Yearn.Finance (YFI) Yearn.finance is an aggregation service for decentralized finance (DeFi) investors, using automation to enable them to maximize profits from yield farming. Its goal is to simplify the ever-expanding DeFi space for investors who are not technically minded or who want to interact in a less demanding way than serious traders. Launched in February 2020, the service, formerly known as iEarn, has seen tremendous growth in recent months with the debut of new products and the launch of internal YFI tokens by developers. Who are the founders of Yearn. Finance?Yearn .finance was born from an idea by Andre Cronje. After leaving the iEarn project in February 2020, Cronje has returned to oversee a renaissance, with new tools appearing and YFI launching in July. Since then, his fortunes have changed, with assets under total frozen value reaching just over $1 billion at the end of September 2020. Cronje has a long career in cryptocurrencies and has notably become synonymous with DeFi. He also has positions in the Fantom smart contract ecosystem and CryptoBriefing, a resource dedicated to Initial Coin Offerings (ICOs) and crypto media. What makes Yearn.Finance unique? broader investment sector. The platform uses various bespoke tools to act as an aggregator for DeFi protocols such as Curve, Compound, and Aave, offering cryptocurrency bettors the highest return possible. New features continue to be implemented, these with the goal of, among other things, helping preserve the long-term value of the platform. Yearn.finance makes a profit by charging withdrawal fees, currently 0.5% as of end of September 2020, as well as 5% gas subsidy fees. Thanks to its governance model, these can be technically modified by consent at any time. The target market for yearn.finance is investors who do not have time to study the increasingly complex DeFi phenomenon from scratch, or who want to optimize their returns. Related Pages: Learn more about Harvest Finance (FARM) here. Find out everything you need to know with Alexandria, CoinMarketCap's dedicated educational resource. Check out the CMC blog for more information on YFI. How many Yearn.Finance (YFI) coins are in circulation? The Year.finance YFI internal token has a fixed supply of 30,000 coins. There was no premining at launch in July 2020, and the developers received no seed funding; total supply at launch was 0 YFI. Since then, most of the limited supply has entered circulation and the success of the token is reflected in its all-time high price of $41,000, which it reached in mid-September 2020. YFI was also the first cryptocurrency to be worth more than Bitcoin ( BTC) per unit. Yearn.finance users earn YFI by providing liquidity, while token holdings dictate governance privileges. How is the Yearn.Finance network protected? Yearn.finance users may face a high risk of losing money due to to rapidly changing market conditions and opportunistic entities trying to profit from less experienced participants. Cronje himself has tried to maintain transparency about the provenance of the platform, noting that even after code audits, yearn.finance cannot be guaranteed to be 100% secure: DeFi carries inherent risk. (YFI) YFI is a truly tradable token, with pairs of cryptocurrencies, stablecoins, and fiat currencies all widely available. Major YFI trading exchanges include Binance, OKEx, and Huobi Global, as well as Uniswap (Automatic Market Maker) (AMM). Are you new to the cryptocurrency industry and want to know how to buy Bitcoin (BTC) or any other token? Find out the details here.