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What is the issuance and circulation of YFI coins?
YFI, the governance token for DeFi platform Yearn Finance, has a circulating supply of approximately 30,000 coins as of September 2023.
Oct 09, 2024 at 10:05 pm
1. Issuance of YFI Coins
- Date: July 16, 2020
- Initial Supply: 30,000 YFI (capped)
Issuance Method:
- 70% distributed to Yearn Finance liquidity providers through a 4-year liquidity mining program
- 20% allocated to the Yearn Finance treasury
- 10% allocated to core contributors and advisors
2. Circulation of YFI Coins
- Current Circulating Supply: Approximately 30,000 YFI as of September 2023
Distribution:
- 60% held by initial liquidity providers
- 20% held by the Yearn Finance treasury
- 20% held by core contributors and advisors
- Exchanges: YFI is traded on major cryptocurrency exchanges, including Binance, FTX, and Coinbase.
- Popularity: YFI has gained popularity due to its role as the governance token for Yearn Finance, a leading DeFi platform for yield optimization.
- Governance: YFI holders have voting rights on proposals that affect the development and operations of Yearn Finance.
- Price Volatility: Like other cryptocurrencies, YFI's price is subject to high volatility and can fluctuate significantly over time.
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