What is Yearn Finance? ($YFI)
Yearn Finance is an ethereum-based network of decentralized finance (DeFi) protocols. The decentralized project was launched in the summer of 2020 and is notable for a very unique feat within the growingly competitive DeFi space, especially for a DeFi ecosystem with decentralized investing and other desirable features.
The Yearn Finance ecosystem was launched without the funding assistance of any private investors or venture capitalists. The Yearn Finance founder, Andre Cronje held no private funding rounds, and reserved no tokens for himself prior to launch of the Yearn Finance decentralized ecosystem. This makes the foundations and creation of the network quite unique. The Yearn Finance cryptocurrency is known by its ticker - $YFI.
About Yearn Finance cryptocurrency $YFI
$YFI is used in the variety of DeFi mechanisms available to users of the Yearn Finance decentralized network. Yearn interacts with contracts which run on the Balancer and CURVE networks. $YFI is earned by users on the network for decentralized finance applications related to the networks, all based on the Ethereum mainnet.
$YFI was launched in July 2020. Other aspects of its protocol interact with the AAVE and Compound ecosystems, also supported by the Ethereum network. Firstrade customers are able to buy Yearn Finance ($YFI) and many other available cryptocurrencies on Firstrade cryptocurrency trading platform.
More about Yearn Finance ($YFI)
Yearn Finance offer $YFI token holders incentives for various opportunities to interact in network activities involving the network of Yearn protocols running on multiple Ethereum-based DeFi networks. The seemingly rather pure DeFi mission considered to be exemplified by Yearn Finance has so far been embraced by the crypto community.
$YFI typically ranks around the top 100 of traded cryptocurrencies. Firstrade now allows customers to buy and sell cryptocurrency (no live link for now) - including Yearn Finance.
Learn more about Yearn Finance ($YFI) and check the most current cryptocurrency prices on Firstrade.