Yearn Finance (YFI)

238 Articles 481 Followers

YFI is the governance token behind the platform Yearn.Finance, which opened its doors in mid-May by Andre Cronje. It is an ERC-20 token that is built on top of the Ethereum blockchain.  The YFI token itself was launched on July 17th, 2020, and it was considered to be a completely fair launch with zero pre-mine, founders fee, or pre-sale, or investors. 

The Yearn Finance platform was single-handedly developed by Cronje himself as he was frustrated with the manual work behind finding the best yields inside the DeFi Sector. At the time, Cronje was managing his family’s wealth by depositing the funds onto lending platforms in the hunt for the best returns. The frustration came when Cronje would have to manually switch between lending platforms as the APR value changed. With each switch, Cronje was forced to pay for increasing GAS transaction fees.

As a result, Cronje created Yearn Finance, a liquidity aggregator that provides an automated yield farming strategy that actively searches for the highest yields on lending platforms such as Aave or Compound. Initially, the platform was coded just for his own use, but as Andre could not handle the financial side of the project himself, he released it to the wider public.

With the launch of the YFI token, the community is now in control of which direction Yearn Finance will head toward as they use the token for voting on governance proposals. The ‘fair launch’ saw many liquidity providers scrambling to deposit liquidity into the allocated pools to farm and earn YFI as a reward. This distribution method meant that everybody had an equal ground to be able to get their hands on YFI tokens. 

In this tag, you can discover Yearn Finance (YFI) news, price prediction, opinion, and analysis created by users.

curve or why (not) earn on stables

18 Dec 2023 1 minute read 0 comments ahinga

with curve, suddenly new options become apparent... it do not remember exactly when they launched, i believe it was shortly after balancer mid 2020. the ui looked like a desktop from the 90s and was somehow hard for me to fully understand. but thei...

How To Earn YFI with Yearn Finance?

27 Nov 2023 3 minute read 1 comment Guarda Wallet

This text is written for information purposes only and never constitutes a call to action. All financial transactions carried out by you are made at your own risk. The Guarda editorial staff reminds you of the riskiness of all kinds of speculation on...

Market Weekly Insider: Too Bullish? Your Right... ~Optimize Your Wealth~

21 Oct 2023 2 minute read 0 comments F Sharp

Overall Markets Let's start with the fact that it's been a while since the market has had a good opportunity for swing trades and spot purchasing. My previous post was about how we will not be reaching higher prices. In fact, the DOW JONES topped sin...

Funniest crypto June 1st

2 Jun 2023 2 minute read 8 comments Dave Sawyer

Cryptonauts we love you!! Thanks for hooking up to ride for laughs for a better crypto future!!  What do we get for crypto funnies today? Here's one- CZ says Binance has a wall street like program of laying off non performers all the time!!  Called "...

What is Yearn Finance?

26 Mar 2023 4 minute read 2 comments

Yearn Finance has emerged as a leading player in the rapidly evolving world of decentralized finance (DeFi), providing users with a suite of innovative products designed to simplify yield farming and lending experiences. As the DeFi landscape contin...

Yearn.Finance (YFI) Price Update: Key Resistance Levels

6 Mar 2023 2 minute read 4 comments mercurial9

Yearn Finance (YFI) is a decentralized finance (DeFi) protocol that allows users to optimize their yield farming strategies across various protocols in the ecosystem. It has gained significant popularity since its launch in July 2020, but its price h...

Day 30/365: Yearn Finance ($YFI)

26 Feb 2023 1 minute read 0 comments LeftFooted

I thought this'd be a good time to talk about Yearn Finance - ticker symbol $YFI - partly because the weather is kinda s**t today and also because YFI has been pumping for seemingly no reason. Launched in 2020 by Andre Cronje, a South African softwa...

Ebullient Market Reaction to Less Aggressive Fed; ETH Is Most Wanted Before the Merge

9 Aug 2022 2 minute read 0 comments Mike Ermolaev

With the Federal Reserve raising interest rates by 0.75 percentage points for the second consecutive time in an effort to contain runaway inflation, Bitcoin, in line with all markets, responded in a positive manner. Despite the 75 BPS rise, market pa...

Yearn Finance Comic - Part 6

4 May 2022 3 minute read 0 comments xuanling11

Thinking it too late to buy Bitcoin? How about earning Bitcoin through daily spinning? Try Fold App here and start your Bitcoin earning journey with a free $2 to start! A Defi strategist is a person to invents a new way to beat the market 👨‍💼.  ...

Yearn Finance Comic — Part 5

1 May 2022 4 minute read 0 comments xuanling11

Did you know you can earn crypto through Honeygain now? Jumptask has partnered with Honeygain to boost your passive income! You can earn more than a 50% bonus through crypto! Check out here for the announcement and join here to earn your $5!   Secu...