Cryptocurrency Q&A
What is YFI used for?
What is YFI used for?
Valentina
Thu Oct 24 2024
|
5 answers
1184
I'm wondering about the utility of YFI. Specifically, I want to understand what YFI is commonly used for and its practical applications.
5 answers
EnchantedDreams
Sat Oct 26 2024
Staking YFI tokens is a requirement for casting votes on Yearn Finance's platform.
Was this helpful?
72
78
CryptoNinja
Sat Oct 26 2024
YFI serves as an ERC-20 token within the Yearn Finance ecosystem.
Was this helpful?
140
43
Chiara
Sat Oct 26 2024
Once a user casts a vote, their staked YFI tokens remain locked for a period of three days.
Was this helpful?
218
79
Elena
Sat Oct 26 2024
Governance on Yearn Finance relies heavily on YFI tokens.
Was this helpful?
388
23
Andrea
Sat Oct 26 2024
Holders of YFI tokens are eligible to participate in the governance process by staking their tokens.
Was this helpful?
366
35
