HomeCoinsyearn.finance (YFI)Yearn Partners: Building with yVaults | by Marco Worms | Yearn |...

Yearn Partners: Building with yVaults | by Marco Worms | Yearn | Mar, 2022

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#buidl
#buidl
  1. Using yVaults as collateral for lending/borrowing
  2. Using yVaults to generate yield with user funds

In 2021, Yearn shared $2,793,161 with partners through the partnership program

  1. User deposits wETH (wrapped Ethereum, same as Ethereum) into a yVault, receives yvWETH
  2. User deposits yvWETH on Abracadaba as collateral, Abracadabra allows the user to mint a percentage of their collateral as a dollar stablecoin called Magic Internet Money (MIM)
Abracadabra “borrow” interface
Abracadabra borrow interface
  • If the user pays back in time then the collateral is unlocked, if it’s a yVault this would mean your yVault tokens get returned with all profits gained while they were locked!
  • If the user doesn’t pay back in time, part of your collateral will be used to pay for the service (liquidated)
  1. User deposits DAI or ETH into Alchemix
  2. Alchemix deposits DAI or ETH into Yearn Vaults to generate yield for the user (and automatically repay the loan taken next step).
  3. User can borrow up to 50% of deposited collateral as DAI and up to 25% as ETH as alUSD or alETH (can be converted to DAI or ETH in Alchemix ecosystem) which locks the deposited amount proportionally to how much was borrowed
  4. As the deposited amount in step 2 generates yield it pays back for the user loan automatically and the user can then withdraw proportionally to the yield generated
Yearn Partners: Building with yVaults | by Marco Worms | Yearn | Mar, 2022
Alchemix ecosystem
Yearn Partners: Building with yVaults | by Marco Worms | Yearn | Mar, 2022
ShapeShift earn section
SteakWallet app
SteakWallet interface





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