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Y Curve Interest Rates Reach 2,000%, Assets Under Management Grows Tenfold After Token Launch

Depositors to the Y Curve decentralized finance (defi) pool received as much as 2,000% in interest this Saturday and about 600% (annualized) for the entire day. Before this increase, liquidity providers had been earning an aggregate rate of 10.58%. The latest interest rate growth follows Yearn Finance’s release of a YFI token to govern the Y pool that runs on the Curve defi platform, reports Trustnodes. The same report notes that as soon as the token launched, the assets under management (AUM) in the pool “jumped from about $8 million to $100 million.” Announcing the release of the ERC20 token…

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