7/3/2023 0 Comments Yfi coin priceThere was no premine upon launch in July 2020, and developers did not receive any starting funds: the total supply at launch was 0 YFI. Yearn.finance in-house token YFI has a fixed supply of 30,000 coins. How Many Yearn.Finance (YFI) Coins Are There in Circulation? Related Pages:įind out more about Harvest Finance (FARM) here.Ĭrypto newbie? Discover everything you need to know with Alexandria, CoinMarketCap’s dedicated education resource.Ĭheck out CMC’s blog for more on YFI. The target market for yearn.finance is investors who do not have the time to study the increasingly complex DeFi phenomenon from scratch, or who wish to optimize their returns. Due to its governance model, these can technically be changed by consensus at any time. Yearn.finance makes a profit by charging withdrawal fees, currently 0.5% at the end of September 2020, as well as 5% gas subsidization fees. New features continue to be rolled out, these aiming, among other things, to help preserve the long-term value of the platform. The platform makes use of various bespoke tools to act as an aggregator for DeFi protocols such as Curve, Compound and Aave, bringing those who stake cryptocurrency the highest possible yield. Yearn.finance set out to simplify DeFi investment and activities such as yield farming for the broader investor sector. He also has positions at smart contract ecosystem Fantom and CryptoBriefing, a resource dedicated to initial coin offerings ( ICOs) and crypto media. Since then, its fortunes have turned around, with assets under total value locked coming in at just over $1 billion as of the end of September 2020.Ĭronje has a long career in cryptocurrency and has become synonymous with DeFi in particular. After leaving the iEarn project in February 2020, Cronje returned to oversee a rebirth, with new tools emerging and YFI going live in July. Yearn.finance is the brainchild of Andre Cronje. Launched in February 2020, the service, formerly known as iEarn, has seen huge growth in recent months as new products debuted and developers released in-house token YFI. Its goal is to simplify the ever-expanding DeFi space for investors who are not technically minded or who wish to interact in a less committal manner than serious traders. Yearn.finance is an aggregator service for decentralized finance ( DeFi) investors, using automation to allow them to maximize profits from yield farming.
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