Yearn Finance is a suite of yield-optimizing DeFi protocols anchored on the Ethereum blockchain.
What is Yearn Finance?
The central goal behind Yearn Finance is to maximize returns on your cryptocurrency. It achieves this by arbitraging different lending platforms in search of the best available yield – shifting between dYdX, Aave and Compound as interest rates vary between these platforms.
Within the Yearn Finance ecosystem, investors have a choice of three core products:
For those thinking about Yearn for the long haul, it’s worth noting the limited supply of $YFI tokens. Technically speaking, users can vote to change the rules on token economics. However, if Yearn’s limited supply stays the same, then Yearn Finance will follow a similar limited-supply model to Bitcoin. At the time of this writing, 1 YFI token is $20,610.55. The predetermined total of 36,666 $YFI are in circulating supply.
Yearn Finance remains community-governed in a decentralized manner, allowing the active Yearn community to shape the future of the project. With a robust offering of products that sets the bar for other DeFi projects, some look to Yearn Finance as the standard in this ever-evolving space. Remember, decentralized finance remains in its infancy.
More conceptually, Yearn Finance remains true to its core decentralized values in that it continues to uphold transparency and is governed by the users. That means everyone gets to start on equal footing. Token holders get to vote on the rules. All proposals require over 50% approval before passing. There’s also a newsletter which users can subscribe to stay up-to-date on planned releases, bux fixes, etc.
What began as the first fair token launch has evolved into one of DeFi’s most powerful investment opportunities. Of course, nothing in the crypto world comes without risk, so proceed with care.
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