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yearn.finance  (YFI)

yearn.finance (YFI)

$35,180 3.2%
0.68200702 BTC -2.3%
21.86027017 ETH -0.1%
35,781 people like this
Market Cap
$1,249,979,056
24 Hour Trading Vol
$328,468,917
24h Low / 24h High
$32,492 / $35,571
Circulating Supply
35,546 / 36,666
Fully Diluted Valuation
$1,289,349,099
Max Supply
36,666
Total Value Locked (TVL)
$839,867,727
Market Cap / TVL Ratio
1.49
Fully Diluted Valuation / TVL Ratio
1.54
YFI
USD

How do you feel about yearn.finance today?
78%
22%
👍 👎
1h
24h
7d
14d
30d
1y
-0.6%
3.2%
5.6%
-18.1%
16.5%

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yearn.finance Price and Market Stats

YFI Price $35,180
Market Cap $1,249,979,056
Market Cap Dominance 0.08%
Trading Volume $328,468,917
Volume / Market Cap 0.2636
24h Low / 24h High $32,492 / $35,571
7d Low / 7d High $30,631 / $34,900
Market Cap Rank #64
All-Time High $51,544 -31.6%
Feb 12, 2021 (19 days)
All-Time Low $31.65 111233.6%
Jul 18, 2020 (8 months)
Affiliate disclosures
# Exchange Pair Price Spread +2% Depth -2% Depth 24h Volume Volume % Last Traded Trust Score
1 YFI/USD
$35,383.00
35383 USD
0.25% $1,844,278 $1,926,462
$1,190,493.98
33.646 YFI
0.36% Recently
2 YFI/ETH Info 0x0bc529c00c6401aef6d220be8c6ea1667f6ad93e
$35,146.81
21.8602533011045 ETH
0.6% $1,623,197 $1,618,320
$3,640,096.54
103.568 0X0BC
1.11% Recently
3 YFI/USDT
$35,174.25
35151.76 USDT
0.12% $740,310 $514,294
$2,422,188.02
68.863 YFI
0.74% Recently
4 YFI/USDT
$35,369.05
35343.45 USDT
0.12% $646,618 $390,774
$19,900,838.30
562.662 YFI
6.06% Recently
5 YFI/USDT
$35,203.88
35156.8 USDT
0.07% $628,171 $307,312
$11,234,161.19
319.117 YFI
3.42% Recently
Show More
Anomaly BTC/USD Stale

About yearn.finance Coin

yearn.finance price today is $35,180 with a 24-hour trading volume of $328,468,917. YFI price is up 3.2% in the last 24 hours. It has a circulating supply of 36 Thousand YFI coins and a max supply of 36.7 Thousand. Bitfinex is the current most active market trading it.

 

What is YFI?

YFI is the governance token for the Yearn Finance protocol. It can be used to vote and receive cash flows from the fees earned by the protocol. 

YFI initiated the first community-fair-launched token distribution, giving out 30,000 tokens to early protocol’s users by a surprise yield farming announcement back in 17-July-2020. 

 

How to obtain YFI?

YFI can be obtained by buying them from exchanges such as Sushiswap or Binance. You can find YFI trading on various centralized and decentralized cryptocurrency exchanges

 

What is Yearn Finance?

YFI Yearn Finance yieldfarming

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. 

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. 

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

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. 

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.

 

What is Yield Farming and Delegated Vaults?

Yield Farming refers to the activity of depositing and locking capital in a DeFi Protocol for the reward of the protocol’s native tokens. DeFi protocols need to bootstrap capital to provide liquidity for exchanges, lend to borrowers, underwrite insurance risk, etc. It acts as an incentive to attract users to use the protocol while generating hype, giving out part of its native tokens. 

Other than simple yield farming, Yearn Finance also released a product named delegated vault. Delegated vaults basically use any assets as collateral to borrow stablecoins and recycle the stablecoins into a stablecoin vault. Any subsequent earnings are then used to buy back the asset. 

For example, one of the delegated vaults is yETH, where users can deposit ETH and expect to have more ETH when they withdraw. The ETH is sent to Maker DAO as collateral in order to draw DAI where the DAI will be invested into the DAI vault, with subsequent earnings used to buy back ETH. 

 

Why is the founder, Andre Cronje controversial or famous? 

YFI Andre Cronje Yearn Finance

Andre became one of the most famous DeFi thought leaders as he launched Yearn Finance single-handedly, witnessing YFI price went up by roughly 55x in less than 3 months, valuing Yearn Finance by more than $1 billion. He is vocal on Twitter with his ethos of fair token launch and having a bias on launching experimental projects before audits, which gave birth to one of the DeFi main activities “Aping”. 

Aping basically means buying the tokens the moment it launches in Ethereum mainnet before fully knowing the function of the tokens. It normally involves directly interacting with the Ethereum contract before a website UI is out or buying it straight from DEX such as Uniswap. It is a high risk activity, causing many investors to lose their fund to scams. But the lure of getting early access to tokens that might go up rapidly in price is attracting tons of speculators. 

One of the examples is when Andre launched EMN, a game economy engine called “Eminence” that was subsequently hacked for $15 million. Subsequent launch of the KP3R token, a network that facilitates keepers to perform automated tasks on behalf of requestors, saw the price go up by 22x in less than 3 months, valuing KP3R at more than $100 million. The activity of aping will not die down anytime soon with numerous projects achieving high valuation within a short span of time. 

 

What is the Yearn Finance Alliance?

YFI Yearn Finance

During the weeks of 24 November until 3 December 2020, Yearn Finance announced the Merger and Acquisition (M&A) of multiple protocols, essentially forming an alliance revolving around YFI. 

  1. SushiSwap joined as its Automated Market Maker (AMM) arm.

  2. Cover joined as its insurance arm.

  3. Cream joined as its lending arm. 

  4. Akropolis joined as its institutional service provider for yVaults and upcoming lending products.

  5. Pickle joined as one of its strategists. 

There are even multiple Yearn Ecosystem Index tokens launched such as YETI by Powerpool and YPIE by PieDAO.

 

What are the fees to use Yearn Finance?

Yearn Finance v1 charges a withdrawal fee of 0.5% plus 5% performance fee from the gas cost saved.

Yearn Finance v2 follows the traditional hedge fund fees structure of 2/20 where it charges 2% for management fee and 20% for performance fee. Yearn Finance v2 was launched on 19 January 2021.

 

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