YFV TOKEN a Yield Farming Token Will make you Millionaire

YFV token which is popularly known as liquidity miners. YFV token is a governance token I.e.   rewarded to cryptocurrency yield farmers. With the help of the following example, you will understand better – suppose you are farming in the WETH/YFV pool on the balancer so, because of the automatic migration you will not be farming the same but WETH/VALUE on value liquid. VALUE also has governance powers as YFV but, the value will allow the YFValue protocol to evolve. There were very few chances to replace the YFV. In fact, VALUE has an equivalent price as YFV but this was a minor difference between them.

How will YFV VALUE swapping work? 

You may know that after the VALUE has been launched, everyone can swap between VALUE and YFV 1-to-1. Anyone can easily swap VALUE to YFV and hold or exchange. 

Know some important aspects before trading

• Before the migration to Value Liquid from Balancer ready to trade VALUE on Balancer after the transfer of Balancer YFV pools to Balancer VALUE pools After the migration, the person will not be ready to trade VALUE at Balancer any longer since liquidity for VALUE at Balancer will not exist. 
• You will then be ready to trade VALUE at Value Liquid instead. CEX and other DEX trading tools are going to be up to their listing process. The choice remains to swap VALUE back to YFV to trade the short term.

Does migration affect YFV Holders and Traders?

CEX and DEX (e.g. Uniswap) trading won’t be impacted. For those trading on Balancer, note the subsequent details: Before the migration to Value Liquid from Balancer, you’re ready to trade YFV normally on Balancer. After the migration, you’ll not be ready to trade on Balancer anymore since liquidity from YFV on Balancer will be migrated to Value Liquid then if you are interested then you can go for trade VALUE on Value Liquid. you’ll have to swap YFV to VALUE (1-to-1 swap) and may still trade useful on Value Liquid.

In short, before migration, you will be able to trade in YFV on balancer but, after the migration things wouldn’t remain the same. Then after may, you won’t have any rights to do the trade-in YFV balancer.

So, what’s the aim of farming these YFV tokens?

YFV is the governance token of YFValue protocol which suggests holders of the YFV token can use it to determine and update the functionality of YFV protocol and alter or update the speed of distribution of YFV tokens. People who stake in YFV pools have the proper vote on-chain for the distribution rate. Every weekend entire votes are going to be automatically counted and therefore the distribution rate of YFV is going to be automatically changed. On the other side, you’ll also trade your tokens for ETH or USDT on exchanges like Uniswap, Balancer, Hotbit, etc. 

Staking pool v2 is replaced 

Staking Pool v2 is additionally a pool where you’ll stake YFV. However, unlike other pools, you’ll NOT be rewarded with YFV and can only receive USD and vETH. 

• Staking Pool v2 will be replaced by Governance Vault on 15 September 2020.

• Consistent with the Team it’s a mixture of the facility of YFV governance and yield farming strategies. Holders of YFV are ready to deposit their tokens into this governance vault and would reciprocally receive USD, vETH, and a profit share of YFV within the upcoming Value Vaults. 
• The YFV is going to be wont to farm other protocols for yield. 
• The profits from these farming activities are going to be wont to repurchase YFV and can be distributed amongst stakers within the Governance Vault. 

Smart contracts under the Governance Vault are also being investigated by auditors.

Value Liquid –  

Value Liquid is an upcoming exchange and can be launched on 18th September 2020. After its opening, all the liquidity from the YFV pools is going to be automatically migrated from Balancer to Value Liquid. And once the VALUE token is introduced, liquidity from Uniswap or SushiSwap also can be migrated to Value Liquid.

Value Vaults – 

Value Vaults are going to be available from 21st September 2020, it’s currently within the final stages of testing. These Value Vaults are a subsequent core feature of the project and are meant to realize the long-term profitability of YFV. Technical details and ideas for Value Vaults haven’t yet been released by the team to stop their strategies from being forked and to maximize value for YFV stakers. 

What are the risk factors?

One of the massive risks of YFV farming comes from potential vulnerabilities in the staking contract. 

On 30th August 2020 YFV announced that the audit of YFV Protocol had been completed by The Arcadia Group. consistent with YFV, the audit identified a little number of low severity issues concerning code quality and health. 

No high or critical severity issues were found. The letter from Arcadia and a summary of the audit report are often found here. There’s only ever going to be 21,000,000 YFV tokens so a number of the value of the token is due to its limited supply. 

YFV’s development as a platform has been restrained. Introduction of the latest governance keys another time for VALUE so as to form upgrades resurfaces this risk. YFV holders will vote on a key protocol which the DAO will operate under a 48-hour timelock contract, a type that has been adopted across DeFi projects today.

Nevertheless what happens when every YFV token has been mined? 

This is often unknown and it’s worth noting that YFV is currently backed by the other asset. YFV (YEarn) stimulated a governance token that’s rewarded to cryptocurrency yield farmers. YFV functions as a DeFi Yield aggregator – they’re going to release a “Vault” like a product that can deploy different strategies to farm DeFi yields. $YFV within the governance coin on the platform which can be wont to vote on Decentralized Autonomous Organisation (DAO) decisions. 

It sets itself apart by also minting two elastic supply coins, $vUSD, and $vETH – coins which will rebase to focus on the worth of USD and Ethereum respectively. These tokens will function almost like “Ampleforth” in terms of rebasing functionality.