Other essential team members lead the project to great success, like and which are the social media nicknames associated with these individuals. During one particular week, Yearn.Finance grew more than 1000 percent and continued to break new records as the project attracted more investors over time. It was valued at more than 25,000USD, which attracted a huge crowd to grab a piece of the value of this so-called ‘DeFi gem’ at the time.

He is a well-respected individual who created some of the best projects to date, such as Keep3rV1 (KP3R), for example.īack in July 2020, Yearn.Finance surpassed bitcoin in terms of price but not market cap. It truly deserves the recognition it is getting thanks to the founder and lead developer of the project- Andre Cronje. YFI entered the crypto space in little under a year ago, in July 2020. While not aiming to ‘burst any bubbles’ here as solid and well-built as YFI is, it is a relatively new project but has done extremely well so far. Brief History of Yearn.Financeĭue to the high quality of the Yearn.Finance project, one would believe that it is not new to the crypto space and have years of development backing it along with the team. Locking up tokens to earn more YFI is essentially yield farming. We have mentioned that yield farming is a feature of the Yearn platform, and this is a clear example of what that is. Users who lockup their stable coins will earn YFI tokens in return that they can sell on various markets or exchanges. In this regard, yEarn adopts the YFI token, which is used to create a standard currency for the platform users can rely on when doing various transactions. With most cryptocurrency protocols, there is a coin or tokens associated with the project. Users of the platform are exposed to all these options and decide on which they want to participate. The company offers various services on its blockchain ledgers like yield farming, coin swapping, profit switching, and insurance. This is done through what is known as staking or locking up tokens, as mentioned earlier. You can think of Yearn.Finance Company/Ledger as an all in one blockchain solution to maximize investors’ gains over time. What is Yearn.Finance Company/Ledger and what is YFI Coin? The platform allows an investor to enter various vaults or pools with ERC20 stablecoins such as DAI, TUSD, USDC, USDT, or SUSD. One key thing to note is that Yearn works as a yield aggregating platform by effortlessly maximizing investments for the highest yearly yield or annual percentage yield (APY) possible. Let’s take a deep dive further into what YFI or yEarn as it is sometimes referred to. yEarn was launched on the Ethereum blockchain and had been making waves in the industry ever since its launch. The algorithm then automatically chooses the best rewards upon investing, so investors would effortlessly earn interest in their investments. They bundle decentralized finance (DeFi) products into one package for investors or users. So what is YFI? Well, Yearn.Finance can be thought of as a portal that gives users the ability to access and invest in many different assets and products, all from one platform. In this article, we will be taking a look at Yearn.Finance or YFI for short. Yearn.Finance is on a different level, though, and is seen as the magic door to the DeFi space that the mother of smart contracts- Ethereum gave to us. We must admit that hundreds of new cryptocurrencies are deployed in the space almost every day, and while some earn the spotlight they don’t do so for long.

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