Hybrid DeFi Ecosystem Yearnyfi Token Sale is Live
The full spectrum DeFi ecosystem, Yearnyfi, crowdsale is live. Yearnyfi combines the best aspects of DeFi (decentralized finance) with regulatory control measures. Users can send payments globally in seconds using the network, and they can earn rewards participating in the ecosystem’s DeFi protocols. In this way, the platform seeks to provide investors with a safer and more profitable alternative.
What Problems Does Yearnyfi Attempt to Fix?
Yearnyfi wants to rectify the most significant problems currently facing the global financial system. The network’s combination of features allows it to tackle these shortcomings head-on. As such, users gain a level of transparency not provided by centralized financial services. They also enjoy the benefits of a reliable, secure, and low-risk financial network.
Benefits of Yearnyfi
There are a lot of benefits a user gains when they participate in the Yearnyfi network. The platform was built from the ground up to be simple enough that anyone can use it to earn passive income. You gain exposure to the hottest DeFi features and services such as staking, yield farming, liquidity mining, and more.
Yearnyfi’s network is packed with features to help you earn, such as staking. Staking mechanisms allow you to lock your tokens into smart contracts and earn rewards. These protocols are preferred over trading by many users because they provide rewards and require less research.
Farm Your Rewards
Yearnyfi also supports Yield Farming. Yield Farming protocols function similarly to staking pools in that you lock your crypto in smart contracts in exchange for rewards. Farming protocols differ in that they have shorter lock-up periods and no early withdrawal fees. In the Yearnyfi network, you farm YNI tokens.
There is also a variety of liquidity mining protocols. Liquidity miners earn rewards for lending their tokens to liquidity pools. These systems allow you to earn a higher APR simply by providing liquidity in Uniswap and future DEX protocols. The network currently supports a YNI/ETH liquidity mining pool. Notably, developers intend to launch more following the platform’s DEX (decentralized exchange).
According to the company’s roadmap, a complete DEX will go live in December 2021. This system will provide peer-to-peer, permissionless trading of all ERC-20 tokens. The DEX will utilize YNI as its main utility token. This strategy increases the usability of the token and should drive demand for this unique digital asset up.
The YNI token serves as the primary utility and DeFi token for the Yearnyfi network. This Ethereum-based token is compatible with all ERC-20 compliant platforms, including DEX such as Uniswap. In total, there will only be 18000 YNI issued. Of these, 30% are earmarked for liquidity pools listed on Uniswap.
Developers announced that they would lock up all unsold tokens for two years following the completion of the crowdsale. Token lockups are a new technique developers use to build investor confidence. The goal is to provide investors with a guarantee against rug pulls. As such, it’s recommended to only invest in projects that provide a multi-year token lockup option.
Yearnyfi Crowdsale Details
The Yearnyfi pre-sale has begun. Interested parties can find out more details about the project here. Early bird investors enjoy a 5% bonus for their participation. The event has a soft cap of 50 ETH and a hard cap of 100 ETH. Anyone can participate in this public token sale as the minimum investment is just 0.15 ETH. The developers have capped the maximum investment at 5 ETH.
Yearnyfi – An Alternative for DeFi Investors
Given the DeFi sector’s current momentum, Yearnyfi’s combination of features and security is sure to garner investor attention. The network has various events, such as DEX listings, that will also help drive demand in the coming weeks. For these reasons, Yearnyfi has the potential to become a very popular option for investors seeking more DeFi exposure.