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.


Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select atleast one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article