Yearn Finance YFI Token Jumps After Tokenomics Proposal

Lutfi

Yearn Finance YFI Token Jumps After Tokenomics Proposal
Yearn Finance YFI Token Jumps After Tokenomics Proposal

Rancakmedia.com – Yearn Finance YFI Yearn token rose around 25 percent over the previous 24 hours despite a larger general market decline. Yearn's YFI token rose about 25 percent on the day and more than 100 percent this week.

The price increase is likely related to the new Yearn Governance proposal which will require many adjustments to Yearn tokenomics.

Proposal Not yet approved

Yearn.Finance token holders have enjoyed substantial price growth this week, with the YFI token up around 25 percent today alone.

Yearn Finance YFI Token Soars

Yearn.Finance (YFI), a DeFi aggregator with a total value of over $5,5 billion, is rising at a time when most other tokens and coins on the market crypto down. Apart from today's 25 percent price increase, YFI is up around 100 percent compared to the previous week.

In May, YFI reached a value of nearly $82.700 per token, but traded as low as $19.594 as recently as December 12. At the time of writing, the value is almost $39.100 per token.

Yearn Finance YFI Token Soars

The price activity may have stemmed from a proposal circulating among the Yearn community discussing a fundamental revision of YFI tokenomics. For now, the proposal is still in the necessary discussion stage and does not yet meet the requirements for official approval.

This proposal focuses on four important actions, which must be completed sequentially, to change the tokenomics of the YFI token:

First, a portion of YFI tokens will be bought back by Yearn's Treasury and given as incentives to YFI holders who are actively involved in Yearn's Governance.

Second, four mechanisms through which YFI holders can be compensated for locking their tokens are presented.

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Lutfi

Hi, let me introduce myself, Lutfi Hulasoh, I am a writer and techno blogger. I started creating a personal blog writing informative articles about the latest trends and developments in technology. My writing covers a wide range of topics, from mobile applications to artificial intelligence, and I can also provide easy-to-understand explanations to help readers understand complex concepts.