$YFI from Yearn.Finance is the latest addition to HYVE’s growing list of payment options, taking us further along the road to further adoption. The journey to complete diversification of our payment options is spearheaded by our token integrations, and simultaneously succeeds in empowering freelancers and clients by permitting them to have full control over their payment methods.
HYVE will continuously work to improve its ecosystem and attract users from diverse communities, we hope to see new users joining HYVE as a result of this integration seeing as Yearn Finance has a dedicated community due to its reputation of being one of the most decentralized projects in cryptocurrency.
What is Yearn Finance?
Yearn Finance is the leading force in combating centralization, it consists of a group of protocols that enable users to optimize their earnings by offering yield generation, lending aggregation, and more on the blockchain.
One of the main products offered by Year Finance is their yVault, the crypto version of a savings account, where you simply deposit and leave it all to Yearn Finance to route it through investment strategies that seek to generate the highest yield available in from other projects in DeFi, the yVault represents a passive-investing strategy.
Some of the other products offered include: Earn - helping users identify the highest interest rates earned when lending an asset, APY - a data table displaying interest rates across lending protocols and Zap, where with just one click several trades are bundled into one helping users save on costs and labor.
What sets it apart from other DeFi projects is the fact that it is governed by $YFI token holders. It all began with its fair launch which saw the founders receive no special treatment or token allocation, this incentivized the community to be engaged and productive in collectively producing and governing the range of DeFi products mentioned above. Moreover, HYVE hopes that the enthusiasm and organic promotion seen in the Yearn Finance community will be mirrored at HYVE with the help of this integration, of not just the $YFI token but of our two communities subsequently.
Yearn Finance has proven the possibility that crypto tokens hold as a decentralized coordination and governance tool. $YFI is the core native cryptocurrency of a high-performance DeFi aggregator, it is a central piece of the automated system. Each $YFI represents a controlling stake in the development of the smart contract.
Moreover, Yearn Finance offers indisputable security with its open-source code that is vetted by the community, the protocol is maintained by various independent developers and the services are provided using only code removing all intermediaries and using $YFI as the governance key. The entire ecosystem is controlled by $YFI token holders that submit and ultimately vote on proposals, thus all users benefit from a streamlined approach to DeFi.Yearn is multi-chain and currently found on Ethereum, Fantom, Arbitrum, and more.
If you’re already convinced about the power of $YFI and the immense utility of Yearn Finance, you can now add the following contract addresses to your wallets:
Thoughts from HYVE…
Our referral program has gone live since the launch of HYVE 2.0, we look forward to seeing our community expand with your friends and family joining the freelancing world and watch you get rewarded whilst they start their crypto journey on HYVE, the freelancing platform that is setting the bar for incredibly low fees: with 0.9% for jobs listed in HYVE, 2.9% for jobs listed in ETH, BTC or stablecoins, 7.9% for jobs listed in altcoins and the cherry on top is that if you pay the fee in HYVE it’s half, so 3.95% and 1.45% respectively!
One of the things that we are looking forward to is integrating subscriptions on HYVE which will help freelancers promote themselves and their services in the complex web3 world. Keep an eye out for a special announcement relating to something fun and artsy, which will expand the HYVE ecosystem. Don’t forget to leave us some content suggestions on our Twitter for our Tik-Tok account in the meantime.
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