Yearn Releases Quarterly Report, a First for DeFi

2020-12-11 02:02

The popular yield farming platform Yearn Finance has released its first-ever quarterly report, detailing finances from Aug. 20 to Oct. 20.

Plenty of Revenue for Yearn

Over the last quarter, Yearn’s revenue before expenses was $4.4 million. The platform’s most popular product, yVault, was responsible for virtually all of this income: it contributed $4.1 million to the total.

In turn, most of that $4.1 million came specifically from Yearn’s yUSD vault, which brought in $2.8 million. Nine other token vaults generated the remaining $1.3 million in revenue.

The majority of Yearn’s revenue was generated from withdrawal fees paid by depositors. This will remain true in the future, as an upcoming upgrade will introduce a new fee structure of 2% assets under management (AUM) free plus a 20% performance fee.

On top of this, Yearn generated $121,000 of revenue from its liquidity pool (yPool) and $90,000 from token airdrops.

Costs of Business

Yearn’s revenue has been distributed to users who participated in the project’s development and operation. Governance members who staked tokens were paid $2.5 million from the project’s revenue.

Yearn additionally paid operating expenses to participants in the form of administrative salaries ($173,000) and security audits ($82,000). Futhermore, $43,000 was put into community grants that funded development activity, legal work, and publicity.

In the end, the project’s balance sheet is healthy, with assets amounting to $581,000 and no liabilities.

Source: Quarterly report on GithubReport First of Its Kind

Since its launch in July 2020, Yearn has grown rapidly in terms of value and popularity. It is the currently 11th largest DeFi protocol on Ethereum, with a total locked value of $440 million.

However, financial success is only part of the story. Accountability is also key, and Yearn’s team is the first major DeFi platform to issue a quarterly report. Though traditional businesses often release these reports, it is rare in the DeFi world, despite the fact that most of these platforms have on-chain data to work with.

It remains to be seen if other DeFi projects will follow Yearn’s lead and issue similar reports in the future.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

yearn.finance (YFI) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $6229.77
Капитализация $0 Rank 99999
Цена в час новости $ 23096.07 (-100%)

defi report releases quarterly yearn

defi report → Результатов: 63


Фото:

Cumulative Ethereum Transaction Fees in 2020 Supersede Bitcoin’s by a Long Shot

This week the research and analysis team Coin Metrics published a report on how decentralized finance (defi) is “fueling Ethereum’s growth. ” Meanwhile, the researchers also highlighted that Ethereum’s cumulative transaction fees in 2020 are now over $350 million and more than double the aggregated total of Bitcoin’s network fees.

2020-9-30 10:30


NFT Sales Heat Up as Rarible Marketplace Passes $5M in Volume

While decentralized finance (DeFi) has grabbed most of the recent headlines, the non-fungible token (NFT) market has quietly picked up steam over the summer.   According to a Sept. 16 report from crypto asset data website Messari, Rarible, an NFT marketplace, has passed $5 million in sales so far this month—more than quadrupling sales numbers from August.

2020-9-23 17:09


Switzerland Passes Blockchain Legislation Unanimously; Will Take Effect Early 2021

According to a report by the international unit of Swiss Broadcasting Corporation, SWI, this legislation on DLT’s and blockchain is likely to come into effect at the beginning of 2021. The milestone will open up doors for Swiss crypto-savvy investors to participate in the latest tech, including decentralized finance (DeFi); companies will also be able […] The post Switzerland Passes Blockchain Legislation Unanimously; Will Take Effect Early 2021 first appeared on BitcoinExchangeGuide.

2020-9-12 18:15


Фото:

Kraken: доля биткоина на рынке упала из-за бума в сегменте DeFi

На фоне роста активности в секторе децентрализованных финансов первая криптовалюта теряет долю на рынке. Об этом говорится в ежемесячном отчете биржи Kraken. Kraken's Bitcoin Volatility Report by ForkLog on Scribd Рост индекса доминирования Ethereum ускорился в первом полугодии 2020 года.

2020-9-9 12:08


Фото:

Is DeFi’s Total Value Locked (TVL) The Best Way To Measure Market Growth: DappRadar Report

In a report published on Wednesday, DappRadar, a decentralized app (dApp) aggregator, stated that the DeFi growth could be significantly overstated. The foremost DeFi metric is the total value locked (TVL), which measures the amount borrowed to amount deposited on lending DeFi protocols and the liquidity provided on decentralized exchanges (DEX). According to DeFi Pulse, […]

2020-8-21 04:13


Фото:

Report: Ethereum Activity in 2020 Nearing ICO Euphoria Levels

Certain metrics tied to Ethereum’s ongoing surge in network activity and price is nearing levels seen previously in the infamous 2018 ICO market, a report noted in its Q2 market outlook. Same Conditions, Different Outcome Xangle – a research firm focused on-chain analytics for cryptocurrencies – recently released its report on “Decentralized Finance (DeFi) inRead MoreRead More.

2020-7-27 17:00


As Decentralized Finance Continues to Evolve, Big Four Audit Firms Will Play a Major Role in DeFi Ecosystem; dGen Report

Big four audit firms are set to be a significant part of the Decentralized Finance (DeFi) ecosystem according to the latest blockchain industry report by German-based non-profit, dGen. The DeFi space, which has seen tremendous capital gains in TVL, will grow even more prominent in the coming decade as per dGen insights on its report. […]

2020-7-17 20:14


AVA Labs Integrates Chainlink’s Decentralized Oracles to Improve DeFi Dapps Development

AVA blockchain, becomes the latest platform to add Chainlink, a decentralized oracle system to its platform. The integration of Chainlink to the Dapp blockchain platform will reduce the development time and allow the creation of new products on the platform such as crypto derivatives, calculation of strike prices and triggering liquidations. In an official report […]

2020-6-3 19:33