Unchained Andre Cronje of Yearn Finance on YFI and the Fair Launch: 'I'm Lazy' - Ep.190
Sep 15, 2020
Andre Cronje, the mastermind behind yearn.finance, dives into the world of DeFi and the innovative concept of the YFI token's fair launch. He reflects on his unconventional journey and the transformative power of community in governance. With candid insights, he discusses the soaring value of YFI and why traditional business structures might be ripe for change. He also addresses his controversial 'testing in production' approach and the challenges faced in decentralizing financial systems, all while maintaining a laid-back demeanor.
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Yearn Finance Explained
- Yearn Finance simplifies yield optimization by automating the movement of funds between lending platforms.
- It prioritizes capital preservation, ensuring users receive at least their initial deposit back.
YFI's Fair Launch
- Andre Cronje launched the YFI token via a "fair launch," giving no tokens to himself or VCs.
- He did this because he wanted more people involved in the project so he wouldn't have to do all the work himself.
YFI's Price Surge
- Andre Cronje doesn't focus on YFI's price and claims he doesn't understand why it has risen so high.
- He values its high price because it attracts talented individuals to the project.