YIELD is a bank-licensed fintech company (from Mwali, a small island) that aims to change the DeFi industry forever. The project has already raised significant investments, bringing the total to almost $5 million. Out of this, almost $300k have been raised through the website BnkToTheFuture, while the remaining $4.6 million have come from a presale of TrustSwap ($1.2 million) and important names such as: Alphabit Fund, Digital Strategies, PALCapital, Yeoman’s Capital and Chronos VC ($3.4 million).
An impressive sum to continue building what they have already started some time ago: an app and a web service that allows everyone to benefit from the advantages of DeFi, earning (fairly good) interest on their deposits. On YIELD’s website it is stated that the APY (Annual Percentage Yield) varies from a minimum of 12% to a maximum of 20%. Pretty good numbers for a fully regulated product. Lately we’ve become accustomed to seeing much higher APYs, but most of these projects have not managed to survive because of these exaggerated figures.
How does YIELD.App work
The operation is very intuitive as it only takes a few clicks to start earning money. The first step is to sign up on the website (which is still under construction at the moment, but if you sign up you’ll have access to farming more quickly); then you just have to deposit your USDT, USDC, YLD or other tokens and finally you simply have to wait for the interest to accrue. It’s a very simple process and also suitable for those who are not very familiar with DeFi.
Deposits are not locked, so they can be withdrawn at any time. All that is required to monitor the accrued interest is a computer or a smartphone, as the Yield App will be available for all platforms. The app works 24 hours a day and there are no fees on deposits.
It seems that all money is insured by the YLD insurance Fund, a proprietary fund created specifically to keep customers’ funds safe. The great thing is that the team is not anonymous, so you can read more about the creators and managers of the app by going to the team page (where there are also links to their LinkedIn profiles). The same holds true for the advisors.
The YLD token
The YIELD governance token is called YLD and has been available on BitMax and Uniswap for a few days now. During the token generation event (TGE), the team created 300,000,000 YLD tokens and this number represents the MAX supply. 64M of these tokens were used for private fundraising, 50M are destined for token holders and the remaining 185M will be used for the future growth of the project and the team behind Yield.
A more team-oriented distribution, as is often the case with long-term projects. It is worth noting, however, that many of the tokens from the private presale and for the team are subject to quite long vesting periods. A great sign that the team really cares about this project.
According to CoinGecko, the YLD token has reached a low of $0.09 and a high of $0.23. At the moment, the token is worth around $0.12.
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