Yearn Finance YFI Crypto Assets Reach IDR 1 Billion

Lutfi

Yearn Finance YFI Crypto Assets Reach IDR 1 Billion
Yearn Finance YFI Crypto Assets Reach IDR 1 Billion

Rancakmedia.com – This year's crypto asset price Yearn Finance YFI became the first crypto asset to exceed IDR 1 billion. The price of YFI, which is an alternative currency (altcoin), even exceeds the crypto asset with the largest market capitalization, bitcoin.

Quoted from Coingecko, the YFI price is around US$73.429 per chip or around Rp. 1,04 billion. This value rose 15,8 percent compared to trading at the same time the previous day.

In the last week, YFI prices rose 18,9 percent, while in the last month they rose 49,1 percent. YFI currently has a market value of $2,65 billion USD, ranking 59th on the list of crypto assets by market capitalization.

So what exactly is Yearn Finance YFI?

Reporting from Coinecko Tuesday (18/5/2021), YFI is a crypto asset that is included in the governance token category. The governance token itself is a crypto asset which symbolizes the power of voting or elections in blockchain companies.

So what exactly is Yearn Finance YFI?

In this example, Yearn Finance YFI is governance token for the Yearn Finance system. These tokens can be used to vote and receive cash flows from fees collected by the protocol. The yearn.finance ecosystem is based on the Ethereum blockchain infrastructure.

Learn Yearn Finance YFI

Yearn Finance was founded by Andre Cronje. He is a developer or system developer finance independent decentralized (DeFi). The Yearn Finance initiative started in January 2021, according to Coindesk. This man from South Africa was once a lawyer who then became interested in the technology business.

He became interested in blockchain in 2016 and started designing programs to move his funds from one platform to another that provided maximum profits. This program was then created with Cirve Finance and Aave, two DeFi systems, which eventually matured into yearn.finance.

At that time, Cronje moved his funds from the dYdX, AAVE and Compound platforms automatically. Currently, the number of tokens accessible in the crypto asset market is 36.000 coins out of a total of 36.700 tokens available.

To be able to receive these coins, you can buy them using crypto asset trading sites. In Indonesia, you can receive these coins through sites, one of which is Indodax.

Conclusion:

YFI became the first crypto asset to exceed IDR 1 billion. YFI currently has a market value of $2,65 billion USD, ranking 59th on the list of crypto assets by market capitalization. Tokens can be used to vote and receive cash flows from fees collected by the protocol.

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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.