A project that sits close to many Defi users’ hearts, Yearn Finance, has fallen out of favor in 2021. Driven primarily by the YFI minting saga, spill-over narratives from yEcosystem projects, and topped off with the v1 yDAI vault exploit, Yearn faced challenges rebuilding and galvanizing a community it was once touted for.
Yearn has lagged on a price-performance basis compared to other DeFi majors over Q4 2020 to Q1 2021; however, Yearn’s fundamentals have never been stronger. Behind the scenes, after months of building v2 vault core infrastructure, the Yearn team has shipped v2 Vault strategies – most recently, a YFI vault. Yearn’s TVL surpassed previous all-time highs and currently sits around $1.3 Billion. Looking at just v1 and v2 Vaults, Yearn’s TVL sits at $1.04 billion, $464M, which can be attributed to v2.
With DeFi blue-chips somewhat underperforming as a whole this month, I would not sleep on projects that continue to ship and show strong fu
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