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25 - YFI: Farming the Farmers | Andre Cronje

Bankless

Bankless

Technology, News, Tech News

4.7 • 1.2K Ratings

🗓️ 10 August 2020

⏱️ 99 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Episode: #25
August 10, 2020

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Tools from our sponsors to go bankless:

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Andre Cronje calls himself just another DeFi dev, but you can't help but wonder, is he's underselling himself with that title?

In a few short months he single-handedly created a fleet of DeFi yield farming money robots that locked up over $400m in assets in his yearn protocol. He launched a YFI token that grew in value by over 1,000% in its first week, one of the most explosive price charts crypto has ever seen.

No pre-mine, no VC, no founders reward.

Maybe a better title is King of the Yield Farmers.

DeFi's Satoshi.

Who is this guy?

What did he build and why is it brilliant?

Why did YFI go from $3 on July 17th to $5000 on August 8th?

This is everything you need to know about yearn, YFI, and Andre.

We cover:

  • How Andre's really feeling
  • What's up with "I test in prod"
  • Why high YFI price can be bad
  • How Yearn automates yield farming
  • Andre's money robots
  • Incenting strategy writers
  • Risks of yearn
  • Launching YFI to scale
  • Why people buy YFI
  • Organic governance
  • Is Andre The Joker?
  • What's coming next

Join us next Monday for a fresh episode!

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Resources discussed:

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Episode Actions:

  1. Try yearn protocol - "tested in prod" you could lose it all
  2. Get involved in yearn governance
  3. Listen to SOTN#7 - YFI Token Magic w/ Daryl Lau

Also...subscribe to Bankless YouTube to watch State of the Nation every Tuesday.

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Not financial or tax advice. This podcast is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.  Do your own research.

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to Bancless, where we explore the frontier of Internet Money and Internet Finance.

0:18.0

This is how to get started, how to get better, and how to front run the opportunity.

0:22.0

This is Ryan Sean Adams. I'm here with David Hoffman and we are here to help you become more

0:27.6

bangless. David, how are you doing today? Just fantastic Ryan. It came out of an interview with Andre Cronier, the creator of the Why Earn protocol and the

0:39.4

Wifey token.

0:41.1

Some people may know this token as the YFI token, the YIFI token, the YIFI token, the Wi-Fi token.

0:46.4

Apparently, according to Andre, it's the Wi-Fi token.

0:49.8

And this protocol, Yern, just kind of came out of nowhere

0:53.0

and exploded into the Defi ecosystem

0:55.3

and got everyone really, really excited.

0:57.8

Specifically with about how the token came to be,

1:01.0

how the protocol came to be, and also the fact that the creator Andre allows the

1:07.0

token to govern his life. And so that is how Andre came to be on the Bankless Podcast, we submitted a proposal to the Why Earned Governance page

1:16.8

that asked for opinions as to whether or not Andre should come on the Bankless Podcast.

1:21.6

Of course, it passed with flying colors at 95 percent and so here we are recording with

1:26.1

Andre Kronie creator of the urine protocol. So he was compelled to come on the podcast. In his words he had no choice and you know as we were

1:35.3

interviewing Andre I was kind of thinking like what should the what should the episode title

1:40.1

name be for this in fact like what like what is Andre? He, you know, he calls himself just an ordinary

1:46.4

D-Fi dev, but he's almost like this king of yield farmers because he's raised both this group of money robots to do yield farming out of all the

1:57.2

defy opportunities that are out there.

1:59.6

And he's also created a cohort, a group of other yield farmers that are writing strategies for this

2:06.7

why-earned protocol thing.

...

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