Yearn Finance dApp on Ethereum

All about Yearn Finance and how to connect to it with your Exodus Browser Extension.

In this article:

What is Yearn Finance?

Yearn Finance is a passive investment dApp built on Ethereum. The protocol will automatically move any stablecoins you deposit to different lending protocols in order to optimize the interest you get.

Yields (the interest you earn) are automatically generated based on current market opportunities. Yearn Finance does this by aggregating the interest rates from available lending protocols. If a lending protocol with a better interest rate is detected, Yearn Finance will move funds in the vault to that lending protocol.

The Yearn Finance protocol is completely open source and its code has been audited and secured. However, before interacting with the protocol, be sure to read up more on dApp bugs and impermanent loss in our Safety and security for DeFi and dApps.

For more details on Yearn Finance and how to use it, you can also go through their documentation.

What tokens does Yearn Finance support?

Currently, Yearn Finance has vaults for these tokens:

1INCH 3Crv
Curve Iron Bank Pool Curve sETH Pool
Curve stETH Pool Curve sBTC Pool
Curve renBTC Pool Curve oBTC Pool
Curve pBTC Pool Curve tBTC Pool
Curve FRAX Pool Curve LUSD Pool
Curve sAave Pool Curve BBTC Pool
linkCRV usdp3CRV
musd3CRV gusd3CRV
dusd3CRV usdn3CRV
ust3CRV husd3CRV
yDAI+yUSDC+yUSDT+yBUSD (bCrv) crvPlain3andSUSD (sCrv)
eursCRV hCRV
Yearn Compounding veCRV YFI

If you do not have a supported stablecoin, no worries! As long as you have assets that can be swapped on Uniswap, Yearn Finance will accept the deposit, convert to a supported stabelcoin, and then deposit it into the vault.

When withdrawing from the vault, the stablecoin can only be swapped back into one of these assets:

Ethereum (ETH) Wrapped Ethereum (WETH)
Dai (DAI) Tether (USDT)
USD Coin (USDC) Wrapped Bitcoin (WBTC)

Are there any fees for using Yearn Finance?

Ethereum transaction fees

Any transaction within Yearn Finance will incur network transaction fees, also known as gas fees. Ethereum gas fees can vary depending on network traffic.

It's important to note that any time Yearn Finance moves your deposited funds to a new lending protocol, this will incur a transaction fee as well. However, the fee is shared by everyone who has deposited to that vault, meaning you won't have to pay the full fee when this happens.

You can use the Ethereum gas tracker on Etherscan to track Ethereum gas fees at any given time.

Performance fee

Yearn Finance deducts 20% of the yield as a performance fee.

Management fee

Yearn Finance takes a flat 2% from deposits over a year as a management fee.

Read more about Yearn Finance's fees in their documentation.

How do I connect my wallet to Yearn Finance?

Go to Yearn Finance and click Connect Wallet.

Select Exodus.

On the connection approval screen, click Connect.

How do I approve a transaction on Yearn Finance?

When depositing funds in Yearn Finance, your browser extension wallet will pop up and prompt you to approve the transaction.
Click Approve.

How do I disconnect my wallet from Yearn Finance?

Open Exodus Browser Extension and click the Menu icon.

Click Connections.

Next to Yearn Finance, click the delete icon.

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