Yield Optimization Protocol & Platform (YOP) Launches its V0 App Version
YOP is an industry-first app that enables crypto users to deposit funds and earn yields via decentralized deposit contracts. The yOptimization app offers access to yield markets, IDOs, wallet, market data, DEX, and NFTS all in one single platform.
Since its launch in Jan 2021, the project’s team has secured more than 30 strategic partnerships with key industry players. YOP currency holds over $3 million in liquidity across multiple platforms and boasts over $150 million in volume traded.
The YOP protocol introduces a new era for DeFi on the mobile by giving users control, insights, custody, and flexibility directly in one convenient app. Implementing custom feature sets in its smart contracts provides more value to users and its YOP utility token.
Most of the existing yield products and tools in the crypto market are web-based and are often restrictive with a poor user interface. Mobile apps available to users in the DeFi space are limited in capability and buggy, resulting in a poor user experience.
What’s more, investors are presented with multiple yield farming platforms and conflicting offerings. Therefore, they face the confusing and time-consuming task of figuring out which farms have the best yield or are audited and safe.
Many DeFi users also miss out on arbitrage opportunities due to slow speed in comparing data and executing trades across multiple web-based apps.
The VO YOP App Is Live on AppStore!
YOP officially launched its VO mobile app on May 18th at 4 pm UTC. The new app carries five core product areas that make it easier for developers to layer features into each tab. It will run as a BETA until it is replaced with the V1 launch.
V0 currently runs on Apple iOS but will soon introduce Android, web, and tablet support. The app primarily supports ETH-based services, but subsequent versions will integrate cross-chain access to several networks, including Polkadot, Solana, Binance Smart Chain, and NEO. The YOP team also plans to add support for layer-2 networks like Polygon.
Future updates to the app will provide access to additional yield contracts, IDOs, multi-asset staking, NFT exchange, fiat on-ramp, and ETH 2.0 PoS support.
V0 YOP App Hosts Five Primary Functions
VO will host five core functions intended to give users the first taster of the YOP dev team building in V1. Since V0 is a BETA version, users are advised to exercise caution while engaging with the app and back up the private key in a hardware wallet before using it.
Here is a closer look at the core tabs available on the new YOP mobile app.
This tab allows users to gain instant market access and view the latest token prices to take advantage of the best market prices and most liquidity. You can also add specific tokens to your watch list and create new markets in an instance. The tab also allows users to view the simple line chart and TradingView chart (more tools to be included soon).
By tapping on the Market Data tab, investors will get access to the best data available for better performance and benefit from the Smart Market Analysis product when it is released. They can also access custom news feeds and get the latest market insights, DeFi stats, and live feeds.
V0 introduces an Ethereum-based ERC20 token wallet that allows crypto enthusiasts to hold and monitor their token holdings. The YOP native wallet also enables users to send/receive crypto via the QR code or copy addresses to the clipboard.
The YOP team has noticed that DeFi users often have to pay high fees in multiple wasted transactions. They have integrated “Custom GAS” settings that allow users to set the price they wish to pay for transactions to solve this issue.
Remember to back up your non-custodial wallets, as the YOP team cannot help with loss of funds and wallet recovery. That said, plans are underway to add support for hardware wallets in subsequent versions, facilitating users to manage larger crypto portfolios on the go.
This section holds the central dashboard that functions as the center of all your YOP App action. The dashboard allows users to set up a simple profile, view the latest key prices, and keep tabs on their wallet balance.
YOP will integrate new features to the dashboard in the next updates, including a chatbox, full portfolio management, and custom parameters.
This tab allows you to swap between a wide variety of ERC20 tokens within the mobile app. YOP plans to add even more tokens and add support for multiple chains within the same tab.
Use this tab to access your wallet and swap tokens without having to sign a separate transaction. Should a swap fail to go through, try adjusting the fee higher via the Custom Gas setting on the wallet tab.
The SWAP section also hosts the Launchpad Aggregator tab that gives users access to a wide host of decentralized launch protocols. Here, customers can view the latest IDOs on offer and participate directly from the platform. Token holders can access YOP Exclusive Pools, enabling them to invest early in various incubated projects and access portions of some aggregated pools.
Lastly, VO carries the Yield tab that integrates the YOP Vault to give users simplified access to yield markets without using multiple apps. The new functionality builds on the previous feature that connected the Yearn vaults, enabling users to deposit directly into the contracts via the YOP App.
The Yield tab gives investors a new and innovative way to interact with DeFi that promises to be a game-changer in the space. Please remember always to back up your private keys so you can directly withdraw from a farming contract in case of any problems.
The V0 YOP App is now available on the Apple AppStore. Click here to download.