(These crypto reports are included in the MLRs).
Yearn Finance (YFI) is the leader in the decentralized finance space. Many DeFi applications need Ethereum (ETH) on which to operate as ETH is the oil in the engine. ETH is the most trustless asset on Ethereum. ETH will always have a monetary premium based on the trustlessness it offers DeFi applications as collateral. We have seen DeFi explode in value from $1 billion in June to over $15 billion today. USDC, Tether, and other off-chain assets exist on ETH. Volumes are at all-time highs.
With Ethereum, anything of value can be digitized. In the future, you will be able to tokenize the legal deed to your house, your car, and even the name of your website, plug it into DeFi, then borrow against it.
Ethereum, together with blockchain companies such as YFI and AAVE (which is also on the crypto list) will transform finance.
Crypto Report - YFI, ETH
|Published:||7 Dec 2020 10:09 ET|
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