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Episode: #25 – YFI: Farming the farmers
August 10th, 2020
Andre Cronje calls himself just another DeFi dev, but you can’t help but wonder, is he’s underselling himself with that title?
In a few short months, he single-handedly created a fleet of DeFi yield farming money robots that locked up over $400m in assets in his yearn protocol. He launched a YFI token that grew in value by over 1,000% in its first week, one of the most explosive price charts crypto has ever seen.
No pre-mine, no VC, no founders reward.
Maybe a better title is King of the Yield Farmers. DeFi’s Satoshi.
Who is this guy?
What did he build and why is it brilliant?
Why did YFI go from $3 on July 17th to $5000 on August 8th?
This is everything you need to know about yearn, YFI, and Andre.
We cover:
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How Andre’s really feeling
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What’s up with “I test in prod”
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Why high YFI price can be bad
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How Yearn automates yield farming
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Andre’s money robots
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Incenting strategy writers
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Risks of yearn
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Launching YFI to scale
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Why people buy YFI
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Organic governance
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Is Andre The Joker?
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What’s coming next
Join us next Monday for a fresh episode!
Resources discussed:
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Acronym helper:
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LP = liquidity provider
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yearn (or “Y-earn”) = Andre’s protocol
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cUSD, cDAI = stablecoins in Compound
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Episode Actions
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Try yearn protocol– “tested in prod” you could lose it all
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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
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