The launch of Yearn Finance’s buyback program has already had a positive effect on prices, with token values increasing by 13% in the last 24 hours.
Stable growth and healthy financing increase the rally
Crypto Briefing reports that Yearn Finance has reached a total value of $ 2.5 billion. Days later, the protocol reported that the case had now reached $ 3 billion.
The main reason for this growth is the success of different strategies within Yearn ‘vaults’ that generate various returns. Project members develop different strategies to make a profit. These strategies are then made available to the public through the interface of the protocol.
With these new profits in hand, the management of the protocol made a buyback and build decision in January, and the application for the decision will begin this week.
The profit from the staking of YFI, the main asset of the protocol, will be used to buy back YFI from the market and increase the buying pressure on the asset price.
So far, only $ 300,000 has been committed to repurchase YFI; This number will increase over time and increase the shortage of YFI.