Is yearn finance a cryptocurrency?

Yearn. finance can be considered a platform with impeccable security standards , and the governance lies with only YFI holders, making it a self-governed platform. This implies that the finance community that uses the protocol will monitor it (where one token has one vote).

Since YIP-61: Governance 2.0 passed on April 25th, 2021, yearn began the transition into a multi-DAO structure , managed by constrained delegation.

YFI is the native cryptocurrency of the Yearn Finance platform : a collection of decentralized finance (DeFi) products that allow users to earn interest on their crypto assets using smart contract platforms like Ethereum. Yearn Finance’s yield products typically offer yields of 25% to 35%.