25 - YFI: Farming the Farmers | Andre Cronje

Episode: #25
August 10, 2020

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Andre Cronje calls himself just another DeFi dev, but you can't help but wonder, is he's underselling himself with that title?

In a few short months he single-handedly created a fleet of DeFi yield farming money robots that locked up over $400m in assets in his yearn protocol. He launched a YFI token that grew in value by over 1,000% in its first week, one of the most explosive price charts crypto has ever seen.

No pre-mine, no VC, no founders reward.

Maybe a better title is King of the Yield Farmers.

DeFi's Satoshi.

Who is this guy?

What did he build and why is it brilliant?

Why did YFI go from $3 on July 17th to $5000 on August 8th?

This is everything you need to know about yearn, YFI, and Andre.

We cover:

• How Andre's really feeling
• What's up with "I test in prod"
• Why high YFI price can be bad
• How Yearn automates yield farming
• Andre's money robots
• Incenting strategy writers
• Risks of yearn
• Launching YFI to scale
• Why people buy YFI
• Organic governance
• Is Andre The Joker?
• What's coming next

Join us next Monday for a fresh episode!

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Resources discussed:

• yearn protocol
• yearn governance
• yfi price chart
• Acronym helper:
  • LP = liquidity provider
  • yearn (or "Y-earn") = Andre's protocol
  • cUSD, cDAI = stablecoins in Compound
  • TLV = total locked valued in a DeFi protocol
  • Look up other assets on DeFiMarketCap

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Episode Actions:

1. Try yearn protocol - "tested in prod" you could lose it all
2. Get involved in yearn governance
3. Listen to SOTN#7 - YFI Token Magic w/ Daryl Lau

Also...subscribe to Bankless YouTube to watch State of the Nation every Tuesday.

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Not financial or tax advice. This podcast is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Do your own research.