Changes must be signed by six out of the nine wallet signers in order to be implemented,” noted the protocol’s documentation. Proposals that generate majority support (>50% of the vote) are implemented by a nine-member multi-signature wallet. “The Yearn ecosystem is controlled by YFI token holders who submit and vote on off-chain proposals that govern the ecosystem. Yearn Finance is a decentralized application and is governed in a decentralized manner. The protocol has three core product offerings as it stands today: Vaults, Labs and Iron Bank. The protocol is maintained by various independent developers and is governed by YFI holders, according to documents on the project’s website. Yearn Finance (YFI) is a suite of products in Decentralized Finance (DeFi) that provides lending aggregation, yield generation and insurance on the Ethereum blockchain. Shopify is launching its beta version of an NFT marketplace.īitwise launches the world’s first NFT Index.

Yearn Finance boasts $5.24 billion in total value locked (TVL) and holds 6.79% of the Curve Finance governance token, veCRV.Ġ.77% of the YFI token supply has been repurchased by the DAO since the approval of the proposal on Nov. Yearn Finance is one of the leading yield aggregators in DeFi.

Bitwise launches the world’s first NFT Index.

Yearn Finance initiates YFI buyback program to distribute earnings to token holders.

Yfi market cap