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About Non-Fungible Yearn

Non-Fungible Yearn (NFY) is a DeFi platform that uses NFT tokens to make Yield Farming more flexible and secure by protecting users' wallets. As cited on its website, the platform creates the first transferable stake and makes Yield Farming secure. Non-Fungible Yearn aims to utilize the full potential of NFT tokens in the DeFi sector. As of now, DeFi is influenced by ERC-20 tokens, which are fungible. A fungible token means all tokens are the same and are not unique. There are token standards that get rarely mentioned, like ERC-721. The Non-Fungible Yearn platform aims to re-consider how these tokens have been used by creating a use case for them in DeFi. ERC-721 is an open standard to build unique tokens on the Ethereum blockchain.

Furthermore, the platform permits users to stake their various cryptocurrency holdings in multiple pools to earn NFY. NFY is the governance token of the platform. The NFY platform seeks to build an ecosystem where instead of a stake tied to a users' account, it is linked to a transferable NFT. The user, when stakes on the NFY platform, an NFT is minted, and details of the user's stake get stored in the NFT by referencing its unique token id. Minting is a method of producing coins for circulation or sale to collectors. Besides, users are provided with whether they want their rewards to be added to their NFTs or redeem their rewards. Moreover, NFY creates a secondary market for already staked tokens. Users can trade their stake directly rather than unstaking.

Additionally, when a user stakes their NFY liquidity token in the platform, it gets locked in the platform forever. Liquidity is the efficiency with which an asset gets converted into cash without affecting the market price. NFY aims to be a pioneer and the first one in the masses to have the ability of NFTs and the ERC-721 standard in DeFi. However, the platform charges no transaction fees while transferring NFY or NFT. Still, it seeks to have a fee in NFY when utilizing the trading platform.

According to the link on its website, the total supply of NFY is one hundred thousand.

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Spain News about Non-Fungible Yearn

BeInCrypto • May 02, 24

Top VCs Join EYWA’s Seed Round Led by Curve’s Founder

EYWA, a consensus bridge that secures transactions across multiple protocols, has raised a total of $7 million as it delivers the new era of Web3 interoperability. The investment has been led by Curve Finance founder Michael Egorov — with the project recently attracting two new backers: Fenbushi ...

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The Defiant • May 02, 24

Crypto Markets Bounce After Fed Leaves Interest Rates Unchanged

Bitcoin and Ether are up 4% in the past 24 hours, while Solana has surged 12%.

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Tether’s Record $4.5 Billion Q1 Profit Highlights Its Dominance of the Stablecoin Industry

Tether’s record first-quarter profit is an indicator of its ongoing dominance, stablecoin experts say, keeping the stablecoin issuer in pole position as regulation attempts mount. Though Tether recorded a profit of $4.52 billion in the first quarter, with most of that coming from its gains on its...

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DL News • May 02, 24

Solana surge to $140 shows investors couldn’t care less about the Fed

Hawkish or dovish, for Solana investors, it's still all just gibberish.

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Decrypt • May 02, 24

Ethereum and Solana Meme Coin Prices Surge Amid Modest Bitcoin Gains

Bitcoin is rising after a rough week, but meme coins like Pepe, Bonk, Dogwifhat, and Dogecoin are the biggest winners today.

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The Block • May 02, 24

Bitcoin and ether rally hinges on US economic policy’s ability to restrain dollar strength, analysts say

Bitcoin and ether have both rallied back above the $59,000 and $3,000 marks, respectively, according to The Block's Prices Page.

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Non-Fungible Yearn is on the rise this week.

The price of Non-Fungible Yearn has increased by 100.00% in the last hour and increased by 100.00% in the past 24 hours. Non-Fungible Yearn’s price has also risen by 100.00% in the past week.

FAQ

What is the current price of Non-Fungible Yearn?

We update our Non-Fungible Yearn to EUR currency in real-time. Get the live price of Non-Fungible Yearn on Coinbase.

What other assets are similar to Non-Fungible Yearn?

Assets that have a similar market cap to Non-Fungible Yearn include Ethereum, Tether, BNB, and many others. To see a full list, see our comparable market cap assets.

Can I buy Non-Fungible Yearn on Coinbase?

Yes, Non-Fungible Yearn is currently available on Coinbase wallet. For more detailed instructions, check out our helpful how to buy Non-Fungible Yearn guide.