0 to $2000 in two days! DeFi protocols Uniswap and Yearn Finance release governance tokens MTA and YFI, showing astonishing price surges.

Following the third halving of block rewards, Bitcoin's volatility has been decreasing daily, hovering around $9,000 for almost two months. Ethereum has also remained stagnant. Fortunately, decentralized finance (DeFi) has shown a strong performance during this period. After a series of DeFi governance tokens were launched, two new DeFi projects have recently introduced governance tokens: Meta (MTA) and YFI.

Decentralized lending platform Compound initiated its governance token COMP issuance plan in mid-last month, sparking a liquidity mining craze in the crypto market. Compound's locked assets have shown significant growth, surpassing MakerDAO to become the largest DeFi platform. Despite COMP stabilizing after the frenzy, DeFi remains the hot topic in the current market.

mStable Stablecoin Aggregator Protocol

The emerging DeFi project mStable launched its governance token Meta (MTA) on the 15th. mStable is a stablecoin aggregator protocol, where the stablecoin mUSD can be minted with various USD stablecoins to address the issue of too many fragmented USD stablecoin projects in the DeFi market. Notable venture capital firm Three Arrows Capital is one of the strategic investors in mStable. The structure includes:

• mUSD: USD stablecoin backed by USDC, DAI, TUSD, USDT in a 1:1 ratio.
• Meta (MTA): Governance token allowing participation in mStable proposals, voting, and staking rewards.
• Save: Users who hold mStable assets in Save can earn platform fees and interest on their underlying assets in lending platforms.
• Swap: Users can swap underlying assets (TUSD, DAI, USDC, and USDT) with zero slippage.

mStable initiated liquidity mining for the governance token Meta (MTA) on Balancer on the 15th, with an initial price of 0.15 mUSD. The price spiked to 2.4 USD within minutes of trading, reaching 3.89 USD at the time of writing, a surge of over 2000%.

Decentralized Finance Yield Aggregator yearn.finance

Formerly known as yearn, yearn.finance interfaces with numerous DeFi protocols. On the 18th, the team officially released the governance token YFI, emphasizing that the token has no inherent value. Founder Andre Cronje stated in a Blog:

To relinquish control over the yearn protocol (because we are lazy and don't want to deal with it), we released the YFI token, which is completely worthless and has no demand. Again, it has zero financial value, no pre-mine, no sale, you can't buy it, it won't be listed on Uniswap, no auctions, and the team doesn't hold any YFI tokens.

According to Etherscan data, YFI has a maximum supply of only 30,000 tokens, and providing liquidity on the following platforms earns the tokens:

• yearn.finance
• ytrade.finance
• iliquidate.finance
• leverage.finance
• yswap.exchange

YFI briefly surpassed $2,000 on the Balancer exchange, but according to CoinGecko, its price was $782 at the time of writing, ranking 341 in market capitalization.