What’s Yearn.finance?
Yearn Finance is an open-source network that automatically moves user funds between DeFi lending protocols
The platform will switch your holdings between reputable yield farming platforms such as Compound, Aave, and Dydx to maximize APY.
This simplistic protocol continuously monitors the market leaders to ensure that your funds remain in the highest paying pools.
Yearn.finance Features
Ytrade.finance
This feature allows users to long or short stablecoins with 1000x leverage.
Shorting cryptocurrencies has long been a dream for traders and Yearn makes this dream a reality using this protocol.
Yliquidate.finance
The yliquidate.finance feature introduces flash loans in Aave.The purpose of these loans is to liquidate funds in an expedited and efficient manner when needed.
Yswap.exchange
The yswap.exchange feature is another critical component of the Yearn Finance ecosystem.
Users can manually deposit funds to and between various DeFi protocols.
Iborrow.finance
This feature tokenizes debt in other protocols with the assistance of Aave.
This debt can be used in additional DeFi protocols, opening up new liquidity streams for the industry.
YFI Token
The YFI token is the main governance token of the Yearn Finance network.
It is used to govern the protocols within the ecosystem.
There is a max supply of only 30,000 YFI tokens.
The only way aside from trading on exchanges to get YFI is by providing liquidity to one of Yearn Finance’s platforms.
Why the Hype?
Yearn.finance’s YFI token has been surprisingly strong throughout the past few days.
Its price is holding well-within the mid-$20,000 region despite the selloff currently taking place across the aggregated crypto market.
There was narrative built throughout the past few months regarding shorting YFI being a higher return way to hedge against BTC.
This may be one of the main factors behind its strength, as a short squeeze might have caused its latest rebound.
Should you trade YFI?
Experienced traders have noted that YFI could be well-positioned to see even more gains in the days and weeks ahead.
It is estimated that a move past $30,000 could occur as bulls begin gaining greater control over its trend.
The selling pressure that pushed it to this key support level happened due to the declines seen by both Bitcoin and Ethereum.
The merger and acquisition spree that the Yearn.finance protocol has been on also contributed to it’s technical strength.
The combination of these factors indicate that it could rally higher in the days and weeks ahead.
Yearn.finance’s continuation of respective uptrends will certainly bolster YFI’s strength.
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Yearn.finance’s YFI coin has seen a surge in it’s prices recently, even surpassing the humble old Bitcoin. Their technical strength has proven to be superior and traders are estimating that the YFI Coin will likely cross a whopping $30,000 in the not so distant future.
Vist Blockchain.tech to learn more about blockchain & crypto.
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Enhanced Efficiency-Supply chains contain complex networks of suppliers, manufacturers, distributors, retailers, auditors, and consumers.-A blockchain’s shared IT infrastructure would streamline workflows for all parties, no matter the size of the business network.-A shared infrastructure would provide auditors with greater visibility into participants’ activities along the value chain.Cost-SavingBlockchain can drive cost-saving efficiencies and enhance the consumer experience through traceability, transparency, and tradability.Traceability-Improves operational efficiency by mapping and visualizing enterprise supply chains.-A growing number of consumers demand sourcing information about the products they buy.-Blockchain helps organizations understand their supply chain and engage consumers with real, verifiable, and immutable data.Transparency-Builds trust by capturing key data points, such as certifications and claims, and then provides open access to this data publicly.-Once registered on the Ethereum blockchain, it’s authenticity can be verified by third-party attestors.-The information can be updated and validated in real-time.Tradability-Using blockchain, one may “tokenize” an asset by splitting an object into shares that digitally represent ownership.-This fractional ownership allows tokens to represent the value of a shareholder’s stake of a given object.-These tokens are tradeable, and users can transfer ownership without the physical asset changing hands.Reducing Counterfeits-Counterfeit consumer goods account for nearly 188 billion dollars of lost revenue regarding prescription drugs alone.-Blockchain enables an individual to verify that a product was sourced accurately and ethically.-Documentation counterfeiting and fraud are also common among diplomas, certifications, and official identification.-Blockchain records can transparently verify certifications and official legal documents effectively.-It can also coordinate record-keeping immutably, which prevents counterfeiting or fraud.Thank You For Reading
And, with new remarkable technological advances, it only gets simpler and better by the day.Blockchain technology, which is the most common in the currency market, is one such brilliant innovation.
From healthcare to finance to the modern media sector, blockchain has reached every industry.
Let's look at how blockchain can help mobile apps and why you should use blockchain for your company.How does blockchain technology elevate mobile applications?
Blockchain networks are made up of a chain of blocks that contain information and are encrypted with strong cryptography.
Each block contains the transaction data and the timestamps of the previous blocks.
Transparency The method of authorizing applications for sale on Google Play and Apple's App Store appears to be unpredictable and considered unfair.
What is Blockchain?In simple words, the blockchain is a unique distributed record that stores the data and verifies its integrity.
By using a different set of cryptography based technologies, Blockchain assures that transaction continued into the blockchain database which is steady.Blockchain technology manages the every currency transactions.
But Blockchain is not limited to just currency but enlarges to any domain where anything of value is implemented, be it contracts, personal information, health records, business data and much more.
Advantages of Blockchain TechnologyEfficiencyTransparencyTrustFlexibility Our blockchain solutions offer paradigm shifting abilities to the businesses that are in search of unmatched scalability at the operational level.
Development Platforms for Blockchain TechnologiesEthereum is perhaps the most consistent and widely spread platform for the creation of viable blockchain systems.
Despite the fact that the whole platform is relatively new and has only been developed a few years ago, Ethereum has been taken its place at the forefront in the world of developing platforms for blockchain technologies.
Depending on the popularity and hype acquired by blockchain technology in the last few years, it won't say that blockchain is definitely a game-changer and also it can be considered as the next big thing to occurred in the inventions of the internet.
In simple words, it stores a record of each transaction that can be accessed by everyone who is all into the networks, therefore eliminating the requirements of a centralized authority.
It stores and collects the information in an encrypted blockchain with much safety and security.Let's see at some of the top real-world blockchain technology applications over various industries here.1.
It can help to trach the batch and serial numbers of prescription drugs.
Nowadays, some of the hospitals have started to record the patient's data with the latest ways of handling the data and they are using blockchain technology to store each patient's record confidential.
Patient's diagnoses report can also be stored so that they can easily track the history of the patient's health conditions.3.
Many countries are on the mission of decentralizing their governance with blockchain solutions, and some have dived into the coining of their cryptocurrency to enter the marketplace.
Major industries are trying to leverage customized smart contract application development to automate legal contracts, quality inspection, and other repetitive tasks.
However, it is evident from the financial news updates that crypto and blockchain are hitting our lives with ergonomic use cases and making lives simpler, transparent, and secure in the digital space!In this blog post, let’s start with some vanilla flavors about smart contracts and then traverse through how it works and their varieties based on application!
A smart contract is a computer protocol that executes a task based on pre-defined conditions.
Now, let’s assume that Afrin buys a property from Buna!If Afrin pays Buna as per the deal in the normal transaction, Buna signs off the property ownership through registration.
On the contrary, if Afrin pays less amount and argues with Buna to sign the contract or Buna receives payment and asks for more, they need a third-party or court to resolve the issue.
