Let me hear your thoughts on YFI. On one hand...

Let me hear your thoughts on YFI. On one hand, buying a token for $4000 that is up hundreds of % in the past month goes against every fiber of my being. On the other hand, this is clearly leading the movement of eth finance that isn't ran by VCs dumping presale tokens on you. someone whisper in my ear.

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>On the other hand, this is clearly leading the movement of eth finance

its not leading anything. its way down at the bottom of the charts
defipulse.com/

also andre conje is a project hopper. you cant trust him to stick around. was investing in Dan Larimer a good idea? was investing in Charles hoskinson a good idea? these guys cant complete projects, by their own admission. stay away from anything they build. theyre unreliable.

No idea how this compares to stuff like MTA, but fuck them, especially after the VC seed movement shit they pulled. I'm literally 30% in at the moment and hope it will end making up my entire portfolio the way link did in 2018/2019.

no spoonfeeding and saged. It takes days to dyor, but put the time in. scam coin, no value, infinite clones and pajeet forks, no thanks.

On Wednesday the vote will pass to open the yVault to LINK deposits. yVault has been incredibly successful thus far.
Millions of $ of LINK will begin to pour in, AUM will grow, and link marines will discover Yearn.
Fees will continue to rise, which all flows to the value of the YFI token. Holders will be able to claim those fees through active participation in governance.
Price of the token only appears high because of the low circulating supply, which the community voted not to tie to an inflation schedule. So 30k YFI max, with the possible exception of limited prints (150 YFI here, 100 YFI there) to fund operations, audits, etc.

Fees will increase the value of the YFI token to $50k EOY.

I have $800 locked up in YFI/ETH on uniswap. Along with $600 in LINK/ETH and $500 in RLC/ETH. I have no fucking clue what these gains on ETH and LINK are doing to impermanent losses or what the fees generated are. Someone wanna tell me if I should just leave em and reap fees or if its a house of cards that's gonna rape me financially.

it looks like yfi already works better than ada or any larimer project ever has.

Okay so they finally voted on a value capture model for YFI? Are you able to explain to me something then? So you can't mine YFI anymore right? Before you could stake the yCurve tokens to mine YFI but since the max supply is mined I thought I read they were voting whether or not to use the some of the fees to buy YFI to give as staking rewards? The rest of the fees go to holders for staking YFI? Is that correct any info or sources is greatly appreciated. I'm salty I missed YFI and am late to the boat on yield farming in general, its fucking incredible. I might just mine for the new Curve Governance token coming out soon. It probably won't be nearly as ridiculous as YFI though.

>defipulse.com/
are you retarded? click on Assets, yearn is only a few million from being #1. After the LINK yVault goes online, fuggedaboutit

Don't be salty user because Yearn is going to go beyond $1B. You can be part of this, it's still early.

Yes, fees from AUM are going to flow to the YFI tokenholders. But to claim those fees they are discussing possible mechanisms to make sure they are only available to active voters in governance. It's all new and being discussed.

The point is, look on defipulse under Assets and see Yearn is just a few million from being #1. This is going to shoot up very quickly once more yVaults come online, like the LINK one in a few days. There will be other products on the platform that also attract more AUM and fees. Those fees are for YFI holders (and operations), but again, the exact mechanics are still being decided on.

I'm glad YFI isn't locked into some inflation schedule because it's unnecessary. Makes it a better store of value and avoids continuous sell pressure. No need for it to be mineable because the AUM are generating returns from other activities, not inflating YFI.

ok i bought one waifu, might add another if we ever revisit the 2000s.

So there will no longer be any way to acquire YFI other than outright purchasing it? Ideally once yVaults for LINK are open I'm going to deposit some of my holdings and deposit to Curve. At that point I can either use some of APR generated to outright buy YFI or just stake the yCurve for the Curve governance token coming out? Idk what the Curve governance token's value capture will be I can't find any solid information on it. Do you know or have any sources? If its worse than YFI I could just sell what I accrue for YFI as I generate it. Lol

I'm intrigued to get set up for yield farming because it will be an excellent service to dump profits into after we hit the bull run peak. I don't think a bear market will slow it down much or at least the returns will be amazing even still probably.

