DFI.Money – YFII Token
DFI.Money (YFII) is an Ethereum token that governs the DFI.Money platform. The platform is a fork of Yearn.finance and acts as a yield optimizer for tokens deposited to the platform.
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What Is Yearn Finance II (YFII)?
Yearn Finance II (YFII) is a decentralized finance (DeFi) yield farming platform that allows users to determine the products they want and enjoy the yields. The platform is now known as DFI.Money and acts as an aggregator that automatically puts users’ digital assets to work for high-yield profits. YFII project is a fork of Yearn Finance (YFI), a decentralized finance platform implemented through Yearn Improvement Proposals (YIPs). Essentially, when a community votes to make changes in the blockchain protocol, a fork takes place. Yearn Finance II, or YFII For Innovative Investment, was formed to protect the protocol design from being spoiled by whales (big manipulators) when a community decision got rejected in YIP-8.
Contrary to the earlier protocol at Yearn Finance, YIP-8 proposed a different token emission model, one that is similar to the Bitcoin halving model. This proposal was the genesis of the YFII platform. According to the Bitcoin halving model, the number of Bitcoins issued to miners is cut in half every four years until all coins have been virtually mined. This model is designed to maintain a scarcity that will stop an endless creation of the asset. Likewise, the YFII platform proposes a weekly halving model, meaning the newly added tokens are reduced to half every seven days to facilitate a fair distribution to the community.
According to YFII’s platform, the vault is a standout offering for retail traders. YFII’s vault is a farming pool aggregator that uses a set of strategy contracts to let traders earn a better APR (annual percentage rate), a measure to represent crypto returns. Essentially, the traders deposit the token supported by the platform and receive the reward that the strategy farms automatically. The vault offers a decentralized mechanism that lets anyone write strategies and implements the one with the most votes. In addition, the vault aims to cut down the gas or transaction fee as traders deposit and withdraw the tokens.
Further, vaults use a proof-of-deposit set of tokens called iTokens. These are interest-bearing tokens that users receive upon depositing funds into vaults. In a general sense, proof of deposit serves as a mode of verification between lenders and borrowers. For instance, a deposit of XY into the vault will yield iXY, which is interest bearing. Interestingly, the user does not have to withdraw their principal amount from the vault when they require funds, as they can opt to exchange their iTokens directly. Also, these interest-bearing tokens can be used as collateral for debts and staked in the DeFi space. Thus, these iTokens aim to prevent the outflow of funds from entering the YFII platform’s vault and provide users with a straightforward method to engage in YFII’s operations.
YFII token is a community-driven Ethereum-based ERC-20 token. According to the YFII documentation, there were no ICO, pre-mining, or developer team rewards for the token. This community governance token aims to be the key to the diverse DeFi ecosystem’s farming yields. As a primary objective, the YFII token seeks to provide liquidity to the pool, the sole method to obtain YFII tokens. Further, the YFII community utilizes the token for income allocation and voting in the ecosystem.
Why Was Yearn Finance II Created?
The fork, Yearn Finance II or YFII, was formed in July 2020 due to a rejected proposal of erstwhile Yearn.Finance. The community created the platform to protect the idea of its initiator, Andre Cronje, from being manipulated by other traders. The CRV and BAL (crypto tokens) pools opened on July 27 and July 28, 2020, respectively.
How Are YFII Tokens Created?
The YFII platform has pools that supply tokens through yield farming. To restate, in yield farming, staking one token into the pool grants another token as a reward. Accordingly, this platform offers two such pools and earns YFII by staking CRV and BAL tokens. CRV is the governance token of the Curve.fi platform, and BAL is the governance token of the Balancer platform. Providing liquidity to any of these pools using either CRV tokens or BAL tokens earns YFII tokens.
How Many YFII Tokens Are There?
According to the YFII documentation, there is a total supply of 40,000 YFII with 20,000 tokens in each pool. The platform seeks to distribute the tokens ten weeks following the launch date, starting with 10,000 tokens.
