Latest Posts with Yearn Finance (YFI) tag

Yearn Finance (YFI)

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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.


$DIGG — The 1st $100,000 Coin in Crypto?

25 Jan 2021 1 minute read 1 comment AlucardLife

Yearn.Finance made history as the first legitimate altcoin to surpass bitcoin in value. It needed an ultra low count to do so (30,000 max vs. 21 million), but it did achieve this. Now $DIGG, the rebase token from the Badger project, is knocking on th...

Will Bitcoin crash?

24 Jan 2021 1 minute read 5 comments Fab G

Bitcoin dominance is currently decreasing towards 60% and could even go lower according to the daily candles as shown on the graph below. Bitcoin has increased so much recently that it has attracted newbies, urging the whales to swap their BTC for ET...

$30k to $1 million passively challenge: Update 1

24 Jan 2021 3 minute read 4 comments MadMaxx

Hi everyone. Welcome to another article. First off, allow me to thank you all for the wonderful reception you gave the introductory post! Over 4k views and counting. Amazing! If you haven't read that post, then this one won't make much sense. So chec...

Bitcoin less risky than Tesla?

22 Jan 2021 1 minute read 2 comments Fab G

That's the conclusion of a recent survey: 56% of 627 respondents surveyed by Deutsche Bank last week claimed that BTC price more likely to halve in a year, and 25% said it's more likely to double, according to a report by Marketwatch. Meanwhile, 62%...

Should you buy cryptos before the weekend?

22 Jan 2021 1 minute read 0 comments Fab G

An article from Bloomberg last year mentioned that "Weekends are the Wild West for Bitcoin, but Nobody Knows Why". However, several reasons were mentioned to explain why weekends are good for Bitcoin, and these reasons are still valid in January 2021...

Is it still worth buying Bitcoin?

22 Jan 2021 1 minute read 0 comments Fab G

Usually, when BTC crashes, altcoins crash even more. In the last 24 hours, many altcoins did better than BTC as shown below (24 hr variation vs. BTC): Among them, XTZ, DOT, LINK, BTCST, INJ and YFI performed pretty well, with YFI making nice waves b...

Will YFI hit 1 BTC today?

21 Jan 2021 1 minute read 0 comments Fab G

Yearn Finance has lost some ground in favor of the other DeFi protocols in the last few weeks, e.g. Alpha Homora which is now also around $300m TVL. However, its upside potential remain huge, since its TVL has not been affected by the latest BTC cras...

Yearn.finance Voting on $206M Token Minting

21 Jan 2021 1 minute read 0 comments Abhimanyu Krishnan

Yearn.finance (YFI) governance community introduced a new proposal on Jan. 21 to fund the Yearn’s future operations, as seen in the governance forum. The proposal calls for the minting of 6,666 YFI tokens, worth approximately $206 million. The propo...

Yearn Finance launches V2 Vaults and price rises 15%

20 Jan 2021 1 minute read 0 comments Makingdigital

I have to scold you all. Yes. Everyone talking about damn Bitcoin but nobody talks about YFI. Absolutely nobody. This token is worth $32.000 gentlemen. What's going on here? Yearn.finance's decentralized platform continues to grow, even though no one...

$ASSY a new DeFi index in one token

15 Jan 2021 1 minute read 3 comments Pasucaru

Since the summer 2020, the decentralized finance (DeFi) appears to be the future full decentralized system for cryptocurrency. With DeFi protocol you can also access governance and farm your token to get rewards.If the USDC seems to be the best stabl...