top of page
Search (YFI) Holders Are Unprofitable

The shock is that many people believed in now they will leave

YFI, the governance token of DeFi yield optimizer, was rolled out without a pre-mine on July 17. As explained by founder Andre Cronje, the token could only be earned by using the protocol. Moreover, Cronje stressed that YFI was a "completely valueless" token and the team did not own any of it:

In further efforts to give up this control (mostly because we are lazy and don’t want to do it), we have released YFI, a completely valueless 0 supply token. We re-iterate, it has 0 financial value.

His words of caution did not stop DeFi speculators from pushing the token's YFI market cap to $100 mln within one week. Its gargantuan rally quickly began to capture the attention of the broader cryptocurrency industry, suckering in FOMO-driven holders. In just over a month, YFI replicated Bitcoin's nine-year bull run, surging from $34.53 to $20,000. It went on to eclipse BTC's all-time high with its current peak of $42,164 reached on Sept. 12.

See the world is crazy but the madness has been paid! Here

Recent Posts

See All

DeFi is near end ?

Cred Files for Bankruptcy Following Fraud Incident The suspended deposits and withdrawals were related to the company’s popular service called CredEarn, which allows crypto holders to deposit their cr


bottom of page