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Yearn Finance (YFI) has plunged rapidly following the surprise exit of its key players. The cryptocurrency which had been following the market trend had broken off the step with the rest of the space as the news sent ripples through the community. The plunge which occurred on Sunday came as
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Famous for his motto “I test in prod”, Andre Cronje, inventor of Yearn Finance and other DeFi protocols, will launch a new platform. Called ve(3,3) it has been designed as an Automated Market Maker (AMM) to operate with a “protocol for protocols” architecture. Related Reading | Solana DeFi Goes Stratospheric as
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First a MakerDAO lobbyist, now a Yearn candidate.As regulatory stormclouds gather over Washington and crypto advocates seek to obtain a louder voice in U.S. politics, one Yearn.Finance developer is running for Congress on a pro-crypto platform.That said, he may need the decentralized finance (DeFi) community’s help if he hopes to
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Yearn Finance’s governance token YFI reached a new milestone on Friday as its price crossed over the $50,000-mark for the first time in history. The gains appeared as Grayscale Investments, a New York-based cryptocurrency management firm, registered an LLC for a prospective Yearn Finance Trust. That prompted traders to raise their
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News of the hack caused the Yearn’s native currency YFI to fall by around 15%, from $35,000 to just under $30,000On February 5, Yearn Finance confirmed that their V1 yDAI vault has been exploited by a hacker. The DAI vault lost $11M with the hacker making away with $2.8M of
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The amount taken is unclear but Yearn shows percentage losses for the DAI vault in the triple digits. Source
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The Yearn Finance community has been discussing expanding the supply of YFI as a way to compensate the decentralized finance (DeFi) platform’s de facto staffers. The vote went live on the web app Snapshot on Jan. 28 and ended today at 18:00 UTC (1 p.m. ET).There’s a total of 30,000
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Bitcoin may be the original cryptocurrency, but that doesn’t mean leading decentralized finance (DeFi) projects aren’t feeling self-confident enough to distinguish themselves from Satoshi’s vision.“Let’s not be Bitcoin. This idea of hard caps for start-ups is very romantic but not necessarily the best execution path for maximal value,” a participant
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Quick take:The supply of Yearn Finance (YFI) is 700 times lower than that of BitcoinLike Bitcoin, YFI is valued at the $30k area with a current value of $32,300The project has lately merged or partnered with several DeFi projectsYearn Finance is a DeFi project to watch moving forwardThe digital asset
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