What is Yearn.finance (YFI)?
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Written by Ignat
Updated over a week ago

Yearn.finance is an aggregator service for DeFi investors that allows them to maximise profits from yield farming. Its goal is to make the growing DeFi space more approachable for those who would like to participate but have no time or desire to immerse themselves in the topic. To perform its function, Yearn.finance utilises such tools as Curve, Aave etc.

The native token of Yearn.finance, YFI, has a fixed supply of 36,666. It's the first asset that managed to overtake BTC in terms of price (its current all-time high is $82,745). A tool for coordination between Yearn's contributors, community and associated protocols, YFI is earned through providing liquidity; its holders also have government privileges. It’s worth noting that as a DeFi project, Yearn.finance implies a certain risk, especially for less experienced market players.

Check out this article to choose the most convenient way to buy cryptocurrencies, including ANKR.

Important: please note that YFI deposits and withdrawals are currently not supported. You can buy, exchange and store YFI. If you'd like to receive or send it, you'll have to first exchange it for a currency which supports crypto deposits and withdrawals – you can always check with the list in this article.

In compliance with the Financial Promotion Act which came into force on 8 October, 2023, at 8 AM UTC, some account functionality is temporarily limited for the Cryptopay customers with verified UK residency.
Check what services are available: Service availability in the UK

The world of crypto is vast and intricate - if you feel overwhelmed, check out Cryptopay Learn. It is a perfect place to start for beginners trying to understand the basics of crypto. For more experienced crypto enthusiasts, this is also an excellent opportunity to brush up on their knowledge. The more you learn, the more you earn!

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