Yearn Finance (YFI)

238 Articles 481 Followers

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 Explained

24 Mar 2021 4 minute read 2 comments Heath Muchena

In the first few months of 2020, as wildfires raged in Australia and a coronavirus made its way out of China, a South African developer and DeFi architect by the name Andre Cronje(creator of the Eminence project, and the recently launched KP3R token...

What is (YFI)?

22 Mar 2021 1 minute read 0 comments nervi

DeFi is a sector that has seen gigantic growth in recent months. The gains provided by financial protocols have been overwhelming. Tokens that manage such projects are a key step in the decentralisation and security of DeFi. For this reason,

Three coins which could pump

6 Mar 2021 1 minute read 5 comments Cryptofab

As every weekend, the trend is quite uncertain. Professional traders are at home, we are between us guys... So we'd better think before investing, because next week will be another week, with new winnners and losers. Let's look first at the winners o...

The Case for Harvest Finance

3 Mar 2021 2 minute read 5 comments samsamg

Harvest Finance What: A yield farming aggregator that automatically selects the best yield pools to farm. Similar to a quant hedge fund. Why: Absolute valuation @ P / CF ~3.3x (at price = $215) is cheap. Also good relative valuation vs. Yearn Finance...

Harvest Finance Evolution: iFARM every month

28 Feb 2021 2 minute read 21 comments PVM

Harvest radio news special - "The voice of the fields" Every humble farmer knows that the fields must be prepared for the spring. This can be done after the snow blanket starts to melt. This preparation started with a logo rebranding, and the light b...

How Harvest.Finance Delivers Profits For Its Users

22 Feb 2021 5 minute read 6 comments Adamic0

Harvest has become the largest DeFi aggregator with $720M+ in total value locked (TVL), far surpassing Yearn – the pioneer of yield-aggregator platforms. Harvest launched in just September 2020 and is aggressively adding new strategies (nearly 50 now...

Combining Two Crypto Strategies to Leverage 10%+

22 Feb 2021 1 minute read 4 comments rah

Everyone who knows me knows that I am poised for the bubble to burst or in crypto-speak for the next major correction. Over the last few weeks since moving a significant amount of my holdings to StableCoin I have done very little except just add in m...

5 DeFi Projects That Successfully Came Back From Exploits/Hacks

21 Feb 2021 2 minute read 4 comments 0xJonnyDee

The DeFi community is once again questioning the “test in prod” approach after an exploit left Alpha Finance Labs and CREAM Finance $37.5 million short. Because of this, I decided to looks at five DeFi projects that successfully came back after being...

ADA, YFI, XMR – Technical Analysis for February 17th

17 Feb 2021 2 minute read 6 comments 0xJonnyDee

The Yearn.Finance (YFI) price has bounced at a crucial support area and is on its way towards a new all-time high price. Both Cardano (ADA) and Monero (XMR) are facing crucial long-term resistance levels. The price action for the latter seems mor...

DeFi Strategy #1 - Compound, Yearn, Harvest

16 Feb 2021 2 minute read 2 comments Suspect78

  I’ve been researching DeFi strategies that I’d like to take advantage of once gas prices come down. I figured I could write them up and share here for the benefit of others and potentially for some critique. Please keep in mind that all APY percent...