When was YFI launched?

Genel

YFI is also known as yEarn. It was launched by Andre Cronje in early 2020 . It is connected to the Yearn.finance protocol as its native cryptocurrency. The protocol allows its users to give their vote on which direction they wish to the protocol to head.

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How did YFI start?

Genel

finance was fairly niche. After the exploit early in 2020 and the cryptocurrency market crash of March, many users were hesitant to use the then-new protocol. This changed when Cronje released a blog post to Medium announcing YFI, an ERC-20 token launched so users could govern the Yearn.

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Who is Andre Cronje crypto?

Genel

Cronje has had a prolific career in crypto. According to his LinkedIn page, Cronje has held numerous positions within the community including technology head at the Fusion Foundation, tech analyst at Lemniscap and code reviewer at news outlet Crypto Briefing .

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What is YFI used for?

Genel

Still, YFI has value as it is used to encourage users to lock cryptocurrencies in yearn. finance and its contracts running on Balancer and Curve . For example, anyone who owns YFI is able to receive revenue collected by the protocol in the form of fees.

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