What is Yearn.Finance (YFI)?

Website: https://yearn.finance/

Maximum Supply: 36,666 YFI

Circulating Supply: 36,635 YFI

Total Supply: 36,666 YFI

Explorer: Yearn.Finance Explorer

Whitepaper: Yearn.Finance Whitepaper

What is Yearn.Finance (YFI)?

We can define Yearn.finance as an aggregator service that uses automation to maximize the profit of yield production (yield farming) for decentralized finance (DeFi) investors. Its primary goal is to make the system easier to understand and simplify transactions in the ever-expanding DeFi field for users who do not have technical knowledge and who want to interact with less information than professional investors. We can say that the service, which was launched in February 2020 and formerly known as iEarn, has grown tremendously in recent months with the release of new products and the in-house token YFI issued by developers.

Who is the Founder of Yearn.Finance?

Yearn.finance is known as the bright idea of ​​Andre Cronje. After Cronje left the iEarn project in February 2020, we see that it resurfaced in the market in July with the emergence of new vehicles and the implementation of YFI. His fortunes have since turned around, with total locked-in assets exceeding $1 billion in September 2020. Cronje has a long career in crypto money, and we can say that it has become especially popular with DeFi protocols. Cronje is also known to be on the management team of the smart contract ecosystem Fantom and CryptoBriefing, a resource focused on initial token offerings (ICOs) and crypto money media.

Why Is It Different?

It is known that Yearn.finance set out to simplify activities such as DeFi investing and yield farming for the wider investor sector. Platform; Curve states that it acts as an aggregator for DeFi protocols such as Compound and Aave, and uses a variety of ready-made tools to provide the highest possible return to share award winners by staking cryptocurrencies.

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