Of course, this is the case for the first option Yearn offers us. Yes, it is a strategy very similar to arbitrage, but in this case, the Yearn platform does everything for you, transparently, and the best thing is, it is a proven strategy (although not without risks, many risks). The strategy in this case is executed by the smart contracts of the Vault that you choose, fed by the information that comes from the oracles or external eyes of the protocol, which monitor the markets in different pools and protocols that Yearn Finance uses for its operations. For example, if we go to its website we can see its simple interface: And in that sense, the whole operation of Yearn Finance is simple. In its GitHub, we can see that from oracles, its vaults and all control of its operations rests on smart contracts. In addition, we have that each of the Yearn Finance functions is written in a smart contract. Thus, we have the first part of the operation of Yearn Finance, everything is built on smart contracts, everything is decentralized and there are no custodians centralized in people. How does Yearn Finance work?įirst, the operation of Yearn Finance is based on the huge Ethereum network, its EVM and its smart contracts blockchain. Best of all, the system works without human intervention and is completely decentralized, reasons that have made Yearn Finance take on a great relevance in the community. That is to say, a space in which you can invest money, leave it for a period of time, and when you return you will have great possibilities of profit, all without much worries. In this sense, you could see Yearn Finance propose itself as a "Decentralized bot for yield farming".
#Yfi crypto news series
To do this, Yearn Finance is based on a series of smart contracts that allow to trace the best investment strategy in the different pools linked to the Yearn Finance protocol. Now, What led Andre Cronje to create Yearn Finance? As we mentioned at the beginning, the objective of Yearn Finance is to facilitate and enhance yield farming operations. And, perhaps the most surprising of all is that it has been reached by only one person, Andre Cronje, since he is practically the only developer of this entire system. Without a doubt, a record that has been achieved in a few months of work. Although currently (January 2021), the value of its token exceeds 34 thousand dollars, and its TVL on DeFi platforms has decreased to 300 million dollars. In fact, it once had a value locked (TVL) of $821 million, and its YFI token was worth $31.900 with a market capitalization of $958 million. Since then, Yearn Finance and its token YFI, they became one of the 10 largest DeFi platforms in the world. This is how in January 2020, Andre presented his first version of this platform. However, the rise of DeFi and yield farming led him to create Yearn Finance.
#Yfi crypto news code
In fact, he became a code auditor for Crypto Briefing. His early jobs in the crypto world led him to do code reviews at Bitcoin y Ethereum. Andre Cronje, is a recognized character in the world cripto, with extensive knowledge in mobile development and distributed systems. The birth of Yearn Finance responds to the idea of Andrew Cronje, to design a DeFi platform that is easy to use and that will facilitate yield farming operations. Tokenization Fundamentals Course - Certificate.Tokenomics Fundamentals Course – Certificate.Cryptocurrency Taxation and Taxation Course.
0 kommentar(er)