What is Cryptocurrency? A Comprehensive Guide for Beginners
Cryptocurrency is digital or virtual currency that utilizes cryptography for security. It is not issued or backed by any government or central bank, meaning it exists outside traditional monetary systems. Cryptocurrency is arguably the most revolutionary financial technology of the digital age, and it has the potential to revolutionize how money is created, stored, and exchanged. It is quickly becoming a popular investment option among investors across the globe. In this comprehensive guide, we will help you understand the basics of cryptocurrency, and how you can use it to your advantage.
What Is Cryptocurrency?
Cryptocurrency is a type of digital or virtual currency that is secured by cryptography. It is not issued or backed by any government or central bank, meaning it exists outside traditional financial systems. Cryptocurrency is exchanged between individuals and can be used to transfer funds or make payments without the use of a traditional third party, such as a bank. All transactions are recorded on a public ledger, known as a blockchain. Each cryptocurrency has its own blockchain, which is an auditable record of each transaction ever made.
What Are the Different Types of Cryptocurrency?
Currently, there are over 6,700 different types of cryptocurrency. The most popular cryptocurrencies include Bitcoin, Ether, Litecoin, Ripple, and Dogecoin. Bitcoin is the world’s first and most popular cryptocurrency, having launched in 2009. Ethereum is the world's second-largest cryptocurrency by market capitalization. Litecoin is a faster and cheaper version of Bitcoin, and Ripple is a network for real-time financial transactions. Dogecoin is used to reward users for contributing to online communities.
How Do You Acquire Cryptocurrencies?
There are several different ways that you can acquire cryptocurrency. The most popular way to acquire cryptocurrency is through exchanges. Exchanges act as middlemen between buyers and sellers, allowing you to purchase cryptocurrency with your local currency or other cryptocurrencies. You can also acquire cryptocurrency through peer-to-peer and decentralized exchanges, mining, and earning it as a reward for completing tasks on certain websites. Additionally, many financial institutions, such as banks, credit unions, and asset management firms, offer cryptocurrency investing services.
What Are the Advantages of Investing in Cryptocurrencies?
Cryptocurrency provides several advantages to investors, including decentralization, anonymity, security, and accessibility. Since the currency is decentralized, it is not controlled by any central authority, meaning all transactions are transparent and secure. Transactions can also be anonymous, as no personal data is stored on the blockchain. Additionally, since cryptocurrency is digital, it is available to people all over the world, regardless of geographical location. Furthermore, since cryptocurrency is not controlled by banks or other financial institutions, fees are generally lower than traditional money transfers.
What Risks Are Associated with Investing in Cryptocurrencies?
Cryptocurrencies are volatile, meaning prices can change rapidly. This is due to the fact that the cryptocurrency market is still in its early stages. Additionally, since cryptocurrency is not backed by any government or bank, they are not subject to any financial regulations. As a result, investors should do their own due diligence before investing, as there is always a risk of fraudulent or malicious activity. Furthermore, since the cryptocurrency market is still new, the technology is continually evolving, meaning there may be unexpected risks that arise in the future.
How Do I Get Started with Cryptocurrency?
The first step in getting started with cryptocurrency is to choose an exchange and create an account. Make sure to research and compare different exchanges to ensure that you are choosing a reputable and secure platform. Additionally, make sure to look into the fees and available payment methods. Once you have chosen an exchange, you will need to fund your account with either your local currency or cryptocurrency. Lastly, determine which cryptocurrency you would like to invest in and begin trading! Always do your own research and understand both the risks and rewards before investing.
Conclusion
Cryptocurrency can be an exciting and lucrative investment opportunity, but it is important to do your own research and understand the risks associated with this new technology. With the right knowledge and preparation, investing in cryptocurrency can be a rewarding and profitable experience. Start by determining which cryptocurrency you would like to invest in, and make sure to compare the different exchanges to find one that is secure and reputable. With the proper research, you can be well on your way to a successful journey in the cryptocurrency market!
