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.


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...

🔥A Mixture of DeFi, Insurance and NFT Mining?

6 Oct 2020 1 minute read 4 comments Dapp.com

  You might have seen a lot of DeFi NFT projects these days and learnt some new ways to play with and earn from NFTs. Today we’re going to introduce you to what happens when NFT meets DeFi and insurance.     Buy DeFi Insurance, Get NFTs   yInsure, a...

Digital Money, Fiat, Cryptos and more

5 Oct 2020 2 minute read 0 comments alquimista1501

We are moving fast in digital currency. Digital money, cryptocurrencies, altcoins, stablecoins, are terms that we must begin to learn if we want to start playing with these new forms of payment that will soon dominate the financial interaction of all...

Yearn Finance (YFI) a diamond in the rough

4 Oct 2020 1 minute read 0 comments Superstar

I spoke about Yearn before, and since then it continues to decrease.  I just spoke to some friends and they are telling me to change investments.  Crowd mentality is always wrong, I am dumping more into Yearn.  Why do you ask?  Well lets take a look...

Still Short Yearn.Finance (YFI)

4 Oct 2020 1 minute read 3 comments doyouminecrypto

Hello!   Closed 25% of my YFI short position.     It would have been nice to see some divergence with the RSI and since it is not I am waiting till $15374 to close another 25%I will then determine further action. I still see $12000 as a strong possi...

Tokenization, and how's this going ???

3 Oct 2020 1 minute read 2 comments alquimista1501

This topic has been little developed and not touched in depth. I think that more should be invested in expanding the tokenization process that shows the competitive advantage of cryptocurrencies and how their use is an important point in the change t...

Opening A YFI Short Position

3 Oct 2020 1 minute read 0 comments doyouminecrypto

Hello!   Well it doesn't look too good for YFI currently.     The head and shoulder pattern has completed and it looks like it will take the price down for the next couple of weeks. $16,600 is the first support I'm looking at. That head and shoulder...

Trump and BitMex news stun Bitcoin's value (and the other crypto).

2 Oct 2020 1 minute read 0 comments PrisonedBus9641

Donald Trump's positivity to Covid-19 has had a great influence on the stock market and on cryptocurrencies in the last few hours, like any self-respecting political action (wanted and unwanted). The shock of the news has greatly damaged the stabilit...

One Way Out For YFI

1 Oct 2020 1 minute read 2 comments doyouminecrypto

  Hello!   I have mapped a way out for YFI head and shoulders pattern!         Make sure to check out my past posts linked at the bottom. If YFI can hold these levels, and does not break the neckline, then we could see some upward momentum.   I have...

DeFi Community in Tears After Rushing Into Unaudited $EMN Contract

29 Sep 2020 1 minute read 8 comments Abhimanyu Krishnan

DeFi enthusiasts on the lookout for the next hidden gem have been left burnt after investors of Eminence Finance (EMN token) have lost funds as a result of the protocol’s unaudited contracts. The EMN protocol was subject to a flash loan exploit whic...