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.

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...

Harvest Finance is Set to Make a Great Comeback

11 Nov 2020 3 minute read 3 comments paulOf91

Hey, hey, hey, hey… how are my fellow DeFi Degens doing today? It’s Chad here, and today I have something incredibly important to share with you all.  So grab a beer and get comfortable. I’m about to make your day. Harvest Finance is set to make a hu...

Three videos, everyone in Crypto world have to watch

29 Oct 2020 1 minute read 0 comments Permabull

Just reached 100 followers and as a thank you I would like to share three incredible videos every single person interested in crypto should watch at least once.   1. The Trust Machine My favourite and possibly the first Bitcoin documentary I have eve...

Video Resources for Bitcoin Beginners

16 Nov 2020 2 minute read 2 comments Permabull

Yesterday was the DAY! The day I broke my boomer dad and finally OrangePilled him completely. It wasn't easy road at all. I've tried a few times with not much of success in the past. Except, getting him to sign up to Coinbase and earn some extra coin...

This Binance-Sponsored DeFi Coin Has Surged 600% in the Past Week | ALPHA Finance x NewsBTC

16 Nov 2020 1 minute read 0 comments BLOCKCHAIN BRAIN

Nick Chong, author from the NewsBTC portal said that: ALPHA is the native token of Alpha Finance Lab, supported by Binance Launchpad and investors such as Spartan Group and Multicoin Capital. The project is focused on building out an ecosystem of cro...

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🔥 : 🎁 Total Reward: Receive up to 0.2 YFiG ≈ $16 & 0.02 YFiG per referral for easy social Tasks, only on Telegram & Twitter. 💎 Start YFiGlo...

Colombia update - 266 Bitcoins traded last week - Hint: Bitcoin at ATH in Colombia now!

12 Nov 2020 1 minute read 0 comments Permabull

Checking last week's statistics, 266 BTC were traded in Colombia on LocalBitcoins. The number is a bit up from 257 BTC traded a week before. Although, the volume is slowly slipping down from 760 BTC per week in February 2019. 266 BTC is about 13,000...

How to build a mining rig to mine crypto [GUIDE]

12 Nov 2020 8 minute read 5 comments Roberto D.

We are in a "particular" historical moment: of global crisis, pandemic and in a generally unstable political and social environment, cryptocurrencies have shown considerable solidity. Furthermore, the pandemic-induced economic recession has actually...

DeFi Protocol Yearn.Finance Launches New Vault Aimed At Improving Liquidity

10 Nov 2020 1 minute read 2 comments CryptoBrowser

The New “Backscratcher” Vault Locks CRV Tokens For Four Years Despite the DeFi sector hitting another all-time high in terms of total value locked (TVL), not all projects receive equal attention and inflow of collateral.  According to data from DeFi...

Keep3r Stealing YFI Thunder?

10 Nov 2020 3 minute read 1 comment AlucardLife (YFI) set off the current wave of defi with a unique attribute of automated yield farming. YFI was the first coin to achieve mainstream attention for being worth more per coin than bitcoin (there were others, but they didn't have the im...