Yearn Finance, a beacon in the DeFi landscape, has forged a significant alliance with Base blockchain. This integration heralds a fresh era, ripe with new possibilities for Yearn's thriving ecosystem.
A brainchild of the Ethereum network, Yearn Finance (YFI) is distinguished in the decentralized finance arena. The platform’s forte lies in enhancing yield farming outcomes, pioneering Vaults backed by distinct strategies, and the governance empowered by its native token, YFI. Enabling user participation in governance and introducing innovations like "Zap and Earn", Yearn has cemented its reputation for breaking new ground in the DeFi sector.
Enter Base – a Layer 2 solution envisioned and executed by the crypto behemoth, Coinbase. Grounded in the open-source OP Stack, Base's core mission is to amplify scalability and drive cost efficiency for dApps. This Layer 2 solution works magic by processing transactions off-chain and later anchoring them to primary blockchains, circumventing the notorious scalability challenges posed by Layer 1 blockchains like Ethereum.
Coinbase has ushered in YFI support in an extensive array of regions, with the exception of New York. Echoing its client-first approach, the integration with Yearn Finance stems from surging customer appeals for a more diverse asset palette. Addressing this, Coinbase has also extended its embrace to other crypto entities including UMA, Celo, Numeraire, Band, Compound, Maker, and OmiseGo.
Coinbase has articulated its roadmap for YFI trading, which will see a phased rollout post ensuring ample YFI supply on their platform, striking a balance for a seamless market experience.
Since Base's mainnet debut in July 2023, it has been on a milestone marathon. Celebrating a daily user base exceeding 136,000 and cementing alliances with prominent DeFi entities like Aave V3 and SushiSwap, Base is gearing up to reshape the DeFi landscape in collaboration with Yearn Finance.
