What is YFI used for?

Modified on Sat, 18 Feb 2023 at 03:36 PM

YFI is a governance token that gives holders the right to determine the future of Yearn Finance by voting a referendum or comment on a specific platform. YFI is distributed when users lock other cryptocurrencies on the Yearn Finance network.

However, Andre Cronje, the creator of Yearn Finance, wanted the YFI to have a limited amount of around 36,000 YFI. He already published a referendum on the platform, and the community mostly supported his decision with 99.97% of voters agreeing.

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