PRESS RELEASE. As of today, YfDFI Finance is launching not one, not two, not three but four farming pools, locking up a huge chunk of its circulating supply. The team could not have achieved this without the continuous support from the community.
Starting off 2021 the right way!
“Our team has been working tirelessly throughout the holidays to live up to the community’s expectations. Internally, our mantra the past couple of months has been: ‘Underpromise and overdeliver’. With overwhelming support from our community, we have reached every single milestone on our roadmap so far, mainly within the established time-frame, and sometimes even sooner” said Calliba, Project Coordinator. He continued:
“With the recent market surge we are excited to be in a position where we are more than ready to ride the incoming wave. We’ve waxed up our surf boards and are ready to ride. We’ve also had a ‘New Year Makeover’ – new name, new face, but the same beast within. More importantly, the core of our protocol (our smart contracts) have been audited by Hacken and all marked ‘Well Secured’.”
In order to continue the path YfDFI Finance has been following, and ensuring the safety of the platform, the team has decided to push the collaboration with Hacken one step further. Every single contract in the farming platform has been independently audited by Hacken to ensure the safety of liquidity providers’ funds. With security confirmed, the time to release Farming and reward the community has arrived.
Introducing the YfDFI Farming Platform
Yield farming has taken the DeFi industry by storm over the last few months. It began with all the food tokens that hit the market. Now the time has come to focus on the more serious and well thought-out options. YfDFI Finance watched the developments in the market closely, taken notes, and put all the knowledge into the development of its own farming platform.
One factor that YfDFI Finance could not ignore is that many wealthy individuals have been moving from one pool to another in order to farm with the highest yields. Projects increase after opening up their pools to be left for dead when the rewards dry up. YFD is building a robust system focused around the community that will protect the value of the token long-term. Simply luring in outside investors with the offer of high yields would not be in the best interests of the community, and therefore is of no interest to YFD either.
Investors have also seen that many tokens offer high yield farming but simultaneously increase the circulation supply substantially. This causes inflation, and thus slowly decreases the value of the token. On the other hand, locking up tokens for long periods without allowing withdrawal is something only beneficial to the project, and not so much to the token holder. Access to one’s funds is of paramount importance. Taking all of these factors into consideration, YFD has developed its own farming platform which is fair to all. As rewards are coming from an allocated pool of funds, this structure is entirely sustainable for the 18 month duration.
How does the YfDFI Farming Platform work?
Starting today, the 20th of January 2021, YFD is allowing anyone to farm using its Farming Platform. Anyone that wishes to participate has to follow the next steps;
- Head over to UniSwap and locate the YFD/ETH liquidity pool under “Pools”.
- Add as much liquidity as you like. This works in a 50/50 ratio between YFD and ETH.
- Head back to the YfDFI Farming Platform and choose the vault that you want to contribute to.
- Deposit your YFD/ETH UNI-V2 LP tokens.
- Sit back and watch the rewards roll in!
For more info you can check out the Medium article here: https://link.medium.com/NlTW4dHjcdb
And that is all there is to it! YFD has four farming vaults available, varying in size of reward supply and longevity. There is an expiry date for each pool and a locking period. Within the locking period, you will be unable to withdraw your tokens or any rewards. After that period you can unstake your tokens at any given moment. However, when you complete the entire period, your rewards will be much higher!
The details of each of the four vaults are as follows:
- Vault 1: Locking period 3 days. Total monthly reward for vault = 30 tokens. Duration 12 months. Expiry 20/01/2022
- Vault 2: Locking period 30 days. Total monthly reward for vault = 60 tokens. Duration 12 months. Expiry 20/01/2022
- Vault 3: Locking period 60 days. Total month reward for vault = 80 tokens. Duration 12 months. Expiry 20/01/2022
- Vault 4: Locking period 90 days. Total monthly reward for vault = 110 tokens. Duration 18 months. Expiry date 20/07/2022
Want to learn more?
For more information regarding the farming pools, please check out the links below:
YfDFI website: https://yfdfi.finance/
Farming platform: https://yfdfi.finance/farming-vault
Farming Audit Report: https://hacken.io/wp-content/uploads/2021/01/YFDFI_Vaults_Audit_Report140121.pdf
Farming documentation: https://docs.yfdfi.finance/pools/liquidity-farming-pool
About YfDFI Finance
YfDFI Finance aims to become the first DeFi Financial Center fully powered by the community. The YfDFI ecosystem is a community-centered project aiming to rebuild all classes of financial services provided in traditional finance but through DeFi protocols (farming, governance, insurance, credit, exchange, self-banking etc.). All solutions will be community-developed and all profits generated by the ecosystem will be automatically redistributed to all contributors (YFD token holders).
Press contact: Calliba, Project Coordinator
Email: community@yfdfi.finance
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Image Credits: Shutterstock, Pixabay, Wiki Commons