Katherine Ross

Updated Dec. 13, 2023 at 1:33 pm ET: Modified headline and context following Yearn clarification.



Thanks to a script error, Yearn lost part of its treasury.



While it initially posted that it lost 63% of the treasury, it corrected its GitHub post to say that it lost “63% of the LP value.” The <a href="https://github.com/yearn/yearn-security/commits?author=dudesahn">clarification</a> was made Wednesday after Blockworks published the initial figures.



“When factoring in the 779,958 yvDAI tokens received from this trade, the total loss experienced by Yearn&#8217;s treasury comes out to about 63%,” the post said initially.



This loss occurred when a malfunction in a multisig (multi-signature) script led to the unintended swap of Yearn&#8217;s treasury balance.



The company clarified that the funds were strictly from Yearn’s treasury, and not from any customer funds.



According to a post, a “faulty multisig script caused Yearn&#8217;s entire treasury balance of 3,794,894 lp-yCRVv2 tokens to be swapped.” The incident happened on Dec. 11.&nbsp;



“This amount comprised a large portion of the Curve pool, and therefore incurred significant slippage which arbed back to the normal price by the market shortly after,” Yearn <a href="https://github.com/yearn/yearn-security/blob/master/disclosures/2023-12-11.md">wrote</a>.



“When factoring in the 779,958 yvDAI tokens received from this trade, the total loss experienced by Yearn&#8217;s treasury comes out to about 63%.”



The DeFi protocol is also asking “anyone who profitably arbed this mistake to return an amount that they feel is reasonable to Yearn&#8217;s main multisig ychad.eth.”



The post explained that multiple oversights led to the faulty transfer. The entire treasury balance, including fees, was transferred to the trading multisig, which sent the transaction to CoW Swap for 30 or so orders — including the one to swap the balance.&nbsp;



Read more: <a href="https://blockworks.co/news/cow-protocol-programmatic-orders">Sorella and CoW Protocol have something in common: Making on-chain exchanges work better</a>



The post said that the high volume of trades involved in this single transaction significantly complicated the process of human review, leading to the oversight not being caught in time.



“The script used by the trading multisig to swap tokens lacked sufficient output checks and contained a logical error that would have capped the trade size to a reasonable amount,” <a href="https://blockworks.co/tag/yearn-finance">Yearn</a> wrote.



The protocol put new checks in place to prevent the same error from happening again. These include segregating protocol-owned liquidity (POL) funds into separate entities, enhancing trading scripts with more human-readable output messages, and imposing &#8220;stricter price impact thresholds&#8221; during trades.



Earlier this year, <a href="https://blockworks.co/news/yearn-finance-exploit-old-smart-contracts">Yearn was targeted in an attack</a>. The attacker was able to make off with roughly $11 million in stablecoins.&nbsp;



The attack happened when a vulnerability in a Yearn vault was exploited, allowing the attacker to access tether (<a href="https://blockworks.co/price/usdt">USDT</a>) deposits.



Using 10,000 USDT, the attacker then minted 1.2 quadrillion yUSDT — the Yearn-equivalent token — and swapped them for stablecoins using Curve Finance to bag $11.6 million.



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Curve

Yearn asks for money back after it accidentally loses part of its treasury

Andrew Thurman

US government officials may be miscounting how much crypto it intends to seize from a notorious pair of alleged criminals by as much as $1 million, a new court filing reveals.&nbsp;



In a document filed Friday, the Department of Justice detailed a planned plea deal and seizure of assets for married co-conspirators Heather Morgan and Ilya Lichtenstein. The pair were <a href="https://blockworks.co/news/couple-arrested-as-government-recovers-3-6b-in-stolen-bitcoin">arrested in February 2022 and released on bail</a> six years after the hack of crypto exchange Bitfinex that resulted in the theft of $72 million. 



