yearn.finance (CURRENCY:YFI) traded 4.7% lower against the U.S. dollar during the 24-hour period ending at 8:00 AM ET on June 11th. yearn.finance has a total market capitalization of $1.36 billion and approximately $236.03 million worth of yearn.finance was traded on exchanges in the last day. In the last seven days, yearn.finance has traded 11.8% lower against the U.S. dollar. One yearn.finance coin can currently be bought for $37,228.59 or 1.00011883 BTC on major exchanges.
Here is how similar cryptocurrencies have performed in the last day:
- Tether (USDT) traded down 0% against the dollar and now trades at $1.00 or 0.00002688 BTC.
- XRP (XRP) traded 2% lower against the dollar and now trades at $0.86 or 0.00002320 BTC.
- Polkadot (DOT) traded 5.7% lower against the dollar and now trades at $22.40 or 0.00060177 BTC.
- Internet Computer (ICP) traded 10.1% lower against the dollar and now trades at $66.76 or 0.00179352 BTC.
- Filecoin (FIL) traded 4% lower against the dollar and now trades at $73.24 or 0.00196748 BTC.
- Kusama (KSM) traded down 8.9% against the dollar and now trades at $456.34 or 0.01225922 BTC.
- Bitcoin BEP2 (BTCB) traded down 1.2% against the dollar and now trades at $37,231.25 or 1.00019047 BTC.
- SHIBA INU (SHIB) traded 4.3% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
- KnoxFS (old) (KFX) traded up 4.3% against the dollar and now trades at $19.25 or 0.00049793 BTC.
- Klaytn (KLAY) traded down 7.2% against the dollar and now trades at $1.01 or 0.00002716 BTC.
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 possible to buy alternative cryptocurrencies such as yearn.finance directly using U.S. dollars. Investors seeking to acquire yearn.finance should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy yearn.finance using one of the aforementioned exchanges.
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