DFI.MONEY, also known as YFII, is a fork of the popular decentralized finance (DeFi) resource platform yearn.finance (YFI). Launched in July 2020, this project aims to optimize returns for DeFi investors by adhering to changes proposed in an upgrade plan known as YIP-8.
What is DFI Money (YFII)?
DFI.MONEY, in addition to protocol changes, has launched new products, including one described as the “killer product” of the Vault. The native token of DFI.MONEY, YFII, is a fixed supply token earned by liquidity providers based on their interactions with the network.
On the other hand, DFI.MONEY essentially plays the same role in the DeFi market as yearn.finance but is subject to different protocol rules and some new features for its token. Therefore, the project targets both the original users of its predecessor who voted in favor of YIP-8 and new DeFi investors looking to maximize their returns through liquidity provision.
The DFI.MONEY website states that the protocol is community-owned and by default does not offer incentives like developer rewards. Users can participate in one or both of two liquidity pools, involving Curve (CFI) or Balancer (BAL), and earn YFII tokens as a reward for providing liquidity.
DFI.MONEY has also introduced Vault, a new feature that aims to automatically obtain the highest yield for any token based on user-submitted strategies, without manual transaction adjustments by users.
In addition, DFI.MONEY emerged as a hard fork of yearn.finance, a DeFi resource created by Andre Cronje. Cronje launched iEarn, the original form of yearn.finance, in early 2020. However, he returned to continue its development, and its popularity significantly increased as DeFi became more widespread.
As the popularity of decentralized finance (DeFi) grows, an increase in the value of YFII is observed.
At the time of writing, DFI Money Coin, trading at $2,250, is also being traded at 0.04458 BTC in the YFII BTC trading pair. According to CoinMarketCap data, DFI Money Coin, ranked 299th with a trading volume of $86,864,005, is also worth noting that its trading volume in the last 24 hours is $124,600,219.
Additionally, DFI Money Coin, which broke a record on September 1, 2020, with $9,405, also saw its lowest level at $96.29 on August 3, 2020. Currently, there are 38,596 DFI Money Coins in circulation, and this number is expected to reach a maximum of 39,375 DFI Money Coins.
Where to Buy YFII Coin?
YFII Coin can be purchased quickly and securely through Binance, the world’s largest cryptocurrency trading platform by trading volume. Binance
To buy YFII Coin, one must first register with Binance and then send fiat currency. After sending a fiat currency like the US Dollar, one can buy Binance Coin (BNB), Tether (USDT), BUSD, or Bitcoin (BTC) and perform the buying transaction in the YFII trading pair.
Additionally, on Binance, users can place an order to buy at a price lower than the market value by using the Limit tab and entering the amount and price they wish to buy at.