Since then, the value of the assets Morgan and Lichtenstein allegedly stole has ballooned to well over $3 billion. The pair garnered a degree of media notoriety when the charges were first unveiled, with Morgan in particular receiving attention for her flamboyant personality and rap alter-ego, Razzlekhan.&nbsp;



The seizures laid out in the document will be significant, totaling billions of dollars across a half dozen blockchains.&nbsp;



However, a blockchain analysis conducted by Blockworks shows that between the omissions of funds in listed addresses, recent transfers between addresses, and interest earned from DeFi protocols, US officials may have undercounted how much crypto they could be seizing by upwards of $1 million on the Ethereum blockchain alone.&nbsp;



One <a href="https://debank.com/profile/0xac848276b10b2364fa06c206ee1d059accd17412">address</a> listed in the document refers to roughly $1,997,000 in USDT deposited in Yearn Finance. The value of the deposits is now $2,053,000, after interest. Yet the same address also contains USDC and CRV deposits on the lending marketplace Aave worth an additional $717,000 that is not mentioned elsewhere in the document.&nbsp;



Another <a href="https://debank.com/profile/0xe2f699ab099e97db1cf0b13993c31c7ee42fb2ac/history">address</a> contains $3.6 million USDT deposited in Yearn. However, this address transferred the deposit tokens in December 2022, along with $6.5 million in aUSDC, to a second <a href="https://debank.com/profile/0xc9e6e51c7da9ff1198fdc5b3369efeda9b19c34c">address</a> containing assets worth a cumulative $37 million in USD, some of which is mentioned elsewhere in the document and does not take into account the interest from Aave or Yearn.



A final address <a href="https://debank.com/profile/0x6811c26b566e9582b68255b2225917af96dd8ec2">referring</a> to Yearn Finance deposits of $1.7 million still holds the assets listed and does not contain additional assets, but has earned $54,000 since the initial deposit.&nbsp;



The document also makes reference to addresses “seized from wallets recovered from Defendants’ online storage account and an external hard drive recovered from the Defendants’ residence” without listing specific Ethereum addresses.&nbsp;



However, a blockchain analysis conducted by Blockworks identified an <a href="https://etherscan.io/address/0xc9e6e51c7da9ff1198fdc5b3369efeda9b19c34c">address</a> containing appropriate amounts of aUSDC, USDC, USDT, WETH, yvUSDT, and other assets. This address also appears to have served as a gathering point for other sums, particularly of native ETH, mentioned elsewhere in the document.&nbsp;



In one particularly puzzling example, the document refers to an address containing a fraction of a single Curve CRV token. However, the 0x hexadecimal string does not refer to an Ethereum account, but instead a transaction <a href="https://etherscan.io/tx/0x612e5774af05cef0626f429d876a315bbdb794fac8fe361ba1d4a01cb3db86a4">hash</a> where the CRV was transferred between wallets.&nbsp;&nbsp;



Between the other blockchain addresses listed, there may well be additional funds derived from forks and airdrops not listed in the document as well.



One possibility is that some of the funds in these addresses were legitimately earned by Lichtenstein and Morgan — and they may well emerge from the proceedings with significant wealth.&nbsp;



More likely, however, is that the government agencies tracking the assets erred in their blockchain accounting and have understated the holdings they intend to seize.



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Bitfinex

‘Razzlekhan’ court document riddled with accounting blunders

Macauley Peterson

If you start dropping references to &#8220;Ethereum request for comment” in polite conversation, you can expect some blank stares. But sometimes innocuous technical lingo like ERC-20 (tokens) and ERC-721 (NFTs) can become the crypto-equivalent of a household name.



Proponents of the tokenized vault standard ERC-4626 — specifically those in the advocacy group 4626 Alliance which announced an expansion to 11 members Thursday — hope that this little pull request, finalized in March 2022 will find its place in a future ERC hall of fame.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">1/🌟 The 4626 Alliance is thrilled to announce a stellar lineup of new members joining forces to propel the ERC-4626 standard: <a href="https://twitter.com/yearnfi?ref_src=twsrc%5Etfw">@yearnfi</a>, <a href="https://twitter.com/fraxfinance?ref_src=twsrc%5Etfw">@fraxfinance</a>, <a href="https://twitter.com/sommfinance?ref_src=twsrc%5Etfw">@sommfinance</a>, <a href="https://twitter.com/AlchemixFi?ref_src=twsrc%5Etfw">@AlchemixFi</a>, <a href="https://twitter.com/Blockworks_?ref_src=twsrc%5Etfw">@Blockworks_</a>, <a href="https://twitter.com/MorphoLabs?ref_src=twsrc%5Etfw">@MorphoLabs</a>, and <a href="https://twitter.com/joey__santoro?ref_src=twsrc%5Etfw">@joey__santoro</a> <a href="https://t.co/vgTl4fs1Rq">pic.twitter.com/vgTl4fs1Rq</a>&mdash; 4626 Alliance (@erc4626) <a href="https://twitter.com/erc4626/status/1654121022201950208?ref_src=twsrc%5Etfw">May 4, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Disclosure: Blockworks is among the members of the 4626 Alliance.



