Introduction to the Yield Protocol

Quick Take

  • Yield Protocol v1, which launched October 19th on Ethereum mainnet, enables fixed-rate borrowing and lending for DAI.
  • Previous crypto lending protocols have generally focused on variable rate lending, with interest rates set by governance or a formula.
  • Three of the five most valuable crypto protocols by total value locked are lending services, with a combined $2.4 billion in outstanding debt between them.

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