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Episode: #25 - YFI: Farming the farmers
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!

Resources discussed:

• yEarn protocol

• yEarn governance

• YFI price chart

• 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

1. Try yearn protocol- "tested in prod" you could lose it all

2. Get involved in yearn governance

3. Listen to SOTN#7 - YFI Token Magic w/ Daryl Lau

Also...subscribe to Bankless YouTube to watch State of the Nation every Tuesday.

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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

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