Yearning for EthereumYearn Finance becomes the first to adopt Ethereum’s new token standard ERC-4626, much to the delight of developers.
- Yearn Finance – a De-Fi platform involved in techy stuff like liquidity provision and leveraged trading – is happy with the solution. On Twitter, Yearn shared its excitement about the adoption, being the first major protocol to do so. Yearn’s approval could signal to other crypto projects that ERC-4626 is the new big thing for De-Fi.
- ERC-4626 sounds like the boring brother of HAL 9000, but it’s pretty useful – set to resolve the issue in De-Fi of not having a standardized way of integrating yield-bearing tokens. Now, apps built on top of one ERC-4626 vault will work for all other ERC-4626 tokens. What will devs do with all their new free time?
- That said, YFI is longing for better times in terms of price, sinking 20% last week and continuing the losses into Monday. Gulp. ERC-4626 could prove a boost for the token in the long term, though – especially considering the attention Ethereum will be getting with its merge around the corner.
2/ Here’s the tldr on ERC-4626:
Yield-bearing tokens are a mess
Yield aggregators, vaults, lending markets and native yield tokens like $xSUSHI are often implemented with slight variations
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