The maximum supply: 36,666, most of which are in circulation. YFI’s price is a function of its extremely hard, deflationary nature. The token hit an all-time high of $90,786 in May of 2021, representing a 286,744% increase from its March 2020 low of $31.65, according to CoinGecko. YFI has gained notoriety due to its comparatively large spot price. The token’s slide in the first three months of the year reflects generally stiff global macro headwinds that have detrimentally impacted digital asset markets. Yearn is one of the "leading yield aggregators in DeFi," Blockworks said.Ī token buyback program sparked volume in YFI at the start of 2022, Cointelegraph said.Īs of early April, YFI was trading at roughly $24,000 having shed one-third of its value since the start of 2022. Yearn Finance launched in February 2020 and has seen growth in use among the developer community now pursuing new strategies to maximize yield farming activities using automated solutions and leveraging collateral. Investors who are not technically savvy relative to more experienced DeFi traders are Yearn Finance's target audience. "As an ecosystem, we enjoy strong collaboration across teams," the Medium post said. The projects included SushiSwap, an automated market maker (AMM) Cream Finance, a DeFi lender Akropolis, representing a means of institutional support and Pickle Finance, a yield management platform.
They all focused on key pieces of decentralized finance (DeFi) infrastructure. Platform users to help manage holdings by selecting the strategy that best suits them and depositing assets into that vault Yearn Finance technology allows for shifting capital, auto-compounding and rebalancing, the platform says.ĭuring the latter part of 2020, Yearn Finance announced several mergers, bringing leading DeFi projects together, creating an ecosystem.Ī Medium post summarized the projects that were pulled into the combo. The most prominent product in its ecosystem, as Messari points out, is Vaults representing an array of yield farming optimization strategies proposed by the community. YFI, with its limited supply, is the platform's native asset. As a roll-up of myriad projects, the platform has several uses, including liquidity provisioning, lending and insurance. Yearn Finance is a decentralized asset management platform.
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