YfTether — Towards the utopian future of DeFi
YFTether is the brand new token that is created to help advance the rebuilding of the banking system in an open and transparent manner. YFTether is distinct and succinct as it expands the utilisation of blockchain from elementary value transfer to further complex financial use cases. According to Alex Pack, the managing partner at a $100M crypto fund, Dragonfly Capital, “You only get that shot every 50 years.” Let’s look at a couple of examples to understand what he means and why now is the time to invest in YFTE.
“Freedom is nothing but a chance to be better.” — Albert Camus
Silicon Valley veterans will tell you that the revolution of personal computers began in January 1975 when the magazine Popular Electronics ran a cover story on the extraordinary Altair 8800 which cost $397. The opportunists like Bill Gates, Paul Allen, Steve Ballmer and Steve Jobs understood the demand in the market that the feature had created and took the shot at starting their respective companies — Microsoft (1975) and Apple (1976). The rest is history.
If the 1970s saw the rise of personal computers, the 1990s witnessed the dawn of the internet. Successful visionaries such as Jeff Bezos and Elon Musk recognised the potential of the dot-com boom and created companies like Amazon (1994), Zip2 (1995) and PayPal (1998) to advance its future.
“If a window of opportunity appears, don’t pull down the shade.” — Tom Peters
Launched in 2009 by Satoshi Nakamoto, Bitcoin became the first blockchain-based cryptocurrency and it’s still the most successful one. While Ethereum and Bitcoin remain the primary DeFi applications, they are both run by a huge network of computers rather than any central authority. These are used as a store-of-value investment such as gold, by many investors as it protects against inflation. Ethereum has also been supporting startups to crowdfund their operations.
A partner at Bain Capital Ventures, Salil Deshpande, who is responsible for leading the company’s crypto investments thinks that the reason why people first became interested in DeFi is that “they have a libertarian streak”. People get the freedom to create censorship-resistant products on DeFi platforms such as YFTE which for some developers can be a fascinating capability when it comes to experimenting with the technology.
“Incredible change happens in your life when you decide to take control of what you do have power over instead of craving control over what you don’t.” ― Steve Maraboli
The most thunderous effects of DeFi applications such as YFTE will be seen over the long term as this system has the power to make our financial systems less fragile and more transparent and resilient. DeFi allows various entities to maintain a copy of transaction history, making it accessible to several members instead of allowing control to a single or central source. This development is crucial because, in centralised systems, human gatekeepers have the power to limit the sophistication and speed of transactions while providing users with less control over their own money.
DeFi — Regaining Control Over Your Finances
The market of decentralized finance has proven its use case by producing staggering growth over the last few months. These services have the potential to soon become the next crucial application for blockchain users looking into decentralization of traditional banking functions such as saving, borrowing and lending.
Understanding YFTether Finance
YFTE has numerous benefits which make it an interesting DeFi protocol. Let’s look into some of those:
Our protocol enables users to stake YFTE to collect a bountiful return on investment (ROI) of either 0.2% daily or 6 % monthly or 72% annually on their total stake amount. It might seem like other yield farming pools offer a slightly more APR return, nonetheless, these rewards are introductory and are generally declined over time. This happens due to a surge in token circulation from minting (resulting in a degradation of existing tokens).
Taking this into consideration, plenty of such platforms usually yield only 40–45% annually (net). Using YFTE, users will have access to a fixed return rate on their stake of YFTE tokens at the rate of 0.2% daily (6% monthly or 72% annually). These guaranteed returns are sustained and delivered in regards to the YFTE tokenomics.
Maximum there can be 21,000 YFTE tokens as there’s no provision in the contract which allows to mint more tokens. Please note that 7,200 of total 21,000 tokens will be stored in a contract including staking rewards (this is calculated to cover the operational cost of the first 3 years).
These funds are meant to be restored over time from the fees that are produced by the platform. When new features are added, a fee is generated. This is what makes the rewards sustainable over a period of time.