Exchanges List. where To Buy
Name | Trust | Price | Link |
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YFII/USDT is down $955.40-3.34% as of 3:46 pm 07Sept2022 in just 1 hour on Pionex
#cryptocurrency #trading source
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The Clock Is Ticking For DFI.Money To Break Another Triangle Soon | YFII Price Prediction 2022
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02Sept2022 Buy/Sell YFII USDT is up $1,039.88+3.89% as of 1:46 pm in just 15 minutes
#cryptocurrency #trading source
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yfii dfi money price prediction | yfii coin price prediction | yfii dfi money today news | DFI.MONEY
yfii dfi money price prediction | yfii coin price prediction | yfii dfi money today news | DFI.MONEY source
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🚨 DFI.Money (YFII) Crypto Coin – Is It A Buy!? 🚨
#DFI.Money #YFII #CRYPTO Thank you for watching this technical analysis on YFII. How does the cryptocurrency perform to other altcoins?…
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🔴 Bitcoin Update | செப்டம்பர் மாதமும் மார்க்கெட் சரிவு தொடருமா? | RMRK, YFII, DNT, CELR Coin Anaysis
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YFII Next Target Today | YFII Price Prediction Today | Dfi Money | YFII | 30/AUG/2022|
YFII Next Target Today | YFII Price Prediction Today | Dfi Money | YFII | 30/AUG/2022| Follow on Telegram: –…
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ELON MUSK PRICE PREDICTION ON DFI money YFII
ELON MUSK PRICE PREDICTION ON DFI money YFII 2022! Crypto Adoption Continues To Grow! source
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DFI money YFII XTREME WARNING… THE FINAL SHAKEOUT IS ABOUT TO BEGIN
DFI money YFII XTREME WARNING… THE FINAL SHAKEOUT IS ABOUT TO BEGIN THEY are Selling His Stocks & The Reasons…
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YFII DFI.Money Coin Price Prediction (Price Pump & Update)
This video is about YFII DFI.Money Coin Price Prediction in which I discussed two levels of support on YFII DFI.Money…
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DFI money YFII hodlers!🚀 BUY BUY BUY🚀
DFI money YFII hodlers!🚀 BUY BUY BUY🚀Jeff Bezos going to accept Crypto!!🚀🚀 source
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The Clock Is Ticking For DFI.Money To Break The Triangle | YFII Price Prediction 2022
To join me at Patreon: https://www.patreon.com/posts/68403026 Here is the link for the Patreon trades success testimony for July 2022: https://www.patreon.com/posts/69738249…
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DFI money YFII BREAKING⚠️ SELL SELL SELL⚠️
DFI money YFII BREAKING⚠️ SELL SELL SELL⚠️ NO ONE IS EXPECTING THIS! source
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DFI money YFII This Is What's Going To Happen In Next 15 Days
DFI money YFII This Is What’s Going To Happen In Next 15 Days! The Crypto Market Needed a Capitulation But…
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BULLISH DAY FOR $YFII! | YFII CRYPTO PRICE PREDICTION & ANALYSIS 2022!
YFII CRYPTO PRICE PREDICTION 2022 🔥 JOIN THE CILINIX CRYPTO DISCORD! https://discord.gg/xQXDbycn6j 🥇📈 – Join the Fairdesk exchange now and…
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PRICE PREDICTIONS DYP, MONA, YFII, AVT
Disclaimer: This is not financial advice. These are my views and opinions only. And should only be viewed as such.…
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Waar Liggen De Kansen In De Crypto? Bitcoin BTC, ETH, MATIC, YFII, FET, SAND, ALGO, UNI & LOOM
Bedankt voor het kijken en abonneren! Bulls & Bears Crypto Requests met Bitcoin BTC, ETH, TRIAS, MATIC, ALGO, SAND, FET,…
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CEO BINANCE Confirmed DFI money YFII Is Next BITCOIN! PRICE PREDICTION 2022
CEO BINANCE Confirmed DFI money YFII Is Next BITCOIN! PRICE PREDICTION 2022! BULLISH! BIG NEWS FOR CRYPTOCURRENCY! source
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This Inverse Head & Shoulder Will Change Everything For DFI.Money | YFII Price Prediction 2022
