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.


My brief experience with DEFI and what I think about it

20 Nov 2020 1 minute read 0 comments Cryptolohy

We are at the cusp of a huge paradigm shift, from centralization  to decentralization, this is apparent in several ways, for instance, how the job market is becoming more flexible, allowing people to work from home or even work from anywhere, and thu...

3D of Mining

19 Nov 2020 1 minute read 16 comments Coincobra

Start mining now FREE. Mining 3D First Dimension - SHA-256 is a critical computational hash function that uses video cards and high logical capacity computers to guarantee the security, authentication and operation of the entire Proof of Work system...

ADX Farming: 2 million $ADX Yield for Liquidity Providing on Uniswap and Balancer

19 Nov 2020 3 minute read 0 comments dmngdsm

We are delighted to announce a new ADX incentive program (a.k.a farm) for liquidity providers: over 2 million ADX will be distributed to people who supply liquidity on the Balancer ADX/yUDS pool, Uniswap ADX/ETH pool and other community requested poo...

I love it that the total supply is more prominent now on coinmarketcap

19 Nov 2020 1 minute read 0 comments karinxxl

Maybe this has been here a long time already and I have missed it in total over the last period of time, or maybe this is a new feature implemented in the coinmarketcap stats. Either way, I really like it. When you open Coinmarketcap and you hoover o...

Bitcoin or YFI - Which one should I buy?

19 Nov 2020 1 minute read 3 comments Fab G

YFI has grown from $7k to $24k in a short period of time. Can it rally back to $40k, or return to less than $10k? What are the fundamentals of this coin? A few thoughts below: Market-wise, Bitcoin is still the leader. The other cryptos, including YF...

YFI Breaks Out — Will YFII Follow Suit? - (TA - 19th of November)

19 Nov 2020 1 minute read 0 comments pheonixdown-dee

The prices of both Yearn.Finance (YFI) and DFI.Money (YFII) have been increasing since Nov 5. While the former has already flipped an important resistance area, the latter is still struggling to break out. YFII Trading Range Since Oct 7, the YFII...

This Binance-Sponsored DeFi Coin Has Surged 600% in the Past Week | ALPHA Finance x NewsBTC

16 Nov 2020 1 minute read 0 comments BLOCKCHAIN BRAIN

Nick Chong, author from the NewsBTC portal said that: ALPHA is the native token of Alpha Finance Lab, supported by Binance Launchpad and investors such as Spartan Group and Multicoin Capital. The project is focused on building out an ecosystem of cro...

Crypto Analyst Expects Ethereum and DeFi to Go on a “Stupid Run” | Cole Petersen @ NewsBTC

15 Nov 2020 1 minute read 1 comment BLOCKCHAIN BRAIN

Cole Petersen, a cryptocurrency analyst published a very useful article @ NewsBTC portal saying that *The decentralized finance sector has posted massive gains throughout the past week, with all the “blue-chip” tokens seeing explosive momentum as bul...

Ethereum DeFi’s most enigmatic investor, “DegenSpartan” says this will be DeFi’s watershed moment

14 Nov 2020 1 minute read 0 comments BLOCKCHAIN BRAIN

Nick Chong, Analyst @ CryptoSlate published an interesting article where he said that *The pseudonymous investor, believed to be based in Asia, has become one of the most popular voices within the Ethereum and DeFi community, having entered this cryp...

Polkadot X Ethereum - Giant fight

13 Nov 2020 1 minute read 2 comments Coincobra

Polkadot      Market Rank - 9 Price today (13/11/2020) - $4,45 USDMarket Cap - $3.907.171.844 USDVolume (24h) - $345.006.116 USDCirculating Supply - 877.539.162 DOTTotal Supply - 1.012.344.574 DOT Ethereum Market Rank - 2 Price today (13/11/2020) -...