YFII.finance Token on BNB Chain

Introducing YFII.finance Token (YFII): A New Arrival on the BNB Chain

Welcome to the detailed profile of YFII.finance Token (YFII), the latest addition to the BNB Chain. As an exciting new cryptocurrency token, YFII.finance Token (YFII) was launched with the intent to join the thriving BNB Chain ecosystem.

This token operates on the BNB Chain, an infrastructure that supports the creation and execution of decentralized applications (dApps) and allows users to transact in digital currencies seamlessly and securely.

At NewCoinHub, we provide up-to-date and comprehensive data about YFII.finance Token (YFII) including its current price, trading volume, liquidity status, and the number of holders. We also supply the official smart contract address, crucial for those interested in further exploration or investment.

Please note that the world of cryptocurrency can be volatile and unpredictable. We encourage all visitors to perform their own due diligence and research when considering investments. For the most accurate and recent data, continue to refer to this page, as we strive to update our information in real-time.

Read on to learn more about YFII.finance Token (YFII) and find answers to some frequently asked questions.

Token description

## What Is DFI.MONEY (YFII)? DFI.MONEY, also known as YFII, is a fork of popular decentralized finance ([DeFi](https://coinmarketcap.com/alexandria/article/what-is-decentralized-finance)) aggregator platform yearn.finance ([YFI](https://coinmarketcap.com/currencies/yearn-finance/)). Launched in July 2020, it aims to optimize returns for DeFi investors while adhering to changes proposed in an upgrade plan called YIP-8. In addition to protocol changes, DFI.MONEY has also released new products, chief among which, the Vault, it describes as its “killer product.” The native token of DFI.MONEY is YFII, a fixed-supply token which liquidity providers earn in accordance with their network interaction. ### Who Are the Founders of DFI.MONEY? DFI.MONEY originated as a hard fork of yearn.finance, the aggregator for DeFi returns created by Andre Cronje. Cronje left the original incarnation of yearn.finance, iEarn, in early 2020, only to return to continue its development, whereupon its popularity grew considerably as DeFi became more mainstream. In July 2020, mining and farming of yearn.finance’s YFI token ended, and a proposal to protect liquidity provision from whales earned 80% support among protocol participants. However, it was not adopted due to not meeting yearn.finance’s requisite 33% quorum requirement. As a result, a group of users opted to hard fork the protocol to create DFI.MONEY, with its own token, YFII. The hard fork implemented the proposal, known as YIP-8, which makes YFII rewards decrease each week, following a pattern popularized by [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) (BTC). #### What Makes DFI.MONEY Unique? DFI.MONEY essentially fulfils the same role in the DeFi marketplace as yearn.finance, subject to different protocol rules for its token and with some new features. Its appeal is thus aimed at users of its predecessor who voted in favor of YIP-8, as well as newcomer DeFi investors who want to maximize returns by providing liquidity. DFI.MONEY’s website states that its protocol is community-owned and does not offer commercial incentives such as developer rewards by default. Users join one or both of two liquidity pools which feature [Curve](https://coinmarketcap.com/exchanges/curve-finance/) (CRV) or [Balancer](https://coinmarketcap.com/currencies/balancer/) (BAL), earning YFII tokens as a reward for providing liquidity. DFI.MONEY also introduced a new feature, the Vault, which seeks to gain users the highest returns of any token automatically according to user-submitted strategies, without the users themselves manually setting up transactions. #### **Related Pages**: Read more about yearn.finance [here](https://coinmarketcap.com/currencies/yearn-finance/). Read more about Harvest Finance [here](https://coinmarketcap.com/currencies/harvest-finance/). New to crypto? Find the answers to all your questions with [Alexandria](https://coinmarketcap.com/alexandria/categories/crypto-basics), CoinMarketCap’s dedicated education resource. #### How Many DFI.MONEY (YFII) Coins Are There in Circulation? YFII is an ERC-20 standard token with a fixed supply of 40,000 YFII. According to the characteristics set out and accepted in YIP-8, no premine, presale or developer-allocated tokens were taken from the total supply. DFI.MONEY states that the only way of earning YFII is by providing liquidity to the protocol. Tokens are distributed according to liquidity provision, with rewards decreasing weekly. Each of the two liquidity pools began with a supply of 20,000 YFII. A schedule confirms that token distribution was completed 10 weeks after it began, at the end of September 2020. ### How Is the DFI.MONEY Network Secured? DFI.MONEY states that YFII has a guaranteed fixed supply of 40,000 tokens which cannot be manipulated by developers. This was made possible by sending keys allowing minting of new tokens to a so-called “blackhole” address, and access to them is permanently lost. Developers published links to the transactions showing transfer of the keys to the blackhole. ### Where Can You Buy DFI.MONEY (YFII)? YFII has become a popular trading token since its launch. As of October 2020, it is available on multiple major exchanges, with trading pairs featuring cryptocurrencies, [stablecoins](https://coinmarketcap.com/alexandria/article/what-is-a-stablecoin) and other DeFi tokens. [Binance](https://coinmarketcap.com/exchanges/binance/), [OKEx](https://coinmarketcap.com/exchanges/okex/) and [Huobi Global](https://coinmarketcap.com/exchanges/huobi-global/) are among the exchanges with the largest YFII volume. Still a crypto newbie? Read our [easy guide](https://coinmarketcap.com/how-to-buy-bitcoin/) to buying Bitcoin or any other cryptocurrency.