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.

3D of Mining

19 Nov 2020 1 minute read 7 comments Coincobra

Start mining now FREE. Mining 3D First Dimension - SHA-256 is a critical computational hash function that uses video cards and high logical capacity computers to guarantee the security, authentication and operation of the entire Proof of Work system...

Tether x Ethereum

23 Nov 2020 1 minute read 6 comments Coincobra

  Tether                                                              EthereumMarket Cap - $18.494.336.407  USD               Market Cap - $67.354.611.688 USD Recently, some websites and experts have said that Tether will soon be overcome in market c...

YFI Rebounds After the EMN Drama

9 Oct 2020 1 minute read 0 comments Abhimanyu Krishnan Andre Cronje has stayed out of public channels, after having received death threats from community members over the incident. Cronje has not tweeted since September 29. Cronje disappeared from public channels following...

Yearn and Cream Team Up for Leveraged Lending and Yield

27 Nov 2020 1 minute read 0 comments AlucardLife

On the heels of Pickle merging with Yearn comes the excellent news of the Cream team collaborating with to create CreamV2. According to a post by Andre Cronje on the Yearn governance website, CreamV2 will allow yield earning with levera...

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

15 hours ago 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...

Big Tech and its anti-competitive domains

10 Oct 2020 2 minute read 2 comments alquimista1501

The pandemic and its effects have dealt a severe blow to people's everyday life, many unexpected changes and an adaptation that makes many uncomfortable but cannot be avoided, are the hallmark of the new normal that is defined under a uniform accepta...

2021 will be spectacular, Bitcoin will cross $100,000 - PlanB

11 Nov 2020 1 minute read 7 comments Permabull

PlanB recently said Bitcoin will tap $100,000 - $288,000 before the end of next year. Following the news around Bitcoin (microstraategy, Paypal, DBS, JPMorgan, Stanley Druckenmiller, etc) it feels like the smart money is moving to Bitcoin. Some of th...


10 Nov 2020 1 minute read 7 comments Coincobra

Cripto Civic is a wallet that has developed a system to protect and securely store your personal data and your Cryptocurrencies.In the year it was launched - 2017. It sold $ 33 million in tokens. Reaching, in the same year, approximately US $ 1 per...

Maker Governance Community Votes to Add BAL and YFI as Collateral

15 Oct 2020 1 minute read 0 comments Abhimanyu Krishnan

The Maker governance community is all set to vote on the addition of Balancer (BAL) and (YFI) as collateral for generating stablecoin DAI, according to a blog post published on October 12. The Maker team has added proposals for the add...

Watch Top 15 Highest Inflation Rate Countries between 1980 & 2019 - this is the reason why Bitcoin will always go UP

12 Nov 2020 1 minute read 5 comments Permabull

Inflation is simply additional tax on poor people who keep cash or fiat in their bank account. Countries just print a massive amounts of money to pay their bills. This increases the amount of money in circulation which means each unit of currency los...