DFI.money

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Discover DFI.money's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is DFI.money?

DFI.money (YFII) is a multi-chain decentralized finance (DeFi) aggregator that optimizes returns for DeFi investors by automatically placing crypto assets into high-yield accounts. It simplifies DeFi investing by streamlining services for farming, staking, and lending, and provides users with profit-optimizing tools to maximize their returns.

How is DFI.money used?

DFI.money (YFII) is a multi-chain DeFi aggregator that provides users with profit-optimizing services for farming, staking, and lending. The network simplifies DeFi investing by automatically placing crypto assets into high-yield accounts. Here are the key ways YFII is used:

  1. Yield Farming Vaults: These advanced smart contracts empower investors to drive returns. Vaults are automated and provide users with YFII tokens, CRV, and BAL rewards, improving investor performance.

  2. Mining Aggregator: The system automatically configures the best DeFi mining income, making DeFi mining more effective and providing users with more consistent returns.

  3. Liquidity Pools: Users can participate in various liquidity pools, which are large network smart contracts that enable startups to access public funding. DFI.money streamlines the monitoring and participation in these pools.

  1. P2P Lending Aggregator: The platform integrates P2P lending platforms, eliminating the need for middlemen and banks. It automates the process to ensure lenders maximize profits.

  2. Governance: The YFII token is the main governance token, allowing users to participate in the network's governance mechanisms. Users earn YFII by contributing liquidity to DFI.money's aggregated liquidity pool.

Overall, DFI.money (YFII) is designed to optimize returns for DeFi investors by providing streamlined access to various DeFi services and products.

How do I store DFI.money?

To store DFI.money (YFII) tokens, you can use a variety of cryptocurrency wallets that support YFII. Here are some options:

  1. Atomic Wallet: This wallet supports over 1000 coins and tokens, including DFI.money. It offers features like instant swaps with cashback, buying crypto with bank cards, and staking to earn up to 20% APY. Atomic Wallet is trusted by 5 million users and provides 24/7 online support.

  2. Noone Wallet: This wallet allows you to create a DFI.money address and supports over 1200 coins and tokens. It offers 24/7 support and enables you to send, receive, and exchange cryptocurrencies directly within the wallet.

  3. Metamask Wallet: This wallet supports millions of assets and blockchains, making it suitable for trading YFII on decentralized exchanges. It is a popular choice for storing and managing cryptocurrencies.

These wallets provide secure and user-friendly options for storing and managing your DFI.money tokens.

How to buy DFI.money?

To buy DFI.money (YFII) tokens, follow these steps:

  1. Choose a Crypto Exchange:

    • Select a reliable centralized exchange (CEX) such as Kriptomat, Pionex, gate.io, or MEXC, or a decentralized exchange (DEX) like Uniswap or SushiSwap.
  2. Create and Verify Your Account:

    • Register on the chosen exchange's website or app, providing necessary personal information and completing Know-Your-Customer (KYC) verification.
  3. Add Funds:

  • Deposit funds using methods like credit/debit cards, bank transfers, or ACH transfers, depending on the exchange and your location.
  1. Buy DFI.money:

    • Navigate to the exchange's platform, select DFI.money (YFII) from the list of available cryptocurrencies, enter the desired amount, and confirm the purchase.
  2. Store Your Tokens:

    • Ensure you have a secure crypto wallet to store your DFI.money tokens. For DEX transactions, use a Web3 wallet like Metamask or a mobile wallet like Trust Wallet.
  3. Monitor and Manage:

  • Keep track of your investment performance and consider using trading bots or other tools to optimize your returns.

Remember to research the fees, security features, and supported currencies of each exchange before making a decision.

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History of DFI.money

DFI.money (YFII) is a hard fork from the popular Yearn.finance project. This new network differs from its predecessors in some key ways, mainly, the integration of the YIP-8 implementation. This upgrade prolonged the minting of YFI by an additional two months.

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How DFI.money works

DFI.money, also known as YFII, is a decentralized finance (DeFi) aggregator platform that aims to optimize profits for DeFi investors. It was launched in July 2020 as a fork of the popular DeFi aggregator yearn.finance (YFI). The primary purpose of YFII is to put highly valued crypto coins to work and earn better profits.

Key Features
  • Aggregator Functionality: DFI.money acts as an aggregator that automatically puts users' digital assets to work for high-yield profits. It helps users deposit supported tokens, which are then automatically transferred into the protocol with the highest yield. Users receive interest-bearing tokens (iTokens) that represent their deposit and any interest generated through the automatic optimization of strategies in the YFII Vault.

