{"id":268036,"date":"2021-06-06T18:24:35","date_gmt":"2021-06-06T15:24:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/yearn-finance-in-miami-developer-talks-new-vaults-products-and-verticals\/"},"modified":"2021-06-06T18:24:35","modified_gmt":"2021-06-06T15:24:35","slug":"yearn-finance-in-miami-developer-talks-new-vaults-products-and-verticals","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/yearn-finance-in-miami-developer-talks-new-vaults-products-and-verticals\/","title":{"rendered":"# Yearn.Finance in Miami: Developer talks new vaults, products, and verticals"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6af6cf08d0e80\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6af6cf08d0e80\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/yearn-finance-in-miami-developer-talks-new-vaults-products-and-verticals\/#New_chains_new_products\" >New chains, new products<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/yearn-finance-in-miami-developer-talks-new-vaults-products-and-verticals\/#Growth_and_tokens\" >Growth and tokens<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/yearn-finance-in-miami-developer-talks-new-vaults-products-and-verticals\/#Hiring_spree\" >Hiring spree<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Yearn.Finance in Miami: Developer talks new vaults, products, and verticals  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvY2Q3NGFiNjgtYTQ4YS00ZDZiLWI5NjItMDQwOTM5NmQzZTc5LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Two sweltering blocks from the gated entrance of Bitcoin Miami I managed to track down a core contributor for one of the most important projects in decentralized finance (DeFi). Flanked on all sides by clueless Bitcoiners, pseudonymous Yearn Finance vault security specialist &#8220;Doggy B&#8221; chatted with Cointelegraph about the future of the yield vault protocol \u2014 the anoles scurrying by our feet just as oblivious to the alpha being leaked as the maxis chatting about Tony Hawk and Floyd Mayweather.\u00a0<\/p>\n<p>Describing without doxxing is a delicate exercise, but here goes: think a late Che Guevara beard, Unibomber sunglasses, and everything else giving off a pragmatically nonde<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">script<\/a>, \u201cundercover FBI agent\u201d vibe \u2014 except, of course, the pleasant and amiable demeanor. <\/p>\n<p>In the 25 minutes it took to get through the gate, Doggy broke down protocol expansion, new products, and Yearn\u2019s unique brainpower moat \u2014 all of which points to steady growth for a project that\u2019s been firing on all cylinders as of late. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"New_chains_new_products\"><\/span>New chains, new products<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>As with many DeFi protocols, layer-2 has been a focus for Yearn\u2019s developers and vault strategists.\u00a0<\/p>\n<p>\u201cA lot of the strategists have been playing with sidechains, re-deploying vaults on sidechains,\u201d Doggy told Cointelegraph. \u201cThe vault would still be on ETH, but it would source liquidity via a bridge from the sidechain.\u201d <\/p>\n<p>The only barrier left is that the bridges between chains can often be \u201cflaky,\u201d as Doggy put it \u2014 taking hours or even days to process, making traders and developers antsy. In the end, he thinks that rollup solutions are where the space will largely migrate. <\/p>\n<blockquote><p>\u201cI see it as practice for more \u2018intense\u2019 layer-twos like Optimism and ZK-sync. Hopefully that\u2019s where Ethereum is going long-term.\u201d\u00a0<\/p><\/blockquote>\n<p>He also shared that vaults are in the works that utilize decentralized exchange liquidity pool positions, a long-awaited product fraught with complications.\u00a0<\/p>\n<p>\u201cWe\u2019ve been working for a while to try and get DEX strategies to work, because you have to deal with impermanent loss,\u201d he said.<\/p>\n<p>The difficulty with these positions is in limiting downside from impermanent loss, especially at times of market volatility. Options derivatives for hedging positions was one strategy initially tested, but decentralized option platforms largely lack liquidity and the pricing makes it an impractical solution.\u00a0<\/p>\n<p>The current working model is using liquidity from two vaults \u2014 say, ETH and WBTC \u2014 and combining them to create a DEX pool position as part of the underlying vault strategies, he said.<\/p>\n<p>Regardless of the exact method, finding a workable DEX strategy is a priority given its one of the few sectors Yearn has yet to explore. <\/p>\n<blockquote><p>\u201cObviously it\u2019s an order of magnitude more complex, but DEXes are the only vertical where it\u2019s billions of dollars that we haven\u2019t tapped yet.