Learn more about these three tokens:
What is yearn.finance?
Yearn.finance is a decentralised aggregator for various protocols running on the Ethereum blockchain allowing users to optimize their earnings on crypto assets through lending and trading services.
Launched in February 2020 and formerly known as iEarn, it is one of the emerging decentralized finance (DeFi) projects. Yearn.finance capitalizes on a practice commonly known as “yield farming,” which allows users to lock up crypto assets in a DeFi protocol in order to earn more cryptocurrency.
The higher the amount of crypto assets locked in, the greater the value awarded by the protocol. When more assets are locked in, it means more tokens are awarded by the protocols.
In its first month of operation, the yearn.finance platform attracted nearly $800 million in assets, making it one of the fastest-growing DeFi projects to date.
Yearn.finance’s goal is to make the growing DeFi space easier for those who are not familiar with complex trading and activities like yield farming.
YFI is a token built on the Ethereum blockchain following the ERC20 standard. The native token YFI is used for governance over the network and is distributed exclusively through active participation and liquidity provision.
What is BitTorrent?
BitTorrent was created by developers Bram Cohen and David Harrison. In 2018, The Tron Foundation, led by Justin Sun acquired the BitTorrent Foundation. This resulted in the launch of the BTT token in 2019.
In the early 2000s, BitTorrent made waves when it launched as a peer-to-peer file sharing network, becoming a household name among the users of the torrent technology and wider file-sharing community.
BitTorrent has since expanded to those interested in decentralized solutions and cryptocurrency and branched out into paid services, offering VPN capabilities and ad-free browsing. Among its main added features are BitTorrent Speed, which uses the BTT token as part of its operations.
Connecting content creators with their audience
With BTT tokens, users can give new value to their contributed computing resources and mitigate the need for fiat currencies or intermediaries in the transaction process.
BTT is BitTorrent’s native cryptocurrency and is a TRC-10 standard token that is issued on TRON’s blockchain. BTT is used in exchange by users who request files and wish to have access to faster download times and providers who have to be compensated for sharing the files.
What is Chiliz?
Chiliz is the leading digital blockchain and fintech provider for sports and entertainment. They developed the world’s first blockchain-based fan engagement platform Socios.com, which uses CHZ as an exclusive on-platform currency.
Founded in Malta in 2018, Chiliz provides sports & entertainment entities with blockchain-based tools to help them engage & monetize their audiences. Some of the renowned sport clubs in partnership with Chiliz include Chicago Bulls, Paris Saint Germain or FC Barcelona.
Elevating fan engagement in sports entertainment
Chiliz's goal is to bridge the gap between the active and the passive fan by providing sports fanatics a Fan Token which can act as a tokenized share of influence.
CHZ Tokens are required to participate in Fan Token Offerings (FTO) or purchase Fan Tokens which are used to participate in polls and surveys and be rewarded through active engagement.
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As with every other supported token on Coinhako, we endeavour to update our users on key news about each project through our various channels. The Coinhako platform also features a News Feed section where you will be able to receive all the latest updates on the other top DeFi projects, like uniswap, polkadot, band protocol, as well as YFI, BTT and CHZ.
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All opinions expressed here by Coinhako.com are intended for educational purposes, taken from the research and experiences of the writers of the platform, and should not be taken as investment or financial advice.