Latest Posts with Yearn Finance (YFI) tag

Yearn Finance (YFI)

161 Articles 293 Followers

Yearn Finance YFI Logo

$27,657.00

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.


Polkadot X Ethereum - Giant fight

13 Nov 2020 1 minute read 2 comments Coincobra

Polkadot      Market Rank - 9 Price today (13/11/2020) - $4,45 USDMarket Cap - $3.907.171.844 USDVolume (24h) - $345.006.116 USDCirculating Supply - 877.539.162 DOTTotal Supply - 1.012.344.574 DOT Ethereum Market Rank - 2 Price today (13/11/2020) -...

Ethereum DeFi’s most enigmatic investor, “DegenSpartan” says this will be DeFi’s watershed moment

14 Nov 2020 1 minute read 0 comments BLOCKCHAIN BRAIN

Nick Chong, Analyst @ CryptoSlate published an interesting article where he said that *The pseudonymous investor, believed to be based in Asia, has become one of the most popular voices within the Ethereum and DeFi community, having entered this cryp...

Ethereum exceeded $ 500 for the first time since 2018: main catalysts for ETH growth

20 Nov 2020 1 minute read 1 comment World Crypto

For the first time since July 2018 the price of Ethereum (ETH) on Binance has reached $500. It is noteworthy that just two days ago the rate of the main altoin fell to $456, and at the beginning of the month ETH traded at $370. So, in two days Ethere...

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...

Crypto Analyst Expects Ethereum and DeFi to Go on a “Stupid Run” | Cole Petersen @ NewsBTC

15 Nov 2020 1 minute read 1 comment BLOCKCHAIN BRAIN

Cole Petersen, a cryptocurrency analyst published a very useful article @ NewsBTC portal saying that *The decentralized finance sector has posted massive gains throughout the past week, with all the “blue-chip” tokens seeing explosive momentum as bul...

yearn.finance (YFI) Is Dropped 54% And Still More Drop Ahead

30 Oct 2020 1 minute read 0 comments moon333

Hey friends, hope you are well and welcome to the new update on year.finance token. As in my previous post, I told you even I warned that the price action of YFI token can be crashed up to 90% more. And so far it has dropped more than 44% in the USD...

REPORT: A Whale Just Moved $14m Worth of Yearn.finance (YFI) to an Exchange | NewsBTC

10 Nov 2020 1 minute read 1 comment BLOCKCHAIN BRAIN

Cole Petersen, an author on NewsBTC published an interesting article a few moments ago where he said that *Yearn.finance’s YFI token is surprisingly resilient today despite the turbulence throughout the aggregated crypto market. While Bitcoin is plun...

Decentralized Horror: Roundup of the Year’s DeFi Nightmares

31 Oct 2020 8 minute read 14 comments pheonixdown-dee

Decentralized finance (DeFi) has no doubt been the driver of momentum for all things crypto this year, but it has not been without its share of horror stories. To mark Halloween, we will be digging into the DeFi nightmares, flash loan frights, smart...

yEarn Update - Grants, Andre's Involvement and New Strategies!

29 Oct 2020 2 minute read 2 comments GabrielHaines

yEarn continues to be one of the top communities in the DeFi space, and we want to check in to see what they’re up to. GRANTS September Grant recipients can be found here and in the interest of full disclosure, I got 1,000 yUSD from yEarn for educati...

Is this Crypto Apocalypse?

26 Nov 2020 1 minute read 8 comments BLOCKCHAIN BRAIN

Everything on the market is down. It's like a big explosion happened in the base. 20% and it's falling, only stable coins are still stable. I mean, I just wake up and saw this horror scene. I don't know what's happening but it's very strange because...