YLD, YIELD’s utility sign, a platform that describes itself as a gateway for “simpler” DeFi, is now available for trading in Uniswap and BitMax, a December 14 press release reveals.
The $ 4.9 Million Finance
It is the culmination of months of preparation by the YIELD team, and success following their Token Production Event (TGE).
In early December 2020, Yield raised $ 4.9 million from a hybrid financing round led by Alphabit, PALcapital, and Digital Strategies. Specifically, the project raised $ 270k, raising $ 150k within the first 24 hours after launching at the BnkToTheFuture, an investment platform.
It was overbooked three times on TrustSwap where they went on to raise $ 1.2 million. During the private sale, privileged tickets sold for $ 0.07. However, the unlocked YLD tickets each sold at $ 0.11.
Support the Product Project
DeFi’s banking platform representative said CoinDesk that money will be used to support existing working capital.
Funds will also go towards promoting YIELD, acquiring additional licenses, and further promoting their portfolio management system.
The project is audited and insured through the YLD Insurance Fund.
Excessively, the total supply will be 300 million YLD, and an initial circulating supply of 33.3 million. 26 million were distributed to investors while one million YLD tickets were sent to the company and BitMax reserves. In addition, a million ILT tickets have been set aside to keep.
Through YIELD, consumers have the opportunity to boost their APY by 20 per cent and earn up to 10 per cent on their tickets through the YLD deal.
Experience and Profit Opportunity
Currently, consumers who register and enter as early adopters have the opportunity to invest in the DeFi Alpha I YIELD fund. With this, they can also test Yield wallets using USDT, USDC, and YLD tokens.
Commenting, Adrien Geneste, the Product Communications and Marketing Lead at YIELD, said:
“The focus now is 100 per cent on the product and platform to deliver on our consumer promise: high earnings through a simple app. YIELD is a real product that has real value, and our ticket is only one side of the coin. We are looking to provide a long-term, stable and profitable solution for our consumers. “
In 2021, Yield plans to partner with exchanges for fiat integration, mobile app release, and support more crypto assets, including ETH, BTC, and DAI.
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