Yearn Scavenger Hunt

    A beginner introduction to yearn.finance

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    Inflows & Outflows

    To conclude, here's a summary of how much volume has moved in and out of the DAI vault.

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    Overview of Yearn DAI Vault

    In this subsection, I present a simple overview of the DAI vault on yearn.

    Daily Transactions

    How many transactions (deposits and withdrawals) are performed in the vault daily? The graph below shows the daily transaction count for the DAI vault on yearn.

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    Vault Deposit

    The next thing I did was deposit some DAI into the DAI vault.

    Here's a summary of the deposit.

    As you can see from above, the swap was done using Uniswap V2 which involved a complex swap from ETH > WETH > YFI. 20.28 USD worth of ETH was swapped for 20.32 worth of YFI, of which the difference can be attributed to slippage.

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    Personal Onboarding

    Yearn Acquisition

    My first interaction with the yearn ecosystem was to acquire YFI, yearns governance tokens. With a number of options available, I decided to do it through Uniswap, by exchanging some ETH for YFI.

    Here's a table summary of YFI acquisition via Uniswap.

    What is yearn?

    Yearn is a collection of protocols that provide decentralized finance (DeFi) services in the form of lending aggregation, yield aggregation, and insurance on the Ethereum blockchain. The protocol is maintained by various independent developers and is governed by YFI holders.

    Yearn offers two main products; vaults and earn. Vaults are pools that automate yield generation by moving funds around while socializing gas costs. Earn on the other hand is a lending aggregator that shifts funds between dYdx, AAVE, and Compound as interest rate change between these protocols.