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.


$YFI Follows $FARM, About to Introduce Buyback Mechanism  

3 Feb 2021 4 minute read 8 comments paulOf91

Hey, hey, hey… how are my fellow DeFi degens doing today? I’m back with another piece on my favorite automated yield farming protocol, Harvest Finance (FARM), and oh boy is it a good one.  You’re not going to want to miss it.  If you’ve been followin...

Yield Farming Title Fight: Harvest Finance vs. YFI

2 Feb 2021 6 minute read 3 comments DrBreakThru

There’s no doubt that yield farming is one of the hottest use cases for DeFi as it enables users to earn a passive income by putting their idle cryptoassets to work in high-yielding farming opportunities.  As such, a myriad of automated yield-farming...

E&S Token Review: Yearn Finance (YFI)

31 Jan 2021 2 minute read 8 comments MikeZillo

Hello everybody and welcome back in this new article of my “Easy & Short Cryptocurrencies Made Accessible” area. Today we are going to see Yearn Finance. Yearn Finance is a suite of products in Decentralized Finance (DeFi) that provides lending aggre...

SushiSwap Gains Ground on Uniswap Following Yearn Merger

29 Jan 2021 1 minute read 1 comment Abhimanyu Krishnan

Following its merger with yearn.finance (YFI) in Jan. 2021, the SushiSwap (SUSHI) DEX has captured a chunk of market share from Uniswap (UNI), according to a report from Messari published on Jan. 29. The data from Messari shows that the exchanged ha...

Another Important Concern In The Crypto Market.

27 Jan 2021 2 minute read 13 comments Godsplan

  Hello fellow members of publish0x and everyone else reading this article, l realized another Important update about the crypto world today and I would like to brief all of us through. The great update is here: the wonderful SIGNAL MESSAGING APP now...

$DIGG — The 1st $100,000 Coin in Crypto?

25 Jan 2021 1 minute read 1 comment benn0xake

Yearn.Finance made history as the first legitimate altcoin to surpass bitcoin in value. It needed an ultra low count to do so (30,000 max vs. 21 million), but it did achieve this. Now $DIGG, the rebase token from the Badger project, is knocking on th...

Will Bitcoin crash?

24 Jan 2021 1 minute read 5 comments Cryptofab

Bitcoin dominance is currently decreasing towards 60% and could even go lower according to the daily candles as shown on the graph below. Bitcoin has increased so much recently that it has attracted newbies, urging the whales to swap their BTC for ET...

$30k to $1 million passively challenge: Update 1

24 Jan 2021 3 minute read 4 comments MadMaxx

Hi everyone. Welcome to another article. First off, allow me to thank you all for the wonderful reception you gave the introductory post! Over 4k views and counting. Amazing! If you haven't read that post, then this one won't make much sense. So chec...

Bitcoin less risky than Tesla?

22 Jan 2021 1 minute read 2 comments Cryptofab

That's the conclusion of a recent survey: 56% of 627 respondents surveyed by Deutsche Bank last week claimed that BTC price more likely to halve in a year, and 25% said it's more likely to double, according to a report by Marketwatch. Meanwhile, 62%...

Should you buy cryptos before the weekend?

22 Jan 2021 1 minute read 0 comments Cryptofab

An article from Bloomberg last year mentioned that "Weekends are the Wild West for Bitcoin, but Nobody Knows Why". However, several reasons were mentioned to explain why weekends are good for Bitcoin, and these reasons are still valid in January 2021...