![]() It wouldn’t matter if a user is a big whale or small investor as Yearn Fuel wants to make Yearn Finance accessible to everyone. The project aims to make Yearn Finance genuinely accessible. Moreover, Yearn Finance Link hosts five different pools, all with their unique configurations for increasing yield. That means you can both earn YFLINK from the YFLINK pool and BPT from the Balancer pool. Next, those BPT tokens can be staked with the YFLINK pool. To give a quick example, you can deposit LINK and YFLINK tokens into a Balancer pool, giving you BPT tokens. Many analysts call YF Link the connecting bridge between ChainLink and Yearn Finance. Later on, they also brought the concept of yield farming to LINK holders. They adapted it to allow for staking LINK. The YFL development team took Andre Cronje’s YFI project and forked it. You must have already understood by now that this project has its origin in the Chainlink community. The project wants to leverage the DeFi-backed governance token to achieve more for the Chainlink supporters. It’s a modified version of the YFI tokens. It was announced through a Medium post dated August 7th, 2020. Yearn Finance Link is popularly known through its ticker symbol YFL. The maximum supply of YFV tokens has been capped at 15,750,000.įurthermore, among YFValue’s mission, we can find “insurance.” The goal is to use “an insurance treasury through contributions of the YFV team and community funds to engage and integrate an insurance protocol, such as Nexus Mutual, to further reduce risk on behalf of all YFV stakeholders.” Yearn Finance Link (YFL) The burning of the token is automated and happens fully on-chain. YFV token grants its holders a right of voting to control the rate of the supply and also the referral system. Now, the question arises – does YFV have any unique feature? It indeed does. They want to make yield farming more inclusive to achieve their mission of accessibility: “Bring farming to everyone.” They aim to make yield farming accessible to all users worldwide. So, what’s the role of the YFV token? It acts as a governance token of the YFValue protocol. It was announced on August 16th, 2020, through a Medium post. YFValue, denoted by YFV, is a fork of YFII. However, the YFII token is doing quite well today, and its recent ATH was $6000. Hence, Balancer had blacklisted the token. The initial perception of YFII was that it is a scam. The maximum supply of YFII has been capped at 40,000. In other words, the YFII project has a 98% code similarity with the YFI project. Therefore, the YFII fork has been created, implementing the halvening proposal. The YFII fork has been created because a governance vote for YFI wanted to introduce weekly halvening to the project, referred to as the YIP-8 proposal. The YFII token is the hottest currency today in the Chinese DeFi ecosystem. YFII was forked by the crypto community of China from YFI. To maximize profits, the Yearn protocol continuously rebalances as yield-farming opportunities shift. So, you only have to stake tokens once with Yearn to get access to many interest-yielding blockchain protocols. Yearn solved this problem by integrating many different blockchain protocols. Using the Yearn project, users didn’t have to flip through multiple DeFi sites to get yield farming profits. Why was this so revolutionary? Before yield farming got mainstream, users had to stake individually with each protocol, having to learn about many projects. This is made possible by allocating the capital to staking pools offering the best returns across the network. Yearn Finance is a DeFi platform where users can deposit and stake their ERC20 tokens. However, yEarn has a few more capabilities added to its arsenal. You can look at yEarn as the first professional attempt at creating a yield farming project. Going further, iEarn was rebranded as yEarn by Andre Cronje. Yearn Finance began its operations in February 2020 with another project known as iEarn Finance. Let’s learn what’s unique about each project and why it has been created? If you are not very familiar with yield farming, check out our detailed guide on yield farming. This article takes a look at all the different Yearn Finance projects and forks. At the moment, there are 29,968 YFI tokens in circulation already, according to CoinMarketCap. The maximum supply can never exceed 30,000 YFI tokens. The YFI token attained highs of over $38,000 in August and even peaked above $43,000 in mid-September 2020.ĭo you know what’s the difference between the YFI project and other majority governance tokens in DeFi? Scarcity! Yes, there’s a very limited supply of YFI tokens. It broke Bitcoin’s record of the all-time high in terms of USD prices. ![]() Have you heard about Yearn Finance’s YFI token? It acts as a governance token for its decentralized finance platform.
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