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What is the issue volume of YFI coin? One article to introduce the application scenarios of YFI coin
The total issuance of YFI coins is capped at 30,000, ensuring a limited supply and potential for value appreciation.
Oct 06, 2024 at 02:18 am
What is the Issuance Volume of YFI Coin?
Understanding YFI Coin
- YFI is the native token of Yearn.finance, a decentralized finance (DeFi) platform that automates yield farming strategies.
- It serves as a governance token, giving holders voting rights on platform proposals.
Total Issuance Volume
- The total issuance of YFI coins is capped at 30,000.
- This means that there will never be more than 30,000 YFI coins in circulation.
Initial Distribution
- Initially, 60% of the YFI supply (18,000 coins) was distributed to users who provided liquidity to Yearn's Curve pool.
- The remaining 40% (12,000 coins) was allocated to the project's team and treasury.
Current Supply
- As of February 2023, there are approximately 29,948 YFI coins in circulation.
Application Scenarios of YFI Coin
Governance
- YFI holders can participate in on-chain governance by voting on platform proposals.
- This allows them to influence the direction of Yearn.finance and its products.
Yield Farming
- YFI can be staked in Yield Farming pools to earn additional YFI tokens as rewards.
- This provides users with a passive income opportunity.
Liquidity Provision
- YFI can be used to provide liquidity to Uniswap pools.
- Liquidity providers earn trading fees from users who exchange tokens in these pools.
Collateral
- YFI can be used as collateral on lending platforms like Compound and Aave.
- This allows users to borrow other assets while using YFI as security.
Store of Value
- Due to its limited supply and high demand, YFI has become a valuable store of value asset.
- Holders can store YFI in their wallets or on exchanges to preserve its value over time.
Speculation
- YFI has gained popularity among traders and speculators.
- Its price can fluctuate significantly based on market demand and sentiment.
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