Yearn Finance Price Analysis – 12 March 2021
Yearn Finance Price Analysis - 12 March 2021
Yearn.Finance (YFI) is a decentralized finance (DeFi) platform with a native governance token used for voting rights and staking rewards to holders. The network is underpinned by the Yearn protocol, a yield optimizer that aims to maximize yields for a user’s crypto holdings by automatically switching funds across a range of lending protocols.
Developer Andre Cronje built the protocol in early 2020 after looking for a way to automate the process of finding the highest possible yields on his stablecoin holdings. Stablecoins like DAI (DAI), Tether (USDT), USD-Coin (USDC) can be deposited in return for yields on a number of platforms like Compound, Aave, Fulcrum, or dYdX, with each offering unique APY’s.
Technical Analysis
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