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Topic: YFI and YFII (Read 210 times)

full member
Activity: 980
Merit: 100
100xCoin
October 15, 2020, 05:13:31 PM
#21
both of these projects are from the Defi category, it's natural that they both experience high increases,
but YFI is the one that has become hot lately, because the price exceeds Bitcoin, for YFII the price is still at $ 5000,
yes for me the total supply makes this a little fair, because high demand and high liquidity,
DEFI is still hot, you can try staking in this project, good luck
hero member
Activity: 1582
Merit: 522
October 15, 2020, 10:47:16 AM
#20
If I look at this, YFI and YFII are on the same platform Binance with different contract codes. Maybe, previously there were some doubts about the value of the YFII token, whose parent token was YFI assuming it was just an ordinary token fork. As a result of the price hikes, investors and traders think again.
A lot of new project these days so indeed investors should also be careful investing to this kind of project. Even though it is listed in the popular exchange there’s no assurance that their project will sustain its demand in the future. It's just a fork of yfi and I can say people just go with the trend to earn profit, of course.  Let’s see in the future if this project will still stand out in this industry.
sr. member
Activity: 1036
Merit: 329
October 15, 2020, 09:39:31 AM
#19


That is the thing that I fear the most, even though it has been supported by the exchange binance but still the risk is too high to be included the YFI and YFII projects.
if it's too late to get in from the hype it will be hard to turn back.


Binance is a company that want to earn money from its users if they add a coins in their exchange it doesn't mean  it is legitimate project. they just saw a potential of the tokens they add  and also the potentials of earning that can give to them by having daily volum liquidity in exchnage for adding it there .they are just  updating  thier exchange with new trend by adding every new project that they think will help their exchange to be always on top.
hero member
Activity: 1652
Merit: 536
100xCoin
October 15, 2020, 09:07:05 AM
#18
I just recently read a news that Andre Cronje, the main developer of YFI have already quit managing YFI, this might probably mean the end to the project, it first started to the problem raised from EMN, and followed by domino effect market price decline of the projects in which he is associated with. I see the potential to the project YFI to push the value of Decentralized Finance, but without the leading DeFi now, I don't think others will be worthy to be trusted anymore. Unless, projects made by Vitalik and his team shows up in the market to revive DeFI again.

I wouldn't say that YFI is a leading DeFi project. There are many other projects that started with decentralized finance long before YFI was created. Because DeFi is not just yield farming. For example, there is Synthetix, Compound and projects like that. DeFi will continue developing whether YFI fails or not because it is far bigger than just yield farming.
This YFI project does have a high price and can create a very good sensation in these conditions because it has a very limited supply and unfortunately it can enter a large exchange like Binance so it will become a place of price manipulation, from such conditions it is very good if used because it has strong support and will have price movements that can provide a lot of profit.
member
Activity: 574
Merit: 12
October 15, 2020, 08:44:38 AM
#17
I was a bit confused today when I saw YFII as top gainer on the binance market. I was not familiar with the token. I only know YFI which has been trending for the past 1 month. I checked the Coingecko here https://www.coingecko.com/en/coins/dfi-money and I saw that they are different defi project YFI websites is https://yearn.finance/ while YFII is https://dfi.money/. I am just curious to know the connection between the two projects because YFII looks like a new version of YFI. If not YFII could have gone for another ticker name. All probably they want to tap from the YFI FOMO

It's a fork of YFI. YFI already gets too much attention so that YFII gets success too. Not only YFI and YFII other tokens of Y series got success too. But I do not like YFI or YFII or any other token of its series. It looks like market manipulation too me or how does a project become so popular that it cross the price of Bitcoin. Now you can see its loses its value more than 50% which is ridiculous.
hero member
Activity: 1330
Merit: 568
October 15, 2020, 08:21:35 AM
#16
I just recently read a news that Andre Cronje, the main developer of YFI have already quit managing YFI, this might probably mean the end to the project, it first started to the problem raised from EMN, and followed by domino effect market price decline of the projects in which he is associated with. I see the potential to the project YFI to push the value of Decentralized Finance, but without the leading DeFi now, I don't think others will be worthy to be trusted anymore. Unless, projects made by Vitalik and his team shows up in the market to revive DeFI again.

