Yearn

Yearn v3 is live on Polygon PoS, offering a new yield primitive with expanded possibilities for onchain yield. It introduces Tokenized Strategies, enabling stand alone, permissionless, single strategy vaults. Yearn v3 is designed to be open, permissionless, and composable, serving as the base layer for all DeFi yield. New Vaults and strategies will be gradually rolled out, and users are invited to build and explore the v3 bounty program.

In a recent update, Yearn announced that rETH will be joining yETH. The official URL for Yearn is provided.

Yearn v3 introduces Tokenized Strategies, allowing for stand alone, permissionless, single strategy vaults. It also brings new levels of composability and is built to be as open, permissionless, and composable as possible. Yearn v3 will be rolling out slowly, with new Vaults and strategies being added over time ahead of launching on other chains.

A new yETH proposal has been launched to create a native ETH -> yETH deposit facility. This allows st-yETH holders to participate in voting for this proposal.

Voting for the inclusion of LSTs from Rocket Pool and Ether-Fi in the yETH basket, alongside Frax Finance, Swell Network, Lido Finance, Stader Labs, Coinbase, and MEV, will open in 11 hours. st-yETH holders can decide whether to include these LSTs.

Yearn v3 Vaults and Strategies are being built to be fully stand alone ERC 4626 compliant and offer composability improvements. Meanwhile, v2 Vaults continue to provide trusted yields and will launch on more chains and integrate with more protocols.

Last week, st-yETH holders enjoyed a 5.38% APR with a 22.1% incentive APR, but this week the APR dropped to 2.96%. This is due to the pending addition of yETH to the pool, which will boost next week's numbers. The APR of st-yETH fluctuates weekly but averages out over time for the best risk-adjusted LST yield. yETH is designed to reflect the true yield and mitigate slashing events. Visit the website to get exposure to a basket of LSTs through one governed token.

Starting today, the farms on yPRISMA will receive 3 more weeks of incentives. Users can now deposit yPRISMA to earn dYFI Rewards and continue to earn wstETH Rewards.

Yearn will be distributing ~$250k in rewards to yCRV and yPRISMA users in their exclusive yPrisma program starting Nov 9th at 3am UTC. yPRISMA is fully transferrable and shares yield and governance powers with users.

In a significant achievement, yETH has joined the 8 figure TVL (Total Value Locked) club. This milestone indicates a significant amount of value locked within the yETH protocol. The team is now focused on pushing forward and continuing their work.