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DeFi Ethereum Governance

YFI token (yearn.finance) explained

How the YFI token works. Yearn.finance is an aggregator of DeFi lending platforms on Ethereum. It helps the user automate parts of DeFi.

What is yearn.finance?


A simple interface for automating DeFi transactions.

Yearn aggregates and connects to different lending platforms and finds the best yields and rates for the user.

Yearn services can

  • Rebalance for highest yield
  • Bundle transactions and lower fees
  • Farm and sell tokens on DEX

YFI token is used for


How YFI Token works


YFI is the governance token for yearn.finance. When launched it could only be earned through using the platform.

At ygov.finance you can stake and vote on proposals.

Configurable Voting rules

  • Minimum quorum required (>33%) to propose a change.
  • Veto rights (>25%).
  • agreement thresholds (>50%) required to pass a vote and update a change.

How yearn.finance works


You go to the interface, deposit stable coins and earn interest.

When you deposit your token is wrapped and returned as a yToken until you withdraw.

Yearn services

Earn

Earn interest.

Zap

Get into a complicated DeFi position in 1 transaction.

APR

Compare rates.

Vaults

  • Provided liquidity.
  • Use liquidity as collateral
  • Manage collateral.
  • Borrow stablecoins
  • Farm.
  • Sell gains.

Lending platforms yearn uses

Components managed by YFI governance

  • Governance
  • Fees
  • Incentives
  • Pools
  • Protocol

Docs


Docs

Token issuance


Max supply: 30 000

Subject to change through governance.

Competition


YFI price


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