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.

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11 Jan 2021 7 minute read 115 comments MuyAsk

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11 Jan 2021 1 minute read 0 comments rah

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10 Jan 2021 1 minute read 3 comments rah

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10 Jan 2021 1 minute read 3 comments Cryptofab

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9 Jan 2021 1 minute read 0 comments JakeB

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YFI staking in Binance HURRY UP!

7 Jan 2021 1 minute read 1 comment Makingdigital

Binance once again gives us another opportunity to farm cryptocurrencies and quality tokens that help us make our savings profitable. There is an option that includes the platform to do Lock Staking. It is a kind of permanent freeze that we make of o... (YFI) | This Bullish Reversal Move Can Be Another Buy The Dip Opportunity

6 Jan 2021 1 minute read 1 comment moon333

   Hi friends hope you are well and welcome to the new update on the YFI token.       Rejection by 30K resistance level:   Previously we have seen that the price line of YFI was rejected by the 30K resistance and it was moving towards the support of...


1 Jan 2021 15 minute read 7 comments SirGerardThe1st

This article was posted at 0000, Buenos Aires time, January 1st, 2021, Happy New Year to all of you Publish0x guys, thanks for everything you gave me! I would not want you to lose sight of the fact that the objective of this blog is to analyze the...

Ytoken's, a retrospective look at this initiative

31 Dec 2020 2 minute read 1 comment alquimista1501

Of many DeFi's initiatives, the Year.Finance (YFI) token is the one that most catches my attention, not because of its value, as it has been one of the few that has surpassed, for a moment, Bitcoin (BTC) as a value of most expensive unit, even exceed...

[Walk-through] - 1INCH pools and farms - Experience sharing

30 Dec 2020 3 minute read 2 comments HykSs

Today I'll try to share my very recent experience (yesterday) on 1inch and no, I'm not going to send you a scam link to get some money out of your wallet :) This is going to be a walkthrough on adding liquidity and staking on their farming pools.   W...