yEarn.Finance is preparing to update the vault against a background of falling liquidity

The developers of yEarn.Finance have announced the update of the yVaults repository, aimed at increasing its flexibility and security.

The announcement by the project representatives states that the current version of yVaults has allowed yEarn.Finance to scale to the point where it is currently.

The optimisation of the developer’s warehouse has been stimulated by maintenance difficulties and the lack of some functions that affect safety and risk/return ratio.

The upcoming update will allow yVaults to optimise the development cycle of new strategies using a standard API, expand their available options, and make the storage easier and safer to use.

The announcement came out against the backdrop of the ongoing withdrawal of frozen YFI tokens from DeFi protocols: over the past 30 days, liquidity has fallen by approximately 25% to $629 million.

At the time of writing, yEarn.Finance was ranked seventh in terms of frozen assets. The leaders are still Uniswap ($2.22 billion) and Maker ($1.82 billion). Curve Finance was fourth with $1.11 billion, WBTC was fifth with $998.4 million, and Compound was sixth with $769.5 million.

Since 12 September, when the YFI token reached a historic high of $43,678, its price has fallen by 64.9% to $15,260, according to CoinGecko.

Recall that in September the developers of yEarn.Finance announced the launch of the StableCredit protocol. It is planned to include tokenized debt stabilitycoins, lending and automated marketing.