Other experts say that in the coming years there is a possibility that bitcoin will be replaced. I want to believe but I don't seem to believe it because bitcoin has a high value these days.
I often read news in the crypto community. In my research on bitcoin, there is a high chance that bitcoin could be replaced with another crypto coin that I was not aware of. Just like this one -
Lets talk about 'YearnFinance'
As you can see YearnFinance Token is only 30,000 Maximum supply and a price of $3,741.19 gaining 75.7% and rank #79 this time.
YearnFinance chart from July 24, 2020 to July 25, 2020.
Market Cap - $107,270,211
Market Cap - Dominance 0.04%
Trading Volume - $57,893,607
Volume / Market - Cap 0.5397
24h Low / 24h High - $2,099.98 / $4,661.97
7d Low / 7d High - $790.94 / $3,211.0
Market Cap Rank - #79
All-Time High - $4,661.97 -11.2%
Jul 25, 2020 (20 minutes)
All-Time Low - $31.65 12978.3%
Jul 18, 2020 (7 days)
yearn.finance / - 1 BTC = 2.32 YFI
Bitcoin Ratio
YearnFinance is a DeFi Project
The world of DeFi (decentralized finance) has experienced tremendous growth over the past few months. People in lending many offering a variety of services such as defi project began to increasingly appeal to a large audience.
iEarn (or yearn.finance) actually caters exactly to this audience. Because yearn.finance users can use DeFi networks much more effectively by using this product . The reason is that the yearn.finance you will receive interest earning much from what projects, what projects how much processing fee will automatically be said in any way. Investors can do this in the most efficient way for themselves when they want to take advantage of Aave’s lending or Maker’s Dai Savings Rate services .
Yearn.Finance Ecosystem
The yearn.finance ecosystem, developed by Andre Cronje, allows people to benefit from different products . It seems that the Yearn.finance ecosystem is still under development and there are some shortcomings that need to be addressed, already promising a bright future. According to Cronje’s statements, the following products are currently included in this ecosystem:
yTrade: DAI provides the use of leading fixedcoins such as USDC, USDT, TUST and sUSD with leverage rates of up to 1000 times. If you do not pay the required transaction fee and want to trade free of charge, you can use the leverage ratio of 250 times at most.
iLiquidiate: An automated liquidation engine for Aave users.
iLeverage: Using USDC as the underlying asset in Dai Vault, it allows you to take positions with a 5-fold leverage ratio.
iPool.finance: The first pool to switch between y.curve.fi and sUSD curve.fi pools. Before being passivated, he had $ 10 million in assets under his management.
ySwap: A stable AMM (automated market maker) that collects interest and rewards, while providing unilateral liquidity.
* .finance: A new product that has not been named yet. It will be for Aave users who are attracting credit.
Yearn.finance project has not been in operation for a very long time yet, but the amount of assets under management of the project (AUM) has already reached up to $ 8 million. In addition, this project, which can automatically operate on behalf of users on platforms such as Aave, Compound and dydx, also generates income through these transactions.
Thanks to the services of yearn.finance, users are able to capture the revenue rates that they may never catch on their own. This is increasingly popularizing yearn.finance and the management token named YFI. Users who earn revenue from various DeFi platforms through Yearn.finance can also earn the YFI token. According to sources like DeFiRate , people will probably head to pools like yCurve, in order to gain YFI.
Earning YFI is not a difficult task. When you provide liquidity to one of the platforms mentioned above, you will be able to earn a certain amount of YFI from the distribution contracts on those platforms (which will provide its interface yearn.finance). YFI can be won easily in this way, but this token actually has no value other than its management authority . As stated by Cronje, the founder of the project, this token will not be “sold” in any way .
However, Cronje’s YFI token’s “financial value is zero” declaration did not prevent the token from gaining value. The fact that the Yearn.finance ecosystem reached an incredible audience in a short time led to the increase in the value of this token. This token cannot be bought and sold, of course, but according to CoinGecko data it has already reached over $ 2,000.
The fact that Yearn.finance performed in this way made DeFi followers very excited.
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