Yearn
Yield aggregator whose yVaults pool deposits and run automated strategies across DeFi protocols.
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Yearn key facts
| Category | Yield platform |
|---|---|
| Chains | Ethereum and other EVM networks |
| Platforms | Web |
| Custody | Non-custodial |
| Fees | Set per vault; factory vaults 10% performance fee; single-asset vaults generally no management fee |
| Security audits | V3: ChainSecurity, yAudit, StateMind; V2: MixBytes, ChainSecurity, Trail of Bits |
YFI token
- Price
- $1,956.8 +2.0% 24h
- Market cap
- $70.2M
- Fully diluted value
- $71.7M
- 30-day change
- -19.3%
Market data: CoinGecko, updated Nov 9, 2026. Educational content, not financial advice.
What is Yearn?
Yearn is a yield aggregator: its yVaults pool deposits and move them through automated strategies in other DeFi protocols. The app shows net APY after fees. Vaults once charged 20% performance and 2% management fees; they now use dynamic fees, and single-asset vaults generally have no management fee.
How Yearn works
A yVault takes deposits of one asset and allocates them to strategies.
V2 vaults, still used for Curve pools, can run up to 20 strategies and issue yv tokens such as yvUSDC. V3 vaults follow ERC-4626; multi-strategy vaults issue tokens like yvUSDC-1, and single-strategy vaults issue ys tokens. Lending strategies supply to protocols such as Aave, Morpho and Spark; factory vaults mostly use AMMs like Curve, Aerodrome and Velodrome.
Reward tokens are sold for the underlying asset, now usually through auctions that fall back to CoW Swap. Fees are charged by minting new vault shares at harvest.
How to start with Yearn
- Connect a wallet such as MetaMask at yearn.fi.
- V3 vaults run on Ethereum, Arbitrum, Polygon, Base and Katana.
- Pick a vault, enter an amount and approve, then deposit; keep some ETH for later gas.
- Withdrawals use the Withdraw tab, with Max for the full balance.
- To follow the USD value of your position, Yearn suggests trackers such as DeBank, Zerion or Zapper.
Yearn fees and limits
- Before YIP-69 the standard was 20% performance and 2% management; fees are now set per vault and shown at yearn.fi.
- Vaults from the vault factory charge a 10% performance fee, and single-asset vaults generally have no management fee.
yVaults can charge a performance fee on harvested yield and a yearly management fee on deposits, both taken by diluting shares. APY in the app is net of fees.
Risks to know before using Yearn
- Governance is a 6 of 9 multisig with no timelock by design, and Yearn states that trusting it to be honest is a prerequisite for using its vaults.
- Losses also come through strategies: after the May 15, 2024 Sonne Finance exploit hit yvUSDT and yvDAI on Optimism, a YIP-78 proposal for Yearn to cover 80% of the remaining losses was rejected.
- A yETH exploit led to YIP-90, created in December 2025 and passed, a voluntary recovery plan for affected users.
Yearn usage
From DefiLlama (TVL) (fees users paid), updated Nov 9, 2026.
Yearn alternatives
Other projects people compare with Yearn.
Multichain yield optimizer whose vaults auto-compound rewards from farms and liquidity pools.
Platform that boosts Curve liquidity provider rewards without users locking CRV themselves.
Non-custodial app for managing DeFi loans with automated leverage and liquidation protection.
On-chain asset management and tokenized fund infrastructure: Enzyme Onyx, Blue vaults and Myso options.
Yield trading protocol that splits yield-bearing tokens into principal (PT) and yield (YT) tokens.
Where Yearn ranks on DappAtlas
Listed next to Yearn
- Morpho Lending protocol
Yearn pros and cons
- APY shown net of fees and compounding
- Single-asset vaults generally carry no management fee
- Core vault code audited by ChainSecurity, yAudit, StateMind, MixBytes and Trail of Bits
- Governance is a 6-of-9 multisig with no timelock, by design
- Fees vary by vault rather than one published rate
- Returns depend on the other protocols a strategy uses
Yearn FAQ
What is Yearn?
Yearn is a yield aggregator: its yVaults pool deposits and move them through automated strategies in other DeFi protocols. The app shows net APY after fees. Vaults once charged 20% performance and 2% management fees; they now use dynamic fees, and single-asset vaults generally have no management fee.
How much value is locked in Yearn?
$190.8M according to DefiLlama on Nov 9, 2026. It is deployed on 8 chains: Ethereum, Katana, Base, Optimism, Polygon, Arbitrum and others.
How much does Yearn cost?
Set per vault; factory vaults 10% performance fee; single-asset vaults generally no management fee, according to Yearn’s own page (checked Sep 26, 2026).
How much do users pay Yearn in fees?
$747,148 over the last 30 days, according to DefiLlama on Nov 9, 2026.
Does Yearn have a token?
Yes, YFI. Its market cap was $70.2M on CoinGecko on Nov 9, 2026. Educational content, not financial advice.
Does Yearn hold my funds?
No. Yearn is non-custodial: you keep your funds in your own wallet and sign each transaction.
Sources
How this page works
Sources: Yearn: official site, Yearn: Docs, yVaults overview, Yearn: Docs, Security. Data as of Sep 26, 2026.
Not affiliated with any project listed. Educational content, not financial advice.