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What is yearn.finance?

What is yearn.finance?

yearn.finance

YFI

What is yearn.finance (YFI)?

Yearn.finance is a gateway protocol for multiple decentralized finance (DeFi) products on the Ethereum network. In the wake of 2020’s DeFi boom, Yield farming, an aspect of DeFi that involves moving crypto assets around to earn, became popularized. Developed by Andre Cronje in 2020, Yearn allows its users to switch their crypto assets between the yield farming protocols while maintaining the core tenets of decentralization.

Yearn.finance is an automated yield farming protocol with several sophisticated tools, including APY, Earn, Vaults, Zap, to ease user experience. These tools have been streamlined to achieve an end; they allow users to compare interest rates, identify best yield farming strategies, then earn the highest yields by lending and trading with these tools.

Yield farming and the whole concept of decentralized finance were deemed a little “geeky” at the initial advent; however, Yearn’s finance attempt to create a gateway to multiple products in the ecosystem by simply depositing a USDT, DAI, USDC, or any other stablecoin proved to be a big game-changer for the ecosystem.

Besides operating as a gateway to multiple protocols in the ecosystem, Yearn finance allows users to earn YFI, the platform’s native token while locking up their stablecoin in Yield finance smart contracts. YFI has grown rapidly over the past year, boasting over a billion dollars in fully diluted market capitalization.

What is YFI price?

YFI’s price is constantly changing. Hence, following an accurate chart is essential to make sure your portfolio is protected. Thankfully, YouHodler aggregates numbers from the leading exchanges to provide the most accurate price and chart possible.  

Where to buy YFI?

The cheapest way to buy is by depositing your stablecoins like USDC and converting them to YFI. You can also buy directly with your credit card, debit card or bank wire deposits.

How to earn interest on YFI?

Earn passive returns on your YFI by depositing it to your YouHodler wallet. Create an account with YouHodler, buy and deposit YFI, and earn up to 7% APR with compounding interest. 

How to take a loan with YFI?

Take a loan in stablecoins by using your YFI as collateral. Our interest rate is ridiculously cheap and you can get up to 90% of your collateral.

How to trade YFI?

You can do more than just hodling. Multiply your YFI bag by using our Multi HODL strategy at YouHodler. 

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