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.


Yearn Finance Comic - Part 3

24 Apr 2022 3 minute read 0 comments xuanling11

What is the difference between APR, APY, and ROI? How does that work in Yearn Finance?   Let’s explore. Table of Content APR vs. APY ROI APR vs. APY vs. ROI In Conclusion   APR vs. APY      APR is a profit associated with costs. It is a lending ter...

Yearn Finance Comic - Part 2

22 Apr 2022 3 minute read 0 comments xuanling11

What is the Yearn vault? How is that different from the bank vault?   Let’s explore.     Table of Content Bank Vault Yearn Vault yVault In Conclusion   Bank Vault      A vault is a secure place to store valuable goods. Vault is particularly strong...

Yearn Finance Comic - Part 1

22 Apr 2022 3 minute read 2 comments xuanling11

You probably heard about Yearn Finance, but what is actually Yearn Finance trying to accomplish?   Let’s explore. Table of Content Yield Aggregators Protocol Banks Interest Earnings Why Yearn Finance In Conclusion   Yield Aggregators Protocol  Year...

Reinventing Organisations - Notes and Yearn Food for Thought

23 Mar 2022 16 minute read 0 comments glennherriott

I thought i'd go through the book and write notes, including how the books material applies to Yearn, to help encourage conversation as we do the book review and to help those without the time to red. How can Yearn act with a sense of radical abundan...

Innovating for the future of Yearn

21 Mar 2022 1 minute read 0 comments glennherriott

Lets say we've got unlimited financial resources and we've got time on our hand - what would we do? Obviously we'd go on more chains and do more vaults/strategies. But what else could we do? The blue pill directs us to look at our inner voice and thi...

Crypto Comics - What is Yearn Finance

9 Mar 2022 3 minute read 0 comments xuanling11

I tried to explain what Yearn Finance is in comic strips.   TL;DR I explained what Yearn Finance is. Some Takeaway Yearn Finance is a suite of products in Decentralized Finance (DeFi). It provides a range of tools through yield generation, lending a...

The Defi Era of Spineless Drifters Like Andre Cronje is Over

6 Mar 2022 3 minute read 2 comments benn0xake

The experimentation era of defi is officially over. With the completely shit exit of the child Andre Cronje and his cronies from the defi space come April, I am officially learning my own lesson about trusting personalities in this space. I say it al...

My First Impressions of being a contributor at Yearn

25 Feb 2022 2 minute read 5 comments Kishd

Why I joined a DAO and what I’ve learned so far. The Rise of DAO CultureThe Rise of DAO Culture synthesizes group culture and decision-making with cooperative leadership while working to avoid the dangers that occur in typical corporate settings. I r...

Working for Yearn (4 months in)

22 Feb 2022 2 minute read 0 comments glennherriott

It's almost been 4 months that i've been (officially) working at Yearn. It's been fun and chilled. I have some health concerns so I love the flexibility of choosing my hours and taking breaks when it suits me. I've met a number of cool people too, wh...

Getting started with DeFi - Part -2

4 Jan 2022 2 minute read 0 comments Saikartix

This is the second part of the DeFi series, if you haven't checked part 1, here's the link Getting started with DeFi Part 1. AAVE: Aave (which means ghost in Finnish),was founded in 2017, by Stani Kulechov to create a decentralized peer-to-peer or p...