The gains came as iearnfinance developers said a forthcoming token will offer users exposure to a basket of ether liquid staking derivatives (LSD) as the sector gains favor among investors. By shauryamalwa
Yearn Finance’s native YFI token surged as much as 39% in the week through Friday and trading volume soared almost five-fold as developers said they will soon introduce a product that allows users to gain exposure to a basket of liquid staking derivatives through one token.
“Introducing yETH, an LSD of LSDs. Get exposure to a basket of LSDs in one token. Spread your risk. Boosted yields,” YearnSome analysts say that such tokens can help active crypto investors diversify risk, which may be driving demand for YFI. Curve is a stablecoin swapping service, while veYFI and veCRV refer to derivative tokens issued to stakers who lock up YFI and Curve's CRV tokens for a period of time to increase platform liquidity in exchange for yield rewards.Yearn is a set of protocols working in conjunction with the Ethereum blockchain that allows users to maximize their passive earnings on their crypto assets through lending and trading services. YFI is Yearn’s governance token.
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