  • Fixed Supply Governance Token: The native token, YFII, is a fixed-supply governance token. This means that liquidity providers can earn YFII tokens based on their network interaction. The token supply is capped at 40,000 YFII, ensuring that it cannot be manipulated by developers.

  • Security Measures: The project ensures security by sending the keys for minting new tokens to a "black hole" address, making it impossible to create more tokens. Additionally, Vaults use a proof-of-deposit set of tokens called iTokens, which are interest-bearing tokens that users receive upon depositing funds into vaults. These iTokens serve as a mode of verification between lenders and borrowers and can be used as collateral for debts and staked in the DeFi space.

  • Vaults and iTokens: The YFII Vault is a key product that facilitates the automatic optimization of strategies. Users can deposit funds into vaults and receive iTokens, which can be used directly without needing to withdraw the principal amount. This helps prevent the outflow of funds from the YFII platform's vault and provides users with a straightforward method to engage in YFII's operations.

  • Decentralized Governance: As a decentralized protocol and DAO community, any changes to the protocol are decided through voting by YFII token holders. This ensures that the community has control over the direction of the project.

Investment and Trading
  • Buying YFII: YFII tokens can be purchased through various crypto trading platforms. Users need to open an account, transfer fiat currency, and then buy YFII through their trading account.

  • Investment Potential: DFI.money is considered a promising cryptocurrency, with potential for long-term returns. It provides a fixed supply and is free of governance charges. However, it is highly volatile and may create issues for lenders and borrowers.

  • Market Performance: The current market capitalization of DFI.money is significant, and the token price can fluctuate based on market conditions.

Overall, DFI.money (YFII) is designed to optimize DeFi investments by providing a platform for users to earn high-yield profits through automatic asset management and decentralized governance.

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DFI.money's strengths

The token DFI.money (YFII) has several strengths:

  1. Community Governance: YFII is a governance token, allowing holders to vote on new decisions and implementations within the platform. This decentralized approach ensures that the community has a significant say in the direction of the project.

  2. Optimized Returns: DFI.money aims to optimize returns for DeFi investors by providing aggregated liquidity, leveraged trading, and automated market making. This focus on maximizing yields makes it an attractive option for those seeking to optimize their investments.

  3. Efficient Token Distribution: The token distribution mechanism is designed to be efficient, with no pre-mining, no ICO, and no developer rewards. The only way to obtain YFII is by providing liquidity to the pools, which encourages active participation in the platform.

  1. Fast-Growing and Promising: DFI.money is considered a fast-growing and promising token, with a strong potential for future growth and adoption.

  2. Decentralized Finance (DeFi) Platform: As a DeFi platform, DFI.money offers a range of services, including yield farming strategies, which can attract users seeking to diversify their investments and earn passive income.

These strengths contribute to DFI.money's appeal as a cryptocurrency investment opportunity.

DFI.money's risks

DFI.Money (YFII) carries several financial risks that investors should be aware of. These risks are inherent to the cryptocurrency market and decentralized finance (DeFi) sector, which DFI.Money operates in.

  1. Market Volatility: Cryptocurrencies are known for their price fluctuations, which can result in significant losses if not managed properly. DFI.Money's price can drop rapidly, making it a high-risk investment.

  2. Risk of Manipulation: The token's price can be influenced by market manipulation, which is a concern for any cryptocurrency. InvestorsObserver's risk analysis gauges the potential for manipulation by examining the amount of money required to shift the price over a 24-hour period, as well as recent changes in volume and market capitalization.

  3. Regulatory Uncertainty: The DeFi sector, including DFI.Money, operates in a regulatory gray area. Changes in laws or regulations could negatively impact the token's value and usability.

  1. Security Risks: As with any DeFi project, DFI.Money is susceptible to security breaches and hacks, which can result in the loss of funds. The decentralized nature of DeFi applications can make them vulnerable to such risks.

  2. Liquidity Risks: DFI.Money's liquidity pools and mining aggregator services are dependent on market liquidity. If liquidity dries up, users may face difficulties in accessing their funds or maximizing returns.

  3. Technical Risks: The project's technical infrastructure, including its smart contracts and automated systems, can be prone to errors or failures. These technical issues can impact the token's performance and user experience.

Investors should carefully consider these risks before investing in DFI.Money (YFII) and ensure they have a thorough understanding of the project's mechanics and the broader DeFi landscape.

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Did DFI.money raise funds?

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DFI.money’s team

  • Andre Cronje: Created Yearn Finance (YFI), which DFI.Money (YFII) forked from.
  • Lucky Uwakwe: Core team member of YFII and founder of SaBi Groups, involved in DeFi and yield farming.
  • Anonymous Developers: The protocol was created by a group of anonymous developers and community members inspired by Yearn Finance.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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