Yearn proposes “buyback and build” strategy for YFI holders

The Yearn.finance community is introducing a proposal to reform the current token economics of YFI. Popularly called “buyback and build,” the proposal aims to bolster the project’s treasury while also generating value for all stakeholders. Its list of authors includes Yearn core developers Banteg, Tracheopteryx and Lehnberg, as well as Gabriel Shapiro, partner at BSV Law and occasional Yearn contributor. Currently, Yearn.finance uses a staking and dividends model. Holders must place their tokens in the yGov contract and receive a portion of the revenue generated by its yield strategies. This…

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YFI, AAVE, COMP plunge 10% — 3 reasons DeFi is seeing a huge correction

Major decentralized finance (DeFi) tokens Yearn.finance (YFI), AAVE and Compound (COMP) plunged steeply in the last 24 hours. The three DeFi tokens, which are valued well over $500 million, declined by over 10% on the day. Yearn.finance, AAVE, COMP 15-minute chart (Binance). Source: TradingView.com Three reasons why DeFi-related cryptocurrencies pulled back particularly hard are low volume, the declining Ether (ETH) price, and the uncertainty around Bitcoin (BTC). Even top DeFi tokens like YFI and AAVE have comparably low volume Compared to major cryptocurrencies, like Bitcoin and Ether, DeFi tokens have relatively…

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Yearn Finance formalizes operations budget as YFI rallies

After a three-day voting period, this morning members of Yearn Finance’s decentralized governance approved Yearn Improvement Proposal 54 (YIP-54), formalizing an ongoing budget for operational expenses.  YIP-54 aims to improve on previous proposals, including YIP-36 and YIP-41, which allowed for expenditures relating to hackathons, grants, security audits, bug bounties, and operations employee salaries. Under YIP-54, community members will be able to audit expenses quarterly.   YIP-54 also included a provision allowing the newly-formed Operations Fund to “buy back YFI or other assets at its discretion.” Many Twitter users rejoiced at the…

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DiFy.Finance (YFIII) Is an In-Development Software Fork of Yearn.Finance (YFI)

DiFy.Finance, like YFI, the platform it is based on, is an environment of decentralized finance (DeFi) lending aggregators: it allows users to provide liquidity for the ecosystem by parking their cryptocurrency tokens in a smart contract vault and earning interest in return. By the virtue of it being an aggregator of lending services, YFIII users are able to optimize their interest yields in an automated manner by frequently rebalancing their investments between available options. What Makes DiFy.Finance Unique? DiFy.Finance is part of the larger trend of decentralized finance: an industry…

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Defi Community Members Aim to Sue Yearn Finance Creator Andre Cronje and Fork YFI

Members of the decentralized finance (defi) community are upset with Yearn Finance founder Andre Cronje over the mishap with Cronje’s secret Eminence (EMN) project. The Eminence protocol gathered $15 million before the project was ultimately hacked before the official launch. According to a recent blog post published on Medium, a group of defi community members plan to sue Yearn Finance founder, Andre Cronje, and fork YFI as well. As news.Bitcoin.com recently reported, there’s been a lack of trust in Cronje’s work since an undercover project that didn’t even launch was…

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YFI Surges to 38K, BTC Comeback Predictions and Ryanair CEO’s Fury

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week.   Top Stories This Week   YFI price soars to $38,800 hitting $1 billion market cap — Can it go higher? Yearn.finance’s founder, Andre Cronje, has warned that YFI tokens are “worthless” — but this hasn’t stopped them from rising even higher over the weekend. YFI surged by more than 75% in 24 hours — achieving a new all-time high of $38,883. (Prices have cooled since then, falling to $29,876 at the…

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YFI price soars to $38.8K hitting $1B market cap — can it go higher?

Yearn.finance’s native token YFI has surged by more than 75% in the last 24-hours, achieving a new all-time high at $38,883 on Binance  in it’s (USDT) pair. The strong upside move also brought the DeFi-token’s market capitalization above $1 billion.  YFI/USDT 1-hour chart. Source: TradingView.com Traders are excited but is YFI overvalued?  The general sentiment around YFI from Decentralized Finance (DeFi) enthusiasts remains seemingly positive. IDEOVC’s Ian Lee pinpointed yearn.finance’s developer Andre Cronje’s fast-paced product releases as a positive long-term catalyst for YFI. In the past month, Cronje has introduced various…

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YFI Becomes First Altcoin to Exceed the Price of Bitcoin — Now What?

Yearn.finance’s native governance token YFI became the first-ever altcoin to surpass the price of Bitcoin (BTC) on Aug. 20. It spiked to as high as $13,444 on Binance, fueled by the growing demand for Decentralized Finance, or DeFi. The sentiment around YFI’s vertical rally since early August remains mixed. Some believe YFI is primed for a pullback. Others foresee more growth potential over the longer term. The 4-hour chart of yearn.finance (YFI). Source: TradingView.com What is YFI and why has it surged so much? Yearn.finance is a DeFi protocol that…

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