2020-12-10 18:30 |
PRESS RELEASE. YfDFI Finance, the innovative community-centered DeFi financial center, joined forces with the established project Ferrum Network to revolutionize the way staking is currently seen. The partnership’s initial phase will focus on staking, but the ambitions reach further, including liquidity farming and many more aspects of the DeFi spectrum.
Throughout the last couple of months, YfDFI Finance (https://yfdfi.finance) emerged from an idea to a self-governed community powered by their YFD token. The project aims to become the first DeFi financial center fully powered by its community. The term financial center is chosen because of the wide range of products the team wishes to provide, ranging from staking, farming, swapping, trading all the way to self-banking and insurance products.
The industry has been introduced to hundreds of Yearn Finance forks over the past months, one more diverse than the other. Instead of merely devoting time and resources to creating yet another copy, the YfDFI Finance’s early-contributors chose to start from scratch and set a completely new standard for community-focused projects. The ultimate goal is to provide services known in centralized finance throughout DeFi products while redistributing the profits to the YFD token holders. The course of the project is wholly decided upon by the community through a governance protocol. Community members earn voting rights by acquiring and staking tokens. On the staking end, YfDFI’s community called for the expertise of Ferrum Network to extend its staking possibilities.
Staking is often known as a service provided by a project among their community members without any external assistance. Ferrum Network disrupted the industry standard by creating their own SaaS (Staking-as-a-Service) protocol allowing low-cap projects to offer staking opportunities for their token holders. Over the last year, Ferrum has helped more than 40 projects to provide staking services allowing investors to earn an annual yield of hundreds of percentages. Throughout exploring different staking mechanisms in collaboration with a diverse range of projects, Ferrum found new ways of providing value to projects such as YfDFI Finance.
Momentarily, YfDFI Finance provides an appealing staking APY of no less than 375% through their own-created staking platform. The staking pools consist of 30% of the total supply of just 20,000 YFD tokens creating a scarce supply increasing demand. Significantly since the partnership with Ferrum Network (https://ferrum.network/) will extend the current YFD staking activities through the Ferrum Platforms. This extension means leveraging the Ferrum community with more than 25,000 active community members, allowing more than 6000 UniFyre wallet users to directly stake within the application and creating customized staking possibilities. The latter will include VIP staking opportunities for top-contributions within the community.
The first phase of the partnership between YfDFI and Ferrum Network will commence shortly. A special staking event that focuses on giving back to the dedicated community will occur in a matter of weeks. The entire staking chapter is just the tip of the iceberg of what the future will have to offer. The subsequent aspect of the collaboration between the two projects will evolve around liquidity farming. This innovative piece of technology will combine the providing of liquidity on Uniswap with the widespread yield farming. The community-developed liquidity farming pool will allow liquidity providers in the WETH/YFD pool to earn up to 10% weekly interest. Both staking and liquidity farming lasts until all YFD token reserved for both practices will be distributed.
With a daily expanding community, a suddenly increasing token price, and a talented team, YfDFI Finance seems to approach a bright-looking future. Whereas the team remains anonymous, all tools to prevent an optional exit-scam (rug pull) exist, such as locking team tokens, staking tokens, farming tokens, and liquidity tokens on Unicrypt for at least six months. More importantly, the project has been audited by Nasdax Security Team. Throughout the audit, no major flaws were found, and the conclusion remained an anonymous message: “safe, secure and completely fair.” With all this in place, the community is bracing themselves for the upcoming months with an expected increase on both price and community size.
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). Visit: yfdfi.finance
Press contact: Kevin Lance, Business Manager
Email: [email protected]
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.
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