yearn is an aggregate wealth management platform that supports multiple DeFi protocols. It will automatically move positions between protocols to help depositors obtain the highest wealth management returns. The platform aggregates Compound, dYdX, Aave, and DDEX protocols. When users deposit, the platform will automatically allocate funds to the protocol with the highest yield at present. Then yearn will give users a proof of rights and interests called yToken, and users can withdraw their original deposited tokens and corresponding income through ytoken.
YFI will stop mining on July 26. In order to ensure that liquidity will not be withdrawn from mining on a large scale, the community governance YIP-8 proposed an additional issuance proposal. The increase in issuance is halved. Although the proposal received more than 80% support, it failed because the total vote did not meet the minimum required 33%. In order to ensure that Andre's genius idea and system are not controlled by the previous giant whale account, the YFI project is forked, code-named YFII. YFII adopts a halving and additional issuance mechanism similar to Bitcoin to ensure a fairer distribution of tokens to community members.
The total amount of YFII is 60,000, and each of the three pools is 20,000. The initial state of each pool is 10,000. The output is halved every 7 days. According to the share of Defi users who provide liquidity for each pool The corresponding proportion of YFII, YFII will be fully distributed in the next 10 weeks.
