Yearn Finance Signals Market Entry Into Multiple Chains With Launch On Fantom Network

Rather than manually moving cryptocurrencies from protocol to protocol in search of the best rate, Yearn performs this process automatically through its Earn product. Yearn Vaults is a step up, allowing users to invest their money in pools that implement more exotic profitability strategies beyond simple one-off deposits.

Until today's announcement, these services were exclusive to Ethereum. They are now appearing on the Fantom Network. Only after users have switched their network from Ethereum to Fantom in the Web 3 wallet can they interact with the first four Fantom-based vaults in the Yearn: USD Coin, Fantom, DAI, and the Magic Internet Money (MIM) stablecoin.

The yield is unknown at the time of writing, but users have already started filling the vaults, and the Fantom vault currently manages more than $51 mln.

Image: Tokeny