According to one publication On January 9, decentralized yield protocol Yearn Finance said that all users can now create sophisticated permissionless factory vaults on its platform. The current version of Vault Factory is powered by stablecoin exchange Curve Finance (CRV), Liquidity Provider (LP), and comes with three pre-built performance strategies.
“Our new Permissionless Vault Factory allows anyone to deploy a self-clearing yVault for any Curve fund with an active liquidity indicator. Yes, anyone. Factory-installed vaults have no management fee and have a flat 10% performance fee %. Cool”.
According to Yearn Finance, the first, dubbed the “Boosted Factory,” uses Yearn’s 45.1 million vote CRV balance to offer users a maximum 2.5x increase in CRV rewards. The second, “Convex Factory”, supplies additional CRV LP tokens beyond the maximum to the Convex Finance (CVX) decentralized platform for CRV and CVX rewards. Lastly, “Convex Frax Factory” allows users to access rewards on the Frax Share (FXS) algorithmic stablecoin platform.
“In all three strategies, any tokens won are regularly claimed, sold for more than the underlying Curve LP token, and then deposited back into the strategy to compound the return.”
Yearn Finance stated that the Vault Factory represents a “huge” step forward in automation that allows the company to reduce its cost of operations. All vaults deployed using the new method will have a 0% management fee and a 10% performance fee. Previously, management and performance fees were 2% and 20%, respectively. Performance fees go to Yearn’s treasury and are calculated on profits. Additionally, deposit and withdrawal fees are also set at 0% for new self-created vaults, although gas fees are still incurred during interactions.
Permissionless finance just got permissionless-er.
How much bear marketing building can we fit into one video? Let’s find out anon, try not to blink… pic.twitter.com/vYj7DcRMBo
—yearn (@iearnfinance) January 9, 2023
Permissionless finance is now more permissionless.
How much bear marketing can we cram into a video? Let’s find out, anon, try not to blink…
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