Yearn Community Approved the "Launch v3 Proposal"

The Yearn community has approved 'Launch V3' proposal. Yearn V3 system will allow anyone to deploy the latest generation of yield-generating Vaults and Strategies without permission. Yearn V3 seeks to commoditize the functionality of Yearn Vaults and simplify the writing of Strategies.

In V3, both Vaults and Strategies are fully independent ERC4626-compatible Vaults. V3 Vaults can not only deploy capital to multiple Strategies but also accept funds from various Vaults. V3 Vaults act as debt managers, approving Strategies that can balance debt, with users paying fees for debt management.

By being compatible with 4626, the Strategies interface will immediately standardize with many protocols in DeFi, allowing any 4626-compliant protocol to connect to V3 Vaults without new strategy code or deployment, reducing Vault accounting complexity and gas fees.

V3 also introduces protocol fees, which will be set by Yearn Governance and calculated as a percentage of the total fees collected when any V3 Vault or Strategies report.

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