I wouldn't say that YFI is a leading DeFi project. There are many other projects that started with decentralized finance long before YFI was created. Because DeFi is not just yield farming. For example, there is Synthetix, Compound and projects like that. DeFi will continue developing whether YFI fails or not because it is far bigger than just yield farming.
sr. member
Activity: 616
Merit: 363
In Code We Trust
October 15, 2020, 08:12:15 AM
#15
I just recently read a news that Andre Cronje, the main developer of YFI have already quit managing YFI, this might probably mean the end to the project, it first started to the problem raised from EMN, and followed by domino effect market price decline of the projects in which he is associated with. I see the potential to the project YFI to push the value of Decentralized Finance, but without the leading DeFi now, I don't think others will be worthy to be trusted anymore. Unless, projects made by Vitalik and his team shows up in the market to revive DeFI again.
sr. member
Activity: 546
Merit: 252
Proof-of-Stake Blockchain Network
October 15, 2020, 07:38:20 AM
#14
...If you have heard about the story of bitcoin and its forked coin and it will be the same as the story of YFI and YFII. it's just like bitcoin and bitcoin cash. it's a fork coin and it will not go for another ticker because the popularity that has already gotten by YFFI came from YFI.

In fact, YFI, in addition to YFII, has 5 more forks.
- YFII (DFI.money) https://dfi.money/
- YFV (YFValue) https://yfv.finance/
- YFIE (yfiexchange financial) https://yfiexchange.finance
- YFL (YF Link) https://yflink.io/
- YFFI (yffi.finance) https://www.yffi.finance
- Wifey.finance https://wifey.finance

All these forks, in my opinion, were made for one purpose, in order to get a big profit on the wave of hype. And I wouldn't be surprised if we see more YFI forks in the near future.

Lol, there are countless forks of YFI on uniswap and, most of them either already died or are slowly dying whereas, some did the rug pull and ran away with the user's fund (i was the victim of such projects lol)
sr. member
Activity: 1036
Merit: 329
October 15, 2020, 06:24:41 AM
#13
I was a bit confused today when I saw YFII as top gainer on the binance market. I was not familiar with the token. I only know YFI which has been trending for the past 1 month. I checked the Coingecko here https://www.coingecko.com/en/coins/dfi-money and I saw that they are different defi project YFI websites is https://yearn.finance/ while YFII is https://dfi.money/. I am just curious to know the connection between the two projects because YFII looks like a new version of YFI. If not YFII could have gone for another ticker name. All probably they want to tap from the YFI FOMO

I guess there is no connection with both two projects . since the YFI is the first one to launch and get positive feedback from investors they decided to copy the ticker so it will not hard for them to be known and attract new investors to come in them using almost the same name. They are just upgrading the idea they own its good strategy to have almost the same name of the successful project and it happen many times already .
hero member
Activity: 812
Merit: 512
October 15, 2020, 05:58:26 AM
#12
As far as I know, YFII is a fork of YFI , a lame copy!
After YFI FOMO, a lot of yield farming coins and also scam coins have born, Now they have been so many that seems confusing, I saw YFI when it was 92$ and I didn't buy it, the only stupid I could do it to do nothing about it and i did that!
legendary
Activity: 1176
Merit: 1433
To the Moon
October 15, 2020, 05:52:53 AM
#11
...If you have heard about the story of bitcoin and its forked coin and it will be the same as the story of YFI and YFII. it's just like bitcoin and bitcoin cash. it's a fork coin and it will not go for another ticker because the popularity that has already gotten by YFFI came from YFI.

In fact, YFI, in addition to YFII, has 5 more forks.
- YFII (DFI.money) https://dfi.money/
- YFV (YFValue) https://yfv.finance/
- YFIE (yfiexchange financial) https://yfiexchange.finance
- YFL (YF Link) https://yflink.io/
- YFFI (yffi.finance) https://www.yffi.finance
- Wifey.finance https://wifey.finance

All these forks, in my opinion, were made for one purpose, in order to get a big profit on the wave of hype. And I wouldn't be surprised if we see more YFI forks in the near future.
sr. member
Activity: 868
Merit: 261
October 15, 2020, 04:53:06 AM
#10
It is very funny for me that both of them are being used as a pump and dump coin on binance. And the trends are totally same. They always follow eachother in seconds. It looks like being done by bots.
member
Activity: 518
Merit: 18
October 15, 2020, 04:45:41 AM
#9
sr. member
Activity: 1498
Merit: 392
September 01, 2020, 03:45:13 PM
#8
Can this coin be called a hype coin? because every YFI coin and so many other names with such high prices and continuous pumping is this a lot of interest with new investors? I am quite surprised by the new coins why this can happen even I am still in doubt if I have fear of the hype that occurs during the trend after it is thrown out, even though this is very little supply, I should still be suspicious of this coin.

