{"id":42346,"date":"2021-05-12T14:03:01","date_gmt":"2021-05-12T11:03:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=42346"},"modified":"2025-08-30T22:49:02","modified_gmt":"2025-08-30T19:49:02","slug":"yearn-finance-token-surges-above-90000-after-woofy-release","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/yearn-finance-token-surges-above-90000-after-woofy-release\/","title":{"rendered":"Yearn Finance token surges above $90,000 after Woofy release"},"content":{"rendered":"<p>The DeFi project token yEarn Finance (YFI) hit an all-time high around $95,000 after the Woofy cryptocurrency release. In 24 hours, the digital asset rose by more than 25%.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"485\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/yfi-1-1024x485.png\" alt=\"The yEarn Finance project token jumped above $90,000 after the Woofy release\" class=\"wp-image-134951\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/yfi-1-1024x485.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/yfi-1-300x142.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/yfi-1-768x364.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/yfi-1-1536x728.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/yfi-1.png 1805w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>YFI\/USD chart on Binance. Data: TradingView.<\/figcaption><\/figure>\n<p>As of writing, the asset was trading at around $83,527. The token ranked 56th in CoinMarketCap&#8217;s ranking with a market capitalization of $3.046 billion.<\/p>\n<p>According to <a href=\"https:\/\/defipulse.com\/yearn.finance\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">DeFi Pulse<\/a>, over the last 30 days the value of funds locked on the yEarn Finance platform rose by 67% to $4.36 billion. Over the same period the broader DeFi market rose by 53%.<\/p>\n<p>Earlier, the project&#8217;s lead developer under the handle banteg introduced the Woofy token, which has a two-way peg to YFI and a low price. The asset trades on the decentralized exchange Uniswap.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Introducing Woofy<\/p>\n<p>The blue dog companion token of Wifey utilizes special Woof technology which allows two-way conversion between the two. That means you can be exposed to a lighthearted dog coin and the DeFi darling blue chip at the same time.<a href=\"https:\/\/t.co\/cTpzfQvo2c\">https:\/\/t.co\/cTpzfQvo2c<\/a> <a href=\"https:\/\/t.co\/rkm4R2AsWo\">pic.twitter.com\/rkm4R2AsWo<\/a><\/p>\n<p>\u2014 banteg (@bantg) <a href=\"https:\/\/twitter.com\/bantg\/status\/1392231374086676483?ref_src=twsrc%5Etfw\">May 11, 2021<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the GitHub repository, banteg provided a function to convert YFI into Woofy and back. The token is based on the Ethereum blockchain.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The ratio is always 1 YFI = 1,000,000 WOOFY. Woofy is always fully backed by YFI,&#8221; the developer said.<\/p>\n<\/blockquote>\n<p>In February, Grayscale, the digital assets manager, <a href=\"https:\/\/forklog.com\/en\/news\/grayscale-registers-yearn-finance-trust-as-yfi-climbs-to-46000\">registered a trust for yEarn.Finance<\/a>, after which the token rose more than 35% in two days.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The DeFi project&#8217;s token yEarn Finance (YFI) hit an all-time high around $95,000 after the Woofy cryptocurrency release. In 24 hours the digital asset rose more than 25%.<\/p>\n","protected":false},"author":1,"featured_media":42347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1869],"class_list":["post-42346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-yearn-finance"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=42346"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42346\/revisions"}],"predecessor-version":[{"id":42348,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42346\/revisions\/42348"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/42347"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=42346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=42346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=42346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}