What is YFII coin (YFII soars in price)
What is YFII coin? What is the value of YFII? YFII token is the governance toke
What is YFII coin? What is the value of YFII? YFII token is the governance token of YFI. Users can deposit funds into the YIP-8 proposal (voting time: 10 days) and allocate profits based on the current pool ratio through the contract and liquidity mining. Throughout the development of the ecosystem, the project team and community will jointly promote the growth of the platform.
The main collateral assets in YFIV2 are: UNI-V2-USDT, ETH-WBTC, and DAI-WBTC; as well as Staking rewards for YFI.
Here is an introduction to what YFII coin is:
1. YFII is a decentralized lending protocol based on Ethereum. Compared to Compound, its main highlight is the use of an automated market maker model, where anyone can participate in protocol creation and issuance.
2. YFII uses smart contracts to automatically execute various DeFi operations, such as the impermanent loss insurance mechanism, and provides liquidity to compensate for user losses.
3. The annual interest rate distributed by YFII starts at 4% and halves every quarter.
4. YFI/yCRV tokens will undergo deflation every quarter.
YFII soars in price
According to CoinGecko, YFII coin experienced a significant increase in price today. As of the time of writing, the highest increase reached 12%, with a current price of $0.049. YFII is a liquidity mining project that rewards platform token YFII through YFI staking and participation in platform governance. It is said that users can provide liquidity, trade YFII, and earn profits in this protocol. It also has an automatic reinvestment function (aggregator). Currently, YFII’s price is $0.015, with a market cap of approximately $600 million. It has been listed on exchanges such as CoinGecko, BitUniverse, and Kucoin. Please be cautious of price fluctuations and manage risks.
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