Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Incentivised Posting / Shill => Topic started by: amberrrr789 on October 17, 2022, 05:16:36 PM
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The DeFi protocol known as YFII makes yield aggregation easier and uses a token halving methodology to assure fair token distribution. It is a branch of Yearn Finance, also referred to as YFI. We will go over everything you need to know about DFI.Money in this article.
Yearn Finance's Governance
The creators of YFII have decided to utilize a multi-signature governance architecture in which authority is divided among 11 signatories during the bootstrap phase. A gnosis-vault must have approval from 7 of the 11 signatories in order for a resolution to be accepted and put into effect. While authority is transferred to the YFII governance DAO, this is a temporary approach to speed up contract deployment (YFII voters get to vote on what to implement).
Pool and Vault of DFI.Money (Yearn Finance II)
Pools YFII
- Pool 1: YFII and CRV (the platform's governance token);
- Pool 2: YFII and BAL (the Balancer's governance token);
- Pool 3: Make a YFII investment to receive interest on the Yearn protocal (discontinued);
Vault YFII
A yield aggregator for farming pools, YFII Vault uses a variety of strategy contracts to target the highest APR. In essence, you deposit the token it supports and instantly receive the yield that the farming approach produced. Everyone is encouraged to submit their own ideas, and the community will implement the ones that receive the most support. Because all you need to do with the Vault is deposit and withdraw, it also saves you a ton of gas when dealing with complicated contract transactions.
Creators of Yearn Finance II
Andre Cronje, a South African programmer who has worked on more than 25 DeFi projects, is the creator of Yearn Finance (YFI), DFI.Money (YFII), and other DeFi initiatives. Yearn.finance's YFI token's mining and farming came to a stop in July 2020, and a proposal to safeguard liquidity from whales received 80% of the support of protocol users. However, it was not implemented since yEarn Improvement Proposal #8 (YIP-8) was denied and did not reach the necessary 33% quorum requirement of yearn.finance. It planned to extend the minting of the platform utility token YFI by an additional 2 months and with a weekly-halving emission curve. Due to this, some users decided to hard fork the protocol and establish DFI.MONEY, which has its own coin called YFII.
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YFII is actually quite a good decentralized finance project and actually do rate it high on my defi rankings. And even good defi rankers like defillama give it a good rate. So keep trusting it mate