What type of currency is YYFI (what is the price of yfi)
YYFI is a decentralized protocol based on Ethereum issued by yearn.finance. The
YYFI is a decentralized protocol based on Ethereum issued by yearn.finance. The platform uses the contract programming language Solidity, allowing users to create and destroy tokens, trade, and call smart contracts on the protocol. According to information released by the project, YYFI has received investments from multiple institutions including HuobiGlobal and OKExChain. YYFI is a decentralized financial application that is fully compatible with ETH (ERC20). It is operated by a network manager called “liquidity mining” and solves the low-yield problem in DeFi by providing impermanent loss protection (CryptoPotato).What is the price of yfi? Yfi is a coin associated with yearn.finance, a decentralized lending protocol. It is based on the Ethereum blockchain and serves as the governance token for the platform. Its goal is to provide liquidity for DeFi and support services such as uncollateralized loans, stablecoins, and yield farming.According to official information, the current annual interest rate is 5.6%, ranking first in locked funds, with a market value of $200 million, ranking 8th. Additionally, the project has introduced governance features that allow the community to vote on protocol changes.
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