YFValue/YFV Status 2026: Value DeFi and Firebird Migration

YFV, Value DeFi and Firebird status in 2026

The YFV farming instructions in the original guide are no longer current. YFValue moved from YFV to the VALUE token in 2020, rebranded as Value DeFi, and later moved its community and products toward Firebird Finance. Firebird subsequently discontinued its farming tokens and moved yield-farming products into a legacy area. None of the former YFV, Value DeFi or Firebird apps could be verified as a working, maintained interface on 13 August 2026.

Item	Current status
YFV Seed Pool v2	Closed on 3 November 2020
YFV to VALUE conversion	Historical 1:1 migration; official support ended 4 November 2020
YFV token	Legacy ERC-20 at `0x45f24BaEef268BB6d63AEe5129015d69702BCDfa`
VALUE token	Later governance token at `0x49E833337ECe7aFE375e44F4E3e8481029218E5c`
Value DeFi	Former app is unavailable; it later migrated toward Firebird Finance
Firebird yield products	Moved to legacy status and no longer developed in June 2022
HOPE / HOPE-P	Firebird said these farming tokens would be discontinued and migrated to FBA
Current migration portal	No working official conversion or claim route was verified

The sequence YFV → VALUE → HOPE → FBA describes several separate, time-limited project changes. It does not mean that every holder automatically received each later token or that a conversion remains available today.

What happened to YFValue?

YFValue announced a rebrand to Value DeFi Protocol on 6 October 2020. The accompanying token transition replaced YFV with VALUE at a 1:1 ratio. A governance vote later set 3 November 2020 as the Seed Pool v2 closing date and 4 November 2020 as the end of YFV support. The old tutorial therefore cannot be used to farm, claim or migrate tokens now.

Value DeFi later announced another transition into the Firebird ecosystem. A 2021 announcement offered VALUE holders a historical route into HOPE, and Firebird announced in 2022 that HOPE and HOPE-P would themselves be discontinued in favor of FBA. That 2022 plan allowed 180 days to claim FBA on Fantom. This review found no current official portal that safely reopens any of those old migrations.

Value DeFi exploit history

The Arcadia audit discussed in the original guide covered early YFV contracts; it was not a guarantee that later Value DeFi products were safe. On 14 November 2020, Value DeFi's MultiStables Vault suffered a flash-loan exploit. The project's official post-mortem reported a net loss of roughly $6 million and said the affected Vault v2 code had not been audited.

Value DeFi reported another major exploit in May 2021 involving about 4,290 ETH plus roughly $900,000 in FARM, BAC and BASv2. These incidents occurred after the 2020 YFV audit and are essential context for anyone reading the archived risk section below.

YFV and VALUE contract addresses

The legacy Ethereum YFV token is 0x45f24BaEef268BB6d63AEe5129015d69702BCDfa. Verify it on Etherscan.

The later Ethereum VALUE token is 0x49E833337ECe7aFE375e44F4E3e8481029218E5c. Verify it on Etherscan. Tokens with the same ticker on another chain are not automatically related.

The original claim that there would only ever be 21 million YFV became obsolete when governance restructured emissions and introduced VALUE. Project documentation said the eventual VALUE supply after migration would be approximately 6.37 million. Neither number should be used as a current valuation thesis without checking the exact contract and present circulating supply.

Safety steps for former YFV or VALUE holders

Do not connect a wallet to yfv.finance, valuedefi.io, firebird.finance or an imitation migration page based on an old article or market-directory link.
Do not pay an upfront “activation,” “unlock” or migration fee. No current official claim route was verified.
Identify the asset by its full contract address and use a block explorer in read-only mode first.
Check the original deposit or migration transaction to identify the exact contract involved.
Do not assume vUSD or vETH can still rebase, hold a peg or be redeemed. Their original utility was changed during the project's early evolution.
If funds remain in an old contract, review verified source code and seek independent technical help before attempting a direct withdrawal.
Never disclose a seed phrase or private key to anyone offering recovery support.

