All eyes are on yEarn – a liquidity aggregator which has collected over $150M in TVL since the debut of its native governance token YFI.
As the brainchild of what some are now calling DeFi’s Satoshi Nakamoto, yEarn’s founder – Andre Cronje – launched YFI with one mission. Real governance.
In this article, we’ll be taking a look at what makes this launch so unique, along with insights from the inside as someone who helped set up the yEarn governance forum and is an honorary member of the protocol’s 6/9 multisig responsible for setting addresses which can mint new YFI.
This article will not talk about the price of YFI. If you want to learn more about why the token spiked more by nearly 80x and saw APYs north of 1000%, check out my coverage on the Defiant which was picked up by Decrypt.
If you want to learn about why this is the most exciting experiment I’ve seen in DeFi to date, keep reading.