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.


Looking at Yearn through the eyes of a Seer

4 Nov 2020 4 minute read 0 comments Ceazor

It's nearly a daily occurrence that I see people posting in the Yearn telegram channel, that "YFI is a scam," or that "YFI is going to zero." And to this, I feel I have some thought to contribute.  By just looking at the chart. I can understand why...

What is Keep3r? The latest Child of Andre Cronje

2 Nov 2020 3 minute read 9 comments Chenhuang_defi

Keep3r Network is a decentralized “keeper” platform for projects that need external DevOps and for external teams to find keeper jobs. What does it mean? A “Keeper” is a person or team that executes a specific job - whether it be development or busi...

Bitcoin turns 12, happy birthday!

1 Nov 2020 2 minute read 4 comments Roberto D.

It has been 12 years since, on 31 October 2008, Satoshi Nakamoto published the famous manifesto (whitepaper) in which he spoke of a new completely electronic money. It was the beginning of Bitcoin. The first block was generated on January 3, 2009, wh...

Decentralized Horror: Roundup of the Year’s DeFi Nightmares

31 Oct 2020 8 minute read 14 comments pheonixdown-dee

Decentralized finance (DeFi) has no doubt been the driver of momentum for all things crypto this year, but it has not been without its share of horror stories. To mark Halloween, we will be digging into the DeFi nightmares, flash loan frights, smart...

YFI Price Analysis 31 October 2020

31 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...

yearn.finance (YFI) Is Dropped 54% And Still More Drop Ahead

30 Oct 2020 1 minute read 0 comments moon333

Hey friends, hope you are well and welcome to the new update on year.finance token. As in my previous post, I told you even I warned that the price action of YFI token can be crashed up to 90% more. And so far it has dropped more than 44% in the USD...

yEarn Update - Grants, Andre's Involvement and New Strategies!

29 Oct 2020 2 minute read 2 comments GabrielHaines

yEarn continues to be one of the top communities in the DeFi space, and we want to check in to see what they’re up to. GRANTS September Grant recipients can be found here and in the interest of full disclosure, I got 1,000 yUSD from yEarn for educati...

Communicational Opening of Liquidity Providers

28 Oct 2020 1 minute read 3 comments alquimista1501

Liquidity attracts more liquidity. Basically this is the main concept that is derived from the work of returns. Yield Farming has some interesting numbers associated with it that make it a very attractive operation for level investors. Expectations w...

Yearn.finance (YFI) Could Surge 20%+ as Technical Outlook Strengthens | NewsBTC

26 Oct 2020 1 minute read 5 comments BLOCKCHAIN BRAIN

He//o World... Welcome to Blockchain Announcements! Cole Petersen, one of serious cryptocurrency analyst, a few hours ago shared with us two minutes long article on the NewsBTC portal where he says this: Yearn.finance’s YFI governance token has foun...

Ethereum in an Extensive Economic Growth | Ethereum transacts two times more value than Bitcoin daily

24 Oct 2020 1 minute read 1 comment Behiver

Many would say to invest in Bitcoin, that it is the GOLD of Cryptocurrencies, but I would say to invest in Ethereum. It is my cryptocurrency of choice due to its innovation and drive of the financial world. And the third quarter economics from 2020 c...