Review on yearn.finance II by Azad Aliyev

What is Yearn.finance (YFI)?

yearn.finance is a Decentralized Finance (DeFi) platform that aims to build products on bulk liquidity, leveraged trading, automated marketing and more.

YFI token is the native utility token on the yearn.finance platform. Users can earn it by contributing liquidity to yearn.finance's bulk liquidity pool or ypool and use the token for platform governance.

Yearn.finance currently provides profit optimization service for lenders, independently moving providers funds between dYdX, Aave and Compound for the highest returns.

The platform also plans to launch products like yVault along with additional revenue earning strategies for other projects like Synthetix, mStable and more.

What is YFI Coin?

In the summer of 2020, Cronje introduced its new and rebranded one-year resume.

It would decentralize control of Yearn.finance by distributing 30,000 YFI tokens, which it said had no value, even if the market would have thought otherwise.

Yearn.finance would continue its mission of automating returns, using a set of complex strategies devised by itself and other Yearn.finance developers, with a concept it calls “crates” to make it as simple as depositing tokens to earn returns.

30,000 YFIs will be distributed over several days of yield farming, where users can risk Curve Y Pool LP tokens to earn more YFIs.

Additional pools required staking by providing liquidity on the Balancer and staking the LP token to initiate liquidity for this newly minted YFI token .

YFI, the management token of Yearn.finance, was ultimately distributed only to liquidity users. With no pre-mining, pre-sale, and team allocation, YFI has set a standard for the most decentralized token launch. While most of the ecosystem was created by Cronje, control of YFI was transferred to a multi-signature wallet that required 6 out of 9 participants to agree on the changes.

The result is one of the most epic stories in DeFi. YFI became the fastest asset in history to exceed $1 billion in market capitalization, including staking and other asset classes. yVaults allowed users to deposit tokens like DAI, USDC, ETH and even Aave interest-bearing tokens like aLINK. Additionally, yVaults are designed to allow deposits of popular LP tokens such as Curve Y Pool and Curve sBTC Pool.

Yearn has leveled the playing field for DeFi beginners and DeFi professionals. It took the power of some trading firm, automated it, and made sure everyone on Ethereum benefited from it.