PRESS RELEASE. To this day, YfDFI Finance launches not one, not two, not three but four farming pits, locking up a huge chunk of its circulating supply. The team could not have achieved this without the continued support of the community.
Starting from 2021 the right way!
“Our team has been working tirelessly throughout the holidays to meet the expectations of the community. Internally, our mantra over the last few months has been: ‘Underpin and over-drive’. With overwhelming support from our community, we have reached every milestone on our roadmap so far, mostly within the established timescale, and sometimes even faster ”said Calliba, Project Co-ordinator. He continued:
“With the recent market surge we are excited to be in a position where we are more than happy to ride the incoming wave. We’ve waxed our surfboards and are ready to ride. We’ve also got a ‘New Year Makeover’ – a new name, a new face, but the same beast inside. More importantly, the core of our protocol (our smart contracts) has been audited by Hacken and has all been marked ‘Good Sure’. ”
In order to continue the path that YfDFI Finance has been pursuing, and ensure platform security, the team has decided to push the collaboration with Hacken one step further. Each individual contract in the farming platform has been independently audited by Hacken to ensure the security of liquidity provider funds. With security confirmed, the time to release Farming and reward the community has arrived.
Introducing the YfDFI Farming Platform
Product farming has taken the DeFi industry by storm over the past few months. It started with all the food tickets and the market hit. Now is the time to focus on the more serious and carefully considered options. YfDFI Finance watched the market developments closely, took notes, and provided all the information in 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 escalate after opening their pools to leave them dead when the awards dry up. YFD is building a robust community-focused system that will protect the value of the ticket in the long run. Attracting only inward investors with the high product offer would not be in the best interest of the community, and therefore not of any interest to YFD.
Investors have also found that many tokens offer high-yield farming while at the same time significantly increasing circulation supply. This causes inflation, thus slowly lowering the ticket value. On the other hand, locking tickets for long periods without allowing withdrawal is something that benefits the project only, and not so much for the ticket holder. Access to someone’s funds is of the utmost importance. Taking all these factors into account, YFD has developed its own farming platform that is fair to all. As awards come from a pool of allocated funds, this structure is fully sustainable for the 18 month period.
How does YfDFI Farming Platform work?
Starting today, the 20th of January 2021, YFD allows anyone to farm using its Farming Platform. Anyone wishing to participate must follow the next steps;
- Head over to UniSwap and find 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.
- Go back to the YfDFI Farming Platform and choose the vault you want to donate to.
- Deposit your YFD / ETH UNI-V2 LP tickets.
- Sit back and watch the awards roll in!
For more information you can check out the Medium article here: https://link.medium.com/NlTW4dHjcdb
And that’s all there is to it! YFD has four farming vaults available, ranging in size of reward supply and longevity. All pools and lock-outs have an expiration date. Within the lock-up period, you will not be able to withdraw your tickets or any prizes. After that time you can unblock your tickets at any given time. However, when you complete the entire period, your rewards will be much higher!
Details of each of the four vaults are as follows:
- Cell 1: 3 day lock-in period. Total monthly reward for vault = 30 tickets. Duration 12 months. Expires 20/01/2022
- Slaughterhouse 2: 30 day lock-in period. Total monthly reward for vault = 60 tickets. Duration 12 months. Expires 20/01/2022
- Cell 3: 60 day lock-in period. Total prize per month for vault = 80 tickets. Duration 12 months. Expires 20/01/2022
- Cell 4: 90 day lock-in period. Total monthly reward for vault = 110 tickets. Duration 18 months. Expiry date 20/07/2022
Want to learn more?
For more information on the farming ponds, check out the links below:
YfDFI Website: https://yfdfi.finance/
Farming platform: https://yfdfi.finance/farming-vault
Farming Inspection 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 Funding
YfDFI Finance aims to become the first DeFi Financial Center to be fully community-powered. The YfDFI ecosystem is a community project that aims 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 developed by the community and all profits generated by the ecosystem will be redistributed automatically to all contributors (YFD token holders).
Press contact: Calliba, Project Co-ordinator
Email: [email protected]
This is a press release. Readers should do their own due diligence before taking any action 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 or reliance on any content, goods or services mentioned in the statement to ‘ press.
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