Yearn Value, which has a ticket of YFV, aims to bring the true value of yield farming finance to all users via its unique set of rules including its inflation rate. Yearn Finance fork, YFII, has also enjoyed a fruitful week of price action with it rising to as high as $9,500 from a monthly close of $1,031. The YFI token has risen dramatically over the past month, reaching a high of $40,000 per token despite trading well below $1,000 just two weeks ago. It works by allocating capital to the most rewarding staking pools across the network, thus giving users the best returns. Yearn Finance (YFI) is a platform that lets users deposit and stake their erc-20 tokens in order to receive daily interest. Some of the top performing erc-20 tokens have been Yearn Finance and its subsequent forks, YFII and YFV, although notable mentions also need to go out to projects like Sushi. The concept of staking newly-formed, illiquid tokens to earn interest may seem strange to newcomers, but it’s a trend that has arguably caused Ethereum’s tremendous rally to a two-year high of $485.
Get on my level.” He tweeted last night alongside an image of the new Kimchi protocol, which allows users to stake Uniswap tokens to earn interest. In a fortnight that has been eerily similar to the first few months of 2017, leading cryptocurrency influencers, investors and even exchange owners have been touting the best way to navigate this bizarre, DeFi-fuelled bull market.īitMEX CEO Arthur Hayes seems to have forgotten he is running a derivatives exchange that facilitates billions of Dollars worth of volume in the past few weeks, deciding to tweet out his journey in the immature yield farming sector. The cryptocurrency bull market is here and it’s time to decipher the difference between Yearn Finance (YFI) and its many forks.
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