Due to the trend of major cryptocurrencies outperforming smaller DeFi tokens, the YFI short could be a short-term hedge.
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Further, why YFI is so expensive?
Compared to other tokens, the price of YFI is high due to its unique monetary supply. Its supply is capped at 30,000, which is significantly lower than most digital assets. While the price of YFI has surpassed $16,000, its market capitalization remains below $400 million.
Wherefore, how do I get YFI? The easiest way to get YFI is to buy with DAI or ETH on 1inch exchange — a decentralized trading platform or so called DEX. For more experienced DeFi users, buying from Balancer directly with DAI will cost least gas and slippage most of the times.
Really, what is YFI DeFi?
Finance, like YFI, the platform it is based on, is an environment of decentralized finance (DeFi) lending aggregators: it allows users to provide liquidity for the ecosystem by parking their cryptocurrency tokens in a smart contract vault and earning interest in return.
How many YFI tokens are there?
30,000 YFI