About YFII
DFI.Money ($YFII) is a Ethereum and BNB Chain based DeFi-farming aggregator that automatically puts your crypto assets to earn high yield profits.YFII is a fork of YFI project from YIP-8 upgrade in July 2020.What is Yearn and YFI?Yearn Finance is a yield aggregator for DeFi lending platforms that rebalances for highest yield during contract interaction which supports Compound, dYdX, Aave and DDEX protocols. When users put their money into the platform, it automatically transfers the assets into the protocol that has the highest yield, and returns a proof of stake called yToken. Users can send back yTokens at any time to withdraw their deposits along with the interest.Moreover, Yearn and Curve together created y.curve.fi, a pool for stable coin exchange. Besides enjoying the interest on lending, yToken holders can put their tokens into the exchange pool of y.curve.fi to become a market maker, generating extra incomes. Such a combo now ranks first among all DeFi platforms by APR.YFI is the token used for governing Yearn protocol. Its initiator Andre Cronje admitted that he had no interest in participating in the governance and wished the community to be autonomously organized. Until July 26th, YFI has been issued to yield farmers who provide liquidity to the pools (Info from debank.com).YIP-8 and forking of YFIAs mentioned above, the mining/farming of YFI has stopped on July 26. In order to prevent a sharp drop in liquidity of the pools, the community proposed YIP-8, suggesting a weekly halving model for yield farming. Though more than 80% of the votes are FOR the proposal, it has been declined because of the unmet 33% quorum requirement. To protect Andre's genius design from being spoilt by whales, we forked YFI, naming it YFII. The issuance of YFII imitates the halving model of Bitcoin so that the tokens will be fairly distributed to the community.YFII Token DesignThe total supply of YFII is 40,000. Each of the two pools will be emitting 20,000 tokens to yield farmers, starting at 10,000 in the first week halving every 7 days. The number of tokens farmed is in proportion to the liquidity farmers provide to the pools. YFII will be completely distributed in the following 10 weeks.Burning of admin keyPeople may be worrying that if the developers would issue infinite number of YFII tokens to steal their money. The answer is: impossible. The minting keys have already been burnt by transferring the admin role to the blackhole address (0x00) so that no one has this privilege to mint new tokens. You can examine the burning txns below which are also documented at a specific page.
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Frequently Asked Questions
What Is DFI.MONEY (YFII)?
Read MoreDFI.MONEY, also known as YFII, is a fork of popular decentralized finance (DeFi) aggregator platform yearn.finance (YFI).
Launched in July 2020, it aims to optimize returns for DeFi investors while adhering to changes proposed in an upgrade plan called YIP-8.
In addition to protocol changes, DFI.MONEY has also released new products, chief among which, the Vault, it describes as its “killer product.”
The native token of DFI.MONEY is YFII, a fixed-supply token which liquidity providers earn in accordance with their network interaction.
Who Are the Founders of DFI.MONEY?
Read MoreDFI.MONEY originated as a hard fork of yearn.finance, the aggregator for DeFi returns created by Andre Cronje.
Cronje left the original incarnation of yearn.finance, iEarn, in early 2020, only to return to continue its development, whereupon its popularity grew considerably as DeFi became more mainstream.
In July 2020, mining and farming of yearn.finance’s YFI token ended, and a proposal to protect liquidity provision from whales earned 80% support among protocol participants. However, it was not adopted due to not meeting yearn.finance’s requisite 33% quorum requirement.
As a result, a group of users opted to hard fork the protocol to create DFI.MONEY, with its own token, YFII.
The hard fork implemented the proposal, known as YIP-8, which makes YFII rewards decrease each week, following a pattern popularized by Bitcoin (BTC).
What Makes DFI.MONEY Unique?
Read MoreDFI.MONEY essentially fulfils the same role in the DeFi marketplace as yearn.finance, subject to different protocol rules for its token and with some new features.
Its appeal is thus aimed at users of its predecessor who voted in favor of YIP-8, as well as newcomer DeFi investors who want to maximize returns by providing liquidity.
DFI.MONEY’s website states that its protocol is community-owned and does not offer commercial incentives such as developer rewards by default.
Users join one or both of two liquidity pools which feature Curve (CRV) or Balancer (BAL), earning YFII tokens as a reward for providing liquidity.
DFI.MONEY also introduced a new feature, the Vault, which seeks to gain users the highest returns of any token automatically according to user-submitted strategies, without the users themselves manually setting up transactions.
How Many DFI.MONEY (YFII) Coins Are There in Circulation?
Read MoreYFII is an ERC-20 standard token with a fixed supply of 40,000 YFII. According to the characteristics set out and accepted in YIP-8, no premine, presale or developer-allocated tokens were taken from the total supply.
DFI.MONEY states that the only way of earning YFII is by providing liquidity to the protocol. Tokens are distributed according to liquidity provision, with rewards decreasing weekly. Each of the two liquidity pools began with a supply of 20,000 YFII.
A schedule confirms that token distribution was completed 10 weeks after it began, at the end of September 2020.
How Is the DFI.MONEY Network Secured?
Read MoreDFI.MONEY states that YFII has a guaranteed fixed supply of 40,000 tokens which cannot be manipulated by developers.
This was made possible by sending keys allowing minting of new tokens to a so-called “blackhole” address, and access to them is permanently lost.
Developers published links to the transactions showing transfer of the keys to the blackhole.
Where Can You Buy DFI.MONEY (YFII)?
Read MoreYFII has become a popular trading token since its launch. As of October 2020, it is available on multiple major exchanges, with trading pairs featuring cryptocurrencies, stablecoins and other DeFi tokens.
Binance, OKEx and Huobi Global are among the exchanges with the largest YFII volume.
Still a crypto newbie? Read our easy guide to buying Bitcoin or any other cryptocurrency.
What is the all-time high price of DFI.Money (YFII)?
Read MoreThe all-time high of YFII was 0 USD on 1970-01-01, from which the coin is now down 0%. The all-time high price of DFI.Money (YFII) is 0. The current price of YFII is down 0% from its all-time high.
How much DFI.Money (YFII) is there in circulation?
Read MoreAs of
, there is currently 38,596.00 YFII in circulation. YFII has a maximum supply of 39,375.00. What is the market cap of DFI.Money (YFII)?
Read MoreThe current market cap of YFII is 15.21M. It is calculated by multiplying the current supply of YFII by its real-time market price of 394.01.
What is the all-time low price of DFI.Money (YFII)?
Read MoreThe all-time low of YFII was 0
, from which the coin is now up 0%. The all-time low price of DFI.Money (YFII) is 0. The current price of YFII is up 0% from its all-time low. Is DFI.Money (YFII) a good investment?
Read MoreDFI.Money (YFII) has a market capitalization of $15.21M and is ranked #1139 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze DFI.Money (YFII) price trends and patterns to find the best time to purchase YFII.