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.

The Cover Protocol Exploit (An Open Letter to Andre Cronje)

29 Dec 2020 2 minute read 0 comments benn0xake

The Cover Protocol, which served as insurance for the ecosystem, was exploited to mint a practically infinite number of Cover tokens. The exploit tanked the price of Cover, and this price dump is leaking over into the rest of the Yearn...

Why A Successful ICO Still Needs Promotion

28 Dec 2020 2 minute read 0 comments mummyrio

There are thousands coins in the market but only some of them are worthy. On the other hand, some good coins seems to die because the coin loose the community. A supporting community is very important for a coin. A group of developers, traders, holde...

YFI Will Hit $100,000 Before Bitcoin

25 Dec 2020 1 minute read 15 comments benn0xake

I'll make you a bet that (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...

Top Things You Should Know About SushiSwap (SUSHI)

18 Dec 2020 9 minute read 9 comments MuyAsk

Hey guys :) I’m back with another comprehensive Q&A piece, this time for the popular decentralized on-chain token swap protocol – SushiSwap (SUSHI). SushiSwap is a DEX protocol that enables users to seamlessly swap tokens for one another and provide...

Yearn.Finance Acquisition Spree & What That Means for YFI Holders

16 Dec 2020 1 minute read 4 comments Brawnd0

Yearn Finance (YFI) – the simple yield aggregator network that automatically rebalances DeFi yield-farmer portfolios between lending protocols to earn users’ the highest yield – has been expanding its tentacles across the entire DeFi market. What I m...

Beware! (YFI) Is Going To Re-Test Previous Support At $20K

12 Dec 2020 1 minute read 0 comments moon333

  Hi friends, hope you are well and welcome to the new update on YFI token.   Priceline moving in Fibonacci projection zone: After taking bullish divergence from the potential reversal zone of bullish Butterfly, the priceline is still moving within...

Facebook Crypto DIEM VS Tether

11 Dec 2020 1 minute read 7 comments Coincobra

Currently, stablecoin Tether is the fourth most traded cryptocurrency in the world calling attention to its performance. To give you an idea even the american government to use to carry out financial transactions. This is due to the fact that the USD...

DeFi Indexes for Chads

10 Dec 2020 2 minute read 1 comment PowerLul

It's been a long time since I've written something, but the recent YETI launch by the PowerPool made me write this one. I've been closely monitoring Telegram and Discord and was blown away by the number of people wanting to buy YETI or asking is it a...

Yearn Ecosystem Launches A New Token Index

10 Dec 2020 1 minute read 0 comments CryptoBrowser

YETI Enables Investors To Get An Index For Broader Coverage On The Yearn.Finance Ecosystem Tokens PowerPool, a meta-governance protocol and a partner of the Yearn ecosystem, announced the launch of a new index, tracking the prices of the tokens insi...

DeFi tokens to pump again

7 Dec 2020 1 minute read 0 comments Cryptofab

According to Dune analytics report, DeFi users have reached 1 million, i.e. ten times the number of users of last year... And still almost nothing compared to the worldwide potential. DeFi tokens like YFI, YFII, SNX are going to pump significantly fr...