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Threshold Network, a provider of cryptography services to unlock greater utility of digital assets, announced the launch of tBTC, the industry's “only” decentralized, permissionless, and scalable Bitcoin-to-Ethereum bridge.
The MakerDAO community has approved a proposal to deploy around $100 million worth of USDC into Yearn Finance. The decision to deposit the funds on Yearn Finance will allow MakerDAO to earn an annual yield of around 2% on the stablecoin deposits.
In the hopes of generating yield while offering users what its best known for, MakerDAO, the issuer of the Ethereum-based stablecoin, DAI, has approved a proposal to deploy $100 million of Circle's USD Coin (USDC) in a Yearn Finance yield-generating account called a “vault.” The proposal, submitted on January 9, aims to look for a way MakerDAO could split its treasury allocations and earn yield.
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MakerDAO community has supported a decision to deposit $100 million of USDC stablecoin into a Yearn Finance vault.
After its proposal in November to deploy $100 USD Coin [USDC] into the Yearn Finance [YFI] DeFi protocol, MakerDAO [MKR] finally approved it. Details from the poll showed that 71.56% of the MKR community voted in favor of the proposition, while 28.44% preferred to say no to the “Yearn to earn Yield” proposal.
The decentralized finance platform expects to earn around 2% annually on its deposit.
The decision opens the way for MakerDAO to earn an estimated 2% annual yield on USDC stablecoin deposits.
The launch of the Yearn Finance [YFI] Permissionless Vault Factory coincided with the rise in the value of the YFI token. Since the start of the year, Yearn Finance experienced a fantastic price run.
DeFi aggregator protocol Yearn Finance has launched a new product that allows users to create sophisticated permissionless vault factories on its platform. Yearn's auto-compounding yVault Yearn.
The Yearn Finance price drifted upwards after the developers announced major changes to the platform. YFI, its token, was trading at $5,800
“All factory-deployed vaults have no management fees and a flat 10% performance fee,” the DeFi project wrote.
The crypto market has seen exceptional growth over the past year. Especially, at the beginning of the year, 2021 many altcoins trended with massive profits, one such prominent asset is Yield Finance. YFI crypto is one such Defi token that had given Bitcoin a run for its money in the past.
YFI, the native token that powers the decentralized finance (DeFi) protocol Yearn Finance, saw a surge in its count of unique trading addresses in the past few days, on-chain data revealed.
Yearn Finance (YFI) has performed relatively well over the last 30 days, painting its charts in green despite the lingering uncertainty in the crypto market. According to information from Coingecko, at press time, the ERC20 governance token built on the Ethereum blockchain is changing hands at $7,087, going up by 5.7% during the past week and tallying an impressive 15.7% jump on its bi-weekly gauge.
YFI suffers a bearish divergence that indicates a decline in buying momentum. Sellers take control of the YFI market during the intraday trading session.
The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
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Compound users can no longer use yearn finance (YFI), 0x (ZRX), basic attention token (BAT) or maker (MKR) tokens as collateral for loans.
Compound (COMP/USD), an Ethereum-based decentralised lending protocols that's among the top markets in the crypto industry, has adopted a proposal suspending the use of four digital assets as lending collateral. The move follows a governance vote that passed Proposal-131 by 99.
Compound is pausing the use of illiquid assets, in order to protect itself from hackers that may attempt to manipulate lending markets. The post Compound suspends four tokens with low liquidity as lending assets appeared first on The Block.
Users won't be able to temporarily use 0x (ZRX), Basic Attention Token (BAT), Maker (MKR), and Yearn Finance (YFI) on Compound now.
Yearn.Finance [YFI], a yield optimizer that operated in the DeFi niche, took significant steps to offset past hiccups. A major hiccup was where the crypto went down massively from its May 2021 all-time high.
