Andre Cronje has launched several experimental features on the Yearn Finance platform, which covers yield farming, lending & borrowing, and several other features.
The latest section at Yearn also includes a new UI interface and the integration of the Cover protocol. Andre Cronje revealed several screenshots of the experimental features on his Twitter account on December 8.
Yearn Finance’s newest addition features an experimental platform at which users can test the latest tools. Most of the products include features related to SushiSwap, Curve, and Cover Protocol.
For the time being, we can find a Curve DAO vault that distributes veCRV governance admin rewards. Users can also discover the new user interfaces for sections such as vaults, earn, zap, experimental, and stats.
One notable new thing is the integration with Cover protocol, which has its own section on the experimental platform. As a reminder, Yearn Finance joined forces with Cover on November 28 following a successful merger. The two teams have worked together so far on developing so-called covers, insurance mechanisms for yield farming.
In a recent article, Andre Cronje explained how the Cover Protocol works and what it offers to the community. Cronje listed three main groups that benefit from Cover, including coverage seekers, liquidity providers, and prediction market users.
On Yearn Finance, all three groups will have their unique interface for the sake of improving user experience. Cronje believes that the newest changes will severely simplify the process of ‘covering,’ making it available for everyone. Covering includes three main features, perpetual cover, pay as you go cover, and agnostic collateral covering.
Will Yearn Finance recover once the dust settles?
Since originally posting the screenshots of the new experimental features, Yearn Finance creator Andre Cronje did not divulge anything else. Whether the features will exit their beta phase in the near future remains unknown.
With the number of partnerships and projects going on in the background, it is difficult to tell how much time Cronje and his team have to dedicate to Yearn.
Nevertheless, community sources show that Yearn Finance is headed in a good direction despite the time that the team spends. As Defiye reported yesterday, an informal quarterly report revealed all statistics regarding the protocol’s earnings. The most important thing to note may be that Vaults absolutely dominate the revenue stream on Yearn. Only the 68% yUSD vault earns 68% of the protocol’s total income.
With products and services that are so efficient, it is only a matter of time before the project truly blows up. As a reminder, the core developer team plans to increase fees with the introduction of Yearn Vaults 2.0. By doing so, the project will have money to both reinvest in the protocol and to perform YFI buybacks as well.
The situation may not be as bullish considering that YFI ‘nuked’ from $31,250 to $22,770 since the start of the month. However, the price action can mainly be attributed to Bitcoin’s bearish trend. Will YFI strive for another high or will investors see a retest of $8,500 for yet another time? Whatever the case may be, this moment is immensely critical for Yearn Finance.