The standard was first <a href="https://eips.ethereum.org/EIPS/eip-4626">proposed</a> by <a href="https://blockworks.co/tag/fei-protocol">Fei</a> co-founder Joey Santoro in late 2021. Within months, it sparked the <a href="https://twitter.com/joey__santoro/status/1504603906726240258">interest</a> of developer teams from major DeFi protocols such as Balancer, <a href="https://blockworks.co/tag/yearn-finance">Yearn</a> and <a href="https://blockworks.co/tag/frax">Frax</a>.



That prompted Blake Richardson and Vikram Arun, co-founders at Superform, to champion the standard, forming the 4626 Alliance alongside mStable, Balancer and Aztec.



“Our thesis is that 4626 creates the new DeFi summer,” Richardson told Blockworks. He predicts it will be as important as the ERC-20 token standard that led to <a href="https://www.blockworksresearch.com/glossary#initial-coin-offerings-icos">the ICO boom</a>.



<h2 class="wp-block-heading">DeFi’s “ERC-20 moment”</h2>



To date, DeFi has failed to be adequately composable and easy to understand, and has suffered from security risks as a result of a lack of standards, Richardson said. Projects have been forced to author bespoke adapters in order to link up with each other, adding complexity and time to deploy dApps safely.&nbsp;



“Instead of all these isolated groups of people building things that don’t interact with each other, we can build entirely unique composable projects,” Richardson said.



One example is Sommelier — also a member of the 4626 Alliance — which <a href="https://blockworks.co/news/defi-multichain-sommelier-axelar">announced its launch on Arbitrum</a> this week. Co-founder Zaki Manian lamented the standards problem in DeFi, and said that 4626 could speed up his team’s work.



“We’re actually talking to lots of other people in [Ethereum] DeFi about trying to work better [with 4626],” Manian told Blockworks. “If DeFi could collectively all adopt 4626, Sommelier could be everywhere and plug into every protocol in like a few days.”



Yield generating strategies are able to become more complex while also being harder for ne&#8217;er-do-wells to attack. Provisioning audits and ensuring safety has been a major obstacle&nbsp; because each individual protocol implementation has brought its own unique, often complex risks. 4626 — standardizing the tokenized vault — is expected to make the auditors’ job much easier.



But it’s not just about improving speed to market and helping projects become less <a href="https://blockworks.co/tag/hack">hack-prone</a>, the standard also enables new DeFi primitives such as tools for customizable yield exposures, like those developed by Sense Finance, Richardson said.



“Composability is one of the key value props of decentralization in the first place — the whole money Lego pitch for DeFi is one of it’s most critical for adoption,” according to Richardson, who thinks the types of applications that will be built using the standard, is set to rise dramatically.



For instance, <a href="https://blockworks.co/news/gearbox-is-releasing-v3">Gearbox uses 4626</a> to let levered yield strategies be included seamlessly into existing strategy vaults, such as those planned by Yearn Finance in its upcoming V3.



Increasing adoption within DeFi is the primary goal of the alliance, and once met, members will decide on the next steps, such as raising awareness of its benefits to the public.



“Most investors aren’t particularly standard conscious — if they buy an NFT with 1155 versus 721 it’s not changing their perspective a ton,” Richardson said. “However, I think the compound benefit of standardization will lead more people to adopt DeFi because they can start to trust it more.”



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erc-4626

Tokenized Vault Standard on Ethereum Set to ‘Kick Off New DeFi Summer’

DeFi stalwart <a href="https://blockworks.co/tag/yearn-finance">Yearn Finance</a> was the target of a dizzyingly complex attack early Thursday that resulted in a roughly $11.6 million stablecoin haul for the culprit.&nbsp;



But the root cause dates back over three years, to a version of the savings protocol that has long since been officially abandoned.



