Yearn Finance
Liquidity · Vaults · YFI
Yearn pioneered the yield-vault model: users deposit assets and Yearn vaults (yVaults) route them into the best available strategies — including Curve LP + Convex farming — auto-harvesting and recompounding rewards.
The original DeFi yield-aggregating vaults.
YFI price
$1819.52
+3.6% 24h
Latest data · 15 min delay
Risks identified
- Smart Contract
Vault and strategy contracts are complex and have been exploited historically (Feb 2021 V1 DAI vault ~$11M via flash loan; April 2023 legacy yUSDT misconfiguration ~$10M+). A copy-paste/config error persisting for years shows how latent bugs in legacy code can be catastrophic.
- Systemic
Yearn strategies deposit into and depend on underlying protocols such as Curve, Convex, Aave, Compound and Liquity. A failure, exploit, depeg or economic attack on any of those base protocols (e.g. the Curve 3CRV pool manipulation used in 2021) can propagate losses into Yearn vaults.
- Oracle
Some strategies rely on price/exchange-rate assumptions and pool ratios; the 2021 exploit manipulated a Curve pool exchange rate and the 2023 exploit manipulated share-price/pool-ratio calculation, both effectively pricing/oracle-adjacent manipulation vectors.
- Governance
Protocol direction, gauge weights, strategy approvals and treasury allocation are controlled through veYFI vote-escrow governance; concentration of locked YFI or governance capture could steer risk parameters or strategy whitelisting against depositor interests.
- Collateral
Newer products wrap third-party assets whose stability Yearn does not control — e.g. yBOLD's exposure to Liquity V2 BOLD and its Stability Pools, and yCRV/yETH exposure to CRV and staked-ETH LSTs — so depeg or underperformance of the wrapped collateral flows through to holders.