What is Yearn.Finance?
The new addition of Decentralized Finance platform that just launched Yield Farming where yearn finance will work as Yield Aggregator for lending platform. Yearn Finance is automated that maximize users yield earning in the contract interaction, however currently it supports Compound, Aave and dYdX to participate in liquidity pool and automatically user where they can get maximum return for providing liquidity to the platform.
Yearn Finance announces for YFI that can control whole ecosystem, where it started with $0 USD price and only way to own it, is by providing liquidity on the platform. The report claims the project is operated and launched by Andre Cronje, however he stared posting about project since February 2020. Now recently he launched Yearn Finance version 2 in which yield farming announced with support of optimum strategies available. Right now, delegated yVault support Chainlink, Aave, Ren, Synthetix Tokn and wBTC.
The new system enable support for small yield farmer where user can deposit and withdraws low amount as $2 USD. Yearn Finance ecosystem will be having 5 main product including profit switching lender Yearn, the system will have ytrade (used for leverage stable coin trade e.g. yDAI), yliquidate (automated liquidation), yswap (automated market maker), iborrow (for lending and borrowing).
Yearn.Finance Price Prediction
|Month & Year||YFI Price Prediction|
|Based on||Yield Farming DeFi|
|All-time high||$4,664.11 USD|
|Exchange Platform||MXC, Poloniex, CoinEx, Hotbit, hoo, Switcheo Network, TomoDEX, Uniswap.|
|Wallet||Metamask, trust wallet, Wallet Connect, Tezor, Ledger.|
Yearn Finance Price Analysis
YFI form 0 to current all time highest $4664 USD on 25th July 2020, it is officially surged by 4660% in just one week of time. now it officially listed on CMC and on DeFi project list secured position in top 10 highest market volume DeFi Project. The new era of Decentralized finance is beginning in 2020 and currently dominating along with Compound and Aave and other projects. now, the possible outcomes for YFI expected to dropped in coming week, similar like Compound after following bullish trend.
Can YFI Reach $5k USD?
Yes, Probably in 2021.
How Much YFI Worth in 2030?
Its hard to predict but most probably reaching $10k USD.
Is Yearn.Finance Good Investment?
Better to earn by staking stablecoin on the Yearn platform.
Yearn.Finance innovates the decentralized finance market and will be tough competitor for existing project. The yield farming is most awaited concept in different platform, where it enables working with different project and now they support more than 4 project and expected add more. YFI allow user to stake different stablecoin to earn interest, where maximum return provider will automatically be suggested.