How much money do Ethereum whales make on yearn.finance?

By depositing millions of dollars in decentralized liquidity pools to earn interest, ethereum whales are pushing the decentralized finance (DeFi) industry forward in their own way.

At present, most DeFi users use yearn.finance. This platform seems to have a group of automated robots that provide financial services for people. The highest interest is enough - yearn.finance is like opening a very smart savings account for you.

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But the problem is that the calculation of DeFi’s real income farming income is not transparent, and it is difficult to distinguish the actual income of “farmers” from farming. Some people say that the annual rate of return of DeFi can exceed 1000%. This statement is somewhat misleading, because the interest rates given by these projects are calculated on the basis of "a whole year", and the farming that actually gives specific rewards usually only lasts for a few days or a few days. Weeks, and the reward will gradually decrease over time, so the accurate term for this indicator should be "expected return".

Total Stablecoin Supply Increases Nearly 70% in 3 Months: The cryptocurrency market has seen unprecedented growth in demand for stablecoins in recent months. Since February 5 of this year, the total stablecoin supply has increased by 69.4% from $5.68 billion to $9.62 billion. It is unclear whether the new supply comes from new demand, or if users want to convert existing cryptocurrencies into stablecoins. Tether remains by far the most popular stablecoin, currently accounting for over 84% of the entire stablecoin supply, with USDC and PAX holding 7.4% and 2.6% shares respectively. Separately, adjusted stablecoin trading volume, published by Coin Metrics, hit an all-time high in March. (The Block)[2020/5/5]

yearn.finance has many different vaults for DeFi users to choose from. Each vault has different basic assets and exclusive strategies to achieve return on investment. Currently, the most popular one is the yCRV vault. The vault farms CRV tokens and transaction fees utilizing yCRV tokens, a DeFi tokenized basket based on DAI, USDC, USDT, and TUSD.

Site | Dean of CCID Blockchain Research Institute: Blockchain applications are ubiquitous: Jinse Finance live report, on August 5th, at the first China Blockchain Media Social Responsibility Forum, the Ministry of Industry and Information Technology CCID Think Tank Network Security Research Institute Liu Quan, director of CCID Blockchain Research Institute, pointed out that governments around the world are supporting the development of blockchain technology. The application direction of the blockchain includes: cross-system applications; important applications that pay more attention to safety and credibility; application fields are ubiquitous. The principles of applying blockchain include: new systems, new applications; bottlenecks in existing information applications. The impact of the blockchain on social and economic development: With the blockchain, all future information will be open to the chain, and everyone's right to trace the source is equal; the future production relationship is based on blockchain technology, With the development of artificial intelligence in the future, the problem of excess production capacity in the future will be very serious. [2018/8/5]

Below, we use the yVault ROI calculator created by Flipside Crypto COO Matt Bridges to analyze the returns of three "Ethereum whales" on yVault. (Lianwen Note: The analysis data comes from a subgraph of thegraph.com platform built by a yearn.finance developer.)

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1. In the yCRV vault, the largest whale has $40.6 million in funds, and he/she has received a return of $500,000 in the past three weeks.

The chart below shows the return on investment trend of the largest whale in yCRV who invested a total of 38.5 million yCRV tokens in the yCRV vault, which is equivalent to 40.6 million US dollars (1 yCRV = 1.06 US dollars), and the x-axis represents the Ethereum area Numbered at the block height on the blockchain, the person initially invested at block height 10,750,000, which was validated by miners on August 28, and has earned $497,395 in returns since then.

2. A one-time investment of more than 97 million US dollars has earned 847,000 US dollars in the past three weeks.

The account balance of this “giant whale” on September 2 was 92 million yCRV tokens (block height 10,780,000), worth approximately $97,705,449. Since August 28th, the accumulated return on investment of this "giant whale" has reached 799,194.51 yCRV, worth about $847,145.64. Simple calculations show that the return on investment is 2.17%, and the annual rate of return is 40.46%.

3. Deposit a total of 10 million US dollars, and get 177,000 US dollars after three weeks.

This giant whale did not deposit a large amount of funds at one time, but deposited 10.9 million US dollars in the yEarn vault step by step, and then sold it on September 12 (block height 10,850,000), and the income was 167,165 yCRV tokens, That's about $177,194.

Overall, the risk of investing in yVault is actually very small, because there is basically no capital risk, even if the Curve price drops to zero, people will at most not be unable to get any returns, but they will not lose money. The only way they could lose money is if the underlying asset loses value entirely — or if the stablecoin fails to support the peg.

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