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A Fork of Ethereum’s Yearn.Finance (YFI) Has Surged Over 100% In 24 Hours

The Ethereum-based Yearn.finance (YFI) was forked multiple times in July and August as developers looked to replicate the original’s success. For context. YFI surged around 100,000% from its first-known price in around a week, shocking many investors and making fortunes for Ethereum users. One such fork that attempted to replicate the success of YFI was YFII. The coin started off with a bang, immediately trading above $1,000 as investors thought this was the next best thing. The coin garnered the support of many in the crypto space, including Dovey Wan of Primitive Capital and Michael “Boxmining” Gu. But as fast…

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Balancer Blacklisted The Confusing YFII Token: Report

The asset management protocol Balancer blacklisted the confusing fork of yEarn’s governance token YFI sparking the censorship DeFi talk as we are reading more in the upcoming altcoin news today. The automated asset management protocol Balancer blacklisted YFII which is a fork of the yEarn governance token YFI and the confusing fork was announced earlier this week. YFII was the recipient of the vast community contention which critics cited unaudited smart contracts and safety risks as well as centralized control as the main reasons why yield farmers should avoid the project. YFII continues to move forward as it recently burned…

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Scam Accusations, Copycat YFI Cryptocurrency Offers 18% Weekly ROI

A fork of YFI, YFII token, has popped up on the crypto market this week, offering a weekly ROI of over 15% on yCRV staking with a 788% APY. While several independent researchers are still auditing the protocol’s code, the fact the protocol’s admin keys were destroyed makes YFII decentralized enough to farm it. Runaway Success YFI Gets a Copycat on Balancer YFII, token copying the hugely successful YFI that’s been making strides in the DeFi world, has popped up on Balancer and caused a massive stir in the community. Launched on July 26, the protocol claims to be “a…

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