DeFi Daily News,August 20th, 2020

1.On Ethereum, DeFi is boosting fees again. Bitcoin (BTC) trading around $11,658 as of 20:00 UTC (4 p.m. ET). Slipping 2.6% over the previous 24 hours, which trancation range was around $11,613-$12,100.

2. According to the Chainnews, the Binance market showed that the price of the DeFi aggregation revenue agreement yearn.finance token YFI once exceeded 12,800 USDT this morning, rising by more than 25% in 24 hours, and temporarily reporting 12,505 USDT, the price surpassing Bitcoin (11,786 USDT) for the first time.

3. According to the Chainnews, the DeFi project Yam Finance (YAM) announced the launch of the YAM token migration plan, that is, the start of the migration process from YAM 1.0 to YAM 2.0. The YAM 2.0 migration smart contract took effect at 0:20 AM on August 20, Beijing time, and currency holders must complete the migration within the next 72 hours. After 0:20 am on August 23, YAM 1.0 tokens cannot be migrated. There are currently three migration methods, one is to migrate through the yam.finance website, the other is to migrate through the migration option in etherscan, and the third is to migrate through the DeFi asset management platform Zapper.fi. The address of the migration contract is 0xf1d7c9E4c57a5C1902f4A4aE2630d2Da78Ffb1c1. Chain Wen previously reported that the YAM 2.0 migration smart contract has passed the PeckShield security audit service.

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