Cryptocurrency yearn.finance (YFI)
The price for yearn.finance (YFI) cryptocurrency is currently 7.97K $ (15 min delay),
daily range of currency change is 7.87K - 8.10K .
Last 24 hours news: trading volume - 21.11M $, price variance -1.25% .
The highest trading volume belongs to the pair YFI/USDT at the Bibox exchange
Project Website - https://yearn.finance
Explorer of transactions - https://etherscan.io/token/0x0bc529c00c6401aef6d220be8c6ea1667f6ad93e
Twitter Account - https://twitter.com/iearnfinance
Chart yearn.finance (YFI)
|Current price yearn.finance (yfi)||7.97K $|
|Market Capitalization||250.22M $|
|Trading Volume last 24h||21.11M $|
|Minimum exchange rate (24h)||7.87K $|
|Maximum exchange rate (24h)||8.10K $|
|Market cap rank||№ 136|
|Absolute maximum||90.79K $|
|Absolute minimum||31.65 $|
|0.03%||2.75M $||2022-10-03 08:56:06|
|0.06%||2.05M $||2022-10-03 08:53:34|
|0.03%||1.54M $||2022-10-03 08:55:26|
|0.05%||1.50M $||2022-10-03 08:54:45|
|0.03%||1.36M $||2022-10-03 08:55:03|
What is yearn.finance (YFI)
Yearn Finance is a suite of products in Decentralized Finance (DeFi) that provides lending aggregation, yield generation, and insurance on the Ethereum blockchain. The protocol is maintained by various independent developers and is governed by YFI holders.
It started out as a passion project by Andre Cronje to automate the process of switching capital between lending platforms in search of the best yield offered, as the lending yield is a floating rate rather than fixed rate. Funds are shifted between dYdX, AAVE, and Compound automatically as interest rates change between these protocols.Â
The service offered includes major USD tokens such as DAI, USDT, USDC, and TUSD. For example, if a user deposits DAI into yearn.finance, the user will receive yDAI token in return, which is a yield-bearing DAI token.Â
Later on, it collaborated with Curve Finance to release a yield-bearing USD tokens pool that includes four y-tokens: yDAI, yUSDT, yUSDC and yTUSD, it is named as yUSD.Â
Yearn Finance debuted the vault feature after its token launch, igniting a frenzy on automated yield farming and is considered the initiator of the category of yield farming aggregator. Basically, the vault will help users to claim yield farming rewards and sell it for the underlying assets.Â
Vaults benefit users by socializing gas costs, automating the yield generation and rebalancing process, and automatically shifting capital as opportunities arise. End users also do not need to have proficient knowledge of the underlying protocols involved or DeFi, thus the Vaults represent a passive-investing strategy. It is akin to a crypto hedge fund where the aim is to increase the amount of assets that users deposited.