DiFy.Finance (YFIII) Is an In-Development Software Fork of Yearn.Finance (YFI)

DiFy.Finance, like YFI, the platform it is based on, is an environment of decentralized finance (DeFi) lending aggregators: it allows users to provide liquidity for the ecosystem by parking their cryptocurrency tokens in a smart contract vault and earning interest in return.

By the virtue of it being an aggregator of lending services, YFIII users are able to optimize their interest yields in an automated manner by frequently rebalancing their investments between available options.

What Makes DiFy.Finance Unique?

DiFy.Finance is part of the larger trend of decentralized finance: an industry that is focused on building decentralized financial instruments on top of existing smart-contract-enabled cryptocurrencies. These instruments include cryptocurrency lending, insurance, decentralized exchanges and other use cases.

As of October 2020, it is a rapidly growing industry with over $10 billion in locked assets, up from just over $500 million in October 2019.

YFIII specifically is an aggregator of cryptocurrency lending platforms, same as the platform it was forked from — yearn.finance. It allows users to deposit their cryptocurrency, which is converted into yTokens — on-blockchain obligations that are secured by collateral in a different cryptocurrency. These tokens are then automatically parked in different DeFi lending services in order to maximize the lenders’ profit in the form of interest.

YFIII’s unique advantage, and the reason for forking away from YFI, is to provide a more optimized crypto lending experience for mobile platforms.

How Many DiFy.Finance [YFIII] Coins Are There in Circulation?

YFIII’s maximum supply is limited to 30,000 tokens, all of which are set to be openly distributed among the direct participants of the ecosystem with no pre-sale/ICO stage. According to the team behind the project, none of the YFIII tokens have been pre-allocated to the team members.

How Is the DiFy.Finance Network Secured?

YFIII,…

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