At least $8 million in stablecoins remains in the hacker’s control, most of which has been swapped to DAI, with the remaining millions exchanged for ether (ETH) and partially passed to crypto mixer Tornado Cash in an effort to obfuscate its origin.



Yearn’s YFI governance token initially fell by roughly 5% on the news, but remains up nearly 80% year-to-date, <a href="https://www.coingecko.com/en/coins/yearn-finance">data</a> from CoinGecko shows.



Yearn’s official Twitter <a href="https://twitter.com/iearnfinance/status/1646436798086672385" target="_blank" rel="noreferrer noopener">confirmed</a> the exploit, noting that the affected vault is “an immutable contract predating YFI, [that] was deprecated in 2020.”



The attacker was able to take advantage of a vulnerability in the deployment of one of the early Yearn vaults involving tether (USDT) deposits, which receive a Yearn-equivalent token yUSDT, according to security researchers <a href="https://twitter.com/osec_io/status/1646411673299996673?s=20">Otter Sec</a>, s<a href="https://twitter.com/samczsun/status/1646404331967778820?s=20">amczsun</a> and <a href="https://twitter.com/peckshield/status/1646411259125063686?s=20">Peckshield</a>.



Using starting capital of just 10,000 USDT, the perpetrator was able to mint over 1.2 quadrillion yUSDT and then swap those for other stablecoins via Curve Finance to extract a total of $11.6 million.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">It appears the root cause is due to the misconfigured yUSDT, which is exploited to mint huge yUSDT (1,252,660,242,212,927.5) from a small $10K USDT. The huge yUSDT is then cashed out by swapping to other stable coins. <a href="https://t.co/Qz3vwtbcot">https://t.co/Qz3vwtbcot</a> <a href="https://t.co/xlsc2Nlmle">pic.twitter.com/xlsc2Nlmle</a>&mdash; PeckShield Inc. (@peckshield) <a href="https://twitter.com/peckshield/status/1646411259125063686?ref_src=twsrc%5Etfw">April 13, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The attack vector is linked to an apparent oversight from February 2020, when the yUSDT token contract was <a href="https://twitter.com/samczsun/status/1646404331967778820?s=20">deployed</a> with a bug.&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">It seems like the iearn USDT token (yUSDT) has been broken since deploy, which was *checks notes* over 1000 days ago. It was misconfigured to use the Fulcrum iUSDC token instead of the Fulcrum iUSDT token.<a href="https://t.co/FMtjACkGNz">https://t.co/FMtjACkGNz</a> <a href="https://t.co/dxW9E0ndF1">pic.twitter.com/dxW9E0ndF1</a>&mdash; samczsun (@samczsun) <a href="https://twitter.com/samczsun/status/1646404331967778820?ref_src=twsrc%5Etfw">April 13, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The detail identified by Samczsun regarding an apparent &#8220;misconfiguration&#8221; is notable, according to Ernesto Garcia, Smart Contract Engineer at OpenZeppelin.



&#8220;It seems weird to me that the Fulcrum iUSDC address is hard-coded,&#8221; Garcia told Blockworks. “If the contract went through a review, it was either an oversight (everyone assuming the correct address), or might’ve been changed before deployment as some tweets out there suggest.”



Garcia suggested that <a href="https://t.yesware.com/tt/252a1dc1b77e7be51bd66e941fd1524918eea58e/1a60fbe2d305cf2e708367f1e0c08e38/e94e47d69f2a91992ca74b120202aa20/blog.openzeppelin.com/improved-security-through-bytecode-verification/">bytecode verification</a> against the audited code from the time would determine whether there was any deliberate tampering.



Aside from the age of the bug, the execution of this attack required multiple steps, three different DeFi protocols, including Aave and <a href="https://blockworks.co/tag/flash-loans">a flash loan</a>.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1280" height="697" src="https://blockworks-co.imgix.net/wp-content/uploads/2023/04/Peckshield.jpeg?w=1024&amp;h=1024" alt="" class="wp-image-52056" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2023/04/Peckshield.jpeg?w=1280 1280w, https://blockworks-co.imgix.net/wp-content/uploads/2023/04/Peckshield.jpeg?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2023/04/Peckshield.jpeg?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2023/04/Peckshield.jpeg?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2023/04/Peckshield.jpeg?w=428 428w, https://blockworks-co.imgix.net/wp-content/uploads/2023/04/Peckshield.jpeg?w=470 470w, https://blockworks-co.imgix.net/wp-content/uploads/2023/04/Peckshield.jpeg?w=389 389w, https://blockworks-co.imgix.net/wp-content/uploads/2023/04/Peckshield.jpeg?w=80 80w" sizes="auto, (max-width: 1280px) 100vw, 1280px" /><figcaption class="wp-element-caption">Diagram of the flow of funds; Source: <a href="https://twitter.com/peckshield/status/1646421063176450048" target="_blank" rel="noreferrer noopener">Peckshield</a></figcaption></figure>



