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...

Pondering the future of personal motivation, compensation, growth and competition in the emergent society 3.0

21 Nov 2020 6 minute read 1 comment VLK

  I’ve recently been very excited about developments in crypto and DeFi. Before now I haven’t paid that much attention to the space, but I find myself enthralled. After spending some time doing research, looking into communities, and participating in...

Top 10 Bitcoin songs

30 Nov 2020 1 minute read 8 comments Permabull

Just watched a new music video of this incredible artist named Lil Bubble and realized I wanted to do an article with a few of my top Bitcoin songs. Here it is: 1. Lil Bubble - Never Ever (selling back to tether). The song is based on Never Ever Gett...

what the hell is DEFI?

7 Oct 2020 5 minute read 4 comments Dzoelx

The 2017 bull run had one word making the waves –bitcoin. Sweeping into the digital asset market; bitcoin and its system offered mouth-watering opportunities to investors including flashes of a new global system. If you lived actively on the internet...

Three, Must Watch Bitcoin Documentaries

13 Nov 2020 1 minute read 4 comments Permabull

Right, reached today 200 followers and wanted to share something incredible to celebrate the milestone. And because the weekend is quickly approaching, watching Bitcoin related videos is the best way to go.   1. Banking On Bitcoin One of my favourite...

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...

Is COMP Leading the Way in DeFi Governance?

6 Oct 2020 3 minute read 3 comments Cje95

Since the launch of DeFi governance tokens, one of the biggest critiques has been the value of the tokens. People were not caring about the interest they were earning on whatever coin they were lending they were more interested in the governance toke...

Three, must watch videos to celebrate 300 followers

23 Nov 2020 1 minute read 2 comments Permabull

Just reached 300 followers and as a thank you I would like to share another three incredible videos every single person interested in crypto should watch. Before I start I want to say I honestly appreciate every single one of you, I'm so glad somebod...

Bitcoin's dead.🤪 AGAIN! 🤣🤣🤣

25 Nov 2020 1 minute read 7 comments Permabull

Bitcoin died already hundreds of times and I just recently read about the last death. Sad story, lol. I honestly don't understand why people even bother to say something like this. Their words will age like a milk. Done a quick research and here's th...

If Bitcoin Hits $100,000, So Will This Coin

2 Dec 2020 1 minute read 1 comment AlucardLife

The mainstream is kinna educated on BTC, but they are far from knowledgeable about the wealth of opportunities in crypto. Bitcoin opened the door to all of the innovations that came after, but the innovations that came after are just as important. Th...