What is Yearn Finance?
Yearn Finance is a suite of products in Decentralized Finance (DeFi) that provides yield generation, lending aggregation, and more on the blockchain. The protocol is maintained by various independent developers and is governed by YFI token holders. More information can be found here.
Getting Started With Yearn Vaults
ShapeShift's newest dapp (app.shapeshift.com) has integrated with Yearn Vaults which allows you to earn passive income by staking your assets or depositing them into a DeFi strategy.
1. Head over to the DeFi section of app.shapeshift.com.
2. Select "Earn".
3. There are many assets to choose from across multiple chains. Select the vault that you would like to deposit into. For this example we will be selecting USDC.
4. Click "Get Started" next to the asset of your choice.
5. Enter the amount you'd like to deposit. Approve the token and confirm the deposit.
6. That's it! You will now start earning passive income. Please keep in mind that each asset has a different APR% so the amount you earn will vary. You can check your earnings via the "Overview" section.
More information can be found at Yearn's site here.