Tags: Yearn

Yearn.Finance Ask Traders to Return Gains Following $1.4 Million Multisig Error – What’s Going On?

The massive price slump came after several consecutive days of charting notable gains.

(DALL-E/CoinDesk)

The hacker has already transferred 1,000 Ether, worth almost $2 million, to the crypto mixer Tornado Cash.

Blockchain Security Firm PeckShield: DeFi Protocol Yearn Finance Suffers $11 Million Exploit – Here‘s What Happened

Yearn Finance has not provided any details regarding the extent of the exploit. 

YFI has increased by 22.61 against its bitcoin trading pair over the past 48-hours.

The product is designed for users to gain exposure to a basket of liquid staking derivatives in a single token.

The collaboration of over 30 DeFi projects came as an effort to counteract the negative sentiments built in 2022 due to numerous CeFi ecosystem crashes.

Andre Cronje believes that DeFi does not need a new narrative or a “shiny new toy” to work

The decision opens the way for MakerDAO to earn an estimated 2 annual yield on USDC stablecoin deposits.

“All factory-deployed vaults have no management fees and a flat 10 performance fee,” the DeFi project wrote.

Yearn was among the first yield aggregators in the now-mature decentralized finance ecosystem.