How to Buy DFI.Money
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
The price of DFI.Money has risen by 17.37% in the past 7 days. The price increased by 26.64% in the last 24 hours. In just the past hour, the price shrunk by 7.40%. The current price is $1,321.88 per YFII. DFI.Money is 85.92% below the all time high of $9,385.42.
The current circulating supply is 38,596 YFII.
DFI.Money (YFII) is an Ethereum token that governs the DFI.Money platform. The platform is a fork of Yearn.finance and acts as a yield optimizer for tokens deposited to the platform.
is a yield farming platform that allows users to determine the products they want and enjoy the yields. The platform is now known as DFI.Money and acts as an aggregator that automatically puts users’ digital assets to work for high-yield profits. YFII project is a of Yearn Finance (YFI), a decentralized finance platform implemented through Yearn Improvement Proposals (YIPs). Essentially, when a community votes to make changes in the , a fork takes place. Yearn Finance II, or YFII For Innovative Investment, was formed to protect the protocol design from being spoiled by whales (big manipulators) when a community decision got rejected in YIP-8.
Contrary to the earlier protocol at Yearn Finance, YIP-8 proposed a different token emission model, one that is similar to the model. This proposal was the genesis of the YFII platform. According to the Bitcoin halving model, the number of Bitcoins issued to miners is cut in half every four years until all coins have been virtually . This model is designed to maintain a scarcity that will stop an endless creation of the asset. Likewise, the YFII platform proposes a weekly halving model, meaning the newly added tokens are reduced to half every seven days to facilitate a fair distribution to the community.
According to YFII’s platform, the vault is a standout offering for retail traders. is a farming pool aggregator that uses a set of strategy contracts to let traders earn a better (annual percentage rate), a measure to represent crypto returns. Essentially, the traders deposit the token supported by the platform and receive the reward that the strategy farms automatically. The vault offers a decentralized mechanism that lets anyone write strategies and implements the one with the most votes. In addition, the vault aims to cut down the gas or transaction fee as traders deposit and withdraw the tokens.
Further, vaults use a proof-of-deposit set of tokens called . These are interest-bearing tokens that users receive upon depositing funds into vaults. In a general sense, serves as a mode of verification between lenders and borrowers. For instance, a deposit of XY into the vault will yield iXY, which is interest bearing. Interestingly, the user does not have to withdraw their principal amount from the vault when they require funds, as they can opt to exchange their iTokens directly. Also, these interest-bearing tokens can be used as collateral for debts and staked in the DeFi space. Thus, these iTokens aim to prevent the outflow of funds from entering the YFII platform’s vault and provide users with a straightforward method to engage in YFII’s operations.
is a community-driven -based . According to the YFII , there were no ICO, pre-mining, or developer team rewards for the token. This community governance token aims to be the key to the diverse DeFi ecosystem’s farming yields. As a primary objective, the YFII token seeks to provide liquidity to the pool, the sole method to obtain YFII tokens. Further, the YFII community utilizes the token for income allocation and voting in the ecosystem.
The fork, Yearn Finance II or YFII, was formed in July 2020 due to a rejected proposal of erstwhile Yearn.Finance. The community created the platform to protect the idea of its initiator, , from being manipulated by other traders. The CRV and BAL (crypto tokens) pools opened on July 27 and July 28, 2020, respectively.
The YFII platform has pools that supply tokens through . To restate, in yield farming, one token into the pool grants another token as a reward. Accordingly, this platform offers two such pools and earns YFII by staking CRV and BAL tokens. CRV is the governance token of the Curve.fi platform, and BAL is the governance token of the Balancer platform. Providing liquidity to any of these pools using either CRV tokens or BAL tokens earns YFII tokens.
According to the YFII documentation, there is a of 40,000 YFII with 20,000 tokens in each pool. The platform seeks to distribute the tokens ten weeks following the launch date, starting with 10,000 tokens.
Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.
The price of 1 DFI.Money currently costs $1,321.88.
The current market cap of DFI.Money is $51.05M. A high market cap implies that the asset is highly valued by the market.
The all-time high of DFI.Money is $9,385.42. This all-time high is highest price paid for DFI.Money since it was launched.
Over the last 24 hours, the trading volume of DFI.Money is $193.37M.
The current circulating supply of DFI.Money is 39 thousand.
The median time that Coinbase customers hold DFI.Money before selling it or sending it to another account or address is 7 days.
DFI.Money ranks 161 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 80% of Coinbase users are buying DFI.Money. In other words, 80% of Coinbase customers have increased their net position in DFI.Money over the past 24 hours through trading.
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