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YFI coin issuance price and total issuance volume in one article
With a fixed issuance volume of 30,000 YFI tokens, the Yearn Finance protocol rewards liquidity providers with 75% of the tokens.
Oct 03, 2024 at 05:06 am
YFI Coin Issuance Details
Issuance Price:
The Yearn Finance (YFI) token was not sold through an initial coin offering (ICO) or a pre-sale. Instead, it was distributed to liquidity providers (LPs) of the Yearn Finance protocol. The distribution mechanism was designed to reward LPs for providing liquidity to the protocol and incentivize them to participate in governance.
Total Issuance Volume:
The total issuance volume of YFI is 30,000 tokens. This is fixed and cannot be changed.
Distribution Details:
The YFI tokens were distributed as follows:
- Liquidity providers (LPs): 75% of the tokens (22,500 YFI) were distributed to LPs who deposited their assets into various Yearn Finance vaults.
- Founders and advisors: 12.5% of the tokens (3,750 YFI) were distributed to the founders and advisors of Yearn Finance.
- Community treasury: 12.5% of the tokens (3,750 YFI) were allocated to the Yearn Finance community treasury for future governance and development purposes.
Purpose of YFI Token:
The YFI token serves several purposes:
- Governance: YFI holders have the right to participate in the governance of the Yearn Finance protocol. They can vote on proposals and make decisions that affect the protocol's development.
- Incentive: YFI is used to incentivize LPs to provide liquidity to the Yearn Finance vaults. LPs earn YFI rewards for contributing their assets to the protocol.
- Utility: YFI can be used as a medium of exchange within the Yearn Finance ecosystem. For example, it can be used to pay for vault management fees or to exchange for other assets.
Conclusion:
The YFI token was issued to reward liquidity providers and incentivize governance participation in the Yearn Finance protocol. The total issuance volume is fixed at 30,000 tokens, and the distribution plan allocated 75% to LPs, 12.5% to founders and advisors, and 12.5% to the community treasury.
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