yearn.finance Hits 24-Hour Trading Volume of $9.81 Million (YFI)

yearn.finance (YFI) traded 2.9% lower against the US dollar during the 1 day period ending at 12:00 PM ET on January 8th. One yearn.finance token can now be bought for $3,524.19 or 0.03901258 BTC on exchanges. yearn.finance has a total market cap of $123.67 million and $9.81 million worth of yearn.finance was traded on exchanges in the last 24 hours. In the last seven days, yearn.finance has traded 8.1% higher against the US dollar.

Here’s how similar cryptocurrencies have performed in the last 24 hours:

• Aidi Finance (BSC) (AIDI) traded down 2.2% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 2.2% lower against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Hokkaidu Inu (HOKK) traded 1.2% higher against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• SolvBTC (SOLVBTC) traded 1.7% lower against the dollar and now trades at $89,894.54 or 0.99512696 BTC.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

yearn.finance Profile

yearn.finance’s launch date was July 17th, 2020. yearn.finance’s total supply is 36,646 tokens and its circulating supply is 35,092 tokens. The official message board for yearn.finance is medium.com/iearn. The official website for yearn.finance is yearn.finance. yearn.finance’s official Twitter account is @yearnfi.

According to CryptoCompare, “Yearn Finance is a suite of products in Decentralized Finance (DeFi) that provides lending aggregation, yield generation, and insurance on the Ethereum blockchain. The protocol is maintained by various independent developers and is governed by YFI holders.Core Products:Vaults:Capital pools that automatically generate yield based on opportunities present in the market. Vaults benefit users by socializing gas costs, automating the yield generation and rebalancing process, and automatically shifting capital as opportunities arise.Earn:The first Yearn product was a lending aggregator. Funds are shifted between dYdX, AAVE, and Compound automatically as interest rates change between these protocols. Users can deposit to these lending aggregator smart contracts via the Earn page.Zap:A tool that enables users to swap into and out of (known as “Zapping”) several liquidity pools available on Curve.Finance. These pools benefit from the lending aggregators discussed above, as well as earning users trading fees by partcipating as Liquidity Providers (LPs) on Curve.Fi. Currently users can use five stablecoins (BUSD, DAI, USDC, USDT, TUSD) and “Zap” into one of two pools (y.curve.fi or busd.curve.f) on Curve. Alternatively, users can “Zap” out of these two Curve pools and into one of the five base stablecoins.Cover:Insurance that enables users to obtain coverage against financial loss for various smart contracts and/or protcols on the Ethereum blockchain. Cover is underwritten by Nexus Mutual.Governance:The Yearn ecosystem is controlled by YFI token holders who submit and vote on off-chain proposals that govern the ecosystem. Proposals that generate a majority support (>50% of the vote) are implemented by a 9 member multi-signature wallet. Changes must be signed by 6 out of the 9 wallet signers in order to be implemented. The members of the multi-signature wallet were voted in by YFI holders and are subject to change from future governance votes.”

Buying and Selling yearn.finance

It is usually not presently possible to purchase alternative cryptocurrencies such as yearn.finance directly using US dollars. Investors seeking to acquire yearn.finance should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase yearn.finance using one of the aforementioned exchanges.

YFI/USD price chart by TradingView