YFI, the management token of the decentralized finance (DeFi) platform yearn.finance, surpassed the Bitcoin price today, exceeding $ 16,600.
Today, the price of Bitcoin was traded around $ 11,800, while decentralized finance (DeFi) platform yearn.finance’s management token, YFI, rose to $ 16,668.
Yearn.finance, formerly known as iearn.finance, is a hobby project from developer Andre Cronje. Yearn.finance was launched in February as a revenue collector for DeFi lending platforms. The platform helps people find where to get the highest return by lending cryptocurrencies.
The interesting thing was that Cronje, the creator of the project, described YFI as “worthless” while YFI added on in terms of price. “We repeat it,” Cronje wrote in a blog post. The financial value of YFI is 0. No pre-mining, no sales, no you can’t buy, no it won’t be on uniswap, no auction. None of this exists. ” He said that the best way to have a YFI token with a value of 0 is to earn it, not buy it.
According to the information provided by crypto analyst Andrew Kang, when the first Balancer pool was launched, the price of YFI was $ 3.
YFI is bought and sold at the level of $ 15.350 in the minutes of the news. Another point that should be underlined is that YFI’s supply is limited to 30 thousand.