Launched by the developer Andre Cronje in early 2020, Yearn.Finance is often considered one of the original yield farming protocols in the DeFi space. “Outside of holding ETH, YFI is actually my top pick for all of 2022,” the crypto-focused venture investor said. Similar bullish sentiment was also shared by Adam Cochran, partner at Cinneamhain Ventures, who wrote on Twitter that “Yearn has started massively buying back YFI,” while also calling it “one of the only truly 100% decentralized defi projects.” Meanwhile, the buyback of YFI tokens that have already been implemented has also received praise from community members, with a DeFi-focused blogger known as Ape Froman writing that it will “turn Yearn into a black hole for its own tokens, massively rewarding token holders and governance participators.” Judging from responses in the comments section, most users appeared to be in favor of the proposed changes, with some calling it “fantastic” and others saying they are “very excited for what’s coming.” The proposal said it aims to “evolve the role YFI plays in Yearn,” with a number of changes that would be implemented in “four distinct phases.” These would include a new system for distributing YFI tokens that have been bought back, a new lock-up mechanism for YFI, new voting mechanisms, as well as a new system for rewarding YFI holders who contribute to governance of the protocol. Yearn.finance targets investors who don't have the time or desire to maximize their returns.The announcement of the buyback was also followed by the publication of a governance proposal on Yearn.Finance’s governance forum on December 18, which laid out further details about the proposed ‘tokenomics’ behind YFI. These fees can be modified by consensus thanks to Yearn.finance's governance model. Coinjar Best Crypto Exchange to Buy YFI UK with Low Crypto Deposit Fees. Binance Best Cryptocurrency Exchange to Buy YFI with Low Commissions. OKEx Best Low-Cost Exchange to Buy YFI UK via a Crypto Deposit.
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