DFI.Money (YFII) is a subsidiary of Yearn.finance’s (YFI) decentralized financial system (DeFi). It was established in July 2020 to maximize rewards for investors in DeFi. The native token of this project is YFII.
What Is The Purpose Of The DFI.Money (YFII) Initiative?
The DFI.Money project is a fork of the Yearn.Finance project, which was founded in 2020 with the goal of maximizing the benefits of decentralized financial applications as they become more popular. DFI.Money and Yearn.Finance offer nearly identical functionality, but DFI.Money has unique features and different protocol limits for token use.
According to DFI.Money, the protocol is community-owned and does not offer commercial incentives, such as rewards for developers, by default. Users are rewarded with YFII tokens for participating in one or both Curve (CRV) and Balancer Liquidity Pools (BAL).
Information About DFI Money
The YFII token is the native cryptocurrency of the DFI.Money platform. The YFII token is not pre-sold or distributed. After the launch of the platform, the distribution of the token started as an incentive. After a total of 10 weeks of incentive distribution, the token distribution ended at the end of September 2020. The YFII coin uses the ERC-20 protocol. YFII is available in a total number of 40,000 units.
What Makes The DFI.Money (YFII) Project Different?
The DFI.Money project serves the same purpose as yearn.finance. While the platform allows investors to optimize their returns using decentralized financial applications, the platform’s tokens are used differently than yearn.finance. The protocol is owned by the community, and commercial incentives such as rewards for developers are not offered by default. In addition, the Vault system has been added as a new feature to DFI.Money. Vault eliminates the need for manual trading by automatically identifying the token with the highest return based on the user’s strategy.
