What is DFI.Money (YFII)?
DFI.Money (YFII) is a multi-chain DeFi (Aggregator) aggregator whose role is to provide profit optimization services to farmers, stockers, and lenders. With DFI.Money, investors can proactively move their money between lending protocols like Aave and Compound for the highest returns.
The goal of this project is to simplify DeFi investing by automatically placing your crypto assets in high-yielding accounts.
What is the problem DFI.Money (YFII) solves?
The complexity of DeFi
DeFi is a huge space and not very user-friendly for newbies. The terms and services are also enough to make inexperienced investors nervous. Additionally, services like Yield Farming require investors to constantly monitor their assets to ensure that they are maximizing returns. DFI.Money introduces more affordable solutions to access these pools.
The platform provides one-click asset transfer and no registration is required. Users only need to connect their Metamask wallet to start using DFI.Money services. This approach eliminates the cumbersome registration process found on most CEXs today.
Overall, DFI.Money is designed to reduce the complexity for DeFi investors.
Low profit
In addition to complexity, another problem that DFI.Money has to deal with its low profitability. It is not easy to monitor multiple pools across platforms. As a result, most investors will just stick with a less efficient pool or use other methods. DFI.Money allows anyone to set up their own investment to transfer money between lending protocols like Aave and Compound.
The benefits of DFI.Money
Easy to join
DFI.Money brings a lot of great opportunities and benefits to the market. The ability to automatically search for optimal high returns is a big plus for any yield farming participant.
In addition, the market operates in an open and decentralized manner. Anyone from all over the world can join DFI.Money and start generating profits based on their assets.
Low transaction fees
One of the biggest advantages of DFI.Money is the low transaction fees. Manually switching pool farms between different platforms may result in increased fees. These fees can cut into your profits. DFI.Money offers an alternative that simplifies the whole process and improves your profits.
Multi-Chain
DFI.Money operates as a multi-chain DeFi ecosystem. The network provides users with access to different pools in the Ethereum blockchain ecosystem and Binance Smart Chain. This strategy helps to improve liquidity and streamline the transfer of assets across these networks via a bridge.
Main function
DFI.Money offers developers the opportunity to build aggregated liquidity, leveraged trading (leveraged trading), AMM products, and more. The protocol also gives users the option to have their rewards paid out. USDC, USDT, BUSD, and DAI are the four major currencies.
Vault
The Yield Farming Vaults is the main service provided by DFI.Money. These Smart Contracts will allow investors to increase their profits. The vault is automated and gives you rewards of YFII, CRV, and BAL tokens. This diversified approach improves investor performance.
Mining Aggregator
DFI.Money Mining Aggregator allows anyone to maximize their mining efforts. The system is set up to automatically configure the best DEFI mining earnings. That makes DeFi mining more efficient and provides users with more stable profits.
Liquidity Pool
Liquidity Pools are large Smart Contracts that allow startups to access crowdfunding. Liquidity pools are very popular in the DeFi sector and DFI. Money streamlines monitoring and participation in these pools.
Aggregator of Peer-to-Peer Loans
Those looking to earn rewards through a P2P lending platform will also benefit greatly from integrating DFI.Money into their strategy. These peer-to-peer lending platforms eliminate middlemen and banks. As such, they are popular for providing open access to global funding.
YFII
YFII is the main governance token of the network. Users must have YFII tokens to participate in the DFI.Money ecosystem. YFII also plays an important role in the governance of the network.
Community Governance
YFII token holders have voting rights on the platform. They can suggest future upgrades and changes to DFI.through a community-managed mechanism. In the DFI.Money system, the more YFII tokens you hold, the more weight your vote has.
Learn about the YFII token
What is the YFII token used for?
- Reward: Participate in providing liquidity to the pools to earn rewards in the form of YFII tokens.
- Governance: YFII is used to vote on new decisions and implementations in the DFI.Money ecosystem.
Basic information about YFII
DFI.Money Token is a cryptocurrency.
Symbol: YFII
Blockchain: Ethereum
Standard: ERC-20
Contract: 0xa1d0e215a23d7030842fc67ce582a6afa3ccab83
Type: Utility, Governance
40,000 YFII total supply
Circulation Supply: 39,732 YFII
Token Allocation
All YFII tokens are distributed to users through Liquidity Mining.
Where to store and buy YFII tokens?
YFII is an ERC-20 standard token. Therefore, you can store this token on many popular wallets on the Ethereum network, such as Coinbase Wallet, Coin98 Wallet, Metamask, Trust Wallet, Ledger Nano X, Trezor, etc.
Alternatively, you can also host YFII directly on some of the exchanges that support it.
Currently, you can buy and sell BOSON tokens on a number of exchanges, such as Binance, MEXC, BKEX,…
Platforms like DFI.Money is proving why aggregator protocols are so important in the DeFi sector. In addition, DFI.Money is still adding various aggregation services to improve the overall functionality of the protocol. Therefore, this project promises to develop strongly in the near future.
Development team, investors, and partners
Development team
DFI.Money originated as a hard fork of the Yearn. Finance protocol—a DeFi profit aggregator created by Andre Cronje.
Investors and partners
DFI.Money has partnerships with famous platforms in the industry such as NEAR, Oasis Foundation, SIL Finance, Binance Chain, Chainlink, Acala, Polkadot, Nest, etc.
See ya in the next article !
Don’t forget to follow useful articles about Crypto Market from team Holding B !!!
- Telegram Channel: https://t.me/HoldingBcom
- Telegram Group: https://t.me/HoldingB
- Website: https://holdingb.com/
- Twitter: https://twitter.com/HoldingBcom
- Facebook: https://www.facebook.com/holdingbcom
){kind=link}