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yearn.finance (YFI) Price

YFI

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About yearn.finance (YFI)

Yearn Finance is a decentralized asset management platform. As a roll-up of myriad projects, the platform has several uses, including liquidity provisioning, lending and insurance.

YFI, with its limited supply, is the platform's native asset.

The most prominent product in its ecosystem, as Messari points out, is Vaults representing an array of yield farming optimization strategies proposed by the community.

Platform users to help manage holdings by selecting the strategy that best suits them and depositing assets into that vault Yearn Finance technology allows for shifting capital, auto-compounding and rebalancing, the platform says.

During the latter part of 2020, Yearn Finance announced several mergers, bringing leading DeFi projects together, creating an ecosystem.

A Medium post summarized the projects that were pulled into the combo. They all focused on key pieces of decentralized finance (DeFi) infrastructure. The projects included SushiSwap, an automated market maker (AMM); Cream Finance, a DeFi lender; Akropolis, representing a means of institutional support; and Pickle Finance, a yield management platform.

"As an ecosystem, we enjoy strong collaboration across teams," the Medium post said.

Investors who are not technically savvy relative to more experienced DeFi traders are Yearn Finance's target audience.

Yearn Finance launched in February 2020 and has seen growth in use among the developer community now pursuing new strategies to maximize yield farming activities using automated solutions and leveraging collateral.

Yearn is one of the "leading yield aggregators in DeFi," Blockworks said.

A token buyback program sparked volume in YFI at the start of 2022, Cointelegraph said.

How to buy yearn.finance (YFI)

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