Why buy Yearn Finance (YFI)?
You might want to buy Yearn Finance (YFI) because it is the token of one of the most popular DeFi platforms. Although it lost some ground during the last bear market, it is still part of the 30 most used decentralised applications.
Yearn Finance (YFI) skyrocketed in 2021, when it went from being worth around $14,000 to $40,000 in twelve months, hitting an all-time high of $93,000 in May. Its exponential growth can be attributed to a number of indirect factors, chief among them the fact that it has a maximum supply of 30,000 tokens. YFI also boasts a very active and large community, thanks also to the transparency and meritocracy that have characterised the project from the outset, one more reason to consider buying Yearn Finance (YFI).
What it is and how it came about
Yearn Finance is one of the 30 largest DeFi platforms in the world. Andre Cronje, its founder, managed to reach the top 10 of the market within a year of its launch. His is a protocol that optimises the profits generated through yield farming, i.e. the use of cryptocurrencies in all those blockchain protocols that allow for periodic rewards. Simply deposit your cryptocurrencies in a Yearn Finance feature to get the best yield percentage available among DeFi’s services.
The protocol was created by Andre Cronje, and was officially launched in 2020. What is special about the launch is that Cronje has not reserved any tokens for himself, all reserved for the passionate and cohesive community.
In short, you can think about buying Yearn Finance (YFI), because it has what it takes to climb the rankings of the most capitalised cryptos again.
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