The YFI governance token has just reached R $ 250,000, equaling the price of Bitcoin on several exchanges. Why did he value himself so much?
YFI, one of the most important assets in the Defi environment (decentralized finance), exceeded $ 52,000 thanks to the announcement that Grayscale (the company that holds the largest BTC funds on the planet) has asked for permission to open a YFI fund.
What is YFI?
Created to be just a governance token that gives the right to decisions about the Yearn ecosystem, YFI was launched without much pretensions by the programmer Andre Cronje – he believes that the token would have no value. But the market had different plans and YFI was one of the best assets to invest in 2020.
The Yearn.finance ecosystem was built directly on the Ethereum blockchain and today serves to automatically allocate funds to investors via smart contracts, in addition to allowing loans and leverage up to 1,000 times.
The fact of having only 36,666 maximum tokens issued makes the asset one of the most scarce in the market, helping to increase prices.
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