YFII Yield Farming: Controversial $ YFI Fork

YFII (now formally known as DFI.Money) is a fork of the yEarn (YFI) project, offering a different token distribution caral where token issues are cut in half each week (YIP-8). This inexpensive design encourages active participation in $ YFII mining while allowing latecomers to continue to earn rewards. YFII works as a government token for the community, as tokens are required to vote on new decisions and implementations. As of this article, more than $ 150 million has been locked up under YFII Group 1 – it means building a strong community.

YFII is designed to have 3 different pools and each one distributes 10,000 tokens in the first week of launch (July 27), with the amount halving each week thereafter.

developers originally intended to implement this change through a “YIP8” governance vote – however, this was not approved by the community. This has led to the creation of the YFII fork that directly implements a weekly halving caral for YIP emissions. This has led to growing support for the project, especially in the Chinese community. $ YFII shares a 98% code similarity with YFI, with the key difference being the added “halving” clause, for more information check this comparison.

YFII launches controversies

launch of YFII was controversial and initially met with scam accusations as the Western community feared that YFII was an exit scam. This was mainly due to the presence of possible back doors such as ‘minter’ and ‘governance’ addresses that could create any number of new tokens (infinite token risk). se problems were later resolved by burning the “governance address” and clarifying the “minter” addresses.

Is it safe to produce agricultural YFII?

YFII offers very high investment returns, with group 2 offering over 2000% as of this article. important question now is whether it is safe to produce agricultural YFII. Metamask has issued phishing warnings for the YFII site, likely as a result of initial ‘reporting’ warnings against the project.

key point of contention was the presence of an ‘owner key’ that could have been used to create an infinite supply of YFII. community fixed this issue after the owner’s key was burned, which means that new tokens cannot be created without the community accepting it through government votes. re have also been some alarms generated by the Balancer project, where the YFII-DAI group was temporarily removed.

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Chinese community of Wechat has been quick to protest against unfounded pre-judges against the project. Many have branded Balancer centralized and potentially untrustworthy after these accusations / frontal censorship.

re are definitely a lot of risks when using YFII, as with all decentralized finance projects and smart contracts.

Two pools

Currently, there are two pools to farm the $ YFI token, each has a distribution of 10,000 per week, decreasing by half each week (see chart below).

For more information on the Estimated Annual Percentage Yield (APY) generated by YFII farming, see Weeb’s farming tool https://yieldfarming.info/yfii/ycrv/

How is agricultural YFII 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 *

re are three different methods for extracting YFII – they all give different yields of YFII and have different associated risks. It is not necessary to learn all the methods; rather, it is important to understand that they have different risk profiles.

  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://yfii.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 YFII or DAI on balancer liquidity pool https://pools.balancer.exchange/#/pool/0x16cAC1403377978644e78769Daa49d8f6B6CF565
    2. This will generate BPT tokens
    3. Bet BPT tokens at https://yfii.finance/#/ under «Balancer (YFII-DAI)» Pool
    4. RISKS: funds will be used to automate market making, i.e. if there is a sudden big sale of YFII, the DAI tokens will be used to buy YFII. This means that YFII’s price / volatility decline may lead to a reduction in pooled assets.
  3. Group 3: Bet YFII in the “governance” group

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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.

YFII governance

During the startup phase of YFII, the developers have chosen to use a multi-signature governance caral in which power is shared among 11 signatories. For a resolution to be passed and enforced, 7 out of 11 signatories need to approve the action using a gnosis-vault. This is a temporary measure that improves the speed of contract implementation while power is transferred to the YFII governance DAO (YFII voters can vote on what to implement). More information on the 11 signers and verification can be found here: https://keys.yfii.finance.

YFII distribution

YFII distribution chart

YFII Wechat Group (Chinese)

YFII community has a great Wechat group. To find the group, search for myGrassU and type 3 to receive an invitation to the group. In an open letter from the YFII Community, the creator of YFI was officially recognized with an amazing photo.

YFII lists on Binance

Binance listed DFI.Money (YFII) on September 1, 2020 with the following trading pairs: YFII / BNB, YFII / BTC, YFII / BUSD, and YFII / USDT. YFII did not pay listing fees for this listing; clearly Binance listed YFII in response to the overwhelming popularity among farmers and DeFi enthusiasts. Popularity and community are an important factor Binance takes into account when deciding what to list, as revealed by co-founder and CEO Chengpeng Zhao (CZ) during our interview.

YFII listing on Binance gave them a huge boost, practically doubling the value of the token to over $ 8,000 in just one day.

Frequently asked questions

Is YFII safe?

YFII has contracts similar to Synthetix and YFI, so it is not a total scam. However, it has not yet been proven whether YFII is safe due to potential vulnerabilities in commercial contracts. YFII has not yet been audited

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How do I add Balancer Pool 2?

Unfortunately Balancer has removed the feature of adding liquidity in the Pool (due to fears of a possible infinite minting risk). To add to Group 2, you must use the balancing fork provided by YFII

Decentralized Finance (DeFi) Series – Tutorials, Guides, and More

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)

DeFi series on this website also covers topics not explored on YouTube. For an introduction to what DeFi is, see Decentralized Finance (DeFi) Overview: A Guide to the HOTTEST trend in cryptocurrencies.


  1. INFO: https://medium.com/@WhiteNoise1984/yfii-innovative-decentralized-defi-mining-pool-d745c032dfc0
  2. POOL: https://pools.balancer.exchange/#/pool/0x16cAC1403377978644e78769Daa49d8f6B6CF565
  3. FORK: https://bal.yfii.finance/#/pool/0x16cAC1403377978644e78769Daa49d8f6B6CF565 (Unofficial Fork of Balancer Group. Use at your own risk).
  4. BET: https://yfii.finance/ CONTRACT: 0xAFfcD3D45cEF58B1DfA773463824c6F6bB0Dc13a
  5. how to see the rewards btw https://yieldfarming.info/yfii/yfii_dai/

YFII Announcement: https://medium.com/@WhiteNoise1984/yfii-innovative-decentralized-defi-mining-pool-d745c032dfc0 YFII Token Address: 0xa1d0E215a23d7030842FC67cE582a6aFa3CCaB83

Unofficial agricultural production information:

Pool1: https://yieldfarming.info/yfii/ycrv/ Pool2: https://yieldfarming.info/yfii/yfii_dai/

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