$435.50

DFI.MONEY, also known as YFII, is a fork of the well-known DeFi aggregator yearn.finance (YFI). It started in July 2020 with the goal of improving returns for DeFi investors while incorporating changes from an upgrade proposal called YIP-8. Beyond protocol adjustments, DFI.MONEY introduced new products, notably the Vault, which it considers its flagship feature. The platform's native token, YFII, has a fixed supply and is earned by liquidity providers based on their participation in the network.

DFI.MONEY came about as a hard fork of yearn.finance, a DeFi aggregator originally created by Andre Cronje. Cronje initially left the project in early 2020 but returned to continue its development, leading to its growth as DeFi gained traction. In July 2020, after YFI mining ended, a proposal to protect liquidity providers from large holders received 80% support but wasn't adopted due to failing to reach the 33% quorum. Consequently, some users forked the protocol to create DFI.MONEY with its own token, YFII, implementing the YIP-8 proposal that reduces rewards weekly, similar to Bitcoin's halving pattern.

DFI.MONEY serves a similar purpose in DeFi as yearn.finance but operates under different token rules and includes new features. It appeals to those who supported YIP-8 and new investors seeking to maximize returns through liquidity provision. The platform is community-owned, with no default developer rewards. Users can join liquidity pools involving Curve (CRV) or Balancer (BAL) to earn YFII tokens. Additionally, DFI.MONEY introduced the Vault, which automatically implements user-submitted strategies to aim for the highest returns without manual transaction setup.

YFII is an ERC-20 token with a fixed supply of 40,000 tokens. According to YIP-8, there was no premine, presale, or developer allocation. The only way to earn YFII is by providing liquidity, with rewards decreasing weekly. Each of the two liquidity pools started with 20,000 YFII. The distribution schedule indicates that all tokens were distributed by the end of September 2020, ten weeks after the launch.

DFI.MONEY ensures security by guaranteeing a fixed supply of 40,000 YFII tokens that developers cannot alter. This was achieved by sending the minting keys to a 'blackhole' address, making them permanently inaccessible. The developers published transaction links to verify that the keys were transferred to this address, ensuring the supply cannot be manipulated.

YFII has become a widely traded token since its launch. As of October 2020, it is listed on several major exchanges, with trading pairs involving cryptocurrencies, stablecoins, and other DeFi tokens. Binance, OKEx, and Huobi Global are among the exchanges with significant YFII trading volume. For newcomers, guides are available to help understand how to buy cryptocurrencies like Bitcoin or others.