Yearn.Finance (YFI)
Last updated 14/07/2022
Official Website: https://yearn.finance/
What Is Yearn.Finance (YFI)
Yearn.finance is a decentralized finance (DeFi) investor aggregator service that uses automation to enable investors to maximize yield farming earnings. Its objective is to make the constantly increasing DeFi area simpler for investors who are not technically savvy or who prefer to communicate less formally than serious traders. The service, originally known as iEarn, was introduced in February 2020. In recent months, more goods have been introduced, and developers have provided their own proprietary token, YFI.
For the larger investor sector, Yearn.finance aimed to make DeFi investment and related activities, including yield farming, simpler.
The site makes use of a number of custom tools to operate as an aggregator for DeFi protocols like Curve, Compound, and Aave, providing cryptocurrency investors with the maximum yield possible. New features are constantly being released, with the goal of maintaining the platform's long-term value among other things. By assessing withdrawal costs, which is 0.5%, as well as 5 percent gas subsidization fees, Yearn.finance generates a profit. These are technically subject to alter at any time by consensus due to the governance mechanism. Investors who don't have the time to thoroughly research the increasingly complex DeFi issue or who want to maximize their earnings are yearn.finance's target market.
Team
Andre Cronje is the creator of Yearn.finance. Following his departure from the iEarn project in February 2020, Cronje came back to lead a revival that saw the launch of YFI in July and the emergence of new tools. Since then, its fortunes have improved, and as of the end of September 2020, its assets under total value locking were slightly over $1 billion. Cronje has a lengthy history in the cryptocurrency industry and is particularly associated with DeFi. Additionally, he holds positions at the smart contract network Fantom and the initial coin offering (ICO) and cryptocurrency media portal CryptoBriefing.
Roadmap
Where to store Yearn.Finance (YFI)
Trust Wallet - a multi-currency mobile wallet that enables users to simultaneously store a variety of digital assets in one place. Beginner friendly mobile wallet may be appropriate for users looking for a convenience and accessible app, with trusted security and backup options.
Another option where you can store your YFI is in Exodus along with various other cryptocurrencies. Exodus is free and easy to use and can be downloaded to either a desktop or mobile device. Exodus will then be tied to whichever device it has been downloaded to which will also be the device you will use to access and manage your crypto assets.
Similarly, a user-friendly option to keep your $IFY secure can include MetaMask, a leading browser wallet extension popular amongst DeFi platforms and highly praised by developers. Users can integrate with the network’s Liquidity Mining pools by connecting to your MetaMask wallet.
Where to Buy and Sell Yearn.Finance (YFI)
You can Buy & Sell Yearn.Finance (YFI) by heading over to the Buy Coins page of our website. Yearn.Finance (YFI) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying $YFI has never been easier, simply place your order and provide your wallet address. Once your payment arrives Yearn.Finance (YFI) will be sent directly to your wallet.
If you choose to Sell Yearn.Finance (YFI) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on our Sell Coins page.
Yearn.Finance (YFI) Resources:
Website: https://yearn.finance/#/portfolio
Block Explorer: https://etherscan.io/
Twitter: https://twitter.com/iearnfinance
Medium: https://medium.com/iearn
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.