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.


Top Things You Should Know About Yearn Finance (YFI)

1 Sep 2020 7 minute read 8 comments MuyAsk

Hey guys :) I’m back with another comprehensive Q&A piece, this time for the lucrative yield aggregator platform that automates yield-maximizing profit switching opportunities for liquidity providers and yield farmers – Yearn Finance (YFI). Yearn Fin...

yEarn Launches yDAO Funding Vaults

1 Sep 2020 1 minute read 0 comments Abhimanyu Krishnan

On August 29, DeFi yield aggregator yEarn launched a new delegated vault for decentralized funding called yDAO.  The yDAO vaults will let users fund the vaults with YFI token, which can be utilized by applicants for a variety of needs, such as produ...

How YFI Beats BTC to Become the most Expensive Coin

1 Sep 2020 1 minute read 0 comments George Owota

Yearn.finance’s native governance token, YFI, is now the second-biggest decentralized finance (DeFi) coin in the coin market with a market capitalization of $1billion and a volume of $652,424,201 just one and a half months after its launch.YFI has b...

Is $YFV the next $YFI?

1 Sep 2020 6 minute read 3 comments Chenhuang_defi

Things are CRAZY right now. It is impossible to keep up-to-date with the latest happenings with DeFi going extremely parabolic. While the total value locked (TVL) in DeFi contracts approaches $8 BILLION, everybody seems to want to put their hands ins...

Know all YFI forks

31 Aug 2020 4 minute read 8 comments paragism

Cover Image Source YFI price crossed $38,000 today in many major exchanges. YFI started to trade on Uniswap in the month of July’20 from the price of $32. Price of YFI has really exploded since then and it is now the costliest cryptocurrency. YFI is...

This Altcoin Is Crazy! BitMex CEO: These Legendary Levels Next

30 Aug 2020 1 minute read 11 comments DHEagle

Popular altcoin Yearn Finance (YFI) has increased by over 70% in the past 24 hours to $ 37,630 per token. This is the highest price the crypto has reached and may continue to rise, according to some experts. So what prices can Yearn Finance (YFI) see...

YFI cryptocurrency: How it works and where to buy

30 Aug 2020 2 minute read 0 comments patou

YFI is the native token of the Yearn.Finance system. Yearn.Finance is a DeFi yield farming system, focused on making it easier for users to automatically farm the highest-yields possible with their cryptocurrency. Cryptocurrency YFITotal supply 30,00...

yearn.finance(YFI )will lead the next bull run! bitcoin up 2%

30 Aug 2020 1 minute read 1 comment Kavi

The season of DefI is on huge explosion. today if we read the market sentiment than we analyse the defi yearn.finance is not going to stop at 25k and will explode till reach 30k till this week . the massive bull run will push bitcoin price to new hig...

YFI beats BTC

26 Aug 2020 1 minute read 0 comments PhoenixDev

YFI is the native governance token of Yearn.finance, with Yearn.finance being a DeFi protocol launched in July 2020 by Andre Cronje. Yearn.finance is the first Ethereum protocol that claims to give token holders all the power to rule the network. As...

BIGGER THAN BITCOIN ?

26 Aug 2020 1 minute read 0 comments rajeshwarprsd

Friends, till now we knew that Bitcoin is the highest price in crypto currency. But do you know that there is a crypto currency which is worth more than bitcoin in today's date. image source: Coingecko.com Yes friends, Yearn.finance (YFI), whose pri...