The shocking success of YFI

by in Cryptocurrency News

YFI growth, which is a governance token reached $38,682 a few days ago. It got ahead of Bitcoin almost twice. The factors that had an impact on this success are the listing to the Aave platform, powerful technicals and partnerships. The collaboration with the exchange FTX is expected in the near future. Besides, compared to Bitcoin, they are scarce in supply. There is an opinion that YFI will achieve a valuation of several billion dollars.

Yield farming allows users to vote on proposals for network upgrades. The users can invest in "vaults" and earn yields together. They can get a new token along with returning the usual.

The token is currently trading on 134 active market(s).

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What's surprising in all this is that initially tokens were described as valueless 0 supply by their creator Andre Cronje.