Yearn.finance is a platform designed to let users take advantage of liquidity mining (what’s otherwise known as ‘yield farming’) protocols on a range of leading DeFi platforms, such as Uniswap, Sushiswap, Compound, Balancer and more. Yearn’s innovation was to enable automatic switching between pools to chase the highest yield, wherever that might appear.
YFI is the governance token of the Yearn.finance contract, enabling users to vote on changes to the protocol, new strategies and vaults and the composition of Yearn’s nine-member multi-sig board. YFI is distributed to users who provide liquidity to any of their products.
Only 30,000 YFI tokens will ever be minted, hence the Bitcoin-esque price per unit.
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