• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
yearn.finance logo

yearn.finance

YFI
Official links
Tags
Fantom EcosystemArbitrum EcosystemAvalanche Ecosystem

News

Qubic Demonstrates its 15.5M TPS Blockchain at Token 2049

chest
Qubic's participation at Token 2049 in Singapore promises innovations and partnerships for ecosystem growth.
user avatar

Giorgi Kostiuk

Prospects of XRP Reaching $10,000: Insights from XRP Avengers

chest
XRP Avengers present arguments suggesting that XRP could reach a price level of $10,000 due to its utility and increasing institutional adoption.
user avatar

Giorgi Kostiuk

Crypto Market: Bitcoin and Altcoins Show Growth

chest
Bitcoin and altcoins are rising amid expectations of a Federal Reserve rate cut.
user avatar

Giorgi Kostiuk

Strategy Becomes Largest Corporate Bitcoin Holder

chest
Strategy has increased its Bitcoin holdings to 638,985 BTC, reinforcing its position as a key player in cryptocurrency markets.
user avatar

Giorgi Kostiuk

What is yearn.finance?

Yearn.finance — an aggregator service for decentralized finance (DeFi) investors that uses automation to allow them to maximize profits from growing crops.

Contents:

General information about Yearn.finance

The main direction - to simplify the ever-expanding DeFi space for investors who are not technically savvy or who want to interact less responsible than serious traders.

Yearn.finance makes a profit by charging commissions:

  • 0.5% withdrawal fee;
  • 5% commission for gas subsidies;

Due to their governance model, they can technically be changed by consensus at any time. At the moment, Yearn is one of the most popular decentralized DeFi projects in crypto. YFI - the native cryptocurrency of Yearn.finance. Unlike Bitcoin, YFI is a governance token that boasts a standalone protocol.

Project direction

Yearn.finance wants to make it easier to invest in DeFi and activities like farming for a broader sector of investors.

Basic goals:

1 Aggregator of DeFi protocols such as Curve, Compound and Aave
2 Maintain the long-term value of the platform

The target market for the project - investors, who don't have time to learn the increasingly complex DeFi phenomenon from scratch or who want to optimize their profits.

Security and tokenomics

Andre Cronje, the founder of the project, is committed to keeping the platform’s origins transparent, noting that even after auditing the code, yearn.finance cannot guarantee 100% security – DeFi comes with inherent risk. Yearn.finance YFI internal token has a fixed supply of 30,000 coins. YFI is a freely traded token with widely available pairs for cryptocurrencies, stablecoins and fiat currencies. The yEarn protocol component allows users to deposit any stablecoin: DAI, USDC, USDT, TUSD, sUSD, and more.

YFI can be purchased on many exchanges, but the main ones are:

  • Binance;
  • OKEx;
  • Huobi Global;

To participate in the protocol, users must stake their YFI in a governance contract. They receive voting rights and a percentage of the protocol profits for each of Yearn's products at regular intervals. To claim the reward, users must vote, and once they vote, their YFI tokens will be locked up for three days, meaning they will not be able to unstake the asset.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.