yearn is an aggregate financial management platform that supports multiple DeFi protocols, and will automatically move positions between protocols to help depositors obtain the highest financial returns. The platform aggregates Compound, dYdX, Aave, and DDEX protocols. When users make deposits, the platform will automatically allocate funds to the protocol with the highest current yield. Then yearn will give the user a proof of equity called yToken, through which the user can withdraw the tokens he originally deposited and the corresponding income.
YFI will stop mining on July 26. In order to ensure that the liquidity will not be withdrawn from mining on a large scale, the community governance YIP-8 has proposed a proposal to reduce the weekly additional issuance of each mining pool. Half. Although the proposal received a support rate of more than 80%, it failed because the total vote rate did not meet the minimum requirement of 33%. In order to ensure that Andre's genius concept and system are not controlled by the previous giant whale account, the YFI project was forked, code-named YFII. YFII adopts a halving mechanism similar to Bitcoin to ensure that tokens are distributed to community members more equitably.
The total amount of YFII is 60,000, each of the three pools is 20,000, and the initial state of each pool is 10,000. The output is halved every 7 days, and the corresponding proportion of YFII is allocated according to the liquidity provided by Defi users for each pool. , YFII will complete all distributions within the next 10 weeks.