Corrections to the original YFV guide

Seed Pool v2 and the listed Balancer reward pools are historical and should not be used.
The YFV-to-VALUE swap is not an open-ended current migration; official YFV support ended in November 2020.
Value DeFi and Firebird's former app domains are not working, maintained product interfaces.
The vUSD and vETH descriptions were early plans, not current peg or redemption guarantees.
The early YFV audit did not cover all later Value DeFi code, and a later unaudited vault suffered a major exploit.
The 21 million YFV supply statement was superseded by governance and token migration changes.
“No impermanent loss” never meant no risk: stablecoin, smart-contract, admin-key, oracle and platform risks still applied.

Original YFV farming guide (historical archive)

The following 2020 guide is preserved substantially as written for historical context. It does not describe a current yield opportunity. Referral parameters and live links to obsolete YFV staking pages have been removed for safety.

YFV (YFValue) is a YEarn inspired governance token that is rewarded to cryptocurrency yield farmers (also known as liquidity miners). YFV functions as a DeFi Yield aggregator – they will release a “Vault” like product which will deploy different strategies to farm DeFi yields. $YFV in the governance coin on the platform which will be used to vote on Decentralized Autonomous Organisation (DAO) decisions. YFV sets itself apart by also minting two elastic supply coins, $vUSD, and $vETH – coins that will rebase to target the price of USD and Ethereum respectively. These tokens will function similar to “Ampleforth” in terms of rebasing functionality. The team behind the project has chosen to remain anonymous.

The official website for YFV was yfv.finance.

Summary

YFValue functions as a DeFi Yield aggregator, releasing a “vault”-like product which will deploy different strategies to farm DeFi yields.
There are 2 types of pools for $YFV farming: Seed Pool v2 and Balancer Pool.
Farming $YFV also generates $vUSD, and $vETH – these rebase to target the prices of USD and Ethereum respectively.
$YFV acts as a governance token for voting on decisions relating to the project. Some people also trade the token on exchanges.

How do you farm $YFV

Yield farmers can farm $YFV in two types of pools:

Option 1: Seed Pool v2. This your classic yield farming pool – tokens are staked into the pool and $YFV will be distributed over time. There is no risk of impermanent loss

Log onto yfv.finance (historical; do not use)
Connect your wallet
On the “Seed Pool v2” page, deposit either USDT, USDC, TUSD or DAI (i.e. stablecoins)
Click the Stake token button.

Option 2: Balancer Pools. This is the higher risk pool, where funds are added to a Balancer liquidity pool. This means the funds will be actively used in automated market making and possibly risk impermanent loss. On YFV there is a total of 8 Balancer Pools. For the purposes of this tutorial, let’s look at the example of using the WETH Balancer Pool of WETH:YFV.

Wrap Ethereum into $WETH using the ETH->WETH tool on the historical Balancer pool page.
Stake WETH & YFV in the historical Balancer Liquidity Pool.
This will generate BPT tokens
Stake BPT tokens on the historical yfv.finance/stake page in “Balancer (YFV-WETH)” Pool

How to claim your YFV

On the main page, you will easily be able to see how much you have staked into each pool, how much YFV is claimable and the ROI in USD.

To claim your rewards, click into the pool. There you will see several important items of information:
Next Epoch: When your next rewards will be paid out.
Your Estimated 24h Reward: Estimated earnings of YFV in 24 hours.
Rewards available: How many YFV tokens are available for collection.

Staking pool (Image credit: Denome)

You can claim your YFV rewards by simply clicking “Claim Rewards”. However, this requires gas fees so you need to consider the gas fees paid to stake your tokens in the first place etc and decide if it is actually worthwhile to collect your rewards.

How are people profiting off YFV? What do I do with the YFV tokens?

So what is the purpose of farming all these YFV tokens? YFV is the governance token of YF Value protocol. This means holders of the YFV token can use it to determinate and update the functionality of YFV protocol and change or update the rate of distribution of YFV tokens. Those that stake in YFV pools has the right to vote on-chain for the distribution rate. At the end of each week, the total votes will be automatically counted and the distribution rate of YFV will be automatically changed.

On the other hand, you can also trade your tokens for ETH or USDT on exchanges such as Uniswap, Balancer, Hotbit, BKEX and Bilaxy. The below chart shows the value of YFV/USD.

What is vUSD and vETH?

