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.


Top Things You Should Know About Harvest Finance (FARM)

11 Jan 2021 7 minute read 28 comments MuyAsk

Hey guys :) I’m back with another comprehensive Q&A piece, this time for the highly lucrative automated yield farming protocol – Harvest Finance (FARM). Harvest Finance puts users’ idle crypto assets to work in high-yielding farming opportunities tha...

What DeFi Projects offer the Top Staking Rewards in 2021

30 Dec 2020 3 minute read 12 comments Crypto Adventure

The DeFi sector provides investors with exciting opportunities that were previously not possible. Every week, new products, features, and networks enter the market. Each platform promises better returns and a more comprehensive UX. However, not every...

YFI Will Hit $100,000 Before Bitcoin

25 Dec 2020 1 minute read 15 comments AlucardLife

I'll make you a bet that Yearn.finance (YFI) hits $100k before BTC. First of all, if "mainstream finance" is just now catching on to bitcoin, they haven't even begun to dream of what YFI brings to the table. When they do, it will be too late to co-op...

EPISODE 12: ZIL and YFI

1 Jan 2021 15 minute read 7 comments SirGerardThe1st

This article was posted at 0000, Buenos Aires time, January 1st, 2021, Happy New Year to all of you Publish0x guys, thanks for everything you gave me! I would not want you to lose sight of the fact that the objective of this blog is to analyze the...

The Most High-Profile DeFi Projects of 2020

12 Jan 2021 5 minute read 9 comments GetBlock

The outgoing difficult year will be remembered for the rise of the digital assets industry, the upgrade of the Ethereum blockchain project to version 2.0, and the "bull run" of decentralized finance (DeFi). By the end of the year, the Total Locked Va...

yearn.finance (YFI) | This Bullish Reversal Move Can Be Another Buy The Dip Opportunity

6 Jan 2021 1 minute read 1 comment moon333

   Hi friends hope you are well and welcome to the new update on the YFI token.       Rejection by 30K resistance level:   Previously we have seen that the price line of YFI was rejected by the 30K resistance and it was moving towards the support of...

Ytoken's, a retrospective look at this initiative

31 Dec 2020 2 minute read 1 comment alquimista1501

Of many DeFi's initiatives, the Year.Finance (YFI) token is the one that most catches my attention, not because of its value, as it has been one of the few that has surpassed, for a moment, Bitcoin (BTC) as a value of most expensive unit, even exceed...

ElectroRAT: the malware that is emptying crypto wallets

12 Jan 2021 2 minute read 1 comment Roberto D.

Intezer security researchers have discovered a new remote access trojan (RAT) that aims to empty cryptocurrency wallets of Windows, Linux and macOS users. ElectroRAT, this is the name of the new threat, was only discovered in December, but has been a...

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...

A Crypto Doomsayer or True Prophet?

10 Jan 2021 1 minute read 3 comments rah

I have been watching the markets today and would like to just share with you a couple of thoughts. Here are just a few highlights from Coinbase's Prices Dashboard As you know I have for the last week or two been predicting a storm. Market volatility...