What is DFI.Money (YFII)?
DFI Money is a decentralized finance platform built on the Ethereum blockchain. The DeFi platform is a forked platform of the popular DeFi aggregation platform Yearn Finance. The platform offers an innovative suite of DeFi products like DFII mining, crypto liquidity staking, crypto options investment solutions and algorithmic stablecoin investment solutions.
Who are the founders of DFI.Money?
The founder of DFI Money is Andre Cronje who was also involved with Yearn Finance before founding DFI Money. Lucky Uwakwe is the co-founder of DFI Money (YFII) . The founders of DFI Money moved from Yearn Finance after the YIP-8 fork on Yearn Finance.
How does DFI.Money work?
DFI Money’s investment and trading offerings are connected to its own native vaults for users to switch between one type of crypto trade to another. The vault is what basically powers the platform inherently. DFI Money’s core offering is its liquidity provision which helps lenders and borrowers to leverage crypto assets availability. DFI Money also offers high APY to liquidity providers.
Key Attributes of DFI.Money
DeFi Vaults
DFI Money’s vault is the main component of the platform that helps traders switch between different crypto assets and crypto investments like swap, lending, options and many more.
Suite of DeFi Products
Users can earn good APY by adding liquidity to crypto pools and pairs. Users can also choose algorithmic stablecoin trading and crypto options. Users can choose to invest in Curve Finance, Balancer through DFI Money.
High Yield Pools
DFI Money vaults offer users to switch from different pools to earn high APY almost seamlessly. Users get recommended crypto pools that they can switch to get better returns, thanks to smart vaults.
What sets DFI.Money apart?
DFI Money is a decentralized exchange that offers some of the flagship offerings that are similar to Yearn Finance. With less changes in their protocol the platform offers a more lucrative investment offering for decentralized exchange traders. In addition, the platform is designed by the same team that worked with Yearn Finance.
Most importantly, DFI Money also has a fixed supply of 40,000 tokens which cannot be tampered with. The security of these tokens were secured by sending keys to a ‘blackhole’ address that cannot be accessed by anyone.
How to buy DFI.Money (YFII) in India
Use this three-step process to buy your first YFII Money using the CoinDCX crypto investment app
- Sign Up for the CoinDCX account: Enter a valid email address and a user name on the sign-up page. Once the Email Id has been verified, set a strong password to secure your account.
- Verify the account: You need to complete your KYC, to buy YFII on the CoinDCX platform. All you need to do is upload the documents and your account will be set up in 15 minutes.
- Buy YFII: After the account has been verified, you can deposit any amount of fiat currency you are comfortable with and start your crypto journey!