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.


Communicational Opening of Liquidity Providers

28 Oct 2020 1 minute read 3 comments alquimista1501

Liquidity attracts more liquidity. Basically this is the main concept that is derived from the work of returns. Yield Farming has some interesting numbers associated with it that make it a very attractive operation for level investors. Expectations w...

Ethereum in an Extensive Economic Growth | Ethereum transacts two times more value than Bitcoin daily

24 Oct 2020 1 minute read 1 comment Behiver

Many would say to invest in Bitcoin, that it is the GOLD of Cryptocurrencies, but I would say to invest in Ethereum. It is my cryptocurrency of choice due to its innovation and drive of the financial world. And the third quarter economics from 2020 c...

DFI.Money (YFII) Again Rejected By Strong Resistance | Was It A Bull Trap ???

24 Oct 2020 2 minute read 1 comment moon333

Hey friends, hope you are well and welcome to the new update on the YFII token. In this video you will watch how:   Previously the price action broke down the support of the pennant on the daily chart. But in the very next candlestick, we can observ...

Yearn.finance (YFI) Could Surge 20%+ as Technical Outlook Strengthens | NewsBTC

26 Oct 2020 1 minute read 5 comments BLOCKCHAIN BRAIN

He//o World... Welcome to Blockchain Announcements! Cole Petersen, one of serious cryptocurrency analyst, a few hours ago shared with us two minutes long article on the NewsBTC portal where he says this: Yearn.finance’s YFI governance token has foun...

DeFi Unlocked: How to Earn Crypto Investment Income on yearn.finance.

23 Oct 2020 6 minute read 0 comments Rollerkid

  As the decentralized finance (DeFi) landscape continues to grow, capital inflows are on the rise, suggesting that - despite some bubble attributes - DeFi might remain a part of the digital asset markets in the years to come. In our DeFi Unlocked s...

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...

Try to Understand and not be DeFinformed

20 Oct 2020 1 minute read 1 comment alquimista1501

The DeFi have not had a good performance lately and their constant loss has made them forget a bit of that stimulus that was attached to them as a way to unchain that dependence that we have on Bitcoin. Currently the DeFi have had a correction of mor...

5 Easy Steps To Becoming A Skilled Bitcoin Trader

21 hours ago 2 minute read 0 comments Rollerkid

  Covid-19 not only leaves infected patients with debilities but also brings on a deep recession to the world. Locked down and lay-off are the wake-up calls that tell us having more than one source of income is always better. Among a wide range o...

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...

Maker Governance Community Votes to Add BAL and YFI as Collateral

15 Oct 2020 1 minute read 0 comments Abhimanyu Krishnan

The Maker governance community is all set to vote on the addition of Balancer (BAL) and yearn.finance (YFI) as collateral for generating stablecoin DAI, according to a blog post published on October 12. The Maker team has added proposals for the add...