YFI: Farming the Farmers | Andre Cronje
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Episode: #25 - YFI: Farming the farmers with Andre Cronje
August 10th, 2020
Andre Cronje calls himself just another DeFi dev, but you can't help but wonder, is he's underselling himself with that title?
In a few short months he single-handedly created a fleet of DeFi yield farming money robots that locked up over $400m in assets in his yearn protocol. He launched a YFI token that grew in value by over 1,000% in its first week, one of the most explosive price charts crypto has ever seen.
No pre-mine, no VC, no founders reward. Maybe a better title is King of the Yield Farmers.
DeFi's Satoshi.
Who is this guy? What did he build and why is it brilliant? Why did YFI go from $3 on July 17th to $5000 on August 8th?
This is everything you need to know about yearn, YFI, and Andre.
We cover:
- How Andre's really feeling
- What's up with "I test in prod"
- Why high YFI price can be bad
- How Yearn automates yield farming
- Andre's money robots
- Incenting strategy writers
- Risks of yearn
- Launching YFI to scale
- Why people buy YFI
- Organic governance
- Is Andre The Joker?
- What's coming next
Join us next Monday for a fresh episode!
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Resources discussed:
- yEarn protocol
https://yearn.finance/ - yEarn governance
https://gov.yearn.finance/ - YFI price chart
https://www.coingecko.com/en/coins/yearn-finance
Acronym helper:
- LP = liquidity provider
- yearn (or "Y-earn") = Andre's protocol
- cUSD, cDAI = stablecoins in Compound
- TLV = total locked valued in a DeFi protocol
- Look up other assets on DeFiMarketCap
Episode Actions
- Try yearn protocol- "tested in prod" you could lose it all
https://yearn.finance/ - Get involved in yearn governance
https://gov.yearn.finance/ - Listen to SOTN#7 - YFI Token Magic w/ Daryl Lau
http://podcast.banklesshq.com/sotn7-explosive-special-guest-daryl-lau-yfi-token-magic-eth-pumped-defi-risk
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