YFFI is a YEarn-inspired governance token that rewards crypto yield farmers (also known as liquidity miners). Due to the growing popularity of yield farming and the $ YFI token, projects have seized the opportunity to create alternatives that can appeal to different communities. YFFI is one of those forks and labels itself “Finally Found It: Coolest Harvests in Town.” This variant includes code similar to YFII, which halves the distribution of new tokens each week.

YFFI claims that the ability to create new tokens has been destroyed by setting the “reward” address to 0000000. We have not fully examined the code and there could be additional undiscovered vulnerabilities.

Low supply warning

reason why YFI coins are highly volatile is due to the slowness of initial coin supplies. As there are no pre-mine, equipment tokens and minting, the initial supply will only be from performance producers. This means that in the first few days, the supply will be extremely low, but will increase dramatically to 100% per day. This leads to sharp changes in price and high volatility.

How is the agricultural YFFI produced?

* NOTE: Yield farming is extremely dangerous and can include risks such as infinite mint / smart contract vulnerabilities / token price volatility. This activity is not SAFE and should be considered EXTREMELY experimental. You have been warned *

YFFI can be mine using two main methods, each with different risks and steps:

Read also Valkyrie Protocol (VKR) Token What is it, how to buy and price?

1. POOL 1: Use the yCurve tokens generated at https://www.curve.fi/iearn.
1. Go to https://www.curve.fi/iearn
2. About the Deposit page, deposit USDT, USDC, TUSD or DAI
3. This will generate yCurve tokens
4. Bet and Curve Chips at https://www.yffi.finance/ in the «longing» pool
5. RISKS: And Curve Pool uses stablecoins and automatically invests them in different protocols. This is considered high risk as any vulnerability in any of the protocols can lead to theft of funds.
2. Group 2: Use the liquidity group 98% DAI: 2% YFFI of Balancer
1. Bet either YFFI or DAI on balancer liquidity pool https://pools.balancer.exchange/#/pool/0xFe793bC3D1Ef8d38934896980254e81d0c5F6239
2. This will generate BPT tokens
3. Bet BPT tokens at https://www.yffi.finance/ on «Balancer (YFFI-DAI)» Pool

After successful gambling, you should be able to see the “available rewards” increase over time with more YFFI tokens. tokens can be claimed at any time using ‘claim rewards’. In addition to this, the staked tokens can also be removed at any time without blocking.

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Award accusations and resolution

Premine accusations: YFFI was accused of having an early pre-mine due to the early stages where the groups only had 7 different participants with 10yCRV each. This means that the initial rewards were divided among very few people, allowing them to rack up higher rewards. To address these issues, managers have decided to burn 175 YFIs that were mined during the early stages.

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With content for both beginners and more advanced users, check out our YouTube DeFi series which contains tutorials on the ESSENTIAL TOOLS you need to trade in the DeFi space, for example MetaMask and Uniswap. Plus a deep dive into popular DeFi topics like Reef.finance ($ REEF) and Polkadot ($ DOT)

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information provided in this article is intended for general guidance and informational purposes only. content of this article should not under any circumstances be considered investment, business, legal or tax advice. We do not accept any responsibility for individual decisions made based on this article and we strongly recommend that you do your own research before taking any action. Although every effort is made to ensure that all information provided in this document is accurate and up-to-date, omissions, errors, or mistakes may occur.

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