YFI, whose YTD performance has dropped by 91%, is still under active development

Arman Shirinyan

The long-forgotten YFI is still being actively developed despite the horrendous market development

The token of the decentralized platform yearn.finance, which has lost over 90% of its value in the last year, is still being actively developed despite the absence of Andre Cronje, as reported by Santiment.

The project’s development activity is moving in contrast to the asset’s price, suggesting that the market performance of the project’s underlying token is not directly affecting its underlying growth and development.

📊 $YFI was once the #DeFi darling in #crypto, just a year ago. After the glory days of @andrecronjedev posts pumping #yearnfinance, the coin is down -91% over the past year. It’s not quite abandoned by the developers in the way you think. Check out our latest insights! https://t.co/TFks9MFRTa pic.twitter.com/YVsV8bYVYs

— Santiment (@santimentfeed) May 28, 2022

Unfortunately, YFI is not benefiting from the second wave of DeFi popularity growth and is not showing any signs of reversing, just declining in value over time. As Santiment suggests, funds that previously went into YFI went into newer projects like TIME, SPELL, and CVX.

As the new trend began to fade, YFI lost even more investment and capitalization. YFI received the final blow after February 2022 when the market saw a massive influx of tokens to both centralized and decentralized exchanges, suggesting that traders and investors are no longer willing to hold the unprofitable asset.

To sue

What is YFI?

Yearn.finance is a decentralized financial aggregator service used to automate decentralized services to maximize potential profits from yield farming. The service was mainly used to facilitate the functioning of the expanding DeFi space.

It is not yet clear if the project will continue to grow with the crisis in the DeFi space, but some investors believe that with the institutional takeover of the industry we could see a second breath from YFI as new investors would need a solution that would simplifies the decentralized finance experience.

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