Yearn Finance is ready to make a big move. This once-glorious DeFi aggregator is preparing for a "triple axe" reform — the core is to directly allocate 90% of the protocol's revenue to those who lock up YFI.

It sounds quite tempting, but the reality is: Yearn only made less than $200,000 last month. However, the ambition for reform lies in simplifying the governance model (discarding the previous vote escrow and using only a simple Lock-up Position), which gives YFI holders real motivation to participate. The previous model had a lock-up rate of only 3.8%, which already indicates a problem.

This plan also includes restructuring the DAO to increase profit orientation, enforce financial transparency, and retain core contributors through incentives. The three proposals are bound for voting, either all pass or all fail. Yearn is indeed taking a gamble—TVL fell by more than 90% that year, and now DeFi liquidity is at an all-time high, which is a critical window for a comeback. Whether it can seize this opportunity depends on this wave.