Coinbase Pro lists Yearn Finance (YFI)
Coinbase Pro lists Yearn Finance (YFI)
Defi

Coinbase Pro lists Yearn Finance (YFI)

By Alfredo de Candia - 11 Sep 2020

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Coinbase Pro, a platform for experienced traders, revealed that they have decided to list the Yearn Finance (YFI) token on their platform.  

Yearn Finance’s famous token has achieved unprecedented success: in fact, this token was launched only a couple of months ago and has recorded significant price increases, achieving record figures.

Indeed, YFI has reached peaks of $38,000, more than 3 times the price of Bitcoin (BTC).

The project could be said to be a pioneer in alternative token distribution, following in the wake of what Compound (COMP) did.

This has also inspired many new protocols, like for example Sushi Swap, which copied the Uniswap model.

Yearn Finance and DeFi on Coinbase

In any case, the YFI token will be available for transfer to Coinbase from next Monday, September 14th. As soon as there is sufficient liquidity, trading will probably open the next day. 

The Yearn Finance token is currently trading at around $33,000 and has a small supply.

Yearn has recently also announced that it is working on its insurance for all types of assets. The system will be managed by the community that will have to do the claim, because there will not be a minimum quorum, precisely to encourage users to be proactive.

Coinbase certainly didn’t stay on the sidelines and promptly started to list decentralized finance (DeFi) tokens very quickly: in about 2 months it also listed UMA, BAND and COMP.

Furthermore, Binance also listed the Yearn Finance token last month, which surprised everyone, considering that it was a project that had some security problems due to a bug that caused the token to lose 90% of its value.

 

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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