What Is 🌟Yearn.Finance (YFI)🌟?
Yearn.finance is an aggregator service for decentralized finance (DeFi) investors, using automation to allow them to maximize profits from yield farming.
Its goal is to simplify the ever-expanding DeFi space for investors who are not technically minded or who wish to interact in a less committal manner than serious traders.
Launched in February 2020, the service, formerly known as iEarn, has seen huge growth in recent months as new products debuted and developers released in-house token YFI.
❇️Who Are the Founders of Yearn.Finance?
Yearn.finance is the brainchild of Andre Cronje. After leaving the iEarn project in February 2020, Cronje returned to oversee a rebirth, with new tools emerging and YFI going live in July.
❇️What Makes Yearn.Finance Unique?
Yearn.finance set out to simplify DeFi investment and activities such as yield farming for the broader investor sector.
The platform makes use of various bespoke tools to act as an aggregator for DeFi protocols such as Curve, Compound and Aave, bringing those who stake cryptocurrency the highest possible yield.
New features continue to be rolled out, these aiming, among other things, to help preserve the long-term value of the platform.
Yearn.finance makes a profit by charging withdrawal fees, currently 0.5% at the end of September 2020, as well as 5% gas subsidization fees. Due to its governance model, these can technically be changed by consensus at any time.
The target market for yearn.finance is investors who do not have the time to study the increasingly complex DeFi phenomenon from scratch, or who wish to optimize their returns.
By Confirming the math, Yearn Finance has a maximum supply of 30,000 YFI compared to Bitcoin's 21 Million. Therefore, YFI is very much scarcer than Bitcoin by a factor of 700
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✅TECHNICAL ANALYSIS
As we can see in the weekly timeframe logarithmic chart for yfi , The current price roam about 36,700 $,
We can draw two channels to keep the price in the range. It is likely to hit the bottom of the current channel and be pumped upwards, or even the lower channel, which can be considered as a stronger support. It will react.
The green areas also act as support that can be supported if the price exits the channel. Price targets of 80-90K are considered.However the next goal can be achieved if the DeFi market flourishes again.
Anyway, my constant suggestion to my dear community is to buy step by step (or in a few steps) , With proper capital and risk management and by setting stop-loss , To reduce their risk, because Because this crazy market also depends on the odds and there is no certainty.
reference:coinmarketcap
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👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades
👍plz hit that damn like button if you like it
Yearn.finance is an aggregator service for decentralized finance (DeFi) investors, using automation to allow them to maximize profits from yield farming.
Its goal is to simplify the ever-expanding DeFi space for investors who are not technically minded or who wish to interact in a less committal manner than serious traders.
Launched in February 2020, the service, formerly known as iEarn, has seen huge growth in recent months as new products debuted and developers released in-house token YFI.
❇️Who Are the Founders of Yearn.Finance?
Yearn.finance is the brainchild of Andre Cronje. After leaving the iEarn project in February 2020, Cronje returned to oversee a rebirth, with new tools emerging and YFI going live in July.
❇️What Makes Yearn.Finance Unique?
Yearn.finance set out to simplify DeFi investment and activities such as yield farming for the broader investor sector.
The platform makes use of various bespoke tools to act as an aggregator for DeFi protocols such as Curve, Compound and Aave, bringing those who stake cryptocurrency the highest possible yield.
New features continue to be rolled out, these aiming, among other things, to help preserve the long-term value of the platform.
Yearn.finance makes a profit by charging withdrawal fees, currently 0.5% at the end of September 2020, as well as 5% gas subsidization fees. Due to its governance model, these can technically be changed by consensus at any time.
The target market for yearn.finance is investors who do not have the time to study the increasingly complex DeFi phenomenon from scratch, or who wish to optimize their returns.
By Confirming the math, Yearn Finance has a maximum supply of 30,000 YFI compared to Bitcoin's 21 Million. Therefore, YFI is very much scarcer than Bitcoin by a factor of 700
-------------------------------------------------------------------------------------------------------------------
✅TECHNICAL ANALYSIS
As we can see in the weekly timeframe logarithmic chart for yfi , The current price roam about 36,700 $,
We can draw two channels to keep the price in the range. It is likely to hit the bottom of the current channel and be pumped upwards, or even the lower channel, which can be considered as a stronger support. It will react.
The green areas also act as support that can be supported if the price exits the channel. Price targets of 80-90K are considered.However the next goal can be achieved if the DeFi market flourishes again.
Anyway, my constant suggestion to my dear community is to buy step by step (or in a few steps) , With proper capital and risk management and by setting stop-loss , To reduce their risk, because Because this crazy market also depends on the odds and there is no certainty.
reference:coinmarketcap
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades
👍plz hit that damn like button if you like it
