Yearn.finance opens vault deployment access to all users
Decentralized yield protocol Yearn.finance express that all users can now create sophisticated permissionless Vault Factories on its platform. The current version of vault Factory works with stablecoin swapping platform Curve Finance and its liquidity provider (LP) tokens and features three premade yield strategies.
All factory deployed vaults have no management fees and a fiat 10% performance fee, the DeFi project wrote.
"Our new Permissionless Vault Factory lets anyone deploy an auto-compounding yVault for any Curve pool with an active liquidity gauge, yes anyone Factory-deployed vaults" have no management fees and a flat 10% performance fee Nice!"
Yearn.finance the first dubbed Boosted Factory uses Yearn's vote escrowed CRV balance of 45.1 million to give users a maximum boost of 2.5x on CRV rewards, the second Convex Factory supplies also CRV LP tokens beyond the maximum to the decentralized platform Convex Finance to earn CRV and CVX rewards Convex Frax factory enables users to access rewards on the Frax share algorithmic stablecoin platform.
“In all three strategies, any earned tokens are regularly claimed, sold for more of the underlying Curve LP token, and then deposited back into the strategy to compound the yield.”
Yearn.finance expresses that the Vault Factory represents a massive step forward in automation that allows the firm to reduce its cost of operations. All vaults deployed using the new method will incur a management fee of 0% and a performance fee of 10% management and performance fees were 2% and 20% performance fees go to the Yearn treasury and are calculated on top of profits also the deposit and withdrawal fees are also set at 0% for the new self-created vaults gas fees are still incurred during interactions.
Permissionless finance just got permissionless-er.— yearn (@iearnfinance) January 9, 2023
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