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 Proposes Tokenomics Changes, YFI Rallies

26 Dec 2021 1 minute read 0 comments FX Empire

YFI is one of the best-performing coins in the market at the moment, with the proposed tokenomics changes serving as a catalyst for the rally. The broader cryptocurrency market is slowly recovering from the bearish trend that has affecte...

The Next Big Cryptocurrency: 7 Altcoins Set to Explode in 2022

22 Nov 2021 5 minute read 5 comments Mike Ermolaev

Not many predicted the events of the past 2 years. In 2021, Bitcoin had a massive surge. Its price has reached an all-time high (ATH) of $68,521 in November. Crypto market capitalization now stands at $2.91 trillion. In the meantime, the DeFi market...

New European Facing Farm Getting Ready to Launch on Harvest Finance

13 Oct 2021 1 minute read 0 comments Cje95

While it has not yet launched as seen by the $0.0 in the deposits section it appears to be gearing up for a launch. The pool is courtesy of Curve Finance and is a liquidity pool that requires the deposit of both ibEUR and sEUR. Since it is a Curve Fi...

What Is Yearn Finance YFI Crypto?

4 Oct 2021 3 minute read 8 comments StealthEX

Yearn Finance is a protocol that allows DeFi to be used for various purposes, including lending, earning interest and trading. Immediately after its launch, the project caused a stir, and now the amount of money invested in the token is growing at an...

Automated Yield Farming With Yearn.finance

23 Aug 2021 2 minute read 1 comment 2sats

*obligatory not financial advice*   What is Yearn.finance? Decentralized finance, short DeFi, offers many different ways to earn interest on various different cryptocurrencies. There are many different lending protocols and liquidity pools that all o...

4th August - Yearn News

4 Aug 2021 1 minute read 0 comments glennherriott

4th August Hello and welcome!  This newsletter is going to be all about Yearn Finance, a protocol that enables ethereum users to get a rate of return on their cryptocurrency. Ecosystem News 31k users so far on Yearn, over 200k on Sushi Andre Cro...

Yearn.finance drops free NFT for loyal users - are you one of them?

30 Jul 2021 1 minute read 2 comments CryptoTjark

Have you used Yearn.finance in the last year? Then you might be eligible for one or even more of their birthday presents to the community.   A Thank You to the Community They have collaborated up with @ZemmNFT to release a series of 7 unique NFT. Whi...

What Is Yearn.Finance and How to Buy YFI?

9 Jul 2021 4 minute read 0 comments SwapSpace

What Is YFI Token? Yearn.Finance is a decentralized finance (DeFi) yield farming project with the goal of making it easier for users to obtain the highest possible yields with their crypto-assets. The project automatically distributes users’ assets i...

DeFi Portfolio Update 3Q2021

3 Jul 2021 4 minute read 3 comments Pinotio.com

Summary: Holdings are now HNT, CELO, AAVE, UNI, CRV, MKR, FLX, YFI - on a roughly even split. I sold all FARM that I had been holding for six months, and instead took a position in Yearn Finance (YFI). I'm earning HNT from a hotspot I have and t...

Alts to watch! 6/14

14 Jun 2021 1 minute read 3 comments F Sharp

  So I keep coins on my emergency watch list I call & hold, from that list. Also, keep in mind this is also for short term trading in some circumstances waiting to sell at a higher price maybe more profitable.   Coins with momentum to watch!!! Take s...