Decentralised finance project Yearn Finance will allow users to create their own vaults to accrue yield and deposit proceeds to earn even more token rewards.is a term used to describe financial activities carried out on a blockchain without traditional middlemen.
So far, users have been limited to vaults created by Yearn’s contributors and developers. With the introduction of the “permissionless vault factory,” anyone can create their own strategies and offer them on Yearn, where other interested users can deposit their own tokens and earn yields. This may, in time, increase Yearn’s user base and attract more liquidity to the popular DeFi tool. Yearn earns revenues based on user liquidity, where it charges a portion of the rewards as fees for its yield aggregation service.
Vaults refer to an on-chain product that uses crypto deposits to earn yield through various investment strategies. These yields were generated as a “reward” for participation in various DeFi applications, such as lending, borrowing, or trading.24 vaults are already activeAs of Tuesday, users can initially make vaults only for the liquidity tokens of Curve Finance, a stablecoin swapping application.
shauryamalwa Love the bespoke approach to vault design and the potential to drive user traction and liquidity on Yearn 😈
shauryamalwa Richard Heart has long since done that. hex $hex eth
shauryamalwa Cool. Blockchains like WAX_io already have smart contracts with third party companies like tacowax that have rewards for LP holders.
shauryamalwa Like hex? hex