YFI is the native governance token for Yearn.finance, used to give holders a voice in the platform’s development and decision-making. Unlike other platforms, YFI is not used as a reward for deposits but was initially distributed to users who contributed to the platform. By holding YFI, users can participate in votes and influence which strategies and features are implemented in Yearn.finance.
Yearn.finance operates by using smart contracts and automated strategies to maximize returns on deposited assets. When users deposit their assets into a “vault,” the platform analyzes the best available yield farming options across other DeFi protocols, such as Aave, Compound, or Curve. The capital is automatically reallocated to ensure optimal returns, and any earnings are reinvested to amplify returns over time. Yearn.finance also provides other services like lending, insurance, and stablecoin management tools.
Why does Yearn.finance exist?
Yearn.finance exists to make DeFi more accessible and efficient by automating and simplifying the process of yield optimization. The platform aims to eliminate the need for manual monitoring and management of investments, saving time and reducing the risk of human error. By combining user-friendliness with advanced strategies, Yearn.finance creates a decentralized service that helps investors make the most of their crypto assets without needing to be experts.
Get started with 3 easy steps
Download the Safello App
Login with Mobile BankID
Select which cryptocurrency you want to buy and pay easily with direct payment
Website: https://yearn.fi/
White paper: https://docs.yearn.fi/getting-started/intro