​​Yearn finance (YFI) On April 5, Yearn finance adopted a new | Crypto Great | Bitcoin | DeFi

​​Yearn finance (YFI)

On April 5, Yearn finance adopted a new token type that will be the “gold standard” for interest-bearing tokens.

Ethereum Request for Comment 4626 (ERC-4626) will be the new standard for vault tokenization on Yearn finance.

To build a single app on top of DeFi’s yield-bearing tokens, you have to write lines of complex, error-prone code that needs to handle unique variations of each token. ERC-4626 makes that a thing of the past…

Building an app on top of one ERC-4626 vault will work for all other ERC-4626 tokens. This is why developers at Balancer Labs, Alchemix, RariCapital, FEI protocol and OpenZepplin are working to integrate this new standard for vault tokenization.

Whether users are staking funds in Yearn Vaults, making deposits on AAVE, or providing liquidity to Balancer’s linear pools, you’ll be using the gold standard for interest-bearing tokens.

The more compatibility and coordination we have within the different chains in Ethereum’s ecosystem, the faster DeFi can develop and scale. A rising tide lifts all boats, and Yearn and its token stand to benefit – along with other projects – from this new token type.