Bankless SOTN #12: Positioning! w/ Mariano Conti (yEARN deep dive, ETH Golden Age, ETH P/E, Sushi!)
Sep 2, 2020
Mariano Conti, a DeFi expert and former Maker Foundation member, dives into the exciting developments in yield farming and the yEARN protocol. He discusses the explosive growth of yETH and its governance, alongside the competitive landscape between Sushi and Uniswap. Conti highlights Ethereum's undervaluation compared to tech stocks and analyzes the current golden age for ETH. The conversation also covers community-driven strategies and innovations like decentralized insurance, showcasing how DeFi is transforming the financial landscape.
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Yearn's Unique Appeal
- Yearn.finance's YFI token is unique because it makes money for holders from day one.
- Its immaculate conception story and rapid price growth have revitalized interest in DeFi.
yETH Vault Synergy
- The yETH vault leverages Ether in MakerDAO to generate DAI, which then farms yield in Yearn.
- This creates a symbiotic relationship benefiting ETH, MakerDAO, and YFI, driving their values up.
Mariano's Farming Strategy
- Mariano Conti uses his YFI as collateral on Aave to borrow and farm Sushi.
- He avoids direct YFI farming to prevent impermanent loss from automated market makers.