/biz/ - Business & Finance

>>20773054
I bought this under $1000 because of a meme that claimed it would match BTC. What does it do? I don't know, and I don't care. But I'm going to make a fuckton of money off it, and there's nothing you nerds can do about it.

Andre please pump my fantom bags

>>20773167
It's the new frontier and the hardest form of money known to earth. Check out the pic, it shows how much all the top coins would cost if they had equal supply to YFI. Yearn is a top 5 project.

>>20773054
whoa, every single bucketshop wash trading LMAO

>>20773167
Around $100k.

I thought the token didn't do anything tho.

>>20773376
$100k will be easy during a bullrun where defi takes the top 20 positions.

>>20773427
That was a meme by Andre

>>20773376
Implying that the crypto market doesn't grow... can this reach $1mm each?

>>20773427
We got a brainlet

>>20773352
Why is it hard money? Isn't it a governance token?

>>20773376
newish to trading, can someone explain to me if it's a bad idea to just dump 100$ into like 20 different cryptos and see where it gets me?

>>20773610
Diversifying your portfolio is always good, depends on what you get obvs

totally normal and organic defi chart here everyone, continue buying

if i buy this token, how do i farm it ?

>>20773831
Low IQ statement.

It's because of the governance vote ye brainlet. Everything's on pause currently until the votes are in. Doors will open up again once thats been passed.

>>20773054
When is YFI farmable again?

Put almost $13 into YFI yesterday, am I gonna make it?

>>20774141
Once the vote passes which should be any day/hour now, explains the price movement too

>>20773054
Can someone explain one thing to me?
How does yeld farming work?
I have 100'000 usd... I buy 100'000 DAO I stake them and get 6% per year... now how does yeild farming comes into the equation? What does it add to the table?

>>20774252
You'll need to a high iq genius to explain you that, try youtube

Yearn.Finance (YFI) is a quality of project that only comes maybe once every 1 to 2 years in crypto. Our vision is that eventually yStables will be used as the de facto settlement asset for all financial activity in crypto if not the world. Here’s an analogy. USDC is like keeping USD under your mattress. cUSDC is like putting your USD in a savings account at a bank. yUSDC is like putting your USD with a robo-advisor who then puts your USD in the highest savings account it can find and automatically rotates it to the best interest-bearing savings account across all the banks while charging you nothing. Currently, in the crypto space, stablecoins are used for transfers, margining, borrow/lending. They are used across DeFi and CeFi (exchanges and OTC). Anything USDT can do, yUSDT can do better. Why not trade FTX perps with yUSDT margin? Already FTX takes cUSDT as collateral. Why even have a BTC-USDT pair on Binance when you could have BTC-yUSDT? All that USDT OTC flow from China could be yUSDT. Lastly, why even borrow or lend DAI when you can borrow or lend yDAI (just think about that one). The implications are huge.

YFI is a share of the network. Only 30,000 people can ever own 1 YFI. It is more scarce than Bitcoin. I'm all-in, never selling.

>>20774454
>You'll need to a high iq genius to explain you that, try youtube
Please help

So 30k tokens is all that will ever exist for YFI? They're pretty much already all in circulation then?

>>20774641
>So 30k tokens is all that will ever exist for YFI? They're pretty much already all in circulation then?
yeah, they are all in circulation. only the top ethereum defi guys knew how to farm it. so the tokens are in strong hands

>>20774641
Seems likely a bump to 50k to keep the music going

>>20774736
>yeah, they are all in circulation.
I thought there would be a relaunch until 50k?

>>20773167
Never change biz

>>20774736
Owning the coins lets you farm at higher APR?
>>20774747
What happens when no more YFI can be mined?

>>20773427
he wrote that to keep brainlets away.
It's important for governance token to be held by smart people able to see through obvious bullshit.

>>20774938
>What happens when no more YFI can be mined?
the platforms continues to work and yfi holders earn fees.

>>20775005
>he wrote that to keep brainlets away.
>It's important for governance token to be held by smart people able to see through obvious bullshit.
this

Should I stake on the Y pool on curve again to get ready for the relaunch? Or will it be farmable somewhere else?

>>20774199
How does $13 million sound?

Has anyone audited the code?

>>20774252
YFI finds the best yields for you automatically.

>>20775357
Yes, samczsun.

>>20775370
>YFI finds the best yields for you automatically
what are my risks? As a staker?

>>20775357
>>20775497
And quantstamp

>>20775497
>>20775520

Thanks. Saw quantstamp's and read the multisig issue was fixed... looks like V2 hasn't been at all... But fuck it.

>>20775649
no samczsun reviewed the yvault code, he found a bug in the first version that has been fixed

>>20775520
as a YFI staker? none really. If the platform fails for some reason yfi would lose value, so there's no difference.

>>20775708
Amount of yearn dictates my collateral amount? How many yfi to put up, say 100k USD value?

>>20775778
What do you mean by collateral amount? You stake yfi and you get fees generated by the platform.
I don't think anything supports yfi as collateral for borrowing at this point

>>20775813
That's it, You just stake for ridiculous apy returns? No pooling, no nothing??

>>20775778
>>20775884
The YFI token is used to collect fees... you don't need YFI to yield farm

>>20775884
Yvault allows usdc deposits and has over 40% now.
Staked yfi gets a share of the fees and has an apy of 12.4% now.

YFI farming ended, it may go back once emission is determined by governance.

>>20774582
I’m now erect

>>20775932
Got it. In all likelihood farming will resume, yes? Comfy amount of yfi?