Aave itself is unaffected, meaning its users are not at risk, <a href="https://twitter.com/peckshield/status/1646412503583432704?s=20">according</a> to Peckshield, nor are users of more recent Yearn vaults.



The unknown attacker converted $1.2 million USDT to 621 ETH, and used exploited <a href="https://blockworks.co/price/tusd">TUSD</a> stablecoin as collateral in Aave V2 <a href="https://etherscan.io/tx/0x297d0a87f20c8e4753663a4548c9e69e2086b18aaf48520f07561cd396f97088">to borrow</a> a further 320 ETH ($640,000). Much of that ether has been deposited into the Tornado Cash 100 ETH anonymity set, blockchain records <a href="https://debank.com/profile/0x16af29b7efbf019ef30aae9023a5140c012374a5/history">show</a>.



A separate <a href="https://debank.com/profile/0x6f4a6262d06272c8b2e00ce75e76d84b9d6f6ab8">wallet</a> linked to the first received over 4.7 million DAI and 2.5 million USDC, with the latter swapped to DAI, where it remains as of 9:30 am ET.



Hackers prefer DAI and ETH over USDC and USDT because the centralized stablecoins from Circle and Tether are more easily frozen, preventing further transfer.



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exploit

Yearn Finance Exploit Points to Dangers of Old Smart Contracts

Aaron Ahmadi

<h2 class="wp-block-heading">What is Yearn Finance (YFI), and how can you invest in it? </h2>



Yearn Finance is a suite of yield-optimizing DeFi protocols anchored on the Ethereum blockchain.



Want to read more like the Guide to Yearn Finance? Scroll to the bottom for additional reading and a list of other <a href="https://cms.blockworks.co/category/education/" target="_blank" rel="noreferrer noopener">Blockworks Investor&#8217;s Guides</a>.





<h2 class="wp-block-heading">A quick primer on DeFi</h2>



All you need to get started in DeFi is an internet connection. Its core thesis is personal financial autonomy — removing unnecessary middlemen in banking, investing and transacting.



Yearn takes this thesis to logical extremes, providing a fast, decentralized method to use digital assets in ways that mirror traditional finance, including lending and borrowing, as well as in ways specific to DeFi (decentralized finance), like staking or yield farming.



Chief among today’s most-utilized DeFi-oriented blockchains is the Ethereum chain, which Yearn Finance was built on.&nbsp;





<h2 class="wp-block-heading">​What is Yearn Finance?</h2>



The central goal behind Yearn Finance is to maximize returns on your cryptocurrency by arbitraging different lending platforms in search of the best available yield — shifting between dYdX, Aave and Compound, as interest rates vary between these platforms.



Within the Yearn Finance ecosystem, investors have a choice of three core products:



<ul class="wp-block-list"><li><a href="https://yearn.finance/#/ironbank" target="_blank" rel="noreferrer noopener">Iron Bank</a></li><li><a href="https://yearn.finance/#/labs" target="_blank" rel="noreferrer noopener">Labs</a></li><li><a href="https://yearn.finance/#/vaults" target="_blank" rel="noreferrer noopener">Vaults</a></li></ul>



Below, we&#8217;ll take a closer look at each option and how they fit within Yearn&#8217;s larger ecosystem.





<h2 class="wp-block-heading">The case for Yearn</h2>



With $3.51 billion in current total value locked (TVL), Yearn Finance is one of the fastest-growing DeFi projects to date with promising potential for its future. Major mergers with other protocols like SushiSwap and Pickle have deepened Yearn’s market reach in the DeFi world. 



