{"id":7496,"date":"2023-11-30T15:13:13","date_gmt":"2023-11-30T15:13:13","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=7496"},"modified":"2024-03-27T11:20:57","modified_gmt":"2024-03-27T11:20:57","slug":"what-is-yearn-finance-yfi","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/","title":{"rendered":"What is Yearn.finance (YFI)? What Does It Do?"},"content":{"rendered":"<p><strong>Yearn.finance<\/strong> is a platform that helps achieve the best yield among <strong>DeFi<\/strong>(Decentralized Finance) platforms.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/#What_is_Yearnfinance_YFI\" title=\"What is Yearn.finance?\u00a0(YFI)\">What is Yearn.finance?\u00a0(YFI)<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/#How_Does_Yearnfinance_Work\" title=\"How Does Yearn.finance Work?\">How Does Yearn.finance Work?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/#Who_Created_Yearnfinance\" title=\"Who Created Yearn.finance?\">Who Created Yearn.finance?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/#Tokenomics\" title=\"Tokenomics\">Tokenomics<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"What_is_Yearnfinance_YFI\"><\/span>What is Yearn.finance?\u00a0(YFI)<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><strong>Yearn.finance (YFI)<\/strong> is a <strong>DeFi<\/strong> protocol running on <a href=\"https:\/\/coinengineer.net\/blog\/vitalik-buterin-calls-for-action-mitigating-centralization-risks-in-ethereum-staking\/\"><strong>Ethereum<\/strong><\/a> blockchain. This protocol focuses on optimizing earnings on crypto assets and allows users to increase their incomes.<\/p>\n<p><strong>YFI<\/strong> includes a set of protocols operated with codes. APY data table shows interest rates in different lending protocols, while Earn offers users the highest interest rates possible by lending their assets.<\/p>\n<p>Vaults include various investment strategies designed to achieve the highest return from other DeFi projects, while Zap enables users to save costs and workload by combining multiple transactions with a single click.<\/p>\n<p>Users earn <strong>YFI<\/strong> tokens by locking their crypto assets into specific contracts on the yearn.finance platform. This method is part of a practice known as &#8220;yield farming&#8221;. Users are rewarded with more tokens by locking their crypto assets in <strong>DeFi<\/strong> protocols.<\/p>\n<p>Yearn.finance has shown rapid growth since its inception and has secured a significant place in the <strong>DeFi<\/strong> ecosystem. This platform offers a range of opportunities for users to optimize their crypto assets and increase their income.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Does_Yearnfinance_Work\"><\/span>How Does Yearn.finance Work?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Yearn.finance<\/strong> works with protocols distributed to the Ethereum blockchain and these protocols run on other decentralized exchanges like Balancer and Curve. Users expect these protocols to offer their services on Ethereum and fulfill the promised functions.<\/p>\n<p>The platform&#8217;s main services, Earn, Zap, and APY, focus on allowing users to lend or trade their cryptocurrencies. Earn scans different lending protocols to find the best interest rates and offers those advantages to users. Users can benefit from the specified interest rates by investing their assets in yearn.finance.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Who_Created_Yearnfinance\"><\/span>Who Created Yearn.finance?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Yearn.finance was launched in 2020 by an independent developer named Andre Cronje.<\/p>\n<p>In particular, Cronje has indicated that he did not take any funding for the yearn.finance protocol nor did he reserve any tokens for himself prior to launching the platform. This separates yearn.finance from most other DeFi projects.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Tokenomics\"><\/span>Tokenomics<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>YFI<\/strong> is the cryptocurrency that manages the yearn.finance platform.<\/p>\n<p>YFI owners can vote on proposals to set the rules that platform users must follow. A proposal must receive more than 50% of the vote to be implemented in yearn.finance&#8217;s code.<\/p>\n<p>YFI Token can easily be bought and sold on Global Exchanges such as <strong><a href=\"https:\/\/accounts.binance.com\/en\/register?ref=B4DLQJE0\">Binance<\/a><\/strong>, <strong><a href=\"https:\/\/www.bitget.com\/tr\/expressly?languageType=8&amp;channelCode=CoinEngineer&amp;vipCode=2bui\">BitGet<\/a><\/strong>, <strong><a href=\"https:\/\/www.kucoin.com\/r\/af\/QBSNB5YM\">Kucoin<\/a><\/strong>, <a href=\"https:\/\/www.mexc.com\/register?inviteCode=16GZj\"><strong>Mexc<\/strong><\/a>, <strong><a href=\"https:\/\/www.huobi.com\/tr-tr\/v\/register\/double-invite\/?inviter_id=11343840&amp;invite_code=mbwg2223\">HTX<\/a> <\/strong> and <strong><a href=\"https:\/\/www.gate.io\/signup\/3499516\">Gate.io<\/a><\/strong>. If you want to benefit from the discount link specifically defined for Coin Engineer followers, you can use our reference code by clicking on the exchange you want to register.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yearn.finance is a platform that helps achieve the best yield among DeFi(Decentralized Finance) platforms. What is Yearn.finance?