The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Nascent Crypto Asset Erupts 1,022% in Less Than a Week As Altcoin Bull Run Intensifies

by Daily Hodl Staff
November 24, 2020
in Altcoins, Trading

A newcomer in the decentralized finance (DeFi) space has exploded 1,022% in a matter of days.

Yearn Finance DOT (YFDOT) is designed to be a DeFi version of the legacy cryptocurrency Polkadot (DOT). It is part of the YFSwap platform which aims to bring DeFi farming functions to the market dynamics of major cryptocurrencies while significantly reducing supply by 1,000x.

The goal is to eliminate scenarios where holders and developers suddenly sell their tokens en masse, known in the industry as rug pulls, by introducing non-inflationary DeFi assets that allow users to farm yields.

In addition to Polkadot, YFSwap has created other DeFi tokens including Yearn Finance Bitcoin (YFBTC) and Yearn Finance Ethereum (YFETH).

According to Yearn Finance DOT’s website, users will be able to stake, farm, barter, borrow and mortgage YFDOT tokens. YFDOT also comes with scalability and interoperability features which are the core components of Polkadot.

CoinGecko reveals that YFDOT surged from a low of $12.48 on November 18th to an all-time high of $140 on November 23rd. The move represents an increase of over 1,022% in six days.

Source: CoinGecko

To further avoid rug pulls, the amount of the YFDOT team’s tokens will be locked for 18 months.

In addition, the project will eliminate 15% of the total supply of 18,493.75 YFDOT in three burning events in an effort to incentivize long-term holders.

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Yudhistirama

Submit a Press Release

Industry Announcements

  • FIFA Rivals Launches Worldwide, Bringing Non-Simulation Arcade Football Action to Mobile Devices
    June 12, 2025
  • Polemos Announces TGE and a Game-Changing Strategic Partnership With BUFF Accelerating Web 3.0 Adoption
    June 12, 2025
  • Bitpanda Opens the Gate to Web 3.0 With Vision (VSN)
    June 12, 2025
  • tBTC Launches on Starknet, Expanding Bitcoin’s Role in Multi-Chain DeFi
    June 11, 2025
  • Allnodes Launches Bare-Metal Servers for Solana Validators and Builders
    June 11, 2025
  • Falcon Finance Announces Custody Integration With BitGo for USDf Synthetic Dollar
    June 11, 2025
  • Interactive Strength Inc. (Nasdaq: TRNR) Enters Into $500 Million Facility To Acquire AI-Focused FET Tokens and Launch Crypto Treasury Asset Strategy
    June 11, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$105,038.14
$105,038.14
0.1%
Ethereum
$2,517.70
$2,517.70
0.86%
BNB
$648.74
$648.74
0.44%
Solana
$146.37
$146.37
0.25%
XRP
$2.16
$2.16
0.82%

Spotlight

  • Michael Saylor Doubling Down on Bitcoin Price Prediction As BTC Holds $100,000 Level
    June 8, 2025
  • Capital One Forced to Face Lawsuit Alleging Bank Steals Commissions From Shopping Browser Extension: Report
    June 8, 2025
  • Analyst Unveils New All-Time High Price Target for Bitcoin This Month, Says New Bubble Brewing in Crypto
    June 8, 2025
  • Wells Fargo Customer Loses $61,000 in Fake Virus, Fake Apple Care, Fake Bank Fraud Department Scam: Report
    June 8, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl