Yearn Insurance Farming

Yearn Insurance Farming

WHAT IS yEarn?
yEarn is a liquidity aggregator providing automated yield farming strategy through a number of lending pools. The protocol’s most well-known pool, yearn finance, shifts capital between top DeFi lending protocol like Compound, Aave and dYdX – ultimately geared at providing lenders the best return on liquidity.

yEarn also created a Curve's Y pool, a lending pool consisting of top stablecoins like USDC, DAI, TUSD and USDT, and is used for the BUSD Curve pool thanks to yEarn’s interest-earning yToken standard.

yEarn recently released a native governance token, YFI (Yield Farmj g Index), which is earned through liquidity money on a number of different pools. YFI is earned by staking proof of liquidity and is one of the only DeFi tokens which was launched with no premine and no initial DEX offering.

BACKGROUND
yEarn was founded by Andre Cronje in February of 2020. yEarn never raised funds as Andre says he builds software for himself.

Andre is notorious for “testing in prod” – meaning all of his contracts are pushed directly to mainnet without receiving formal audits. He is open about losing money to his very own smart contract, as well as openly stating for people to "not to use this software" in regards to certain portions of yEarn.

Andre has since handed control of virtually every aspect of the protocol over to the community, including governance and the ability to mint new YFI. Now, the yEarn protocol rest in the hands of the community.

Until July 16, Yearn was a simple DeFi credit aggregator designed to optimize user profitability. It had $8 million in assets under management, and since its launch in January, it has earned a combined 10.58 % profit per annum for its liquidity providers. But most importantly, it did not have a token.

Everything changed the next day, on July 17, when yearn.finance founder, Andre Cronje, published a notorious blog post called “YFI“. In an effort to transfer control over the yearn.finance protocol to the users, Cronje developed a plan for users to manage YFI by providing liquidity to Curve and Balancer pools. This may have been the first truly honest launch in years when Cronje did not allocate YFI tokens to himself, abandoning the funding rounds, tokens for project advisers, pre-mines, and the like. All YFI tokens were distributed to the yearn.finance protocol users.

A couple of months later, a supposedly “completely useless token” is worth $670 million and drives an “industrial-scale agricultural machine” of $770 million (and over a billion USD at peak) and provides token holders with about 20 million dollars of profit a year.

DIFFERENTIAL
the YIF will be a governance token of the Yearn Insurance Farming protocol that will strategically bring a whole range of opportunities through its project that will bring opportunities for community members thus offering the chance that all Pool earnings will be used to purchase tokens from $ YIF from the market and distribute among the community offering immediate liquidity, these tokens themselves can also be burned if the community decides directly and objectively the governance will be in the hands of its users intelligently because YIF FINANCE will be a project aimed at and leveraged by Defi technology as an income aggregator as the YIF protocol will be an intelligent contract insurance provider in this way the insurance exchange pool for developers to offer a trust to all its supporters on an ongoing basis and would be so through Groups of agricultural production everyone will be able to win production awards in YIF that way with the use of utilization and arbitration opportunities to bring the largest possible APY to your farmers the YIF protocol aims to establish an attractive form of agricultural pool insurance to earn pool rewards for the pool’s contribution thus making it a more viable and leveraged form of production with the guarantee established sale of the YIF protocol

YIF Vault
YIF holders will have the opportunity to stake their $YIF tokens in the vaults and get rewards as the YIF tokens. The staked token will be used to farm other protocols for yield.

INSURED SWAP
First ever yield farming protocol offering an insured swap with the pool of limited supply tokens. While there are several other swap protocols where pool creators offer a swap for a number for tokens to ethereum, most of them ends up with the “rug pull”We aim to bring Trust, Legitimacy and Peace of Mind in the Defi ecosystem.

Token Sale
Join our Public Pre-Sale. Pre-sale will be live on bounce.finance. Details will be announced on our official channels. Uniswap Liquidity will provided immediately after the pre-sale.

Token Distribution
Eth raised in pre-sale will be used to provide Uniswap liquidity, and to further development and expansion of the YIF protocol. There will no token allocation for the marketing or team. Only, amount raised in the pre-sale will be used for that purposes. All unsold tokens will be burned. Remaining $YIF tokens will be distributed in the farming pools as the yield awards gradually.

Starting Time: SEP 23, 2020
Ending Time : SEP 23, 2020
Soft cap : 600 ETH
Hard cap : 1,000 ETH
Token : YIF Token
Exchange Rate : 1 ETH = 90 YIF
Token Sale : 90,000 YIF

For more Info
https://www.yif.finance/
https://twitter.com/yiffinance
https://medium.com/@yif.finance
https://t.me/yifofficial

Author
https://bitcointalk.org/index.php?action=profile;u=2850988