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.


How YFV Pulled $150M From Balancer in 24 Hours (Full Story)

12 Oct 2020 5 minute read 2 comments Adamic0

If you clicked on this piece, it probably means that you are familiar with Balancer - an Automated Market Market (AMM), which is the second biggest in the industry after Uniswap or YFV - a tweaked version of YFI.  Now, let me tell you something quite...

How to build a mining rig to mine crypto [GUIDE]

12 Nov 2020 8 minute read 5 comments Roberto D.

We are in a "particular" historical moment: of global crisis, pandemic and in a generally unstable political and social environment, cryptocurrencies have shown considerable solidity. Furthermore, the pandemic-induced economic recession has actually...

What is Wrapped Bitcoin?

5 Nov 2020 1 minute read 0 comments Coincobra

Wrapped Bitcoin is Ethereum's Bitcoin. In fact wBTC is the largest tokenized ERC-20 asset that is currently traded on the Ethereum blockchain. Therefore, it is the version of the BTC in Ethereum in the DeFi ecosystem. This Token is already listed on...

Gas Price: how to spend less on Ethereum transactions

13 Oct 2020 3 minute read 29 comments Roberto D.

The price of Ethereum is closely linked to the cost of transactions. Starting from the price of ether, understanding where transaction costs come from and how to save becomes essential, not only to carry out low-cost transactions but also to understa...

Crypto Analyst Expects Ethereum and DeFi to Go on a “Stupid Run” | Cole Petersen @ NewsBTC

15 Nov 2020 1 minute read 1 comment BLOCKCHAIN BRAIN

Cole Petersen, a cryptocurrency analyst published a very useful article @ NewsBTC portal saying that *The decentralized finance sector has posted massive gains throughout the past week, with all the “blue-chip” tokens seeing explosive momentum as bul...

How much could you earn by investing $ 100 in DeFi projects?

11 Nov 2020 2 minute read 2 comments Crypto Worker

By purchasing altcoins from the sphere of decentralized finance for a small amount at different times, it was possible to multiply capital. But also be left with nothing. The DeFi sphere has become popular in 2020. DeFi is about apps, exchanges, lend...

Earn YFI With Yearn Finance

19 Oct 2020 4 minute read 1 comment Guarda Wallet

This text is written for information purposes only and never constitutes a call to action. All financial transactions carried out by you are made at your own risk. The Guarda editorial staff reminds you of the riskiness of all kinds of speculation o...

5 Most Important DeFi Breakthroughs of Q3 2020

17 Sep 2020 8 minute read 9 comments yourmitchy

DeFi continues to grow at an unprecedented pace, and its very difficult to keep up with the crucial breakthroughs occurring. As a result, I wanted to weed out the most important breakthroughs that we have witnessed in Q3 that are bound to take the en...

My First 30 Days in DeFi - Compound, Yearn & Uniswap Results

1 Nov 2020 4 minute read 11 comments Bryan Divisions

A little over a month ago I decided it was time to get my feet wet in the DeFi world, so I took a few steps to deposit crypto on a few of the bigger DeFi platforms. Today I'll be sharing my results and feedback after a full 30 days using Compound, Y...

Colombia update - 266 Bitcoins traded last week - Hint: Bitcoin at ATH in Colombia now!

12 Nov 2020 1 minute read 0 comments Permabull

Checking last week's statistics, 266 BTC were traded in Colombia on LocalBitcoins. The number is a bit up from 257 BTC traded a week before. Although, the volume is slowly slipping down from 760 BTC per week in February 2019. 266 BTC is about 13,000...