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.


FARMers losing sight of selling shovels

13 Feb 2021 7 minute read 4 comments Pinotio.com

This post is kept up to date here. Summary: We are in the growth stage of DeFi where new protocols are showering participants, and themselves, with governance tokens. Rewards from one protocol are re-invested in another protocol to earn more rewards...

Can LINK hit $100?

12 Feb 2021 1 minute read 2 comments Cryptofab

One year ago, when LINK was just below $4, I was hesitating to buy it, so I looked at the comments posted on forums and discovered that many people thought it was an overpriced "shitcoin" which was supposed to dump soon. As I thought it had a value d...

Grayscale Is Adding These Coins Next and They're All Shooting Up Right Now.

12 Feb 2021 1 minute read 0 comments busyjordy

CRYPTO CORNER EPISODE 149 In this episode: ►The new coins to be added to Grayscale Trust►Twitter might be the next Corporation to invest in Bitcoin►Paypal to open crypto to UK customers►Amazon to enter Crypto►India Bans Crypto►Lindsay Lohan shilling...

DailyCryptonews by cryptoborges - 09/02/2021

9 Feb 2021 1 minute read 0 comments Francisco Borges

Hi huys hope you enjoy your daily dose of crypto news. Bitcoin Miner Riot Blockchain Names Jason Les CEO Nasdaq-listed mining company Riot Blockchain (RIOT) has named Jason Les as its new CEO after serving as as independent director on Riot’s board...

E&S: YFI, DeFi made simple

7 Feb 2021 2 minute read 13 comments MikeZillo

Hello Publish0x community and welcome back in my Sunday article dedicated to the “Easy and Short. Cryptocurriencies made accessible” section. Have you missed the introductive article of Yearn Finance? Don’t worry you can recover it here. Today I want...

How I Turned $1000 into $2400 in 37 Days Using Coinseed (February 7, 2021 Update)

7 Feb 2021 5 minute read 6 comments bettercallpaul

How I Turned $1000 into $2400 in 37 Days Using the Coinseed Crypto Investing App by  W. Paul Alexander for Better Call Paul Hello Everyone!  This is an update on the value of the investments I made with $1000 of the last stimulus check round (the...

Pickle Finance - DeFi with a Cucumber Flavour

6 Feb 2021 1 minute read 0 comments Arkemmus

When DeFi meets meme culture.      Pickle Finance is an amazing DeFi project which combines stunning features with a strong sense of humour.    Among its best features, we can mention:   Pickle Jars, that allows users to deposit tokens from liquidit...

Don't Put Your Money in DAI Pools

5 Feb 2021 1 minute read 5 comments benn0xake

Yearn.finance got hacked for over $2 million, and again, it was the DAI vault that got exploited. I'm not a tech guy (yet! soon! few!!), but I do know a pattern when I see one. The past few hacks that have occurred within defi and the Yearn ecosystem...

$YFI: How to Bake Money

3 Feb 2021 1 minute read 0 comments Jelly Fish

Recently in a Telegram group, I've got a note that "YIP-57 has passed" or similar. I don't know why I went to dig what that could mean. But I've found some rather interesting things. "YIP-57" was voting held at Yearn Finance on a proposal "to fund Ye...

YFI Governance Community Vote to Mint 6,666 Tokens Passes

3 Feb 2021 1 minute read 10 comments Abhimanyu Krishnan

On Feb. 3, the Yearn.finance (YFI) governance community passed a proposal to mint 6,666 YFI tokens, a 22% increase in the token’s total supply.  The decision to add more YFI tokens first saw discussion on Jan. 21, with the change receiving near unan...