YFI
yearn.financeUSD 5,013.78
as of 2024-10-15 14:40:02 UTC
What
What is yearn.finance (YFI)?
YFI (yearn.finance) is a cryptocurrency token and governance token of the yearn.finance protocol, which is a decentralized finance (DeFi) platform built on the Ethereum blockchain. The platform allows users to earn interest on their cryptocurrency holdings through a variety of lending and borrowing platforms, and YFI holders have voting rights on protocol upgrades and changes. The value of YFI is highly volatile and has seen significant price fluctuations since its launch in 2020.
Why
Why was yearn.finance (YFI) invented?
YFI (yearn.finance) was created by the anonymous developer Andre Cronje as a governance token and native cryptocurrency of the yearn.finance protocol, which was created to simplify the process of earning interest on cryptocurrency holdings through a variety of lending and borrowing platforms. The idea behind the protocol is to aggregate the liquidity of different DeFi platforms and optimize the returns for the users. The YFI token grants holders voting rights on protocol upgrades and changes, allowing them to shape the development and future of the platform.
Who
Who created yearn.finance (YFI)?
Yearn.finance, often referred to as YFI, is a decentralized finance (DeFi) platform that enables users to optimize their yield farming strategies. It was created by Andre Cronje, a software developer from South Africa.
Cronje is a well-known figure in the DeFi community and has been working on Ethereum-based projects since 2017. He started developing the Yearn.finance protocol in early 2020 as a way to simplify and automate the yield farming process for cryptocurrency users.
The Yearn.finance protocol has since become one of the most popular DeFi platforms in the cryptocurrency industry, with a total value locked of over $4 billion as of April 2023. Cronje continues to lead the development of the platform, which has grown to include multiple products such as Vaults, Earn, and Zap.
When
When was yearn.finance (YFI) launched?
2020-07
Where
Where can you buy/invest in yearn.finance (YFI)?