![]() According to our YFI live price chart, this figure marks both its 2021 and all-time high. In the following month, May 2021, YFI's price skyrocketed to $95,000 on the back of a marketwide boom, achieving a fully-diluted market valuation of a whopping $3.4 billion. Thereafter, it began a slow and steady climb and had breached $57,000 by the end of April 2021. However, YFI then gave up most of those gains over the following weeks, bottoming out at around $7,500 by the start of November. However, them redefining their tokenomics had a big part to play in the price surge. This rapid increase happened in less than two months as the platform saw massive interest and rapidly gained users. From a yearly low of about $30 in July 2020, YFI's price shot up to a yearly high of nearly $44,000 in September 2020. YFI is a very volatile cryptocurrency, with its price rising and falling very sharply within short periods of time. ![]() Holders of the token can vote on and submit proposals to modify the protocol and earn a portion of its transaction fees. YFI, the governance token of the Yearn Finance protocol, has a maximum supply of just 36,666 tokens. These are token pools that follow investment strategies that often involve multiple other DeFi protocols. The Yearn ecosystem encompasses a wide array of DeFi products, with the most popular being yVaults. These trading strategies are developed and modified by the Yearn Finance community. The Ethereum-based protocol utilizes automated trading and investment strategies deployed across various DeFi protocols to achieve this purpose. Founded in 2020 by prominent Ethereum developer Andre Cronje, Yearn Finance is a suite of Decentralized Finance (DeFi) products that aim to help users maximize their returns from crypto deposits by cleverly leveraging multiple DeFi protocols and taking minimal risk.
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