The much anticipated second iteration of the popular DeFi project Yearn Finance was set to launch on 7th Dec. The new version will be deployed gradually and is expected to complete by the end of 2020. The updated version is said to enhance the capabilities of the premier Decentralized Finance (DeFi) protocol and is highly likely to push the YFI price above $50K.
According to Yearn developer proposal, the v2 Vaults will contain the following improvements:
- Streamline the development cycle of new strategies using a standard API
- Permit a Vault to have multiple strategies simultaneously.
- Simplify the QA/Security process for Vaults, to ensure the highest quality code
- Make sure that the Vaults are tested to handle different types of Strategy risk/volatility thresholds/return
- Make it simpler and safer for integrators to use Vaults in their projects.
So far there was no impact in the YFI price, currently the YFI price is hovering around the $28 mark. Previously, YFI recorded $43K which was ATH with V1 simple vaults.
Now the system has been updated with tweaking the basic infrastructure and introduction of a unique synergy of yVaults, controllers, and strategies, which work in combination to generate higher returns for the platform users. Thus, the mark of $50K doesn’t seem so far.
YFI Price All Set To Hit New ATH
Crypto Enthusiast with Twitter handle @Crypto_McKenna believes that YFI price will reach ATH by end of the year.
In a recent tweet, an active trader and analyst stated that the YFI token could be in the process of mirroring a highly bullish Ethereum fractal from 2016, which would indicate that 2021 will be an incredibly positive year for the DeFi benchmark.