yearn.finance Reaches Market Capitalization of $1.73 Billion (YFI)

yearn.finance (CURRENCY:YFI) traded up 17% against the dollar during the 1-day period ending at 17:00 PM ET on April 8th. One yearn.finance coin can currently be purchased for $47,105.69 or 0.81579547 BTC on exchanges. yearn.finance has a total market capitalization of $1.73 billion and approximately $673.02 million worth of yearn.finance was traded on exchanges in the last day. Over the last week, yearn.finance has traded up 28.1% against the dollar.

Here is how similar cryptocurrencies have performed over the last day:

  • XRP (XRP) traded up 11.5% against the dollar and now trades at $1.02 or 0.00001764 BTC.
  • Tether (USDT) traded up 0% against the dollar and now trades at $1.00 or 0.00001734 BTC.
  • Polkadot (DOT) traded 3% higher against the dollar and now trades at $40.70 or 0.00070483 BTC.
  • Filecoin (FIL) traded 1.4% higher against the dollar and now trades at $151.45 or 0.00262292 BTC.
  • Klaytn (KLAY) traded 0.3% lower against the dollar and now trades at $3.16 or 0.00005467 BTC.
  • Kusama (KSM) traded 6.9% higher against the dollar and now trades at $454.80 or 0.00787647 BTC.
  • Bitcoin BEP2 (BTCB) traded 1.9% higher against the dollar and now trades at $57,486.91 or 0.99558169 BTC.
  • KnoxFS (old) (KFX) traded 4.3% higher against the dollar and now trades at $19.25 or 0.00049793 BTC.
  • THORChain (RUNE) traded up 9% against the dollar and now trades at $9.96 or 0.00017255 BTC.
  • Wrapped BNB (WBNB) traded up 8.8% against the dollar and now trades at $408.96 or 0.00708260 BTC.

yearn.finance Coin Profile

yearn.finance’s launch date was July 17th, 2020. yearn.finance’s total supply is 36,666 coins and its circulating supply is 36,635 coins. yearn.finance’s official message board is medium.com/iearn. yearn.finance’s official Twitter account is @iearnfinance. The official website for yearn.finance is yearn.finance.

According to CryptoCompare, “Yearn Finance is a suite of products in Decentralized Finance (DeFi) that provides lending aggregation, yield generation, and insurance on the Ethereum blockchain. The protocol is maintained by various independent developers and is governed by YFI holders. Core Products: Vaults:Capital pools that automatically generate yield based on opportunities present in the market. Vaults benefit users by socializing gas costs, automating the yield generation and rebalancing process, and automatically shifting capital as opportunities arise. Earn:The first Yearn product was a lending aggregator. Funds are shifted between dYdX, AAVE, and Compound automatically as interest rates change between these protocols. Users can deposit to these lending aggregator smart contracts via the Earn page. Zap:A tool that enables users to swap into and out of (known as “Zapping”) several liquidity pools available on Curve.Finance. These pools benefit from the lending aggregators discussed above, as well as earning users trading fees by partcipating as Liquidity Providers (LPs) on Curve.Fi. Currently users can use five stablecoins (BUSD, DAI, USDC, USDT, TUSD) and “Zap” into one of two pools (y.curve.fi or busd.curve.f) on Curve. Alternatively, users can “Zap” out of these two Curve pools and into one of the five base stablecoins. Cover:Insurance that enables users to obtain coverage against financial loss for various smart contracts and/or protcols on the Ethereum blockchain. Cover is underwritten by Nexus Mutual. Governance:The Yearn ecosystem is controlled by YFI token holders who submit and vote on off-chain proposals that govern the ecosystem. Proposals that generate a majority support (>50% of the vote) are implemented by a 9 member multi-signature wallet. Changes must be signed by 6 out of the 9 wallet signers in order to be implemented. The members of the multi-signature wallet were voted in by YFI holders and are subject to change from future governance votes. “

Buying and Selling yearn.finance

It is usually not currently possible to buy alternative cryptocurrencies such as yearn.finance directly using U.S. dollars. Investors seeking to trade yearn.finance should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy yearn.finance using one of the exchanges listed above.

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