Yearn Finance

Yearn Finance price of leading cryptocurrency is up nearly 45% in 24 hours, and it appears to be thanks to the team’s new dog token offering a bi-directional peg to YFI. YFI attained a new high of over $78,000 around 14:30 coordinated universal time (10:30 a.m. ET) and was near $74,500 at press time. A developer formed a dog token known as Woofy. The token is swappable for YFI tokens on a million-to-1 basis. WOOFY’s exclusive obligation is to offer…

Leading digital-asset investment firm Grayscale Investments has announced that it is considering several crypto-assets for potential product offerings. This, according to the firm, is part of its aims to diversify its current product portfolio.  23 Cryptocurrencies Under Consideration Grayscale revealed this latest development in a press release on February 26, 2021. According to the report, the firm is currently exploring 23 crypto-assets to expand its current investment products for its clients.  Several top cryptocurrencies are included, including smart contract-based platforms…

Yearn.finance was left troubled on Thursday evening as an unidentified individual stole $2.8 million from a shared digital "vault" on the investment website. The hacker exploited the vault using Aave, a platform that allows users to make flash loans to borrow and lend money without collateral. Yearn.finance has not made any comments on the hack, but this proves that blockchain technology is hackable despite previous beliefs. This incident further shows that, like any other technology, it has its vulnerabilities. How…

The current bullish sentiments in the crypto market have been a major talking point in recent weeks. Bitcoin's bullish trend has led to a ripple effect in the market's decentralized finance (DeFi) sector. Total Locked In Value hits $17 billion The Total Locked in Value has witnessed an exponential increase in the past few days. According to data from DeFi Pulse, the total TVL hit a record high of $17 billion in today's early hours. Looking at the data, over…

Less than 24 hours after news broke, that decentralized finance (DeFi) platform Yearn Finance (YFI) had partnered with Cream Finance protocol. It has announced a new merger with DeFi protocol Cover. In a blog post published on Nov 28. Yearn founder Andre Cronje revealed the merger between the two DeFi protocols. He further stated that the merger was a natural one since Yearn developers worked with Cover protocol developers since its inception. Cover will provide backstop coverage for Yearn DeFi…

The decentralized finance (DeFi) sector expands at lightning speed and becomes ever more relevant in the new digital economy. However, as it evolves, some of its initial purposes lose contour and relevancy. One of these now-fading goals is offering broad access to anyone who wants to trade, invest, or deposit assets outside the traditional financial system. This evolution is not user-inflicted in any way. The mechanisms that power the DeFi ecosystem increase in complexity, making the market less approachable for…