How to earn yield with Yearn Vaults on Layer 2

The low cost way to earn on your crypto with Yearn

Edward Wilson
Jan 5, 2022

What is Yearn?

Yearn.finance offers a range of Decentralized Finance (DeFi) products that are designed to generate yield (i.e. interest) on your crypto.

One of Yearn’s most popular products - Yearn Vaults - allows you to easily get exposure to passive crypto investment strategies. They automatically find you opportunities in the market, adjusting their approach as market conditions change. 

How to earn yield on crypto with Argent and Yearn Vaults

You can easily earn yield on your USDC, DAI, ETH, or WBTC with Yearn Vaults in Argent on zkSync:

  1. Tap ‘Invest’ 
  2. Tap USDC, DAI, stETH or wBTC within ‘Earn on tokens you hold’
  3. Select ‘Yield Optimized’
  4. Enter the amount of the asset you would like to invest
  5. Tap ‘Review’
  6. Tap ‘Invest now’

You’ll then receive either yvUSDC, yvDAI, yvsteCRV, or yvWBTC based on the token you selected, representing the amount you have invested. 


Yearn takes a 20% performance fee (deducted from the yield) and a 2% management fee (deducted from the total balance per year).  

As we are using pooling to bring liquidity from L1 to L2, you pay a small gas fee to cover your share of the L1 transaction needed to rebalance the pool.

There are also zkSync network fees which will cost no more than a couple of dollars.

Further information


As always in crypto and DeFi, you should do your own research on the risks. These include smart contracts and the economics of the protocols. Yearn's audits can be found here.

Calculating APY

The yield displayed in the Argent app accounts for the fees that Yearn takes. Balances are not updated regularly, but on a "fluctuating basis" which means APY displayed is estimated off historical data.

How Yearn access works via Argent on zkSync

ZkSync is just getting started and smart contracts are coming with version 2.0 in 2022 - until then, we’ve partnered with leading DeFi providers to bring a selection of popular investment options and utilize atomic swaps on zkSync - a trustless, peer-to-peer way to swap tokens between two parties.

Disclaimer: This blog post is for informational purposes and is not financial advice. Investing in cryptocurrencies and DeFi involves risk and can result in you losing money. 

Further reading

Take control with Argent

A simple, all-in-one crypto wallet with bulletproof security. Buy, stake, earn and trade with low fees. Join our global community.

Download Argent

Related Blogs

How to use DeFi on Layer 2

Explore the future of finance at a fraction of the cost

How to fund your Argent Layer 2 account

It’s easy to onboard directly to your Layer 2 account

How to trade on Layer 2

Trade on Ethereum for low fees

Own It

We use 🍪 cookies to personalise your experience on Argent. Privacy Policy


HQ London, made with ❤️ across Europe