yearn.finance Price for today is $23459.495. Its current circulating supply is YFI 30,000 with a market cap of $703,024,477.73.
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Yearn.finance is one of the most decentralized projects in the DeFi space and is commonly known as the Bitcoin of DeFi. The project is the brainchild of an equally exciting individual. It was founded by Andre Cronje, who dropped out of law school and studied a 3-year computer science program in 6 months. The ecosystem is built on Ethereum and eases interaction with top DeFi protocols.
The goal is to maximize the percentage yield of the cryptos that investors put into DeFi. Mostly the protocol shuffles funds between protocols like Aave and Compound to maximize returns. The ecosystem is community-driven, and governance is done using the YFI token. YFI is an ERC-20 token that has a maximum supply of 30,000. The project had no ICO, and there was no pre-mine.
To acquire this token, one can either offer liquidity to any of the Yearn platforms and earn or buy at a Yearn.finance converter like ChangeNOW, where you can perform YFI exchange hustle-free. There is not much documentation about how the protocol works but it is quite easy to understand. The protocol moves funds in stable coins between Aave, Compound, and several other DeFi projects, depending on which one generates the highest returns.
Some of the stable coins that it supports include USDT, DAI, SUSD, and TUSD. The fact that it is community-governed means that the cryptocurrencies it supports can always change over time to meet community needs.
One of the critical defining features of Yearn.finance is its decentralized governance. For any changes to be made on the project, proposals are made, and then a vote is taken. For any proposals to be available for voting, 33% of token holders should be in agreement.
Sometimes you need a way to exchange Yearn.finance to other coins, or cash. The transaction can be for trading, or to get money for whatever reason. To convert YFI, you need a service that is fast, easy to use and has low fees. Try using ChangeNOW.io as your personal YFI converter as it offers all of that, and you can exchange YFI without registration and with no upper limit.