Buy Yearn Finance (YFI), it’s easy!

What is Yearn Finance?

Yearn Finance is one of the 10 largest DeFi platforms in the world. Andre Cronje, its founder, managed to achieve this within a year of its launch. Yearn Finance is a protocol that optimises the profits generated through yield farming, i.e. freezing cryptocurrencies in all those blockchain protocols that provide periodic rewards. Simply deposit your cryptocurrencies into a Yearn Finance feature and you’ll get the best yield percentage available among all DeFi’s services.

Why buy Yearn Finance?

YFI, the Yearn Finance token, has no utility outside of project governance. However, it has gone from being worth around $14,000 to $40,000 in twelve months, hitting an all-time high of $93,000 in May 2021. Since it has no other applications beyond the project, its exponential growth can be attributed to a number of indirect factors, primarily the maximum supply of 30,000 tokens. YFI also boasts a very active and large community, thanks to the transparency and meritocracy that have characterised the project from the outset.

How was it created?

The Yearn Finance protocol was created by Andre Cronje, and officially released in 2020. Interestingly, Cronje did not reserve any coin for himself when Yearn was launched. The project also did not accrue any investment.