Blog post 2: Yearn and Digibyte Updates

cryptocurrency short blog Jan 14, 2021

1.13.2021 YFI Proposal Change

One of the most popular DeFi projects, YFI has risen dramatically since its July 17, 2020 launch. Its developer, Andre Cronje, wanted a platform that optimized yield and lending for users, hence the name: YFI or yEarn.Finance, as in you earn. The coin was the first governance token of its kind since it was not pre-mined, pre-sold, or available on exchanges: you could only earn the YFI token from using the protocol. On 1/13/2021, there was a proposal to switch YFI staking rewards with YFI buybacks on the open market. If adopted, this change would simplify the platform and remove the staking requirement to earn YFI. Moreover, capital appreciation from buybacks could reduce taxes that would otherwise be considered dividend income. More proposal details here. Currently, an informal poll shows >90% support among the community. 

Another update from 1/7/2021: "Binance Staking Launches YFI Staking with Up to 4.49% APY"

1.13.2021 New DGB Integrations

DigiByte turned 7 years old on January 10th, 2020! DigiByte (DGB) is "one of the safest, fastest, longest and most decentralized UTXO blockchain in existence." There are three main layers that provide this awesome utility. Decentralized applications (dApps) can be built on top of the DigiByte blockchain. There is also a middle layer utilizing five proof of work algorithms for security. Lastly, the core protocol is global and runs on thousands of servers, phones, and so on with completely open source software. On January 11, Simplex, a principal member of Visa in Europe, announced that they integrated DigiByte into their platform, allowing millions to purchase DGB with fiat through debit and credit cards. Moreover, on January 13, DGB integrated with ZelaaPay, a payment gateway that is deploying Point-Of-Sale terminals around UAE and the Middle East to promote crypto payments. 


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