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.


YFI Founder Explains Development Ethos in Blog Post, Says He Doesn't Build for Speculators

16 Oct 2020 1 minute read 1 comment Abhimanyu Krishnan

On October 15, yearn.finance founder Andre Cronje published a lengthy blog post describing his motivation for developing DeFi projects, in response to the controversy arising from the Eminence.finance project.  Cronje’s stated that he wanted to star...

YFI Price Analysis 16 October 2020

16 Oct 2020 1 minute read 0 comments Suryakantdalai

Remember to read the date of this post carefully. In this post, you will get the live price of daily YFI. We also provide you with the YFI's market capitalization, weekly, monthly value, trading volume, peak and lowest prices and trading volume. We a...

Maker Governance Community Votes to Add BAL and YFI as Collateral

15 Oct 2020 1 minute read 0 comments Abhimanyu Krishnan

The Maker governance community is all set to vote on the addition of Balancer (BAL) and yearn.finance (YFI) as collateral for generating stablecoin DAI, according to a blog post published on October 12. The Maker team has added proposals for the add...

Gas Price: how to spend less on Ethereum transactions

13 Oct 2020 3 minute read 29 comments Roberto D.

The price of Ethereum is closely linked to the cost of transactions. Starting from the price of ether, understanding where transaction costs come from and how to save becomes essential, not only to carry out low-cost transactions but also to understa...

YFI Price Analysis 13 October 2020

13 Oct 2020 1 minute read 1 comment Suryakantdalai

Remember to read the date of this post carefully. In this post, you will get the live price of daily YFI. We also provide you with the YFI's market capitalization, weekly, monthly value, trading volume, peak and lowest prices and trading volume. We a...

yEarn in trouble? Kirby’s gone, Andre reportedly quit, YFI lawsuit? Let’s straighten things out.

12 Oct 2020 2 minute read 2 comments GabrielHaines

There have been a lot dramatic issues that have popped up with relation to yEarn in the past few days. In this article, we will examine them one by one and see if there is cause for concern. BLUE KIRBY Once the official mascot of yEarn, the meme-hea...

How YFV Pulled $150M From Balancer in 24 Hours (Full Story)

12 Oct 2020 5 minute read 2 comments Adamic0

If you clicked on this piece, it probably means that you are familiar with Balancer - an Automated Market Market (AMM), which is the second biggest in the industry after Uniswap or YFV - a tweaked version of YFI.  Now, let me tell you something quite...

Investors are Raising Funds Against YFI Founder Cronje for EMN Incident

12 Oct 2020 1 minute read 1 comment Abhimanyu Krishnan

Several investors in Andre Cronje’s Eminence.finance (EMN) project are raising funds to file a lawsuit against him, according to a blog post by said group. The group, which has posted on Medium under "Eminence Investigation", is raising funds to fil...

Weekly Crypto Roundup with Crypto Rays

11 Oct 2020 2 minute read 2 comments Venkatz

  Google Cloud ~ EOS Network On October 6th, 2020  Block.one released a report stated that  Google Cloud is joining with the EOS community and taking all the steps to become a Block Producer in EOS Network (EOSIO BLOCKCHAIN). Google cloud's Develope...

🗞 Daily Crypto News, October, 10th💰

10 Oct 2020 4 minute read 2 comments Crypto_Lemon

Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!       🗞 $12K Bitcoin price back on the table after BTC rallies above $11.4K On Friday Bitcoin (BTC) price finally managed to break above the symmetr...