DFI.Money
Crypto Overview
Overview
DFI.Money (YFII) is a fork of yearn.finance that emerged in 2020 as a DeFi yield farming aggregator platform. The protocol aims to optimize yield farming returns for users by automatically moving their funds between different DeFi protocols to maximize returns.
Intended Utility
The primary purpose of YFII is to serve as a governance token for the DFI.Money protocol, allowing holders to vote on proposals and changes to the platform. It also gives users access to the platform's yield optimization strategies.
Actual Usage Analysis
The platform has seen declining usage since its peak in 2020-2021. Current on-chain data shows minimal activity in terms of total value locked (TVL) and daily active users. Development activity has also been notably low in recent periods.
Token Distribution
YFII has a maximum supply of 40,000 tokens. The initial distribution included no pre-mine for the team, with tokens being distributed through mining and liquidity provision. However, there is limited transparency regarding current token holdings among major stakeholders.
Revenue Model
The platform generates revenue through performance fees on yield farming strategies. These strategies primarily involve moving user funds between various DeFi lending and liquidity provision protocols, many of which operate on interest-based mechanisms.
Development Activity
Recent GitHub activity shows minimal updates to the protocol's core infrastructure. The last significant protocol update was implemented over a year ago, raising concerns about the project's ongoing development and maintenance.
Crypto Impact
To assign a comfort level investing in DFI.Money from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to DFI.Money.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.