DiFy.Finance price 

YFIII

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.

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

Decentralized exchange:

• Uniswap

Centralized exchanges:

• DigiFinex
• Bilaxy

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

Find more decentralized finance projects on our DeFi page.