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.


Know all YFI forks

31 Aug 2020 4 minute read 8 comments paragism

Cover Image Source YFI price crossed $38,000 today in many major exchanges. YFI started to trade on Uniswap in the month of July’20 from the price of $32. Price of YFI has really exploded since then and it is now the costliest cryptocurrency. YFI is...

This Altcoin Is Crazy! BitMex CEO: These Legendary Levels Next

30 Aug 2020 1 minute read 11 comments DHEagle

Popular altcoin Yearn Finance (YFI) has increased by over 70% in the past 24 hours to $ 37,630 per token. This is the highest price the crypto has reached and may continue to rise, according to some experts. So what prices can Yearn Finance (YFI) see...

YFI cryptocurrency: How it works and where to buy

30 Aug 2020 2 minute read 0 comments patou

YFI is the native token of the Yearn.Finance system. Yearn.Finance is a DeFi yield farming system, focused on making it easier for users to automatically farm the highest-yields possible with their cryptocurrency. Cryptocurrency YFITotal supply 30,00...

yearn.finance(YFI )will lead the next bull run! bitcoin up 2%

30 Aug 2020 1 minute read 1 comment Kavi

The season of DefI is on huge explosion. today if we read the market sentiment than we analyse the defi yearn.finance is not going to stop at 25k and will explode till reach 30k till this week . the massive bull run will push bitcoin price to new hig...

YFI beats BTC

26 Aug 2020 1 minute read 0 comments PhoenixDev

YFI is the native governance token of Yearn.finance, with Yearn.finance being a DeFi protocol launched in July 2020 by Andre Cronje. Yearn.finance is the first Ethereum protocol that claims to give token holders all the power to rule the network. As...

BIGGER THAN BITCOIN ?

26 Aug 2020 1 minute read 0 comments rajeshwarprsd

Friends, till now we knew that Bitcoin is the highest price in crypto currency. But do you know that there is a crypto currency which is worth more than bitcoin in today's date. image source: Coingecko.com Yes friends, Yearn.finance (YFI), whose pri...

$YFI, $YFII & $YFV - What are These and How They Differ?

25 Aug 2020 4 minute read 5 comments Adamic0

It's hard to catch up with DeFi these days.  I know. There are new projects that pop up every day, and it is becoming difficult to recognize what has a potential future and what is just a fly-by-night launch. Not so long ago, it was just Compound and...

With More than 50% Voting Power, Curve's Founder Promises to Hold Back on Voting

24 Aug 2020 1 minute read 0 comments Abhimanyu Krishnan

The Curve Finance (CRV) project has come under scrutiny for the fact that founder and CEO Michael Egorov holds roughly 60% of the network’s voting power - a conscious choice to prevent other larger holders from controlling the network. YFI co-founder...

Bitcoin (BTC) Price Cheaper Compared To DeFi Yearn.Finance (YFI) Token!

21 Aug 2020 1 minute read 0 comments LinkStar

  The DeFi market is booming regardless of the YAM incident. One of the DeFi tokens yearn.finance (YFI) has a value more than that of Bitcoin (BTC). A single token price is now above $14,000 as compared to Bitcoin's $11,800 USD as per Coingecko data...

How to Buy YFI? The First Altcoin to Flip Bitcoin’s Price Convincingly [Post #1 of 90]

20 Aug 2020 4 minute read 22 comments Nek1d

Here’s the first of my 90-days challenge posts and it seemed only logical to talk about YFI - the altcoin that took everyone by surprise. If someone tells you they’re riding this from the beginning intentionally, they’re likely to be lying.  Now, I’m...