\u201d<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Growth_and_tokens\"><\/span>Growth and tokens<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Aside from expanding the functionality of the vaults, Yearn joins multiple other teams in exploring new verticals and products. While the market continues to reel from a 50% drawdown across the board, DeFi protocols are shipping at alarming speed, with Sushiswap, 1inch, and Aave expanding to new chains and protocols.\u00a0<\/p>\n<p>However, it remains an open question as to how projects best expand from a tokeneconomic standpoint. Synthetix, for instance, is planning four new protocols which will each feature their own new token. <\/p>\n<p>Doggy said the Yearn team is more conservative with the money printer. <\/p>\n<p>\u201cThe idea of a token is a conceptual focal point \u2014 you can kind of rally behind it. There is something to be said if it makes sense to have, you can kind of go for it \u2014 we just haven\u2019t found many things where it makes sense to have one, aside from printing more money.\u201d<\/p>\n<p>He pointed towards Keep3r as an example where the project called for a new token, and teased that the team might mint one for Yearn\u2019s forthcoming insurance offering, though the decision is still being discussed internally and Doggy\u2019s sense is that they won&#8217;t \u2014 after all, a new product could also drive value for the YFI token.<\/p>\n<blockquote><p>\u201cThere\u2019s something to be said for Aave, where their token is an insurance backstop for the money market. That could drive YFI usage, drive value for YFI, without just printing new tokens. [\u2026] Andre has made some stuff, and we\u2019re waiting for it to be production-ready.\u201d\u00a0<\/p><\/blockquote>\n<p>After the dissolution of a merger with insurance\/coverage protocol Cover, Yearn has been in need of an insurance solution \u2014 along with the rest of the market. Despite users frequently requesting more coverage solutions, few products have managed to take off. The largest is Nexus with a half billion in TVL, and they may soon grow larger via a dissolution of their legal entity and a need for KYC burdens.\u00a0<\/p>\n<p>Doggy declined to give a guesstimate on the timeframe for when Yearn\u2019s insurance product would launch.<\/p>\n<p>\u201cCould be in a few months, could be tomorrow,\u201d he joked. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Hiring_spree\"><\/span>Hiring spree<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The protocol is growing rapidly, with March serving as a banner month as the vaults brought in $4.88 million in revenues. Likewise, per DefiLlama vault TVL looks to be entering parabolic growth, eclipsing $4.3 billion and placing the protocol in the top-10 by size.<\/p>\n<p>However, the metric Doggy pointed to was hiring. The team currently sits at 35 people amid a spree of new additions, with more coming on \u201cevery day.\u201d <\/p>\n<p>He noted that raw human talent is especially important for a protocol which sees a new fork on a near-monthly basis \u2014 in fact, it\u2019s what will keep them competitive in the long run. <\/p>\n<blockquote><p>\u201cCode is free, brains are not.\u201d\u00a0<\/p><\/blockquote>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/yearn-finance-in-miami-developer-talks-new-vaults-products-and-verticals\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Yearn.Finance in Miami: Developer talks new vaults, products, and verticals &#8221; Two sweltering blocks from the gated entrance of Bitcoin Miami I managed to track down a core contributor for one of the most important projects in decentralized finance (DeFi). Flanked on all sides by clueless Bitcoiners, pseudonymous Yearn Finance vault security specialist &#8220;Doggy&#8230;<\/p>\n","protected":false},"author":1,"featured_media":268037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvY2Q3NGFiNjgtYTQ4YS00ZDZiLWI5NjItMDQwOTM5NmQzZTc5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74868,74891,83051,74892],"class_list":["post-268036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-defi","tag-ethereum","tag-sidechains","tag-tokens"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/268036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=268036"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/268036\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/268037"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=268036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=268036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=268036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}