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.


What is Yearn Finance?

26 Mar 2023 4 minute read 2 comments MintDice.com

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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...

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6 Mar 2023 2 minute read 4 comments mercurial9

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Top Things You Should Know About Yearn Finance (YFI)

1 Sep 2020 7 minute read 8 comments MuyAsk

Hey guys :) I’m back with another comprehensive Q&A piece, this time for the lucrative yield aggregator platform that automates yield-maximizing profit switching opportunities for liquidity providers and yield farmers – Yearn Finance (YFI). Yearn Fin...

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21 Oct 2023 2 minute read 0 comments F Sharp

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YFiGlobal Finance (YFiG) Defi - Fork of Yearn Finance (YFI).

12 Nov 2020 1 minute read 0 comments FreedomBuilder

  🏦 YFiGlobal Finance is officially listed on 🔥Hotbit🔥 : https://hotbit.zendesk.com/hc/en-us/articles/360057217654 🎁 Total Reward: Receive up to 0.2 YFiG ≈ $16 & 0.02 YFiG per referral for easy social Tasks, only on Telegram & Twitter. 💎 Start Y...