Yearn.Finance (YFI), a key player in the decentralized finance (defi) sector, has witnessed a remarkable surge of 106.87% over the past week, with a 2.11% increase in the last 24 hours.
As of press time, YFI is trading just under $17,800 at a market cap of $506 million. Most growth came shortly before the team behind the project announced significant updates on Nov. 16.
In the announcement, the official Yearn.Finance Twitter profile stated that “Yearn v3 launches soon.” Unlike the earlier version where each Vault could only contain one strategy, v3 allows Vaults to integrate an unlimited number of strategies, offering new flexibility and operational capabilities.
Another major change introduced by the third iteration of Yearn.Finance is a major rework of how profits are distributed to its users. The announcement explains that with v3 there will be no more waiting.
Yield is non-stop in v3! No more waiting for harvests. Unless you’ve ventured into a riskier Junior Tranche strategy, the colour you will see on that ‘earned’ tab will be green, with the number only getting bigger.
According to the announcement, security has been a major focus for Yearn.Finance, with continuous 24/7 vault monitoring and regular audits ensuring the safety and security of its vaults. This has been crucial in maintaining investor confidence, especially considering the dangers of the crypto market.
Yearn.Finance v3 also introduces permissionless strategies, with the feature democratizing the strategy development process, allowing a wider range of developers to contribute and transforming Yearn into a yield marketplace.
Yearn is no longer a small group of superstar devs calling the shots, v3 makes Yearn a yield marketplace for super strategies.