Yearn Finance (YFI) Pushes Past $27K after MakerDAO Integration

Yearn Finance’s governance token YFI surged Thursday as traders assessed its acceptance at MakerDao as a collateral asset. Their bullish bias came out of Yearn Finance’s growth as a decentralized asset management platform, primarily after it started making beneficial updates to its protocol via democratic means.

The Yearn Finance’s weekly newsletter commented: “The acceptance of YFI on MakerDAO’s system is an important milestone for the Yearn ecosystem as it opens up the possibility that YFI can be used to mint DAI in upcoming v2 yVaults that utilize YFI as the base asset.” As covered earlier, the Yearn Finance token is en route to $30,000, according to a textbook bullish setup.

Timeline of Multi-collateral-dai, Yearn-finance