The Yearn.finance (YFI) token was listed on Binance on September 2, 2020.
This came as a surprise to many in the cryptocurrency community as YFI is not a project that is affiliated with Binance. The listing was first announced by Binance CEO Changpeng Zhao on Twitter.
The listing of YFI on Binance caused the price of the token to surge by over 30%. This is not the first time that the listing of a token on Binance has caused its price to surge.
In the past, we have seen this happen with tokens such as Fetch.AI (FET) and Matic Network (MATIC).
NOTE: This article discusses the listing of YFI on the Binance cryptocurrency exchange. It is important to note that crypto trading and investing can be extremely volatile and risky. As such, any form of investment should be undertaken with caution and with a thorough understanding of the risks involved. Before investing, it is important to research all aspects of the cryptocurrency, its associated project, and any potential risks associated with it. Additionally, it is advised that investors only use funds they are willing to lose and should never invest more than they can afford to lose.
It is important to note that YFI is not available to trade on Binance US or Binance UK at this time. This is due to regulatory reasons.
It is possible that YFI will be listed on these exchanges in the future.
The listing of YFI on Binance is a big deal for the project. It shows that Binance is willing to list tokens that are not affiliated with them.
This could open up the door for more projects to get listed on Binance in the future.
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In mid-2020, Decentralized Finance (DeFi) protocols began to emerge as a popular way to earn interest on cryptocurrency holdings without having to entrust one’s assets to a centralized entity. These protocols generally run on Ethereum, but in the summer of 2020, the Binance Smart Chain (BSC) appeared on the scene and began to challenge Ethereum’s dominance in the DeFi space. One of the most popular protocols on BSC is Yearn.finance (YFI), which allows users to pool their assets and earn yield from a variety of sources.
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