YFTE is a simple and elegant protocol which needs only a 72-hour lock-up which initiates at the time of staking. The user is allowed to take out tokens any time once the 72-hour lock-up period has passed (along with an interest). While the interest can be withdrawn without any additional fee, tokens are staked within the platform so that users are encouraged to continue staking their tokens.
Staked tokens are also meant to lessen the accessible supply of circulating tokens. This, in turn, surges the price of the token in regards to the supply and demand metrics.
Let’s see how the staking mechanism works:
- Stake entry fee: 1.5% (used for YFTE buyback and burn)
- Un-stake fee: 0.5% (used for YFTE buyback and burn)
- Minimum stake lock: 72 hours
The structure of YFTE protocol enables various staking options and pools to be offered over a long duration. The user experience is intuitive and pleasant as there’s a straightforward user interface (presented with detailed instructions).
YFTE veridical protocol
As one of the few trusted DeFi protocols, YFTE deposits tokens in 100% audited and time-locked smart contracts. This enables the elimination of all possible exploitation of the tokens. The tokens of the developers are also locked for a year which ensures the investor that no exit scam can take place.
Inbuilt governance structure
YFTE platform encourages a thriving community and prosperous ecosystem for all its users. In order to achieve its goals, a distinctive on-chain voting mechanism will be introduced into the platform to enable flexible voting parameters. This model is novel and permits for cost-free voting.
The main priority of YFTE protocol is project security. We will be getting a few audits done in the coming weeks.
Secure rewards by farming
Farming is a method to produce rewards with cryptocurrency holdings. This is one of the paramount attributes which is responsible for accelerating the roar of the DeFi ecosystem. Farming via YFTE enables the users to secure rewards by supplying liquidity to various pools which are soon to be released.
Pool 1- YFTE/USDT
Pool 2- YFTE/ETH
Pool 3–5 will be reserved for future partnerships with other projects.
Lend to avail benefits
YFTE supports the community of borrowers and depositors. While depositors generate a passive income by offering liquidity, the borrowers access collateralized loans. The first step is to simply deposit the desired amount or asset, and start earning some passive income depending on the requirements of the borrowing market.
Another advantage of this transaction is that the deposited assets also double down in collateral size while borrowing. Furthermore, the interest that is generated via the deposited amount will help nullify the assembled interest from borrowing. Funds which are circulating via the lending protocol are secured by completely audited smart contracts to ensure 100% security.
Lending using the YFTE platform presents with an abundance of benefits. Users receive favourable access to loans, fixed interest rates and partial liquidations (in case there’s a disruption).
Token buyback and burn
The staking fee of 1.5% and the un-staking fee of 0.5% are used to buyback and burn YFTE tokens.
Minimum market cap
DeFi is one of the key features in establishing a decentralized future. It is important for any DeFi follower to find legitimate projects in order to maximise their profit potential at an early stage. Considering the level of security and proficiency of easy accessibility, YFTE Finance is set to become one of the most useful platform in the DeFi space.
Low token supply
YFTE will become one of the most commercial coins to invest in and hold. Initially, there’s a circulating supply of mere 6,700 tokens( 3,300 tokens will be added with 200 Ethereum as Initial Uniswap Liquidity) . This amount varies depending on the number of deposited or removed tokens in regards to the staking contract. The supply of tokens continues to reduce with time as YFTE fosters a deflationary design.
- Total tokens supply: 21,000
- Supply in circulation: 6,700
- Uniswap Liquidity: 3,300
- Staking and DAO: 7,200 Locked under smart contract.
- Farming Rewards: 1600
- Marketing budget: 1000
- Team : 1000 Locked with Team Finance for 6 Months
- Community Rewards: 200
“Explore, Experience, Then Push Beyond.” ― Aaron Lauritsen
Regardless of whether the user is new to the DeFi ecosystem or a professional member, there are plenty of opportunities for everyone to be benefitted from. YFTE takes several deflationary measures and allows for a low token supply. It presents its users with tremendous staking rewards and it’s on the path to becoming a dominant project in the industry. Security is of the highest priority to the YFTE model. The users benefits from features including lending, staking, borrowing, farming and lots more. Investing in the YFTE ecosystem is one of the best decision that you can make in 2021.