Buy yearn.finance (YFI)
What is yearn.finance?
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.
How does yearn.finance work?
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.
What are the potential use cases for yearn.finance?
Yearn.finance presents several use cases such as:
- DeFi Yield Farming: Optimising yields across multiple DeFi protocols.
- Decentralised Governance: Allowing YFI token holders to vote on governance issues.
- Insurance and Risk Management: Providing risk mitigation through alliances such as with Cover Protocol.
- Liquidity Provision: Partnering with protocols to enhance lending, borrowing, and pool functionalities.
What is the history of yearn.finance?
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.
Related Assets
Resources
Learn More About yearn.finance
Frequently Asked Questions (FAQs)
What is the current price of yearn.finance (YFI)?
The yearn.finance price is $13041.62 AUD, representing a -0.86% from the day prior.
Where is the best place to buy yearn.finance (YFI) in Australia?
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.
What is the daily trading volume of yearn.finance (YFI)?
The trading volume of yearn.finance (YFI) is $29.3M AUD in the last 24hrs, representing a -0.86% from the day prior.
How can I buy yearn.finance (YFI)?
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.
What is the market cap of yearn.finance (YFI)?
The current market cap of yearn.finance (YFI) is $437.7M AUD.
Can I convert yearn.finance (YFI) to cash?
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.
How many yearn.finance (YFI) are there?
The current circulating supply of yearn.finance (YFI) is 33.6K.
Is Coinstash a safe place to buy yearn.finance (YFI) in Australia?
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.