DeFi investors can now yield farm and participate in Yearn Finance vaults directly from their Argent wallet. Following a successful integration, the team added support for all yVaults which they can now access. Yearn Finance announced the news in a Twitter post on November 25.
Yearn Finance represents one of the most popular DeFi protocols. According to market data aggregator DeFi Pulse, Yearn hosts $420 million in collateral with an all-time high of $967 million. The project is most praised for having a technically-minded team, which consistently delivers new updates and features.
Moreover, their YFI native token is the highest valued digital asset in all of crypto. Created by famous smart contract developer Andre Cronje, Yearn Finance persists to be a top-rated DeFi protocol enjoyed by many. Moreover, it is one of the oldest projects in decentralized finance.
Now, the Yearn Finance team has worked together with Argent to integrate their products into the wallet provider. Argent is a popular option for storing cryptocurrencies with a wide range of features. Apart from holding cryptocurrencies, the wallet can also trade, stake, borrow, lend, and invest. Now, users will also have the chance to participate in Yearn Finance vaults all from one app.
Yearn Vaults are the protocol’s most popular feature. Yield farming led to a major surge in interest for DeFi. However, investors kept migrating from one protocol to another to find the best yield farms.
With such an environment, beginners did not know where to yield farm and experienced farmers already grew tired from the back-and-forth action. To combat this, Yearn Finance decided to develop Yearn Vaults.
How do Yearn Vaults (yVaults) work on Argent?
Supporting DeFi investors, Yearn Vaults completely redefine the game by automatizing the process of yield farming. On that note, they reduce the complexity of yield farming by reducing protocol switching. By participating in Yearn Vaults, it is possible to passively invest in DeFi just by supplying liquidity. Yearn’s vaults are inherently designed to maximize returns, leaving no need for traders to switch back and forth.
By making a deposit, yield farmers receive yTokens, which represent their share in the vault’s token pool. After losing their interest, users can switch the newly minted tokens for the asset that they originally deposited. Note also that Vaults significantly reduce the gas, deposit, and withdrawal fees that you would usually spend.
By using the argent crypto wallet, it is possible to join a Yearn Vault directly from your smartphone. Usually, mobile wallets make a great product for those who are not always at the side of their desktop computer. By using Argent, one can make his DeFi experience portable.
Another thing to be aware of is that all Yearn Vaults vary by a great margin. Some may offer higher APY return rates while some provide a more stable APY. Depending on your risk-taste and the asset itself, it is wise to analyze each vault and choose one that suits your needs best. On Argent, you can see all APY rates directly from the official Yearn Finance interface. At the current moment, Yearn showcases APY on a weekly timeframe.