The YFI at $39,000 dollars... But not for long time

By Gamma | Gamma | 1 Sep 2020


The YFI at $39,000 dollars... But not for long time

Warning: Yearn should be considered experimental and a work in progress. There is no guarantee that your funds will be safe to use.


The YFI, the governance token of the Yearn.Finance project, a protocol of decentralized finance (DeFi)

the YFI and an ERC-20 token which is exchanged for about 3 BTC per unit. He is starting to be talked about because in less than two weeks he has experienced an increase of almost 900%... from $4,000 to $38,500.

Its centerpiece is the ability to automatically invest user deposits in the most cost-effective location available in the DeFi ecosystem with Yearn Vaults.

 

64e6a577a22b8b0da24bad789ff279cf43077d25bf97e86b909533eb2f7713b2.jpeg

Source: TokenTerminal

All this is explained by the fact that there are no more than 30'000

The current market situation is very different from the past. For several months now, a real craze has been spreading around decentralized finance and the governance tokens of its many protocols.

The service is not free, as performance fees and other costs are levied along the way. These fees may be paid to YFI token holders in the form of dividends, in an amount decided by the YFI holders.

Source : Token terminal

Source: TokenTerminal

Even if for people who don't have much experience in this field it can be seen as a big opportunity but don't be fooled, in this case there are a lot of FOMO's because let's also say that decentralized projects (DeFi) are not something new but in 2020 they are the fashion...

 

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