Description
Squirrel Finance is a decentralized finance (DeFi) platform launched on Ethereum in 2020, aimed at simplifying and securing yield earning on cryptocurrency holdings. It offers a range of products including yield farming optimization, insurance (Insure), and savings, tailored to maximize returns and minimize risks. Squirrel Finance is distinguished by its native utility token, NUTS, which facilitates transactions, access to exclusive pools, and platform governance, enabling token holders to influence the project's future direction. The platform's focus on security is evident through its decentralized insurance product designed to protect users against smart contract risks, addressing the issue of high-risk, high-reward "Yolo-farming" prevalent in the early DeFi farming scene. However, the initial tokenomics of NUTS faced challenges in promoting the adoption of the Insure product, prompting a reassessment to better align with the DeFi landscape. This ecosystem strives to empower participants with simple and secure DeFi tools, thereby fostering a safer and more accessible environment for earning yield on digital assets.
Squirrel Finance is a decentralized finance (DeFi) platform launched on Ethereum in 2020, aimed at simplifying and securing yield earning on cryptocurrency holdings. It offers a range of products including yield farming optimization, insurance (Insure), and savings, tailored to maximize returns and minimize risks. Squirrel Finance is distinguished by its native utility token, NUTS, which facilitates transactions, access to exclusive pools, and platform governance, enabling token holders to influence the project's future direction. The platform's focus on security is evident through its decentralized insurance product designed to protect users against smart contract risks, addressing the issue of high-risk, high-reward "Yolo-farming" prevalent in the early DeFi farming scene. However, the initial tokenomics of NUTS faced challenges in promoting the adoption of the Insure product, prompting a reassessment to better align with the DeFi landscape. This ecosystem strives to empower participants with simple and secure DeFi tools, thereby fostering a safer and more accessible environment for earning yield on digital assets.
