6/23/2023 0 Comments Yfi to croAt the time, Cronje was known in the Crypto Coin space for detailed code reviews on Medium. He began working closely with Curve Finance and Aave to create what became known as iEarn. In the middle, he developed a program that would automatically switch between DeFi protocols to optimize performance when he realized he could increase it and make it public. Cronje began investing his own and others' money in these protocols and would manually transfer funds to the platform / stablecoin combination that provided the largest API. Although Cronje believes that most cryptocurrencies are too unstable and speculative to invest seriously in them, he is still fascinated by the decentralized financial protocols and incredible returns offered by stablecoin on these platforms. While his colleague was on his honeymoon, Cronje began researching cryptocurrencies, claiming that if his colleague was never married, he would never interfere in the crypto space. Instead of immersing himself in the private sector, he worked on insurance, fintech, big data and distributed books (centralized blockchains). After leaving law school, he completed a three-year computer science program in just 6 months, earning an offer to teach at an institution offering a course. Community members can work together and invent new ways to maximize the return of the was created by naughty programmer Andre Cronje. Some other strategies that the vaults implement are borrowing stablecoins and using them for yield farming, reinvesting earned stable coins, using assets as liquidity, using liquidity as collateral and many more. Just like Earn, one of the strategies that vaults implement is searching for best yield farming options among lending protocols. Vaults take things a step further by using different strategies to find the best yield farming options. The protocol keeps constantly checking the return rates on the lending platform and moves your assets to a platform with the best rates. When you deposit your stable coins in a pool, you get yTokens that represent your assets. The basic function of Yearn is that it creates liquidity pools for stable coins and moves them between different lending protocols in order to get the highest yield.Įarn is a yield aggregator that constantly checks for the best rates on lending platforms and moves the assets accordingly. Yearn Finance has a number of different features and products integrated in their platform, with the main ones being Earn and Vault. In terms of market cap, yearn.finance is currently ranked #23 in the DeFi Coins sector, ranked #7 in the Yield Farming sector and ranked #50 in the Ethereum (ERC20) Tokens sector. ![]() The current yearly supply inflation rate is -9.98% meaning -3,656.00 YFI were created in the last year. Yearn.finance's current circulating supply is 32,982 YFI out of max supply of 36,666 YFI. ![]() The yearn.finance price prediction sentiment is currently bearish, while Fear & Greed Index is showing 48 (Neutral). ![]() The highest YFI price since the last cycle low was $ 13,777 (cycle high). The lowest price since it's ATH was $ 4,056.80 (cycle low). Yearn.finance reached its highest price on when it was trading at its all-time high of $ 91,137, while yearn.finance's lowest price was recorded on when it was trading at its all-time low of $ 588.57. The YFI price increased 0.28% in the last 24 hours. Yearn.finance price today is $ 6,479.73 with a 24-hour trading volume of $ 45.66M, market cap of $ 213.71M, and market dominance of 0.02%.
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