The world of decentralized finance (DeFi) is gigantic and it is difficult to navigate because the offer is so important. This is what YIELD App is trying to solve, a startup offering tools to its users to optimize their investments.
The YIELD App tools constantly assess the most profitable and above all the safest investment strategies, all linked to the DeFi ecosystem. If a project meets its requirements, YIELD will add it to its portfolio and invest its users' funds there to earn interest. YIELD functions as a protocol aggregator and offers the possibility for its users to participate while receiving interest for their contribution.
YIELD therefore undertakes to fulfill three objectives: simplify access to DeFi, reduce the costs that its use incurs and offer its users reliable projects.
During the public deployment of the platform, only deposits of stablecoins such as USDT and USDC will be possible. The team plans to add a handful of fiat currency in the coming months.
Withdrawal of funds out of the platform is charged at $ 10 regardless of the size of the transaction. To offset these fairly significant withdrawal fees, the use of the platform does not charge any commission.
It should be noted that before using the platform, an identity verification process must be validated by the user. In addition, the minimum amount for the first deposit on YIELD is set at $ 100.
When it comes to the security of its users' funds, YIELD App collaborates with the BITGO custody service. The latter insures users up to $ 100 million in the event of a critical problem.
Another important partnership, YIELD App is working with Oracle Chainlink, which provides benchmark data on DeFi token prices supported by YIELD App.
The YIELD ecosystem comes with its own ERC-20 token, the YLD. Utility token of the platform, the YLD plays several roles. In particular, its holders can participate in the loyalty and rewards program of YIELD.
Holding YLD tokens on the application portfolio also allows you to generate 2 to 10% interest per year on them.
When stored on the YIELD App, YLD tokens also allow users to increase their interest rates on other cryptocurrencies from 12% to 20%.
These interest rates change according to the number of YLD tokens kept, according to the data in this table :
Currently the YLD token is available on the Uniswap, BITMAX and Bithumb platforms.
YIELD App was co-founded by Jan Strandberg and Tim Frost, two regulars in the cryptocurrency industry who have already cut their teeth on other high profile projects.
Responsible for the growth of YIELD, Jan Strandberg worked for over 4 years for the peer-to-peer marketplace PAXFUL as Vice President of Marketing.
YIELD CEO, Tim Frost has collaborated with many projects such as Qtum, NEO, Polymath Network and Paxful. He also worked as vice president of marketing for Wirex, Visa's partner crypto-card provider.
In addition, the startup also raised $ 4.9 million in December 2020 from numerous investors. This funding was obtained from several sources :
- $ 297,000 via the online investment platform BnkToTheFuture
- $ 3.4 million obtained from Alphabit Fund, Digital Strategies, PALCapital, Yeoman's Capital and Chronos VC
- $ 1.2 million from Octoberswap
Today, DeFi is still too complex for the average investor to invest part of his liquidity in it. Although this ecosystem is increasingly accessible, there is still a long way to go for mass adoption.
This is why YIELD intends to help investors benefit from the advantages of DeFi, while playing the role of intermediary with the protocols.
