Item: YFII
Rating: 5.93

Related information

Issue Time

2020-07-28

Platform pertained to

Current price

$345.32USD

Market Cap

$13.185mUSD

Volume of Transaction

24h

$4.759mUSD

Circulating supply

38,596YFII

Volume of Transaction

$25.811mUSD

Change

24h

-4.63%

Number of Markets

146

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YFII Price Chart

Introduction

Markets

+0.47%

-4.63%

+5.13%

-1.84%

-63.08%

All

-72.57%

Aspect	Information
Short Name	YFII
Full Name	DFI.MONEY
Founded	2020
Main Founder	Community-driven
Support Exchanges	Kucoin, Binance, Huobi, OKEx, MEX, Balancer, Gate.io, Uniswap, Hobit, LBank
Storage Wallets	Trust Wallet, MetaMask, Ledger, Trezor
Customer Support	Community-based support via forums and social media

Overview of YFII

YFII, also known as DFI.MONEY, a dynamic decentralized finance (DeFi) token born from the renowned Yearn.Finance (YFI) ecosystem. YFII is designed to revolutionize yield farming, empowering users to maximize returns on their assets. YFII beckons all individuals to partake in its ecosystem. Featuring pools that yield YFII tokens alongside CRV and BAL rewards, YFII's standout offering, the Vault, delivers unrivaled convenience.

Pros & Cons

Pros	Cons
High yield potential	High volatility
Decentralized governance	Complex for beginners
Strong community support	Regulatory uncertainties
Integration with DeFi platforms	Risk of smart contract vulnerabilities

What Makes YFII Unique？

YFII introduces a unique governance model that splits its community into two branches, each with a different approach to yield farming. This bifurcation allows for a diverse strategy in maximizing returns and improving security. Unlike its predecessor YFI, YFII implemented a halving mechanism similar to Bitcoin, which aims to control inflation and reward early adopters.

How does YFII Work？

YFII operates by leveraging smart contracts to automate yield farming processes. Users deposit their assets into YFIIs liquidity pools, and the platform automatically reallocates these assets to the highest-yielding opportunities across different DeFi protocols. The community votes on various improvement proposals, ensuring that the protocol adapts to changing market conditions and user needs.

Exchanges to Buy YFII

YFII can be purchased on several major exchanges, including:

KuCoin: KuCoin is a global cryptocurrency exchange known for its wide range of cryptocurrencies and trading pairs. It offers advanced trading features, security measures, and a user-friendly interface.

	Centralized Exchange (CEX)	Crypto Wallet	Decentralized Exchange (DEX)
Step 1. Choose Platform	Select a reliable CEX	Choose a reputable crypto wallet	Choose a DEX
Step 2. Create Account	Sign up and set secure password	Download and set up wallet	Connect wallet to DEX
Step 3. Verify Identity	Complete KYC verification	-	-
Step 4. Add Payment Method	Add credit/debit card or bank	Buy cryptocurrency directly	Buy base currency from CEX
Step 5. Buy YFII	Purchase directly with fiat or through crypto-to-crypto exchange	Buy cryptocurrency directly	Swap base currency for YFII

See this link for details on how to buy YFII: https://www.kucoin.com/how-to-buy/dfi.money

Binance: Binance is one of the largest cryptocurrency exchanges in the world. It offers a wide range of trading pairs, advanced trading features, and a secure platform. Binance also has its own native cryptocurrency, Binance Coin (BNB).

Step 1	Download Trust Wallet	Visit Trust Wallet‘s website to download the official app from Google Play or the iOS App Store.
Step 2	Set up Trust Wallet	Follow the instructions provided by the wallet’s support page or app to register and set up your wallet.
Step 3	Buy ETH	Log in to your Binance account and purchase ETH from the Binance Crypto webpage.
Step 4	Send ETH to Trust Wallet	In your Binance wallet, withdraw the purchased ETH by providing your Trust Wallet address and completing the withdrawal process.
Step 5	Choose a Decentralized Exchange (DEX)	Select a DEX supported by Trust Wallet, such as 1inch, to facilitate trade.
Step 6	Connect Trust Wallet to DEX	Use your Trust Wallet address to connect it to the chosen DEX.
Step 7	Trade ETH for EVERY GAME	On the DEX platform, select ETH as the payment and EVERY GAME as the desired coin for the trade.
Step 8	Find EVERY GAME‘s Smart Contract (if necessary)	If EVERY GAME doesn’t appear on the DEX, find its smart contract address on Etherscan and paste it into the DEX platform.
Step 9	Apply the Swap	Confirm the swap transaction on the DEX platform to complete the trade.

See this link for details on how to buy YFII: https://www.binance.com/en/how-to-buy/yearn-finance-ii

Huobi: Huobi is a cryptocurrency exchange that offers a variety of digital assets for trading. It is known for its liquidity, security, and user-friendly interface. Huobi also offers derivatives trading and other financial services.

OKEx: OKEx is a cryptocurrency exchange that offers a wide range of digital assets for trading. It is known for its security features, user-friendly interface, and advanced trading options. OKEx also offers futures and margin trading.

BitMex (MEX): BitMEX is a cryptocurrency exchange known for its derivatives trading platform. It offers leveraged trading on various cryptocurrencies, including Bitcoin and Ethereum. BitMEX is known for its high liquidity and advanced trading features.

How to Store YFII？

YFII can be stored in a variety of wallets, including:

Trust Wallet: A mobile wallet that supports multiple cryptocurrencies.

MetaMask: A browser extension wallet for easy interaction with DeFi applications.

Ledger: A hardware wallet offering high security for digital assets.

Trezor: Another hardware wallet known for its robust security features.

Is It Safe？

YFII leverages robust smart contracts, yet users must remain vigilant of the inherent risks in DeFi projects, encompassing potential vulnerabilities in the codebase and market volatility. Notably, YFI/YFII are standard ERC-20 tokens with identical implementations, featuring similar minting and straightforward governance mechanisms governing token contracts.

How to Earn YFII？

Users can earn YFII by participating in liquidity mining and yield farming on the platform. Providing liquidity to YFIIs pools and staking assets can yield significant returns.

Lending Platform: A lending platform allows users to lend their cryptocurrencies to others in exchange for interest payments. To earn YFII through a lending platform, you would typically deposit your YFII tokens into the platform and earn interest on them over time.

Options Platform: An options platform enables users to trade options contracts based on cryptocurrencies. To earn YFII through an options platform, you could participate in trading options contracts involving YFII or provide liquidity to the platforms liquidity pools.

Mining Agreement: A mining agreement involves participating in the process of validating transactions and securing a blockchain network, typically through Proof-of-Work or Proof-of-Stake mechanisms. To earn YFII through a mining agreement, you would need to participate in the YFII networks consensus mechanism by either mining or staking YFII tokens.