yearn-finance

yearn.finance Price (YFI)

#101
$31,700.18
-5.84%
฿0.75228971
-3.47%
Market Cap

The market capitalization of a cryptocurrency is its current price multiplied by its circulating supply (the total number of mined coins).

Market Cap = Current Price x Circulating Supply.
$1.1B
Volume 24h

Volume 24h is referring to the total amount of a cryptocurrency traded in the previous 24 hours.

$4.6B
Circulating Supply

Available supply or circulating supply is the best approximation of coins or tokens in circulation and publicly available.

35,693
Total Supply

The total supply of a cryptocurrency is referring to the total amount of coins in circulation or locked minus the removed ones.

Total supply = Onchain Supply - Coins Removed from Circulation
36,666

yearn.finance Price Chart (USD)

24H Change
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yearn.finance Price Update

yearn.finance price is $31,700.18, down 5.84% in the last 24 hours, and the live market cap is $1.1B. It has a circulating supply volume of 35,693 YFIcoins and a max. supply volume of 36,666 YFI alongside $1.1B 24h trading volume.
The addresses and transactions of yearn.finance can be explored in https://etherscan.io/token/0x0bc529c00c6401aef6d220be8c6ea1667f6ad93e and https://ethplorer.io/address/0x0bc529c00c6401aef6d220be8c6ea1667f6ad93e. yearn.finance website is https://yearn.finance.

No part of the content that we provide constitutes financial advice on coin prices, legal advice, or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyze and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses; please, therefore, consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.

About yearn.finance


What Is YFI

 

Yearn Finance (YFI) is a group of protocols running on the Ethereum blockchain that allows users to automatically get the highest yields on several Decentralized Finance (DeFi) platforms. It can be seen as an automatic yield farming protocol that searches the market for the best return opportunities and automatically allocates supplied liquidity to different pools in the DeFi ecosystem. Yearn Finance allows users to maximize their investments through lending aggregation, yield generation, and insurance.


The protocol is maintained by various independent developers and is governed by YFI holders, allowing all of Yearn's features to be provided in a decentralized manner.


Yearn.finance removes the need for a financial intermediary like a bank or custodian.  It provides services using only code through a built-in system of automated incentives around YFI cryptocurrency. YFI acts as a governance token concerning voting and decision-making on the protocol.


YFI is a freely tradable token with widely available pairs for cryptocurrencies, stablecoins, and fiat currencies. Major exchanges trading YFI include Binance, OKEx, Huobi Global, and automated market maker ( AMM ) Uniswap.


The yearn.finance platform consists of several core products, including:

  • Vaults – A collection of investment strategies designed to generate the highest returns from other DeFi projects. Vaults benefit users by crowdsourcing gas costs, automating the yield generation and rebalancing process, and automatically shifting capital as needed.
  • Earn – A lending aggregator, which ensures users take advantage of the highest interest rate lending an asset.
  • Zap – This product bundles several trades in one click, enabling users to swap in and out of liquidity pools on Curve and saving on costs and labor.
  • Yinsure - A KYC-less insurance policy for smart contracts.


YFI Founders


Andre Cronje, a cryptocurrency expert with extensive knowledge in mobile development and distributed systems, is the founder of Yearn Finance. Cronje's goal was to allow investors to find the best yield for their investments in a practical and automatic way.


Cronje raised no private or public funding for the yearn.finance protocol and didn't reserve tokens for himself.


Cronje was previously Head of Technology for several companies involved in blockchain and cryptocurrencies. He also worked as an advisor, engineer, analyst, and consultant for CryptoCurve or Kosmos Kapital and FUSION foundation or Fantom Foundation.


Since going live in July of 2020, Yearn has held just over $1 billion in assets at a single time.


How Does YFI Work


Yearn Finance is a yield optimizer that moves funds around the decentralized finance ("DeFi") ecosystem to generate a high return.


The majority of yearn. finance's services seek to enable users to lend or trade their cryptocurrency.


Yearn Vaults allows to automatically invest user deposits in the highest-yielding place available in the DeFi ecosystem. The returns are then distributed proportionally to users, accumulating to the yTokens they get when making deposits.

Yearn can similarly help users earn competitive returns on stablecoins by depositing them straight to the highest-yielding lending platform available.


Performance fees and other costs can be paid to YFI  holders as dividends, in an amount the community of token holders agrees on. They also earn rewards for lending cryptocurrency through the network and earn the highest possible yield when staking tokens.


Earn is a way for users to get the best interest rate on lending, and it works by searching across different lending protocols to find the best rates.


Zap allows users to complete several investments with one click.


APY (which stands for annual percentage yield) searches across the lending protocols that Earn uses. It gives the user an estimate for how much interest they can expect to earn, on an annualized basis, for a certain amount of capital.


Yearn finance debuted on July 21, 2020, with a price of YFI $804.44. It began an upward trajectory and reached $4,156.59 at the end of July. The Yearn price had risen to $33,545.84 by early September when it was posted on the most popular exchange, Coinbase Pro. It then began to fall but hit a New All-Time High of $43,873.82 by mid-September, only to fall again by the end of September.


In addition to factors affecting the crypto market, the YFI price is primarily associated with the Yearn community and reflects people's confidence in Yearn. This makes it highly unpredictable and speculative.


Yearn.Finance Network Security


The Yearn Finance network is secured by Ethereum's state-of-the-art cryptographic protocols.


Yearn.finance can be considered a platform with impeccable security standards. YFI is the ERC-20 crypto token that governs and incentivizes the Yearn Finance platform. It is a self-governed platform where only YFI holders may vote to determine if a proposal should pass. To pass and be implemented into yearn. finance's codebase, a proposal needs to have more than 50% of votes.


Yearn Finance users can sometimes face a moderate risk of losing money due to market conditions changing rapidly and opportunistic entities attempting to profit from less-experienced participants.


Andre Cronje maintains transparency about the platform's potential risks. He made it clear in the community that even after independent code audits, Yearn Finance could not be guaranteed to be 100% safe at all times. This is simply a fact of decentralized finance: DeFi involves inherent risk.

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