YFI on Binance: Everything You Need to Know

Quick definition

YFI is the governance token of Yearn Finance, a DeFi protocol on Ethereum that automates yield strategies (“vaults”) to seek the best risk-adjusted returns for deposited assets. On Binance, you can trade YFI against various pairs (e.g., YFI/USDT) just like any other spot or derivatives market. Binance+1

What is Yearn Finance (and why YFI matters)?

Yearn Finance builds smart-contract “vaults” that route users’ deposits across DeFi protocols (e.g., Aave, Curve) to optimize yield with automated strategies, saving users time, gas, and complexity. YFI coordinates the protocol’s governance: holders propose and vote on upgrades, fees, and strategy changes. Binance

Key facts about YFI

• Role: Governance/coordination token for Yearn Finance. docs.yearn.fi
• Network & contract: Ethereum ERC-20, contract 0x0bc529c00C6401aEF6D220BE8C6Ea1667F6Ad93e. docs.yearn.fi+1
• Supply: 36,666 YFI minted (fixed max supply). docs.yearn.fi
• Launch: Summer 2020; YFI had a “fair launch” with no presale or team allocation. Unchained+1

YFI on Binance

• Listing: Binance listed YFI on 2020-08-10 with pairs including YFI/BNB, YFI/BTC, YFI/BUSD, YFI/USDT. Binance
• Symbols on TradingView: Spot is typically BINANCE:YFIUSDT; perpetual futures use BINANCE:YFIUSDT.P. TradingView+1

Tip: Always double-check which market (spot vs. perpetual) you’re viewing or trading.

How Yearn works (in one minute)

1. Deposit: Users deposit tokens (e.g., DAI) into a vault.
2. Automated strategies: The vault allocates funds across integrated DeFi protocols seeking the best risk-adjusted yield, auto-compounding when possible.
3. Governance: YFI holders govern parameters, fees, and new strategies through proposals and voting. Binance

Official links (provenance)

• Website: https://yearn.fi/ yearn.fi
• Docs (YFI page): https://docs.yearn.fi/contributing/governance/yfi (token role, supply, contract) docs.yearn.fi
• Token contract on Etherscan: 0x0bc529c00C6401aEF6D220BE8C6Ea1667F6Ad93e Ethereum (ETH) Blockchain Explorer
• Binance listing announcement (historical): “Binance Lists yearn.finance (YFI)” (2020-08-10) Binance
• Intro guides: Binance Academy’s “What is Yearn Finance (YFI)?” Binance

Risks & notes

• Smart-contract risk: Vault strategies interact with multiple DeFi protocols; exploits or bugs can cause losses.
• Market risk: YFI is highly volatile; always do your own research and manage position size.
• Impostor sites: Use yearn.fi and the official token contract only; avoid similarly named domains. yearn.fi+1

Sources & further reading

• Yearn Finance official site and docs (product & YFI details). yearn.fi+1
• Binance Academy — “What is Yearn Finance (YFI)?” (overview). Binance
• Binance Support — YFI listing announcement (pairs & date). Binance
• TradingView — YFI markets/symbols. TradingView+1
• Etherscan — YFI token contract (verification). Ethereum (ETH) Blockchain Explorer

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