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Blockchain DeFi Ethereum YFI

Why Yearn Finance YFI Could Cross $50K This Dec With V2 Launch

Posted On December 7, 2020 Taha Zafar 0

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The long awaited second iteration of yield farming and DeFi strategy platform Yearn Finance was launched on 7th Dec. In the coming weeks, it will be deployed gradually and it is being expected that the complete deployment would finish by the end of Dec 2020. Besides bringing major capability enhancements to the premier Decentralized Finance (DeFi) protocol and is highly likely to push the YFI price past $50K, if not more. Here’s why.

Yearn Finance V2 Master Plan / Blueprint - Credit to @vasa_develop
Yearn Finance V2 Master Plan / Blueprint – Credit to @vasa_develop

YFI price has so far not responded much to the V2 launch event, as it currently hovers around the $28K mark. However that is likely to change in the coming weeks as more Yearn Finance V2 features get deployed. It must be noted that V2 introduces new benefits and value creation mechanisms for the YFI holders.

Yearn Finance YFI - CoinGecko Last 90 Days Data
Yearn Finance YFI – CoinGecko Last 90 Days Data

Now, YFI previous ATH was recorded at $43K and that was only with V1 simple vaults. Now the system has been strengthened with tweaking the basic infrastructure and introduction of a unique synergy of yVaults, controllers and strategies, which work in combination to generate higher returns for the platform users. This time, the psychological mark of $50K doesn’t seem far.

https://twitter.com/CryptoHornHairs/status/1335326333237334017

Once deployed in full, YFI V2 will allow anyone to submit a strategy and profit from it. Lately, the Yearn Finance platform has joined hands with major DeFi teams such as Cover, Sushi Swap and Cream Finance etc, which will allow the platform to expand it’s reach and enhance it’s functionality greatly. It remains to be seen however, as to when the YFI price rises to match with the platform’s potential.

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This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)

Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.

Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future. 

#decentralized finance (defi)#yearn.finance#YFI token#YFI V2



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