Yearn.finance (YFI) is a token running on the Ethereum platform.
Yearn, which is among the most popular altcoins of recent times.finance (YFI) is a token running on the Ethereum platform. Especially about YFI, which has achieved the impossible by passing the price of Bitcoin and then the big increase it has experienced, “what is Yearnfinance?"it seems that such questions are often asked.
In this article, " What is Yearnfinance?“, "What is Yearnfinance? We will address issues such as” DeFi “and” buy YFI coin".
Decentralized finance (DeFi) has recently become quite popular. As a matter of fact, DeFi tokens are also often mentioned. It is not surprising that the yfi token has also become popular as it is a DeFi project.
The amazing thing about yfi coin is that yfi's developer Andre Cronje designed the token as a “token with a financial value of 0” and “a token with no supply value of 0 in its entirety”. Because Cronje, who developed the project alone, wanted the YFI coin to be used as a voting token, so its value was zero. But it did not turn out as expected, and the Yearnfinance Coin increased 35,000% in 1 week after the market was driven.
Besides that, yearn.finance can be described in summary as” a sophisticated protocol that directs liquidity to different sectors of the DeFi universe to find the best return."
Yearn, on the other hand.part of the finance ecosystem, yEarn uses Defi protocols such as Curve, Compound, AAVE, and dYdX to optimize token lending. yEarn is known as yPool on the Curve. When a user deposits tokens, they are converted to “optimized tokens”, i.e. ytoken, such as yUSDC, yUSDT, and yDAI. This allows the user to earn not only regular lending fees, but also transaction fees from Curve. With this system, yEarn directs liquidity to different sectors throughout the DeFi area.
Besides that, yearn.in the finance system; yearn.finance, ytrade.finance, yswap.exchange, iborrow.finance and yliquidate.it's finance. In short, yearn.finance provides for-profit lending, while ytrade.finance allows leveraged stablecoin transactions. Yliquidate.finance provides liquidity for aeve with zero capital automation. Yswap.finally, iborrow.finance has a smart Inter-contract credit authorization Vault feature.
What is YFI Coin?
Yearnfinance Coin or YFI coin for short, yearn.it's defined as the token that controls the finance ecosystem. Yfi coin, trading at $ 13,512 at the time of publication, is also known for surpassing bitcoin's price at the same time.
In addition, although it is still a very new token, the YFI token has a 24-hour trading volume of 114,563,248 USD, with a trading volume of 404,870,135 USD as of the time of publication of the article.
It also seems that the supply of YFI coin is actually very low. Currently, there are a total of 29,962 yfi in circulation, while information that this will reach a maximum of 30,000 yfi tokens is included in the CoinMarketCap data.
Year Finance Review
The yfi token was particularly drawn upon the eyes after the listing of Binance. In addition, after the token was designed with a zero value, its value increased to more than $ 13,000.
However, the fact that the name behind the project also developed the project alone is another point that has garnered praise.
Evaluating both the project and the price movements of the token, the names say that the project is promising, but after a while this large increase in the YFI token will end and go down.
How To Buy Year Finance?
Perhaps Binance comes to mind first when it is said “Buy YFI coin”. YFI coin, one of the most popular cryptos of recent times, can be purchased from Binance, the world's highest trading exchange.