Arbitrum has become the first Ethereum L2 to be integrated by top DeFi protocol Eiron. finance
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- Yearn.Finance (YFI) Explodes on Ethereum Scalability Network, Starting with Arbitrum
- More Arbitrum-based tools to come
Yearn.Finance (YFI), one of the most technologically advanced decentralized financial protocols, announced its expansion into Arbitrum, an Ethereum-based Layer 2 solution.
Yearn.Finance (YFI) Explodes on Ethereum Scalability Network, Starting with Arbitrum
According to an official statement shared on Yearn.Finance’s main Twitter account, its first tools are deployed in Arbitrum, a mainstream Ethereum (ETH) scalability solution.
Drumrollup please…
Earon has launched on Arbitrum.
Just four months ago, Eireann added support for its second blockchain: Phantom.
Today, Eire added its first Ethereum L2: @arbitrum,
— yearn.finance (@iearnfinance) 23 February 2022
Arbitrum is an inaugural Ethereum L2 solution to be added by Yearn.Finance (YFI). Its integration comes weeks after the release of Year.Finance’s Vault on Phantom.
The protocol team announced that Arbitrum was chosen because of its very low fees and wide integration limits: Arbitrum’s deposits are enabled by crypto exchange majors FTX and Binance.
In its inaugural release on Arbitrum, Yearn.Finance (YFI) offers a single vault called Curve’s Tricrypto. It accepts liquidity in three tokens: WBTC, WETH, USDT.
More Arbitrum-based tools to come
Developer of Yearn.Finance (YFI) released a detailed instructions How to Use Arbitrum for Produce Cultivation. In the future, Yearn.Finance (YFI) will be adding more Ethereum-based scalability tools:
This is just the beginning. More Arbitrum Vaults, L2 Roll-ups and Sidechain Vaults are planned as contributors seek to expand Eyr’s Perpetual Yield Machine across DeFi.
Yearn.Finance 2020 is one of the most popular and technologically sophisticated produce farming protocols of the DeFi Summer. As covered by U.Today, recently, a critical bug was uncovered in Yearn.Finance by a white-hat hacker.
A $2 million bounty premium was paid to Mr. Jay Freeman, who discovered the vulnerability.