YFI Surpasses $1,300

yfi defi token worth almost six eth july 2020

A brand new token of a new pool on a new dapp is now worth close to six eth right out of the box. The limited token with rumors suggesting it will be capped at just 30,000 is worth zero, Andre Cronje of Yearn Finance said. Not least because it is actually currently being given out for free if you provide liquidity or use the dapp, but some market participants apparently think it is easier to just buy it at what sounds like a high price, but if they do cap it to 30k, then it gives the pool a market cap of ‘just’ $40 million fresh out of the box. All that price appreciation is because YFI gives governance rights to a liquidity pool called Y pool that runs on what can be called the Curve dapp protocol which uses geometrical curvy maths to focus in particular on stabilizing…

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