For those thinking about Yearn for the long haul, it’s worth noting the limited supply of YFI tokens. Technically speaking, users can vote to change the rules on token economics. However, if Yearn’s limited supply stays the same, then Yearn Finance will follow a similar limited-supply model to bitcoin. At the time of this writing, 1 YFI token is $20,610.55. The predetermined total of 36,666 YFI are in circulating supply.



Yearn Finance remains decentralized and community-governed, allowing the Yearn community to shape the future of the project. With a robust offering of products that sets the bar for other DeFi projects, some look to Yearn Finance as the standard in the ever-evolving space. Remember, DeFi is in its infancy.



More conceptually, Yearn Finance remains true to its core, decentralized values in that it continues to uphold transparency and is governed by the users. That means everyone starts on equal footing. Token holders get to vote on the rules. All proposals require over 50% approval before passing. There’s also a <a href="https://yearnweb.substack.com/" target="_blank" rel="noreferrer noopener">newsletter</a> which users can subscribe to stay up-to-date on planned releases, bug fixes, etc.



What began as the first <a href="https://docs.yearn.finance/resources/defi-glossary#fair-launch" target="_blank" rel="noreferrer noopener">fair token launch</a> has evolved into one of DeFi’s most powerful investment opportunities. Of course, nothing in the crypto world comes without risk, so proceed with care.





<h2 class="wp-block-heading">How to invest with Yearn Finance</h2>



<h3 class="wp-block-heading">Option 1: Buy YFI</h3>



As an investor, you have options with Yearn Finance. If your plan is to simply own the YFI token, you can buy it on exchanges like Uniswap or Curve. Then, simply store your assets in a crypto wallet. You can also directly cash out your YFI when you decide to take profits. YFI is also available on centralized exchanges like Binance or Kraken.



<h3 class="wp-block-heading">Option 2: Yield-farm with YFI</h3>



Within Yearn Finance’s platform, the suite of products ranges from low to high risk. One of the simpler, lower-risk services is <a href="https://yearn.finance/#/ironbank" target="_blank" rel="noreferrer noopener">Iron Bank</a>, which allows users to borrow using crypto as collateral without having to sell.



For those with a somewhat higher risk-appetite, there’s <a href="https://yearn.finance/#/vaults" target="_blank" rel="noreferrer noopener">Vaults</a>. Simply choose a strategy from Vault&#8217;s options, deposit the proper tokens and let Yearn tech help maximize yield through shifting capital, auto-compounding and rebalancing. Keep in mind there are no regulations to protect customers or a customer support number to call if there’s a bug in the code or in the event of a hack. While Yearn Finance is known to be secure, it remains experimental; it’s best to know your own risk tolerance. Unlike traditional banking products, you can withdraw your investments with Vault at any time.



Finally, Yearn <a href="https://yearn.finance/#/labs" target="_blank" rel="noreferrer noopener">Labs</a> offers an unconventional high-risk, high-reward approach. According to their documentation:



&#8220;The emerging strategies you&#8217;ll find here are the newest and most unconventional around. Be sure to review the About sections carefully and make sure you understand token locking, impermanent loss, and other risks before proceeding.&#8221;



<h3 class="has-black-color has-text-color wp-block-heading">Final considerations</h3>



As DeFi products go, Yearn Finance boasts a relatively simple and effective collection. However, emerging markets change quickly, so it&#8217;s vital to stay informed and keep up with the latest news and insights. You can do so here, at <a href="https://cms.blockworks.co" target="_blank" rel="noreferrer noopener">Blockworks.co</a>.





<h2 class="has-black-color has-text-color wp-block-heading">Additional resources</h2>



<a href="https://cms.blockworks.co/yearn-finance-launches-yfi-buyback-program-markets-wrap/" target="_blank" rel="noreferrer noopener">Yearn Finance Launches YFI Buyback Program: Markets Wrap</a>



<a href="https://cms.blockworks.co/the-investors-guide-to-defi/" target="_blank" rel="noreferrer noopener">The Investor&#8217;s Guide to DeFi</a>



<a href="https://docs.yearn.finance/getting-started/using-yearn" target="_blank" rel="noreferrer noopener">Getting Started Using Yearn</a>



<a href="https://docs.yearn.finance/resources/faq" target="_blank" rel="noreferrer noopener">Yearn Product FAQs</a>



