The protocol mainly focuses on the popular practice called ‘Yield Farming’ where users lock up their assets to earn more cryptos. The protocol offers VAULTS that allow the users to deposit their cryptocurrency and earn yields. ![]() YFI focuses on providing the highest yields(interest) on deposits of ETH or Stablecoins or any altcoins. And YFI is considered as one of the leaders of the DeFi space. DeFi came into mainstream trading for the fact that it showcased its potential to be a ‘Decentralized Bank’ offering similar products without the interference of any third party. It offers multiple products by which users can earn passive income with their crypto. ![]() It is a group of protocols that runs on the Ethereum blockchain that generates revenue using crypto assets. Yearn Finance popularly known as YFI is the brainchild of the popular South African programmer Andre Cronje. So what is YFI, what does it do, why does it gain such huge attention from the crowd? Let’s dive deep below! Introduction to Yearn Finance(YFI)-In Brief No doubt the current trend is a little shaky yet with the end of the consolidation phase, most of the assets do showcase huge potential to ignite a remarkable bull run and YFI may lead the race. However, the most popular DeFi token known for its gigantic run during the 2021 bull run is still expected to showcase its strength in the upcoming rally. It registers the highest ATH compared to all the other cryptocurrencies in the market including Bitcoin! Interesting Fact: Yearn Finance(YFI) is the only token that rose like a monster to hit the levels very close to $100K. However, very soon after the May 2021 crash, the DeFi tokens appear to have adopted a sideway trend as the NFT took over the market in a very short period. Moreover, following the YFI surge, many DeFi tokens also established their strong presence that further led to a DeFi boom in 2020. Due to the YFI price rally, the DeFi space gained huge user attention and adoption. ![]() Introduction to Yearn Finance(YFI)-In BriefĪre you a DeFi enthusiast? If yes, then you might be well aware of Yearn.Fiance(YFI).
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