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.


Is it still worth buying Bitcoin?

22 Jan 2021 1 minute read 0 comments Cryptofab

Usually, when BTC crashes, altcoins crash even more. In the last 24 hours, many altcoins did better than BTC as shown below (24 hr variation vs. BTC): Among them, XTZ, DOT, LINK, BTCST, INJ and YFI performed pretty well, with YFI making nice waves b...

Will YFI hit 1 BTC today?

21 Jan 2021 1 minute read 0 comments Cryptofab

Yearn Finance has lost some ground in favor of the other DeFi protocols in the last few weeks, e.g. Alpha Homora which is now also around $300m TVL. However, its upside potential remain huge, since its TVL has not been affected by the latest BTC cras...

Yearn.finance Voting on $206M Token Minting

21 Jan 2021 1 minute read 0 comments Abhimanyu Krishnan

Yearn.finance (YFI) governance community introduced a new proposal on Jan. 21 to fund the Yearn’s future operations, as seen in the governance forum. The proposal calls for the minting of 6,666 YFI tokens, worth approximately $206 million. The propo...

Yearn Finance launches V2 Vaults and price rises 15%

20 Jan 2021 1 minute read 0 comments Makingdigital

I have to scold you all. Yes. Everyone talking about damn Bitcoin but nobody talks about YFI. Absolutely nobody. This token is worth $32.000 gentlemen. What's going on here? Yearn.finance's decentralized platform continues to grow, even though no one...

$ASSY a new DeFi index in one token

15 Jan 2021 1 minute read 3 comments Pasucaru

Since the summer 2020, the decentralized finance (DeFi) appears to be the future full decentralized system for cryptocurrency. With DeFi protocol you can also access governance and farm your token to get rewards.If the USDC seems to be the best stabl...

Yearn.Finance Ready to Implode?

14 Jan 2021 2 minute read 0 comments benn0xake

Crypto Camelot is ready to destroy itself from the inside, and that's a shame. On the verge of Yearn v.2 deployment, which would basically create the world's first fully functional decentralized hedge fund and venture capital platform, the governance...

Injective Protocol INJ - Incredible potential

14 Jan 2021 1 minute read 4 comments Cryptofab

Hopefully you already know the Injective Protocol. Otherwise, it is still time to learn. According to their description on CoinMarketCap: Injective Protocol describes itself as the first layer-2 DEX that unlocks the full potential of decentralized d...

Top 10 Defi tokens 13th January

13 Jan 2021 1 minute read 0 comments Makingdigital

This January is being highlighted by the barrage of news we are receiving about many Defi and fledgling tokens that want to get attention. Just notify you of the following: If you're not into this, come in now. Do your analysis, investigate, check yo...

YFI founder Andre Cronje Lays Out DeFi Development Difficulties in Blog Post

13 Jan 2021 1 minute read 0 comments Abhimanyu Krishnan

Yearn.finance (YFI) founder Andre Cronje described the difficulties of developing in the DeFi space, listing out criticisms in a Jan. 12 blog post, and asking readers to ‘take it in context.” In the post, Cronje vents out the frustrations about deve...

The Most High-Profile DeFi Projects of 2020

12 Jan 2021 5 minute read 9 comments GetBlock

The outgoing difficult year will be remembered for the rise of the digital assets industry, the upgrade of the Ethereum blockchain project to version 2.0, and the "bull run" of decentralized finance (DeFi). By the end of the year, the Total Locked Va...