DiFy.Finance Price (YFIII)

What Is DiFy.Finance (YFIII)?

DiFy.Finance is an in-development software fork of yearn.finance (YFI) focused on mobile platform compatibility.

DiFy.Finance, like YFI, the platform it is based on, is an environment of decentralized finance (DeFi) lending aggregators: it allows users to provide liquidity for the ecosystem by parking their cryptocurrency tokens in a smart contract vault and earning interest in return.

By the virtue of it being an aggregator of lending services, YFIII users are able to optimize their interest yields in an automated manner by frequently rebalancing their investments between available options.

DiFy.Finance was launched on September 22, 2020, and was first listed on the DigiFinex exchange on September 28, 2020.

Who Are the Founders of DiFy.Finance?

As of October 2020, the founders of DiFy.Finance have not disclosed their identities, with a representative of the team claiming that the appropriate information will be published soon after launch.

What Makes DiFy.Finance Unique?

DiFy.Finance is part of the larger trend of decentralized finance: an industry that is focused on building decentralized financial instruments on top of existing smart-contract-enabled cryptocurrencies. These instruments include cryptocurrency lending, insurance, decentralized exchanges and other use cases.

As of October 2020, it is a rapidly growing industry with over $10 billion in locked assets, up from just over $500 million in October 2019.

YFIII specifically is an aggregator of cryptocurrency lending platforms, same as the platform it was forked from — yearn.finance. It allows users to deposit their cryptocurrency, which is converted into yTokens — on-blockchain obligations that are secured by collateral in a different cryptocurrency. These tokens are then automatically parked in different DeFi lending services in order to maximize the lenders’ profit in the form of interest.

YFIII’s unique advantage, and the reason for forking away from YFI, is to provide a more optimized crypto lending experience for mobile platforms.

Related Pages:

Click here to learn more about yearn.finance, the project YFIII was forked from.

Find more decentralized finance projects on our DeFi page.

How Many DiFy.Finance [YFIII] Coins Are There in Circulation?

YFIII’s maximum supply is limited to 30,000 tokens, all of which are set to be openly distributed among the direct participants of the ecosystem with no pre-sale/ICO stage. According to the team behind the project, none of the YFIII tokens have been pre-allocated to the team members.

How Is the DiFy.Finance Network Secured?

YFIII, like the project it is based on — yearn.finance — is built on top of the Ethereum blockchain, meaning that its network is secured by the same hash function as ETH — Ethash. Ethash is a proof-of-work function that belongs to the Keccak family of hash functions.

Where Can You Buy DiFy.Finance [YFIII]?

As of October 2020, YFIII is available on three exchanges:

    Decentralized exchange:

• Uniswap

  Centralized exchanges:

• DigiFinex
• Bilaxy