As you can see in the above section “How to claim your YFV”, in addition to YFV tokens, staking YFV also gives you vUSD and vETH tokens. A total of 1,000,000 vUSD and 1,000 vETH will be distributed to all the yield farming pools according to their percentages. According to YFV, once all the pools have been exhausted of YFV, vUSD and vETH will use an oracle price feed to match the prices of USD and ETH. Similar to Ampleforth (AMPL), there will also be a rebase of vUSD and vETH every 24 hours.

YFV Farming risks

The biggest risk of YFV farming comes from potential vulnerabilities in the staking contract. on 30th August 2020 YFV announced that the audit of YFV Protocol had been successfully completed by The Arcadia Group. According to YFV, the audit identified a small number of low severity issues relating to code quality and health. No high or critical severity issues were found. The letter from Arcadia and a summary of the audit report were formerly published at yfv.finance/audit.

There is also the question of the limited supply of YFV tokens. There is only ever going to be 21,000,000 YFV tokens so some of the (perceived) value of the token is because of its limited supply. But what happens when every YFV token has been mined or distributed? This is unknown and it is worth noting that YFV is currently backed by any other asset.

Minting Risks

One of the biggest concerns about YFV was the presence of minter keys – which could potentially mint an infinite number of $YFV tokens. Developers have stated that all minter keys are burned, and pools which could mint new tokens have also had minting features removed.

YFV had previously also confirmed and addressed community members’ concerns that there was a minting key oversight and exploit related to vUSD and vETH which would allow funds to be locked. What YFV did to remedy this was that they kept the minting keys until they were able to recover the funds that some users may have lost by farming in Pool 0. After that, the team transferred the governance keys of vETH and vUSD from YFV protocol to several members of the community to hold in safe custody. The community members selected were: Reuben Yap (COO of Zcoin), DeFi Dude, Matthew Neimerg (CEO of Cardinal Cryptography), TQT, Ian Ocasio and myself.

More Information

YFV Github archive
YFV Medium archive
YFV Telegram (historical)
YFV Discord (historical)

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Frequently asked questions

Is YFValue still active?

No working, maintained YFValue app was verified in August 2026. YFValue rebranded as Value DeFi in October 2020, and the original YFV pools and token support ended shortly afterward.

Can I still farm YFV?

No. The Seed Pool v2 and Balancer incentive instructions in this article describe a 2020 program. Seed Pool v2 closed on 3 November 2020, and no current official YFV rewards program was verified.

What is the official YFV contract address?

The legacy Ethereum contract is 0x45f24BaEef268BB6d63AEe5129015d69702BCDfa. Check every character on Etherscan because the YFV ticker can be copied by unrelated tokens.

What is the official VALUE contract address?

The Ethereum VALUE contract introduced during the YFValue migration is 0x49E833337ECe7aFE375e44F4E3e8481029218E5c.

Can YFV still be migrated to VALUE?

No current official route was verified. The project's governance set 4 November 2020 as the end of YFV support, so users should not trust a website or direct message claiming to reopen the swap.

What happened to VALUE?

Value DeFi later moved toward Firebird Finance and offered a historical VALUE-to-HOPE migration in 2021. Firebird subsequently announced that HOPE and HOPE-P would be discontinued in favor of FBA in 2022.

Can VALUE, HOPE or HOPE-P still be converted to FBA?

No working official conversion portal was verified. Firebird's 2022 HOPE/HOPE-P plan described a 180-day claim period, and its old app is no longer usable. Do not use an unofficial migration site.

Are vUSD and vETH still pegged to USD and ETH?

No current peg, rebase service or redemption mechanism was verified. Their planned use changed during Value DeFi's early development, so their names should not be read as a guarantee of value.

Was YFV or Value DeFi hacked?

The early YFV audit reported no high or critical findings in the reviewed contracts, but Value DeFi later suffered multiple incidents. Its November 2020 post-mortem reported roughly $6 million lost from an unaudited MultiStables Vault v2, and its announcement channel reported a separate major exploit in May 2021.

What should I do if funds remain in an old YFV contract?

Start with the original deposit transaction and inspect the exact contract on Etherscan without connecting to an old website. For a material balance, obtain independent technical review before attempting a direct contract withdrawal or granting any new approval.