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/biz/ - Business & Finance

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21942818 No.21942818 [Reply] [Original]

How the fuck do yearn vaults work? I just put in link and I get out more link than I put in? Can I take it out whenever I want? What is the APY? Where does the extra link come from?

>> No.21942874

>>21942818
Ponzi scheme
Unironically

>> No.21942910

>>21942874
Isnt yearn on binance?

>> No.21942954

>>21942818
Bump for interest

>> No.21943617

>>21942818
https://medium.com/iearn/delegated-vaults-explained-fa81f1c3fce2

They deposit the link on aave and use it as collateral to borrow USDC, the USDC goes into the yUSDC vault where it is invested in some rube goldberg money legos scheme that if I understood I wouldn't need yearn and any profit on the USDC is used to market buy link

>> No.21943962

>>21942910
how does that make the vaults not a ponzi?

>> No.21944391

>>21943962
It doesn't necessarily, but binance doesn't usually list out and out ponzis.

>>21943617
>some rube goldberg money legos scheme that if I understood I wouldn't need yearn

yeah thats the part Im wondering about

>> No.21944560

>>21942818
Dude on the left is a big guy