Driving most of the excitement in crypto, DeFi protocol Yearn Finance is a community-driven robo-adviser for yield by aggregating DeFi protocols. In addition to introducing the yield farming or liquidity mining program, Yearn Finance also pioneered in launching the Vault product. This refers to capital pools that automatically generate yield for users based on opportunities present in the market.
Distributed through liquidity mining, $YFI is the native token of the Yearn Finance protocol. YFI is used primarily for its governance mechanism, allowing holders to vote on proposals, govern the Yearn ecosystem. It is also eligible to receive a portion of the protocol profits.
The introduction of governance tokens by major DeFi protocols led to the summer DeFi boom.