DFI.Money is a DeFi yield farming protocol on Ethereum.
On July 26, 2020, the minting of new YFI token of Yearn Finance stopped. To prevent the liquidity of pools on Yearn Finance to drop too quickly, Yearn Improvement Proposal no 8 (YIP-8) was proposed, the content of which was to prolong the release of YFI tokens for 10 more weeks with a weekly halving model. Unfortunately, YIP-8 was declined, leading to the hard fork that bred a new DeFi protocol named DFI.Money.
After the 10 weeks of releasing its native token (YFII) ended, the minting keys of YFII were burned to prevent further release of the token.
As a fork of Yearn Finance, DFI.Money offers quite similar services:
- Vault is a yield aggregator that automatically looks for the best APR for your deposits.
- Yield farming pools are where you stake tokens or provide liquidity to receive rewards.
YFII is the native token of the DFI.Money protocol. It is used for yield farming and governance. YFII has a maximum supply of 40,000 and all of them are distributed.
Minting keys to YFII were burned, therefore it is impossible to release more than 40,000 to the market.
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