YIELD.app: Revolutionizing Traditional Decentralized Finance
Yield farming has proven to be a lucrative way to receive income passively. Yearn Finance is living proof. Bringing a return on tokens being staked or held in an ecosystem so users can contribute is a revolutionary idea that is beginning to find its way into the traditional banking model. A bank essentially does the same thing with your hard earned dollars when they are deposited into a savings or checking account. Cryptocurrency just adds another much needed layer of transparency. YIELD.app is building on this concept and has created an ecosystem which looks to bring traditional banking and decentralized finance together.
YIELD (YLD) is an ERC20 token (Contract address: 0xf94b5c5651c888d928439ab6514b93944eee6f48) that acts as the utility token for the YIELD.app ecosystem. Using YLD as utility, Yield will use the DeFi and banking combination to provide a unique ecosystem which capitalizes on this opportunity. YIELD.app makes yield farming and investing quite simple:
- Users deposit assets into their account
- Users select a fund
- Users earn interest based on proven, hedged, and insured investment strategies
What makes the ecosystem so unique is users do not have to necessarily “lock" their tokens in the ecosystem to earn APY. In order to earn interest on their tokens, users must simply hold YLD in their wallet. APY rewards are fixed at 2 — 10% APY based on the amount of tokens held in your YLD wallet (please note, reward tiers are not cumulative). The total APY attainable per tier level is as follows:
- 0-4999 YLD = 2% (additional 2% bonus APY in YLD on investments)
- 5000-9999 YLD = 4% APY (additional 4% APY in YLD on investments)
- 10,000-14,999 = 6% (additional 6% APY in YLD on investments)
- 15,000-19,999 = 8% (additional 8% APY in YLD on investments)
- 20,000+ = 10% (additional 10% APY in YLD on investments)
Users will be able to earn a minimum 10% APY with an additional 2-10% APY earned in YLD based on investments. With the platform allowing you full access to your tokens at anytime, risk is reduced with the lack of staking involved. There are also no deposit fees when users enter the ecosystem, with withdrawals and deposits available 24/7.
YIELD.app further expands on bringing DeFi to the masses by making DeFi and the benefits it has to offer like yield farming, liduidity pools, and governance to the masses. With YIELD.app, their vision makes banking on a decentralized platform simple, effective, safe, accessible, and realistic. Using the various tools that have arisen with DeFi, YIELD.app makes this vision possible while creating returns that aren’t solely based on speculation.
YIELD has a maximum supply of 300,000,000 tokens with about 33.3 million in circulation as of this writing. 45,000,000 tokens will be distributed as holding rewards and 5,000,000 being distributed through the ecosystems referral program (Whenever a referred user invests at least $100 for the first time, a one time $40 payment will be sent to the referring party and referred user, paid in YLD tokens). Once the referral pool is emptied referral rewards will no longer occur.
YIELD was launched and funded through a presale. The private sale consisted of 57,142,857 YLD, with the main round consisting of 7,272,727 YLD. The public round consists of the 50,000,000 created for holding rewards/referrals. The remaining YLD tokens will be released gradually every 3 months until 2023 (75,000,000 YLD) with 110,584,416 YLD being set aside for growth and development. An infographic displaying the distribution schedule and its percentage total is listed below. The total supply will not exceed 300,000,000 YLD at any time.
One of the brightest spots when it comes to DeFi is its raw, untapped potential. YIELD.app realizes this and is setting itself up to be the first ecosystem that combines the power of cryptocurrency, investing, saving, spending, lending, and borrowing all in one place. Bringing users to store their assets in a decentralized ecosystem is one of the first steps in bringing further real world adoption to the space. If a user can stash their “cash", or crypto/digital assets in a system that pays out more than the average savings account while reducing the risk-level, they would have little reason to keep their assets illiquid in a traditional savings account.
With YLD and its accompanied prospects taking the next step, it will be interesting to see how the reward/staking system functions as its user base grows. Can YIELD truly bring the unrealized power of DeFi and the traditional banking system to form the perfect combination? That is yet to be seen. One thing that is for certain is that the team at YIELD.app has set itself up to be a true trailblazer in the daunting task of expanding cryptocurrency adoption while making it safe. Keep an eye on this one.
Pertinent Links:
- Website: https://www.yield.app/
- Twitter: https://twitter.com/yieldapp
- Medium: https://yieldapp.medium.com
- Telegram: https://t.me/yieldapp
- YouTube: https://www.youtube.com/channel/UC60b5etdiMUA4TWVe-klD0g