>>20776098
it's probably to be something like 5k-10k yfi in the first year.

>>20776098
10 yfi: retire in 18 months
3 is comfy.

>>20776119
I don't care about token price. Id like to earn 3-5k USD monthly.

where can i get a qrd on all the rules for staking and participating

>>20776163
He's talking about how much YFI will be released. Go DYOR you are dumb as hell

>>20776222
yeah, checked... will stop asking for spoon feedings. thanks.

>>20773831
scammer Andy dumping on suckers
same scammer involved with Fantom/Fusion and other scams

>>20776373
Dude you've got brain damage, I've already explained it here:

>>20774051

>>20775912
How significant are the fees that holding YFI itself is beneficial

>>20776450
you're trying to hard to find greater fools
a scam is a scam

i missed out on coins like snx and aave so i'm so lucky to have found this coin right before the defi bullrun. $100k per coin actually seems doable this year.

>>20776603
This is your chance for a moonbag to buy more linkies. It's that simple, and it'll only take a week. Screenshot this.

I am in pool 3.
How´s the voting looking? Will I get a YFI in pool3?
Rewards payment (bal,ycrv,) is weekly?
Would I get future CRV token?

>>20774582
Going all in.

>>20776603
kys you've already showed us your level of intelligence. Facts vs muh scam. You don't deserve it

>>20775912
My collateral depends on the price of Yifi (which can also go down)?

Current YFI staking yield is 12.5% in yCRV dollar pegged tokens for curve.fi platform y pool. This is with the reduced AUM since farming ended and v2 hasn’t officially launched. Expect this to go up as the platform grows and v2 vaults launch which is basically “yield farming for normies” which will also drive price up

The “use at your own risk” beta v2 yVault using usdc is currently around 45-50% APR. Gas fees are also greatly reduced as you only cover gas for deposit and the protocol moves your assets around between optimal yield farming pools to optimize return. Any incentivized rewards are automatically liquidated to usdc I the current iteration. Basically allows anyone to yield farm effectively without getting eat up with gas costs or require constant oversight and manual pool switching.

Early polls on the governance forum indicate LINK will likely be first asset that will be used for collateral with yvaults. Basically get collateral against link in dollar tokens which go into the above pool generating return. All without losing link exposure. If link price drops than portion of your yVault dollar coins will be liquidated to maintain right ratio

>>20777641
>Basically get collateral against link in dollar tokens which go into the above pool generating return. All without losing link exposure. If link price drops than portion of your yVault dollar coins will be liquidated to maintain right ratio
But my linkies are safe?

>>20778299
Yes. You’d get a yLink token in return for your deposit which is exchangeable for the original link token. If link was to crash, than your debt or “share” of the yVault would be liquidated to meet the necessary collateral. Assume it would be around 50% of your link usd value. You’d keep the yUSDC in excess of that theoretical 50% as yield

Anons, only 30,000 can ever hold 1 YFI. Buy 1 YFI, never sell.

>>20779019
It's mooning, the dates have been set

Anons, only 30,000 people can ever hold 1 YFI. Buy 1 YFI, never sell.

Can someone eli5 how important the governance token is for this defi yield farming ponzi
Do these smart fuckers care about the token price of YFI or does it not matter

>>20779561
>Can someone eli5 how important the governance token is for this defi yield farming ponzi
>Do these smart fuckers care about the token price of YFI or does it not matter
YFI holders can stake and earn fees from the network

SCAM
SCAM
SCAM
SCAM
SCAM

>>20779674
It's pointless arguing with an idiot. You'll catch onto it in a years time.

>>20779634
Is it a fixed return? If so, why does the token price matter

>>20779787
>Is it a fixed return
no

>>20777054
pool 3 rewards: BAL, CRV, YFI
>>20779561
initially andre didn't care about the price at all, probably still doesn't, but it's used to vote for proposals that users put forth in the forums here:
https://gov.yearn.finance/

>>20780280
They'll be integrating Link soon if I'm not mistaking

Proposal for future token release has posted. Needs to be voted in. Voting now is purely YFI based instead of the original BPT tokens from the governance balancer pool.

https://yips.yearn.finance/YIPS/yip-30

20k more tokens distributed over next 8 years. 25% for the DAO for audits and other expenses. 75% for liquidity providers/ farming

>>20780997
Glorious

>>20773054
Why have I never heard of this before?

>>20780997
Anons I post this link as soon as it hit the proposal list. Hope you bought because it is mooning again now. The slow trickle of farm tokens will keep the price up which will keep the apr high which will bring more farmers and more rewards for yfi holders. It’s going to pass. YFI_whale is the representative of the largest voting YFI whale block around 20% or so

>>20782641
People it's not something that discord pajeets would shill on here 24/7

Wtf I saw this a few days ago at 800$. WTF BIZ.

>>20782883
>We have released YFI, a completely valueless 0 supply token. We re-iterate, it has 0 financial value. There is no pre-mine, there is no sale, no you cannot buy it, no, it won’t be on uniswap, no, there won’t be an auction. We don’t have any of it.
https://decrypt.co/36271/yield-farmers-dreaming-of-1000-apy-pour-millions-into-latest-defi-token-yfi

Anon is this some kind of joke? 1,000% APY?

>>20782683
I didn’t think yfi whale was a stable coin whale he’s got $yfi too?

>>20783094
Correction: I thought yfi whale was ONLY a stable coin whale.

>>20782910
This shit is gonna rocket to 30k usd maybe 100k.

>>20783195
Obviously, because it's backed by Andre