Yearn Finance’s YFI Token Hits Five Figures, Closing in on BTC Price

Описание: Yearn Finance’s YFI Token Hits Five Figures, Closing in on BTC Price With a very limited supply of just 30,000 tokens, demand for YFI is palpable. A single token now costs almost as much as one BTC and it does not seem to be slowing down. The high-flying token is the basis of the Ethereum-based DeFi yield aggregator Yearn.Finance, which allows users to maximize returns and earn interest on crypto collateral while saving on transaction fees and time spent on researching rates. Whenever someone makes a deposit or withdraws from a yEarn Vault, the smart contracts reallocates capital held in the Vault into the highest yielding opportunity. Ryan Sean Adams expands on this process here, in his latest Bankless newsletter. In the hours that followed, prices retreated a bit, but have remained above five figures at $11,000 at the time of press. It added that the treasury figure now stands at just shy of $330,000. As reported by BeInCrypto on Tuesday, the platform has released the details of three new tokenized insurance pools for liquidity providers.