Yearn.finance is a decentralised finance (DeFi) protocol designed to serve as a yield aggregator, simplifying and automating the process of yield farming. By reallocating funds dynamically across various DeFi lending protocols, such as Compound, Dydx, Curve, and Aave, it optimises returns for its users.
Yearn.finance operates on the Ethereum blockchain, utilising smart contracts to automate yield farming strategies. It leverages Ethereum's Proof of Stake (PoS) consensus mechanism. The protocol uses algorithms to rebalance funds across multiple DeFi platforms to maximise annual percentage yields (APY). Smart contracts deployed on Ethereum carry out these tasks, with the platform's technical insights available through its documentation and GitHub repository.
Yearn.finance presents several use cases such as:
Yearn.finance, founded by Andre Cronje, launched in February 2020 as a project developed independently without prior funding. It rapidly expanded, managing over $3 billion in total value locked by November 2020, and evolved into a suite of DeFi services. Key features include Vaults, Earn, Zap, and Cover. The platform continues to innovate and collaborate with other projects to enhance its offerings.
The yearn.finance price is $13041.62 AUD, representing a -0.86% from the day prior.
The best place to buy yearn.finance (YFI) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell yearn.finance (YFI) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
The trading volume of yearn.finance (YFI) is $29.3M AUD in the last 24hrs, representing a -0.86% from the day prior.
yearn.finance (YFI) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
The current market cap of yearn.finance (YFI) is $437.7M AUD.
Yes - With Coinstash you can convert your yearn.finance (YFI) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
The current circulating supply of yearn.finance (YFI) is 33.6K.
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling yearn.finance (YFI) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.