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.


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23 Nov 2020 1 minute read 4 comments Coincobra

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Fake Ethereum Tokens Net $53,000 in Just 30 Minutes | Over 30 fake DWAP tokens have since been issued

23 Nov 2020 1 minute read 0 comments BLOCKCHAIN BRAIN

Shaurya Malwa, author from Decrypt portal in his new article says that *Scammers issued an Ethereum token to jump in on the popularity of a new product released by Yearn Finance founder Andre Cronje—which was never supposed to have one.* Topics that...

Three, must watch videos to celebrate 300 followers

23 Nov 2020 1 minute read 2 comments Permabull

Just reached 300 followers and as a thank you I would like to share another three incredible videos every single person interested in crypto should watch. Before I start I want to say I honestly appreciate every single one of you, I'm so glad somebod...

Yfi (Crypto-Pick)

22 Nov 2020 1 minute read 0 comments Goodsoul

Yfi Yearn Finance and why it is my next Crypto-Pick? Well we all saw it moon, we all saw it fall, and we all are seeing it climbing back up again. Defi has changed the world of crypto. Not a little but alot. 2020 allows you to bank from wherever yo...

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22 Nov 2020 2 minute read 0 comments Permabull

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Pondering the future of personal motivation, compensation, growth and competition in the emergent society 3.0

21 Nov 2020 6 minute read 1 comment VLK

  I’ve recently been very excited about developments in crypto and DeFi. Before now I haven’t paid that much attention to the space, but I find myself enthralled. After spending some time doing research, looking into communities, and participating in...

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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...

My brief experience with DEFI and what I think about it

20 Nov 2020 1 minute read 0 comments Cryptolohy

We are at the cusp of a huge paradigm shift, from centralization  to decentralization, this is apparent in several ways, for instance, how the job market is becoming more flexible, allowing people to work from home or even work from anywhere, and thu...

List of Non KYC Bitcoin Exchanges

20 Nov 2020 1 minute read 16 comments Permabull

Have been recently asked how to get Bitcoin without going through all the check, many exchanges do. Yeah, talking about the lovely KYC aka Know Your Customer. It is something the regulators are pushing for and some exchanges go overboard just to keep...

3D of Mining

19 Nov 2020 1 minute read 7 comments Coincobra

Start mining now FREE. Mining 3D First Dimension - SHA-256 is a critical computational hash function that uses video cards and high logical capacity computers to guarantee the security, authentication and operation of the entire Proof of Work system...