Latest Posts with Yearn Finance (YFI) tag

Yearn Finance (YFI)

95 Articles 144 Followers

Yearn Finance YFI Logo
yfi
usd

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.


Can yETH bring the Ethereum bull back?

7 Sep 2020 2 minute read 4 comments paragism

Cover Image Source Bitcoin topped $12,000 some days back before crashing toward $10,000. The global stock market also plunged along with Bitcoin. $10,000 is a crucial support for Bitcoin. Ethereum outperformed Bitcoin in the last a few months as per...

yEarn.Finance's yETH Vault Secures $140M in 2 Days

4 Sep 2020 1 minute read 0 comments Abhimanyu Krishnan

yEarn Finance’s yield farming mechanism yETH vault, has secured over $140 million in just 2 days,  The yETH vault was launched on September 2, and automates the liquidity provision process In the case of the yETH vault, ETH is provided to Maker CDPs...

Whale Wallet Analysis - YFI

4 Sep 2020 7 minute read 4 comments D3F1

Hello guys, it seems that you guys really appreciate these Whale Wallet Analysis posts and I love doing the research for you. Therefore, I am back with another one - this time for YFI which has been on FLAMES recently. I have previously conducted a s...

The strategy behind the yETH vault

3 Sep 2020 1 minute read 0 comments GabrielHaines

The yETH vault just launched yesterday on yearn.finance In this video, I explain the strategy behind the vault and some of the risks associated with using it. The basics is that when your ETH is placed into the yETH vault it gets put into Maker and...

Is Yearn.Finance (YFI) Driving Ethereum (ETH) to the Moon?

3 Sep 2020 1 minute read 2 comments Cryptofivers

There are many options in the crypto space but Ethereum plan B appears to be working for the platform and the investor. The last two days have seen a huge pull back in the digital money market. The DeFi space has been on the upside and this has come...

This New Wallet And DeFi Access App Is Trying To Fix Crypto Problems

1 Sep 2020 2 minute read 0 comments reedyzzx

In the past few months, DeFi has been going crazy. The crypto market is getting mainstream again just like late 2017 because of the DeFi craze.  DeFi has become a big thing in the crypto space, as a total sum of $9.03 billion (as of 1 September) has...

Top Things You Should Know About Yearn Finance (YFI)

1 Sep 2020 7 minute read 8 comments MuyAsk

Hey guys :) I’m back with another comprehensive Q&A piece, this time for the lucrative yield aggregator platform that automates yield-maximizing profit switching opportunities for liquidity providers and yield farmers – Yearn Finance (YFI). Yearn Fin...

yEarn Launches yDAO Funding Vaults

1 Sep 2020 1 minute read 0 comments Abhimanyu Krishnan

On August 29, DeFi yield aggregator yEarn launched a new delegated vault for decentralized funding called yDAO.  The yDAO vaults will let users fund the vaults with YFI token, which can be utilized by applicants for a variety of needs, such as produ...

How YFI Beats BTC to Become the most Expensive Coin

1 Sep 2020 1 minute read 0 comments George Owota

Yearn.finance’s native governance token, YFI, is now the second-biggest decentralized finance (DeFi) coin in the coin market with a market capitalization of $1billion and a volume of $652,424,201 just one and a half months after its launch.YFI has b...

Is $YFV the next $YFI?

1 Sep 2020 6 minute read 3 comments Chenhuang_defi

Things are CRAZY right now. It is impossible to keep up-to-date with the latest happenings with DeFi going extremely parabolic. While the total value locked (TVL) in DeFi contracts approaches $8 BILLION, everybody seems to want to put their hands ins...