YFII (YFII’s For Innovative Investment) is a fork of Yearn Finance’s YFI blockchain project. It is a DeFi platform that offers complete community governance. It comprises pools and a vault that offer a range of financial services including yield farming and staking. The project was launched in part due to YFI’s ending of mining and farming.
YFII is the project’s native cryptocurrency and has a total supply of 40,000, with the possibility of minting new tokens impossible. The token is used for governance and is crucial in the operation of the platform.
What are DFI.Money’s key features and how does it work?
At present, there are two pools available on the platform. Users can stake tokens and receive YFII as a reward, indeed the only way to get YFII is by providing liquidity to these pools. Each pool was allocated with 20,000 YFII tokens. The first pool is YFII and CRV, the second pool is YFII and BAL.
The project also has a vault: YFII Vault. It functions as a yield aggregator for farming pools. It uses contracts to target high APR, users can deposit tokens to it and automatically receive the yield based on the strategy deployed. The vault invites users to create their own strategies that can be voted for by the community. Strategies with the highest number of votes are implemented.
Users who deposit into the vault receive iTokens in return. This acts as a proof of deposit and allows users to withdraw from the vault. iTokens can be traded or transferred on the market and will always remain redeemable, they are also interest bearing.
Since the governance of YFII is community-driven, users holding YFII can submit and vote on proposals. Proposals can be discussed and modified using the YFII forums and various social media groups.
Historical events:
DFI.Money is previously known as YFII Finance.
This is a fork of Yearn.finance YFI with YIP 8 implemented.
DFI.Money's current share of the entire cryptocurrency market is 0.00%, with a market capitalization of $ 1.04 Million.
YFII