To join me at Patreon: https://www.patreon.com/posts/68403026 Here is the link for the Patreon trades success testimony for July 222: https://www.patreon.com/posts/69738249…
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PRICE PREDICTIONS APE, JASMY, MONA, YFII, AND MORE
Disclaimer: This is not financial advice. These are my views and opinions only. And should only be viewed as such.…
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DFI money YFII 🚀SEPTEMBER 2022 will CHANGE EVERYTHING!🚀
DFI money YFII 🚀SEPTEMBER 2022 will CHANGE EVERYTHING!🚀⚠️MILLIONS of DOLLARS are COMING to CRYPTOCURRENCIES⚠️ source
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MONA, YFII, AVT PRICE PREDICTIONS
Disclaimer: This is not financial advice. These are my views and opinions only. And should only be viewed as such.…
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DFI money YFII HODLERS⚠️ WARNING 🚨ANONYMOUS🚨
DFI money YFII HODLERS⚠️ WARNING 🚨ANONYMOUS🚨⚠️THIS CHANGES EVERYTHING🚨 source
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23Aug2022 YFII/USDT live price update as of 6:34 am decrease 4.27% to $981.29 on WhiteBit
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PRICE PREDICTIONS DYT, EWT, MONA, YFII, AVT
Disclaimer: This is not financial advice. These are my views and opinions only. And should only be viewed as such.…
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DFI.MONEY – ПЕРВАЯ ЦЕЛЬ 10 000$! ЛУЧШИЙ DEFI ПРОЕКТ НА ТЕКУЩИЙ МОМЕНТ! СКОРО ПАМП! ПРОГНОЗ YFII 2022
В данном видеоролике обсудим DeFi проект yearn.finance (YFI): 1. Почему первая цель 100 000$ по yearn.finance? 2. Почему ты должен…
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PRICE PREDICTIONS EWT ENERGY WEB TOKEN, JUP, MONA, YFII, AVT, CELSIUS
Disclaimer: This is not financial advice. These are my views and opinions only. And should only be viewed as such.…
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Braking news Crypto Coin YFII+YFI NEXT VIDEO BTC ETH LUNA SOLONA ADA APE OP GMT COIN
than Solana.YFII coin better than Ethereum.Tag’s used-Better coin than bitcoin YFII+YFI ??? Crypto news today, cryptocurrency update, Bitcoin Update, dogecoin…
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PRICE PREDICTIONS SYN, AVT, YFII, MONA,
Disclaimer: This is not financial advice. These are my views and opinions only. And should only be viewed as such.…
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PRICE PREDICTIONS SYN, JASMY, NU, AVT, YFII, MONA, BLZ AND OTHERS
Disclaimer: This is not financial advice. These are my views and opinions only. And should only be viewed as such.…
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Now Nothing Can Stop DFI.Money After Breaking Out This Big Resistance | YFII Price Prediction 2022
To join me at Patreon: https://www.patreon.com/posts/68403026 Here is the link for the Patreon trades success testimony for July 222: https://www.patreon.com/posts/69738249…
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#yfii #binance #bitcoin #pump
yfii.yfii.yfi.yfii.yfii bitcoin, ETHERIUM,xrp,bnb,Bnb, source
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BITCOIN PRICE PREDICTIONS DOW JONES,ADA,GALA,NKN,LCX,ALCX, JASMY,APE,API3,NCT,BLZ,SYN,AVT,YFII,MONA
Disclaimer: This is not financial advice. These are my views and opinions only. And should only be viewed as such.…
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YFII 2000 $ PAR HO GAYA
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CRYPTO FRIDAY NIGHT UPDATE! BEAR MARKET RALLY OR 1000X? RANDOM COINS APE, YFII, NKN , JASMY AND MORE
Disclaimer: This is not financial advice. These are my views and opinions only. And should only be viewed as such.…
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CRYPTO SATURDAY NIGHT UPDATE! BEAR MARKET RALLY OR 1000X? RANDOM APE, YFII, NKN , JASMY AND MORE
Disclaimer: This is not financial advice. These are my views and opinions only. And should only be viewed as such.…
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This is the most profitable STAKING ever 🚀 yfii farm
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