Yearn Finance Clone Script – Suite of products for a complete DeFi ecosystem
Though primarily built over Ethereum, Yearn Finance is a layer two blockchain protocol that offers a suite of Decentralized Finance products for investors. Yearn Finance Clone Script that taps into the smart contract capabilities of the Ethereum blockchain to generate Yield.
Yearn protocol is one of the fastest growing protocols comparatively beating Bitcoin’s price point in the year 2020 and grew over 435% within a few months.
Yearn Finance Clone script has an integrated suite of products like Earn, Vault and Insurance.
How does the administrator make money using the Yearn Finance Clone?
The protocol will automatically deposit transaction fee in the native cryptocurrency (ETH) to the admin’s wallet for any transaction made on the platform.
All the assets supplied to the protocol will be locked as collaterals under a smart contract. These can be staked to earn revenue from it. The APY yield can be shared with investors.
Every time an investor locks in liquidity, they are rewarded with a LP Token. As more and more users hold this token, over time the value increases. These can be listed on exchanges too depending on their value. Since you are the original creator of these token, the admin will hold a sizeable amount of these tokens.
What does Yearn Finance Clone Script do?
Yearn Finance offers a set of DeFi products like insurance, Yield generation, Liquidity supply and borrowing for consumers.
Anyone who wishes to borrow an asset can lock in their collateral to the network, and request the loan. The decentralized network then holds the assets under a smart contract with preset terms.
Since the beginning of the protocol, it has been touted as one of the best protocols that offer HIGH Annual Percentage Yield (APY) for supplying liquidity to the protocol.
Flash loans are unsecured loans is one of the latest innovations that allows for a faster loan disbursement. Instead of locking in a collateral, the loans are offered instantly and are repaid within a pre-specified short transaction window. If the loan isn’t repaid with interest, the transaction is rolled back.
DeFi Insurance on Yearn Finance Clone script works by seeking liquidity and governance from the community. The person signing up for insurance would pay a premium every month / week (set by the community) to insure their crypto assets. The premium is shared among the liquidity suppliers on the protocol. When the insured wants to claim their insurance, the community gets to vote on it for disbursal.
Yearn Finance clone script offers staking functionality for users who are looking to grow their investment. Their cryptocurrencies are locked into the protocol at a pre-specified rate of APY.
Features of the Yearn Finance DeFi protocol script
Earn a lending aggregator that optimizes the interest accrual process across multiple protocols to obtain the highest rates at all times. Deposits are automatically shifted between different protocols as rates change.
DeFi Vault uses a set of strategies to maximize the profits on the staked cryptocurrencies
DeFi Lending offers the interface for investors to supply liquidity to the liquidity pools for a certain interest rate. The interests are regularly deposited to the investor’s wallet.
Users can use DeFi-Transact to swap various assets bi-directionally into pooled interest-bearing tokens. The purpose of DeFi-Transact is to facilitate a more seamless and frictionless swaps between various coins.
DeFi Insurance (Solace DeFi Insurance Protocol integration)
We’ve integrated Solace protocol to offer DeFi insurance to assets on the platform. Your investors can also opt for supplying liquidity to Solace and receiving interest for the collateral supplied.
The script has a Robust admin panel that allows the admin to manage the entire platform.