YFI Price today

Yearn.Finance is a decentralized ecosystem built on Ethereum that allow users to optimize their earnings on crypto assets through lending and trading services. Year.Finance acts as a digital bank that provides lending aggregation, yield generation and insurance on the Ethereum blockchain.

When users stake their assets into Yearn.Finance, these assets are converted into yTokens, and periodically rebalanced to choose the most profitable lending services. Yearn.Finance is the gateway to many other DeFi products. Yearn.Finance’s goal is to provide a set of tools that simplify the DeFi investment process and provide the highest possible return for investors.

YFI is the governance token of Yearn.Finance and is distributed only to investors who provide liquidity with yTokens. The development team is also not prioritized to receive any YFI. There are currently only 30,000 YFI tokens in the market and have been distributed. According to YFI documentation, this token can be further mined from governance.

To propose and vote on issues of token distribution, token supply, tokenomics, fees, YFI holders will have to stake YFI. Users who have staked YFI will also receive rewards for voting and participating in the governance of the network.