This is what people do not realize.
Atm, 49% of supply is staked in governance contract and holders are not looking to sell, at least not at these prices. Fresh meat is going to have to pay a premium

I'm also interested in CRV it sounds like it's going to be highly inflationary and there's nothing like YFI. I do recall reading some whitepaper where the token economics were described briefly, and it will be inflationary. Also, CRV will be more akin to BAL, Curve and Balancer are AMM's. Yearn is more of a wealth management platform, as well as a protocol for issuing yTokens which, as I understand it, are interest-earning IOU's that in theory could be used interchangeably with the underlying assets. This is a big innovation and opens up tremendous potential for DeFi.

But right now, it's launching one product at a time and it's new. As you know user, Rome wasn't built in a day.

Fuck me got it.

Yea I saw the same CRV white paper as well but I couldn't comprehend how it accrues value? Just from the market making fees? As you said its inflationary and with a massive supply. I read something about burning tokens though. I kind of just skimmed it so I'll probably go back over it. I guess I'll have to dump dividends into buying YFI over time. So far there is nothing like it. I'm concerned about how Andre operates a little but he also seems brilliant. Once leveraged stable coins goes live or even somehow taking advantage of AAVE flash loans could be fucking ridiculous. I'm still learning a lot about YFI and yield farming in general but its definitely the future with liquidity pools. So much money to be made. I'm all in the LINK and besides the YFI the only other project I'm even remotely interested in is DMG but I can't bring myself to diversify any of my LINK gains yet. Haha

Your portfolio sounds great. Future millionaire if not already one. I'm 25% BTC 25% ETH 20% YFI 20% RSR and 10% LINK

Bro just use Aave. Take a loan in the link. I reccomend taking it in bat cause that motherfucker can't get above $.25 and it moves with eth, BTC, and link so it's safer from flash crashed than a stablecoin.
Anyways, swap that shit for DMG on uniswap. That is if you think you'll make enough on DMG to pay the loan

leading what? barely any rewards anymore. the community can’t agree on any votes. it’s a fucking mess. the token is useless!

>muh other products on platform
>community can’t even agree on a rewards system and inflation strategy after 4 days
>unstaking code malfunction

i'm a top 100 wallet, never selling

I know nothing abouy YFI

Do you get to keep the keys to your link if you use YFI? School me.

>muh bitter envy
its ok, you can go buy some YFII for $125 , it's on sale tonight. 70% off since yesterday!

>>community can’t even agree on a rewards system and inflation strategy after 4 days
that's a pretty important thing to come to consensus on after 4 days, that doesn't really deter me.

Not yet but I'm moving through 6 figures networth which is honestly incredible to me given my life thus far. I have ridiculous patience and titanium hands. What are the risks of putting my LINK in the yVault when its available? I couldn't find much info on that either. Other than the protocol being new and there could be bugs or somekind of failure that results in a total loss of the holdings I deposit? Is there a liquidation point like AAVE loans? I read it will use them as collateral for a stable coin?

Join us in telegram or discord, I don't have all the answers but I can tell you Yearn and Nexus Mutual (the crypto mutual insurance company) were talking on Twitter the other day and I expect that there will be insurance available for people who want to be extra careful.

Also, there is a plan to have the smart contracts audited very soon.

yearnfinance on tg

Hmm I've considered this many times but I'm afraid of losing the LINK. I want to do enough to buy 10K DMG at least. I've never used AAVE either but have read about it. I'm not 100% on the liquidation process and how that changes based on the assets borrowed or loaned. I do need to start utilizing my LINK I feel like though. Its just sitting there and I have around 18K

Excellent will do thank you

Main risk would be a smart contract bug resulting in some degree of asset loss. Their are currently a couple of proposals discussing funding options for future contract audits either from one time issuance of small amount is additional YFI tokens or by using a portion of fees from rewards pool.

While there has been no official audit, a lot of people have gone through the contracts unofficially due to the high profile and community driven nature of the platform and due to the large AUM. So far nothing major has popped up since the yvaults went public which is a good sign given they’ve been out a week or two now. The yCRV vault AUM is currently almost 35m alone.

Yvault stats
feel-the-yearn.vercel.app/

>20977048

Why does it feel like staking LINK in a yVault could be more lucrative than actually staking. Lol

Imagine not buying his waifu at a 90% discount

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