{"id":34286,"date":"2021-01-01T12:27:16","date_gmt":"2021-01-01T10:27:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34286"},"modified":"2025-08-28T19:41:51","modified_gmt":"2025-08-28T16:41:51","slug":"andre-cronje-founder-of-yearn-finance-unveils-new-defi-project-ycredit","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/andre-cronje-founder-of-yearn-finance-unveils-new-defi-project-ycredit\/","title":{"rendered":"Andr\u00e9 Cronje, founder of yEarn.Finance, unveils new DeFi project yCredit"},"content":{"rendered":"<p>The well-known founder of yEarn.Finance, Andr\u00e9 Cronje <a href=\"https:\/\/andrecronje.medium.com\/tokenized-yield-credit-via-ycredit-48330f312d2\" target=\"_blank\" rel=\"noopener noreferrer\">introduced<\/a> the new DeFi project \u2014 yCredit.<!--more--><\/p>\n<p>The platform allows depositing ERC-20 tokens and obtaining credit in yCredit coins at 99.5% of the deposited amount. For example, if a user deposits Ethereum worth $100, they would receive yCREDIT coins worth $99.50. To redeem the deposit in Ethereum, the yCREDIT tokens are burned.<\/p>\n<p>As of writing, yCredit supports tokens AAVE, BNB, BUSD, CRV, COMP, DAI, ETH, LINK, MKR, REN, renBTC, SNX, SUSD, TUSD, UNI, USDC, USDT, wNXM, wBTC, and YFI.<\/p>\n<p>A fee of 0.5% of the deposit is charged for each operation. The fees will be distributed among users staking yCREDIT.<\/p>\n<p>Cronje emphasised that the protocol remains experimental and that users should use it at their own risk.<\/p>\n<p>Earlier, Andr\u00e9 Cronje <a href=\"https:\/\/u1f987.com\/en\/news\/yearn-finance-founder-unveils-new-defi-protocol-deriswap\">introduced<\/a> the DeFi protocol Deriswap, which combines swaps, futures, options and loans on a single platform.<\/p>\n<p>Additionally, earlier the founder of yEarn.Finance <a href=\"https:\/\/u1f987.com\/en\/news\/yearn-finance-to-absorb-its-perennial-rival-sushiswap-a-fork-of-uniswap\">announced<\/a> the acquisition of the enduring rival Uniswap \u2014 the decentralized exchange SushiSwap. Prior to that <a href=\"https:\/\/u1f987.com\/en\/news\/yearn-finance-to-absorb-cream-finance-after-pickle-finance-merger\">there was<\/a> an integration of yEarn.Finance with the lending protocol Cream, the project <a href=\"https:\/\/u1f987.com\/en\/news\/pickle-finance-to-merge-with-yearn-finance-after-20-million-loss\">Pickle Finance<\/a> and the Argent wallet, the Akropolis project, and the peer-to-peer insurance market <a href=\"https:\/\/u1f987.com\/en\/news\/yearn-finance-teams-up-with-cover-protocol\">Cover Protocol<\/a>.<\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The well-known founder of yEarn.Finance, Andr\u00e9 Cronje, introduced the new DeFi project \u2014 yCredit.<\/p>\n","protected":false},"author":1,"featured_media":34287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,1869],"class_list":["post-34286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-yearn-finance"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=34286"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34286\/revisions"}],"predecessor-version":[{"id":34288,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34286\/revisions\/34288"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/34287"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=34286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=34286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=34286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}