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When was yfi issued (yfii issuance)?

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yfi was issued on what date? Editor\’s Note: This article is from据,Odaily星球日报and

When was yfi issued (yfii issuance)?

yfi was issued on what date? Editor’s Note: This article is from据,Odaily星球日报and is authorized to be reproduced.

Andre Cronje (AC), the founder of decentralized finance protocol Yearn, recently tweeted about when yfi was issued. He explained that yfi is a token developed based on the Ethereum ERC-20 token standard, which can be used as collateral to deposit and borrow other types of assets. However, since it does not support deposits or loans of any asset category, users need to transfer tokens such as ETH, DAI, and USDT from a smart contract, and then send them to a contract address for collateral, in order to mint new YFI in exchange for new YFI. This feature is called “locking liquidity mining.” According to official information, this mechanism uses an “automated market maker” (AMM) model, which allows traders to borrow assets and generate interest income when the market price falls to a certain level. As the demand for DeFi products in the market continues to increase, this mechanism has become more effective. In this case, users can provide stable income to DeFi by collateralizing their cryptocurrencies. However, if there is no liquidity, users cannot redeem their assets and can only earn interest on the held crypto assets.

Therefore, users can participate in liquidity mining without any fees. For example, you can inject 100 ycrv (or 10,000 coins) into Compound with USDC or USD without any cost. You can also pay the annual interest rate with yCRV or DAI, and these funds will not be deposited into any wallet. If you want to buy yCRV tokens, you can choose to use Compound Finance, which is a secure and scalable DeFi platform. Currently, Compound Finance is launching an algorithmic stablecoin vault, which allows people to generate stablecoins and other synthetic crypto tokens in various ways. This makes stablecoins become a kind of securities.

yfi has attracted attention in the past few months. On August 10, yearn announced that it would return governance to the community. yearn has voted on how to manage the protocol. On September 15, a new DEX called SushiSwap was deployed on Uniswap, and its stablecoin project was also launched. This project received YFI token airdrops initiated by community members. (https://medium.com/decentralized-finance-yfi)yfidapps.io shows the distribution of yfi tokens as shown in the figure below:

yfido.eth on yfidapps.io

The allocation ratio of yfidApp is shown in the figure below:

The allocation ratio of yfidApp is shown in the figure below:

The total supply of YFI is 100 billion, of which 80% belongs to YFI stakers. The remaining 20% is distributed to liquidity pool providers.

yfii issuance

On August 18, DeFi yield aggregator yfii announced its issuance (YFI). As of 10pm on August 19, the total issuance was 43 million. The project has completed the second round of financing, with a financing scale of about $50,000, and the specific amount has not been disclosed.

It is understood that yearn.finance is an Ethereum-based yield farming protocol that allows users to earn 10% to 20% annual rewards and governance tokens YFII by providing liquidity. yFIII can be used as collateral to obtain YFII. Currently, YFII is available on Compound and Uniswap, and the platform will deposit YFII into the yfII pool.

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