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.


Do You Know TRUST WALLET?

4 Dec 2020 1 minute read 8 comments Coincobra

Trust is Binance's official wallet but unlike Binance itself it works only as a mobile application. that is, if you want to take a look at your instances on a conventional desktop computer you won't be able to. Trust Wallet has good options for crypt...

Yearn.finance looks to the future with Sushi

4 Dec 2020 1 minute read 1 comment ManuelAR

This year has witnessed a lot of new projects in the Defi landscape. An interesting development has been the rise of aggregator services. Arguably the most successful of them all is Yearn.Finance. Yearn was born as a lending aggregator. Their platfor...

YFI Price Analysis 04 December 2020

4 Dec 2020 1 minute read 0 comments Suryakantdalai

Remember to read the date of this post carefully. In this post, you will get the live price of daily YFI. We also provide you with the YFI's market capitalization, weekly, monthly value, trading volume, peak and lowest prices and trading volume. We a...

The Yearn Finance project joins Akropolis

3 Dec 2020 1 minute read 0 comments Ott

This is DeFi leader's fourth merger in a week. Yearn Finance continues its big week with another partnership. As the project seems to make use of the title And ability to improve accessibility This time, the Decentralized Finance Project (DeFi) is pa...

3 Lucrative DeFi Projects with Low Supply & Marketcap To Watch in 2021

3 Dec 2020 5 minute read 8 comments kevW!ls0n

Do you know why crypto newcomers are more interested in XRP rather than Bitcoin? It’s because of XRP’s price. It looks visually low and many think it can go up as high as Bitcoin.  They are so wrong.  Newcomers have no idea about a token's supply. Th...

Altcoins Pumping While Bitcoin and Ether Take a Break

3 Dec 2020 1 minute read 0 comments AlucardLife

We've seen sideways movement from both bitcoin and ether in the past few days. What I've also seen is a great deal of upward movement in my smaller altcoin portfolio. This actually happened last week as well. However, last week I missed out on some o...

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

2 Dec 2020 1 minute read 2 comments 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...

Another Major Collaboration for Yearn, This Time with Akropolis

2 Dec 2020 1 minute read 2 comments Abhimanyu Krishnan

Yearn.finance (YFI) and Akropolis (AKRO) will collaborate and share development resources to bolster their respective development agendas, according to a blog post published on Nov. 30. Akropolis will gain access to Yearn, Pickle, and Cream products...

Yearn Finance and Cover Protocol Will "Work as One" Following Merger

30 Nov 2020 1 minute read 3 comments Abhimanyu Krishnan

The Yearn.Finance (YFI) and Cover Protocol (COVER) projects have announced a merger that will see the two teams' development agendas work in tandem, according to a blog post published on Nov. 28. Andre Cronje, founder of Yearn.Finance, said that the...

📈🪙YFI. DEFI 🪙📈

29 Nov 2020 1 minute read 0 comments MISSSUAREZ

Yearn.finance is an aggregator service for decentralized finance (DeFi) investors, using automation to allow them to maximize profits from yield farming. It's easy for young investors because interact in a less committal manner than serious traders....