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 10 Defi tokens 13th January

13 Jan 2021 1 minute read 0 comments Makingdigital

This January is being highlighted by the barrage of news we are receiving about many Defi and fledgling tokens that want to get attention. Just notify you of the following: If you're not into this, come in now. Do your analysis, investigate, check yo...

YFI founder Andre Cronje Lays Out DeFi Development Difficulties in Blog Post

13 Jan 2021 1 minute read 0 comments Abhimanyu Krishnan (YFI) founder Andre Cronje described the difficulties of developing in the DeFi space, listing out criticisms in a Jan. 12 blog post, and asking readers to ‘take it in context.” In the post, Cronje vents out the frustrations about deve...

The Most High-Profile DeFi Projects of 2020

12 Jan 2021 5 minute read 9 comments GetBlock

The outgoing difficult year will be remembered for the rise of the digital assets industry, the upgrade of the Ethereum blockchain project to version 2.0, and the "bull run" of decentralized finance (DeFi). By the end of the year, the Total Locked Va...

ElectroRAT: the malware that is emptying crypto wallets

12 Jan 2021 2 minute read 1 comment Roberto D.

Intezer security researchers have discovered a new remote access trojan (RAT) that aims to empty cryptocurrency wallets of Windows, Linux and macOS users. ElectroRAT, this is the name of the new threat, was only discovered in December, but has been a...

Top Things You Should Know About Harvest Finance (FARM)

11 Jan 2021 7 minute read 24 comments MuyAsk

Hey guys :) I’m back with another comprehensive Q&A piece, this time for the highly lucrative automated yield farming protocol – Harvest Finance (FARM). Harvest Finance puts users’ idle crypto assets to work in high-yielding farming opportunities tha...

Has the crypto storm arrived?

11 Jan 2021 1 minute read 0 comments rah

Those of you who follow me will have noticed that I have become as storm obsessed as a storm chaser. Well the evidence this morning when I checked prices seems to suggest that my warnings were right. Yesterday I even questioned whether I was just a d...

A Crypto Doomsayer or True Prophet?

10 Jan 2021 1 minute read 3 comments rah

I have been watching the markets today and would like to just share with you a couple of thoughts. Here are just a few highlights from Coinbase's Prices Dashboard As you know I have for the last week or two been predicting a storm. Market volatility...

Is it the best time to buy Bitcoin?

10 Jan 2021 1 minute read 3 comments Fab G

Nobody can really tell you whether or not it is the right time to buy Bitcoin, however the following indicators may help you: 1) Twitter: just look at what the trendsetters say, e.g. Alex Mashinsky, Celsius CEO, thinks that BTC will oscillate around...

Top 5 Cryptocurrency Movers for January 8, 2021

9 Jan 2021 1 minute read 0 comments JakeB

Welcome to “Top 5 Cryptocurrency Movers” where I look at all the major crypto coins on the market and choose the five that made the biggest move (either positive or negative) on this day, explaining my thoughts why the move happened, as well as the h...

YFI staking in Binance HURRY UP!

7 Jan 2021 1 minute read 1 comment Makingdigital

Binance once again gives us another opportunity to farm cryptocurrencies and quality tokens that help us make our savings profitable. There is an option that includes the platform to do Lock Staking. It is a kind of permanent freeze that we make of o...