At the time of this report, Yearn.finance traded at $39,878 with a 24 daily trading volume of $680,002,304. YFI price is up by 7.4% in the last 24 hours. Buyers have gained a whopping 125322.3% when the price was $31.65 on July 18th, 2020.
It has a circulating supply of 30 000 coins, and a max supply of 30 000 coins.
READ: Investors are rushing in, as Crypto market’s capitalization hit a two-year high
Nairametrics has been tracking the price of the world’s most expensive crypto, ever since it breached the $25,000 price level a few weeks ago, as investors pour funds into this fast-growing lending aggregator. On Saturday, Messari, a crypto analytic firm, via its twitter feed showed $YFI making weekend moves, retesting $38K
$YFI making weekend moves, retesting $38K pic.twitter.com/aj2r9Kci9M
— Messari (@MessariCrypto) September 12, 2020
What you must know: There are multiple protocols providing yield (returns) on the capital that you lend. These yields vary from one protocol to the next. YFI automates & optimizes lending, such that you can earn maximum value on your capital without researching each protocol.
READ: Bitcoin whale transfers 11,230 BTC worth $116 million
With the launch of the YFI governance token, assets under management skyrocketed from $10 million in mid-July to $830 million today. It has two major uses:
Lend your digital assets: Earn maximum interest among a pool of lending protocols such as Compound, Aave, et. al.
Vaults: Lend your digital assets to yield farming strategists (think hedge fund managers), who deploy advanced strategies, leveraging liquidity mining tokens to maximize returns.
Yearn.Finance’s advantage over Bitcoin: With a mere 30k token supply making it more scarce than even Bitcoin, and a provably fair launch, $YFI is the hardest money the world has ever known.
Andre Cronje created yEarn Finance to automate the process of manually moving funds between DeFi money markets, to secure the best lending rate. iEarn Finance, as it was then called, was released to the public. What started as a yield aggregation instrument, evolved into a platform that supported automated liquidity mining strategies.
