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.


5 Most Important DeFi Breakthroughs of Q3 2020

17 Sep 2020 8 minute read 9 comments yourmitchy

DeFi continues to grow at an unprecedented pace, and its very difficult to keep up with the crucial breakthroughs occurring. As a result, I wanted to weed out the most important breakthroughs that we have witnessed in Q3 that are bound to take the en...

Gas Price: how to spend less on Ethereum transactions

13 Oct 2020 3 minute read 28 comments Roberto D.

The price of Ethereum is closely linked to the cost of transactions. Starting from the price of ether, understanding where transaction costs come from and how to save becomes essential, not only to carry out low-cost transactions but also to understa...

Know all YFI forks

31 Aug 2020 4 minute read 8 comments paragism

Cover Image Source YFI price crossed $38,000 today in many major exchanges. YFI started to trade on Uniswap in the month of July’20 from the price of $32. Price of YFI has really exploded since then and it is now the costliest cryptocurrency. YFI is...

🔥A Mixture of DeFi, Insurance and NFT Mining?

6 Oct 2020 1 minute read 4 comments Dapp.com

  You might have seen a lot of DeFi NFT projects these days and learnt some new ways to play with and earn from NFTs. Today we’re going to introduce you to what happens when NFT meets DeFi and insurance.     Buy DeFi Insurance, Get NFTs   yInsure, a...

Three DeFi Coins That Could Be Nearing a Bottom (TA - 16th of October)

16 Oct 2020 1 minute read 4 comments pheonixdown-dee

3 DeFi coins, Yearn.Finance (YFI), SushiSwap (SUSHI), and Uniswap (UNI) might be nearing a bottom, but UNI and SUSHI have shown some bullish reversal signs while YFI is lagging. In this article, we’ll briefly look at all three coins and determine wh...

DeFi Community in Tears After Rushing Into Unaudited $EMN Contract

29 Sep 2020 1 minute read 8 comments Abhimanyu Krishnan

DeFi enthusiasts on the lookout for the next hidden gem have been left burnt after investors of Eminence Finance (EMN token) have lost funds as a result of the protocol’s unaudited contracts. The EMN protocol was subject to a flash loan exploit whic...

How YFV Pulled $150M From Balancer in 24 Hours (Full Story)

12 Oct 2020 5 minute read 2 comments Adamic0

If you clicked on this piece, it probably means that you are familiar with Balancer - an Automated Market Market (AMM), which is the second biggest in the industry after Uniswap or YFV - a tweaked version of YFI.  Now, let me tell you something quite...

Notable Grants by Andre Cronje & Yearn Finance

25 Sep 2020 7 minute read 3 comments kevW!ls0n

GitCoin is a platform that allows open-source developers to come and ask for bounties that are fulfilled by the community. The platform’s mission is to grow the open-source scene and help developers to fund their projects. Andre Cronje, creator of Ye...

Can yETH bring the Ethereum bull back?

7 Sep 2020 2 minute read 4 comments paragism

Cover Image Source Bitcoin topped $12,000 some days back before crashing toward $10,000. The global stock market also plunged along with Bitcoin. $10,000 is a crucial support for Bitcoin. Ethereum outperformed Bitcoin in the last a few months as per...

$YFI, $YFII & $YFV - What are These and How They Differ?

25 Aug 2020 4 minute read 5 comments Adamic0

It's hard to catch up with DeFi these days.  I know. There are new projects that pop up every day, and it is becoming difficult to recognize what has a potential future and what is just a fly-by-night launch. Not so long ago, it was just Compound and...