\u00a0(YFI) Yearn.finance (YFI) is a DeFi protocol running on Ethereum blockchain. This protocol focuses on optimizing earnings on crypto assets and allows users to increase their incomes. YFI includes a set of protocols operated with codes. APY data table<\/p>\n","protected":false},"author":1,"featured_media":7498,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,5],"tags":[1028,2688,2686,2687],"class_list":["post-7496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-projects","category-project-review","tag-yearn-finance","tag-yearn-finance-price-prediction","tag-yearn-finance-token","tag-yearn-finance-token-spotlight"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Yearn.finance (YFI)? What Does It Do? - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Yearn.finance is a platform that helps achieve the best yield among DeFi(Decentralized Finance) platforms.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is Yearn.finance (YFI)? What Does It Do? - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Yearn.finance is a platform that helps achieve the best yield among DeFi(Decentralized Finance) platforms.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-30T15:13:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-27T11:20:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/11\/Yearn.finance-makale.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/\",\"name\":\"What is Yearn.finance (YFI)? What Does It Do? - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/11\/Yearn.finance-makale.jpg\",\"datePublished\":\"2023-11-30T15:13:13+00:00\",\"dateModified\":\"2024-03-27T11:20:57+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/70674da64ef7457ff399f5f51be296e2\"},\"description\":\"Yearn.finance is a platform that helps achieve the best yield among DeFi(Decentralized Finance) platforms.\",\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/11\/Yearn.finance-makale.jpg\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/11\/Yearn.finance-makale.jpg\",\"width\":1920,\"height\":1080},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What is Yearn.finance (YFI)? What Does It Do?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/70674da64ef7457ff399f5f51be296e2\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/47d8a8204de9104b7e21c9124ecff87e02940cf67e2cf7122f4a02f1445ae66b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/47d8a8204de9104b7e21c9124ecff87e02940cf67e2cf7122f4a02f1445ae66b?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"http:\/\/coinengineer.net\/\"],\"url\":\"https:\/\/coinengineer.net\/blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What is Yearn.finance (YFI)? What Does It Do? - Coin Engineer","description":"Yearn.finance is a platform that helps achieve the best yield among DeFi(Decentralized Finance) platforms.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/","og_locale":"en_US","og_type":"article","og_title":"What is Yearn.finance (YFI)? What Does It Do? - Coin Engineer","og_description":"Yearn.finance is a platform that helps achieve the best yield among DeFi(Decentralized Finance) platforms.","og_url":"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/","og_site_name":"Coin Engineer","article_published_time":"2023-11-30T15:13:13+00:00","article_modified_time":"2024-03-27T11:20:57+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/11\/Yearn.finance-makale.jpg","type":"image\/jpeg"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/","url":"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/","name":"What is Yearn.finance (YFI)? What Does It Do? - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/11\/Yearn.finance-makale.jpg","datePublished":"2023-11-30T15:13:13+00:00","dateModified":"2024-03-27T11:20:57+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/70674da64ef7457ff399f5f51be296e2"},"description":"Yearn.finance is a platform that helps achieve the best yield among DeFi(Decentralized Finance) platforms.","breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/11\/Yearn.finance-makale.jpg","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/11\/Yearn.finance-makale.jpg","width":1920,"height":1080},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/what-is-yearn-finance-yfi\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"What is Yearn.finance (YFI)? What Does It Do?"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/70674da64ef7457ff399f5f51be296e2","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/47d8a8204de9104b7e21c9124ecff87e02940cf67e2cf7122f4a02f1445ae66b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/47d8a8204de9104b7e21c9124ecff87e02940cf67e2cf7122f4a02f1445ae66b?s=96&d=mm&r=g","caption":"admin"},"sameAs":["http:\/\/coinengineer.net\/"],"url":"https:\/\/coinengineer.net\/blog\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/7496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=7496"}],"version-history":[{"count":3,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/7496\/revisions"}],"predecessor-version":[{"id":16519,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/7496\/revisions\/16519"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/7498"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=7496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=7496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=7496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}