Yearn Finance is a suite of products in Decentralized Finance (DeFi) that provides lending aggregation, yield generation, and insurance on the Ethereum blockchain. The protocol is maintained by various independent developers and is governed by $YFI holders. It launched in February 2020.
The $YFI token is a tool for coordination between Yearn Finance's contributors, community, and associated protocols. It was created to decentralize the management and development of Yearn Finance products while providing an environment for innovation.
Yearn Finance set out to simplify DeFi investment and activities such as yield farming for the investor sector. The platform makes use of various bespoke tools to act as an aggregator for DeFi protocols such as Curve, Compound, and Aave, bringing those who stake cryptocurrency yield.