In this article, we look into what one can do with their YFI to earn yield in DeFi, what risks are associated with each option, and the approximate yield you could get. All APY quotes are from April 27th. All positions that take out debt assume borrowing at 70% of the max rate to be able to withstand a 30% reduction in YFI price. This is not financial advice. Interacting with DeFi protocols is risky, please do your own research. Before you start, consider insuring your YFI with DeFi Insurance A note about DeFi insurance and how it works. DeFi insurance mostly covers bugs in the solidity code that leads to a material loss of funds for that specific protocol. But be sure to read each Defi insurance documentation carefully to know what they do and don't cover. As an example, say someone had insurance for their yearn vault, but there was a bug with MakerDAO's code and the vault's CDP lost some funds because of this. This person having only insurance on Yearn, wouldn't be able to claim any losses and their insurance wouldn't payout in this case. This is because it was not a bug in yearn's smart contracts that caused the loss. For more info on insurance feel free to ask in our discord in #support.