Note: All anyone has been able to talk about over the past week is a new project on the scene: Yearn.Finance (YFI). We’ve been taking our time to fully digest the project to provide you some actionable insights but wanted to flag the project on all our clients radar. Just as an FYI, members of our team have purchased YFI over the past week but it is not a sizable portion of any of our portfolios.

YFI has hit the crypto scene hard and fast. The project was launched about a week ago and has an extreme level of interest and participation (just take a look at all the active governance discussions despite the project’s very young age) and has attracted north of $400M in AUM (which places the protocol above Curve’s $342M and right below Synthetix’s $480M in locked capital).

At its core, Yearn.Finance automates the complex world of yield farming by automatically depositing stablecoins in the highest yielding protocols (Compound, AAVE, Curve and others).

(An active discussion form on protocol improvements despite the project’s young age)

A quick token history primer

Creator: Andre Cronje created YFI with no premine and kept no tokens for himself which was unnaturally fair for the community.

(YFI’s holder distribution is expansive)

Supply: 30k initial max token supply (Proposal 0 has pass