<a href="Yea" target="_blank" rel="noreferrer noopener">Podcast: The Rebirth of Tokenomics: Yea</a><a href="https://cms.blockworks.co/podcast-the-rebirth-of-tokenomics-yearn-finance-and-ve33/" target="_blank" rel="noreferrer noopener">rn Finance and Ve(3,3)</a>



<a href="https://cms.blockworks.co/the-investors-guide-to-defi-2-0/" target="_blank" rel="noreferrer noopener">The Investor’s Guide to DeFi 2.0</a>





<h3 class="wp-block-heading">Get educated. Check out <a href="https://cms.blockworks.co/the-investors-guide-to-bitcoin/" target="_blank" rel="noreferrer noopener">The Investor&#8217;s Guide to Bitcoin</a>, <a href="https://cms.blockworks.co/the-investors-guide-to-nfts/" target="_blank" rel="noreferrer noopener">The Investor&#8217;s Guide to NFTs</a>, <a href="https://cms.blockworks.co/the-investors-guide-to-defi/" target="_blank" rel="noreferrer noopener">The Investor&#8217;s Guide to DeFi</a>, <a href="https://cms.blockworks.co/the-investors-guide-to-the-metaverse/" target="_blank" rel="noreferrer noopener">The Investor&#8217;s Guide to the Metaverse</a> and <a href="https://cms.blockworks.co/the-investors-guide-to-music-nfts/" target="_blank" rel="noreferrer noopener">The Investor&#8217;s Guide to Music NFTs.</a></h3>





The content of this webpage is not investment advice and does not constitute any offer or solicitation to offer or recommendation of any company, product or idea. It is for general educational purposes only and does not take into account your individual needs, investment objectives or specific financial circumstances.

Decentralized Finance

The Investor’s Guide to Yearn Finance

In the latest episode of &#8220;<a href="https://youtu.be/BGKes7kwCOg">Empire</a>,&#8221; weekly roundup, Blockworks&#8217; Jason Yanowitze and Santiago <meta charset="utf-8">Roel Santos bring their A-game and best sweaters for a conversation about the latest in crypto.



After covering the launch of Alliance DAO (<meta charset="utf-8">in which Yanowitz is an investor) yesterday and the Curve Wars last week, Ver(3,3) and Yearn Finance provide a stimulating and exciting revisit as they discuss what it means for the environment. Jason and Santiago also track the markets, comment on fundraisers and more.



They cover:



<ul class="wp-block-list"><li>LooksRare vs. OpenSea</li><li>Seqoia and Paradigms $1.5B investment</li><li>JPMorgan and Chase</li><li>and so much more!</li></ul>



Check out what they had to say in the video below. 👇



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="The Rebirth of Tokenomics: Yearn Finance and Ve(3,3) | Weekly Roundup" width="1024" height="576" src="https://www.youtube.com/embed/BGKes7kwCOg?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
</div></figure>



<h3 class="wp-block-heading">About the show</h3>



&#8220;Empire&#8221; is a twice-a-week show. On Thursdays, Jason interviews crypto industry movers and shakers to talk about their struggles, bold moves and tough decisions. Friday&#8217;s weekly roundup episodes feature <meta charset="utf-8">co-host, Santiago Roel Santos and cover the top news from the past week.



For any NPR or Guy Raz fans out there, you can think of &#8220;Empire&#8221; as a &#8220;How I Built This&#8221; for the bitcoin and crypto industry.



Subscribe to &#8220;Empire&#8221; today on&nbsp;<a href="https://podcasts.apple.com/us/podcast/empire/id1554930038" target="_blank" rel="noreferrer noopener">Apple</a>&nbsp;or&nbsp;<a href="https://open.spotify.com/show/4UTePv1CR3APdKOiosR3Iq" target="_blank" rel="noreferrer noopener">Spotify</a>. Watch episodes on&nbsp;<a href="https://www.youtube.com/playlist?list=PLvER9nHSRN3wPkrDGTT5_8VC4Hjcq0f9U" target="_blank" rel="noreferrer noopener">YouTube</a>.



<hr class="wp-block-separator"/>



Get the day’s top crypto news and insights delivered to your inbox every evening.&nbsp;<a target="_blank" href="https://cms.blockworks.co/newsletter/?source=end" rel="noreferrer noopener">Subscribe to Blockworks’ free newsletter</a>&nbsp;now.



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