Obviously, we can call it a hype coin already, and that is why we have seen a fork of it, similar to what happen to bitcoin, when everyone wanted to fork because there is where the money is. But the only difference is that bitcoin is very strong, volume and consensus and liquidity wise. As compare to YFI or it's fork, hasn't been tested and we don't know how well it will perform in a bearish market. So we will see how things pan out in the future for Defi.
hero member
Activity: 1834
Merit: 693
September 01, 2020, 03:42:43 PM
#7
YFII is the China version of YFI, it seems China miss out on the recent DEFI boom and they are trying to build their own community. Both will surely survive remember how NEO was marketed as the China Ethereum. The thing here is that YFI has a very strong founder and it is helping the price to keep souring

Yes, I think China wanted to join the bandwagon, or at least some some Chinese wealthy personality because the whole Defi thing really took off and we have seen it even higher than bitcoin. And then could justify this, I mean we all know how they hate bitcoin and even putting it below their list of coins.

NEO was touted to be the next Ethereum since 2017, but we haven't seen that it didn't took off as expected. The supply of YFI is what makes it very attractive for more traders and it really bring the hype on altcoin market in the last couple of months now.
hero member
Activity: 1694
Merit: 523
September 01, 2020, 02:47:21 PM
#6
YFII is the China version of YFI, it seems China miss out on the recent DEFI boom and they are trying to build their own community. Both will surely survive remember how NEO was marketed as the China Ethereum. The thing here is that YFI has a very strong founder and it is helping the price to keep souring
hero member
Activity: 1876
Merit: 567
September 01, 2020, 01:46:12 PM
#5
Can this coin be called a hype coin? because every YFI coin and so many other names with such high prices and continuous pumping is this a lot of interest with new investors? I am quite surprised by the new coins why this can happen even I am still in doubt if I have fear of the hype that occurs during the trend after it is thrown out, even though this is very little supply, I should still be suspicious of this coin.
I guess so. After being noticed and saw with a huge pump, there were other projects that were also named as YFI but with a twist and extended name. It's more of a hype and that's the power of these Defi's, they can be on the highest hype mode that we can ever imagine.
Be suspicious if you are about to invest in this coin because not everything that goes up, will remain at the top. Observe if the pricing of YFI is sustainable for the next weeks and months.
sr. member
Activity: 658
Merit: 456
Bad times are temporary, never give up. :)
September 01, 2020, 01:41:49 PM
#4
Can this coin be called a hype coin? because every YFI coin and so many other names with such high prices and continuous pumping is this a lot of interest with new investors? I am quite surprised by the new coins why this can happen even I am still in doubt if I have fear of the hype that occurs during the trend after it is thrown out, even though this is very little supply, I should still be suspicious of this coin.

Yes it is. The way this coin has created hype in the market now is a very scary thing. These coins are supported by big exchanges like Binance. I don't know how big the motive is, I don't know which group is behind it. But of course there is a big gang behind these coins, the big exchanges would not have listed these coins so easily without the gang. But all I know is that we have to be careful not to fall prey to the hype of these coins.
hero member
Activity: 1218
Merit: 789
NFT
September 01, 2020, 01:01:22 PM
#3
Can this coin be called a hype coin? because every YFI coin and so many other names with such high prices and continuous pumping is this a lot of interest with new investors? I am quite surprised by the new coins why this can happen even I am still in doubt if I have fear of the hype that occurs during the trend after it is thrown out, even though this is very little supply, I should still be suspicious of this coin.
sr. member
Activity: 894
Merit: 250
September 01, 2020, 11:52:56 AM
#2
Here you go

https://coinmarketcap.com/currencies/yearn-finance-ii/social/

Quote
The former name of DFI.Money is YFII Finance which is a fork of YFI project with YIP-8 implementation

If you have heard about the story of bitcoin and its forked coin and it will be the same as the story of YFI and YFII. it's just like bitcoin and bitcoin cash. it's a fork coin and it will not go for another ticker because the popularity that has already gotten by YFFI came from YFI.


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