yEarn Finance Launched a Governance Token With No Pre-Mine
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yEarn Finance Launched a Governance Token With No Pre-Mine

July 20, 2020      Vandana Malik

yEarn Finance which was earlier iEarn Finance has recently launched a governance token. This token has been launched with no pre-mine and is offering 1000% APY to its investors. Through this, the token is able to gain the title of most profitable pool in DeFi. The firm was earlier launched as iEarn Finance, a yield aggregator which was designed to maximise the interest rate earnings. This was done through redirecting all the tokens to the best lending markets which result in maximum interest.

yEarn Finance Joins DeFi’s yield farming movement 

yEarn Finance has recently joined the yield farming movement of DeFi which is considered to be a great move for the firm. It has been revealed that the product suite of the firm includes several tools to short DAI. Along with this, these tools are capable of a lot more things. The compound is one of the most valuable and important projects of the DeFi sector. Now if the yield farmers will be depositing their tokens into Compound, they will be able to gain more interest. Not only interest, but they will also receive COMP rewards.

ySwap exchange introduces a transfer token

The Automated Market Maker, AMM of the yEarn Finance that is ySwap exchange also introduces a transfer token. The major purpose of this token will be to represent the liquidity of an asset, be it aBAT, cBAT or BAT. This will be much different from Uniswap as there, the pools are between ERC-20 token and ETH only. While with YSwap, all the pools will be linked to the transfer tokens. Through this, the yield farmers will be able to overcome the difficult points along with other AMMs. The major purpose of yEarn to bring in and launch the governance token was to encourage democratized decision making in the whole DeFi ecosystem.

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#Compound #DeFi’s yield farming movement #Governance Token With No Pre-Mine #iEarn Finance #maximise the interest rate #yEarn #ySwap exchange
Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.