Latest Posts with Yearn Finance (YFI) tag

Yearn Finance (YFI)

92 Articles 137 Followers

Yearn Finance YFI Logo
yfi
usd

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.


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...

🔥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...

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...

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...

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...

what the hell is DEFI?

7 Oct 2020 5 minute read 4 comments Dzoelx

The 2017 bull run had one word making the waves –bitcoin. Sweeping into the digital asset market; bitcoin and its system offered mouth-watering opportunities to investors including flashes of a new global system. If you lived actively on the internet...

Is COMP Leading the Way in DeFi Governance?

6 Oct 2020 3 minute read 2 comments Cje95

Since the launch of DeFi governance tokens, one of the biggest critiques has been the value of the tokens. People were not caring about the interest they were earning on whatever coin they were lending they were more interested in the governance toke...

Is DFI.Money (YFII) Is Going To $1 ??? | Warning !!! YFII Has Broken Down All Supports

8 Oct 2020 1 minute read 4 comments moon333

Hey, friends hope you are well and welcome the new update on DFI.Money token. In this video you will watch how:  On a small time period, 4-hour chart the priceline of the YFII token was moving in a descending triangle and finally broke down the supp...

YFI Rebounds After the EMN Drama

9 Oct 2020 1 minute read 0 comments Abhimanyu Krishnan

Yearn.finance Andre Cronje has stayed out of public channels, after having received death threats from community members over the Eminence.finance incident. Cronje has not tweeted since September 29. Cronje disappeared from public channels following...

Big Tech and its anti-competitive domains

10 Oct 2020 2 minute read 2 comments alquimista1501

The pandemic and its effects have dealt a severe blow to people's everyday life, many unexpected changes and an adaptation that makes many uncomfortable but cannot be avoided, are the hallmark of the new normal that is defined under a uniform accepta...