What happens to leave an aftertaste of burnt or do we live a historical moment? A terrible child of Decentralized Finance, which continues to break its records, the YFI crypto has gone from nothingness and non-existent value - the token was not even designed for it originally - to a price of more than 16,000 dollars in a few dozen days, thus distancing a Bitcoin yet in great shape. Did you think Bitcoin's 10-year worth of value was truly mind-boggling?
Welcome to YFI, the crypto of iEarn that achieves the same performance in 30 days.
Bitcoin and YFI, not-so-distant cousins
The brightest ideas sometimes have frustration as a breeding ground.
Bitcoin was forged on the ruins of a financial world deemed iconic, amoral, and undemocratic by a Satoshi Nakamoto who, rather than protesting in silence and unnecessarily, decided to put in place better than new rules of the game: a new gaming environment.
A little more than 10 years later, Andre Cronje, a talented developer, is tired of seeing Decentralized Finance develop in an anarchic way. He finds it particularly frustrating to see DeFi's governance protocols multiply without much coherence, forcing users to juggle tools and platforms, all at the cost of many costs and massive congestion of the Ethereum network (the main hunting ground of Decentralized Finance).
And like our founding crypto-father at all, rather than grumbling in a vacuum, André decides to create his tool, a DeFi platform that will allow in a few clicks to enjoy all the benefits of these new financial mechanisms. iEarn was born. And that says defi's new platform, says new token of governance in the form of Yearn Finance (YFI).
Another parallel with Satoshi and its Bitcoin: in both cases, these digital assets were not designed to have any financial value but rather as mere tools in the operation of protocols.
And in both cases, by the principle that things never go according to plan, the market that doesn't care much about people's projects has decided otherwise...
Rich on a misunderstanding
Let's continue on the path of Nakamoto: by creating the YFI token and the iEarn platform, Andre Cronje and his team do not seem to have had the idea of a quick fortune in perspective.