YFII Finance
Name
YFII Finance
Summary
-DFI.Money (YFII) is a Decentralized Finance (DeFi) platform aimed at building products based on aggregated liquidity provision, leveraged trading, automated marketing making, and more.
-DFI.Money (YFII) was launched in July 2020.
-It automatically configures the financial smart contract platform with the best DeFi mining revenue in the market after one click transferring assets to the account. Itoken can join DeFi LEGO continuously.
Rating
Symbol
YFII
Overview
DFI.Money is a fork of yearn.finance that implemented a previous YIP8 proposal that was rejected by the YFI owner. With the implementation of YIP8, DFI.Money's token, aptly named YFII, is going through half of its weekly release schedule. Similar to yearn.finance and its YFI token, DFI.Money is a collection of different lending protocols that automatically transfer user deposits to the lending pools with the highest yields. Its YFII is used for governance on the network and is distributed through participation in voting and provides liquidity on Curve or Balance.
Historical Price Movement (in INR)
Technology
The YFII platform provides profitable farming pools that provide tokens. In short, placing one token in the pool earns you another token as a reward. Therefore, the platform offers two such pools and earns YFII by staking CRV and BAL tokens.
The Curve.fi platform’s governance token is CRV, and the Balancer platform’s governance token is BAL. YFII tokens are earned by providing liquidity to any of these pools using either CRV or BAL tokens.
YIP8 advocates a different token issuance strategy, comparable to Bitcoin's halving plan, unlike the previous protocol by Yearn Finance. The YFII platform was born from this suggestion. According to the bitcoin halving model, the number of bitcoins allocated to miners is halved every 4 years, until nearly all of the coins are mined.
This model aims to maintain scarcity, preventing the creation of assets indefinitely. Similarly, the YFII platform offers a weekly halving method in which newly contributed tokens are halved every seven days to ensure fair distribution to the community.
Vaults use a Proof of Deposit consensus. Proof of Deposit use set of tokens known as iTokens which are interest-bearing tokens that users receive upon depositing funds into vaults.
Use of Native tokens in the ecosystem:
Yearn Finance II (YFII) is a decentralized finance (DeFi) yield farming platform that allows users to determine the products they need and enjoy the yield.
Volume ( as of 16th May 2022)
$18,515,786
Total Supply
39,375 YFII
Circulating Supply
38,596.00 YFII
Crowd Sales
N.A.
Country
N.A.
Year Incorporated
N.A.
Registered Address
N.A.
Dispute Resolution and Governing Law
N.A.
Country Risk Assessment
N.A.
Founding Team
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