The first informal Yearn.finance quarterly report has been released by the community and reveals the DeFi protocol’s revenue is dominated by the yUSD vault.
The report, spanning August 20 to October 20, was created by DeFi community members and has not been officially audited by any accounting firms. It states that net income for the three month period was $3.79 million with the majority of that coming from yVault product offerings.
The yUSD vault was responsible for the lion’s share of revenue with 68% of the total. The yETH vault introduced in September generated $545,000 for the period but it was soon suspended to mitigate risk and losses. That vault remains closed to depositors and is earning less than 1%, however Yearn will be relaunching it during the upcoming release of version 2 vaults.
The majority of the revenue from these vaults has been generated from the 0.3% withdrawal