![]() It is akin to a crypto hedge fund where the aim is to increase the amount of assets that users deposited. Vaults benefit users by socializing gas costs, automating the yield generation and rebalancing process, and automatically shifting capital as opportunities arise.Įnd users also do not need to have proficient knowledge of the underlying protocols involved or DeFi, thus the Vaults represent a passive-investing strategy. 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.īasically, the vault will help users to claim yield farming rewards and sell it for the underlying assets. 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. Please note that we will calculate any amount of yearn.finances in US Dollars no matter how big is the number you enter, but it will be just that - a calculated number. After the recent downturn, the YFI/USD has been reduced to 5, price analysis. 0.000001 YFI is worth 0.005691 USD as of Aug(Thursday). The service offered includes major USD tokens such as DAI, USDT, USDC, and TUSD.įor example, if a user deposits DAI into yearn.finance, the user will receive yDAI token in return, which is a yield-bearing DAI token. YFI Observes a Topple Down to 5,727 as the Market Crashes Again. ![]() Cryptocurrency market is highly volatile and yearn.finance price could be changed drastically within an hour. 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.įunds are shifted between dYdX, AAVE, and Compound automatically as interest rates change between these protocols. finance (YFI) in US Dollars (USD) is 6834.298087. The protocol is maintained by various independent developers and is governed by YFI holders. yearn.finance news About yearn.finance What Is Yearn.Finance (YFI) Yearn.finance is an aggregator service for decentralized finance ( DeFi) investors, using automation to allow them to maximize profits from yield farming. Yearn Finance is a suite of products in Decentralized Finance (DeFi) that provides lending aggregation, yield generation, and insurance on the Ethereum blockchain.
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