits: - Enhanced yield potential - Exclusive use of API3 oracles - Increased oracle diversity [Learn More](https://forum.morpho.org/t/new-oev-boosted-vaults-by-yearn-api3/1833)
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Yearn Finance Launches New Morpho Labs Integration
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