PRESS RELEASE. As of today, YfDFI Finance is launching not one, not two, not three, but four agricultural pools, closing a large portion of the circulating offering. The team could not have achieved this without the continued support of the community.
Starting 2021 the right way!
“Our team has worked tirelessly throughout the holiday to meet the expectations of the community. Our mantra in recent months has been: ‘Underpromise and overwhelming’. With overwhelming support from our community, we have reached every milestone on our roadmap to date, mainly within the set timeframe, and sometimes even earlier, ”said Calliba, project coordinator. He went on:
“With the recent uptick in the market, we are pleased to be in a position where we are more than ready to keep up with the incoming wave. We’ve waxed our surfboards and are ready to ride. We’ve also had a ‘New Years makeover’ – new name, new face, but the same beast inside. More importantly, the core of our protocol (our smart contracts) has been verified by Hacking and all marked as ‘Well Secured’. ”
To continue the path that YfDFI Finance has followed and to ensure the security of the platform, the team has decided to take the partnership with Hacken one step further. Every contract on the farming platform has been independently audited by Hacken to ensure the security of the funds of liquidity providers. Now that security is confirmed, it’s time to release Farming and reward the community.
Introduction of the YfDFI Farming Platform
Yield farming has taken the DeFi industry by storm in recent months. It started with all the food chips that hit the market. Now is the time to focus on the more serious and well-thought-out options. YfDFI Finance closely followed the developments in the market, took notes and put all its knowledge into the development of its own agricultural platform.
One factor that YfDFI Finance could not ignore is that many wealthy individuals have moved from one pool to another to farm with the highest yields. Projects increase after opening their pools to be left for dead when the rewards dry up. YFD is building a robust community focused system that will protect the value of the token in the long run. Simply luring outside investors with offering high returns would not be in the interest of the community and therefore not of interest to YFD.
Investors have also seen that many tokens offer high yield farming, but at the same time significantly increase circulation supply. This causes inflation and thus slowly decreases the value of the token. On the other hand, locking tokens for long periods without allowing withdrawal is something that is only beneficial to the project rather than the token holder. Access to own resources is of the utmost importance. Taking all these factors into account, YFD has developed its own farming platform that is fair to everyone. Since the rewards come from an allocated pool of funds, this structure is fully tenable for the duration of 18 months.
How does the YfDFI Farming Platform work?
Starting today, January 20, 2021, YFD will allow anyone to farm using its Farming Platform. Anyone who wants to participate must follow the steps below;
- Go to UniSwap and search for it YFD / ETH liquidity pool under “Pools”.
- Add as much liquidity as you want. 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 contribute to.
- Deposit your YFD /ETH UNI-V2 LP tokens.
- Sit back and watch the rewards roll in!
For more information, read the Medium article here: https://link.medium.com/NlTW4dHjcdb
And that’s it! YFD has four farm safes available, varying in size of reward offering and lifespan. There is an expiration date and a lockout period for each pool. You cannot withdraw your tokens or rewards within the lockout period. After that period, you can turn off your tokens at any time. However, if you complete the entire period, your rewards will be much higher!
The details of each of the four vaults are as follows:
- Safe 1: locking period 3 days. Total Monthly Reward for Vault = 30 Tokens. Duration 12 months. Expiry date 20/01/2022
- Safe 2: Locking period 30 days. Total Monthly Reward for Vault = 60 Tokens. Duration 12 months. Expiry date 20/01/2022
- Safe 3: lockout period 60 days. Total Monthly Reward for Vault = 80 Tokens. Duration 12 months. Expiry date 20/01/2022
- Safe 4: lockout period 90 days. Total Monthly Reward for Vault = 110 Tokens. Duration 18 months. Expiry date 20/07/2022
Check out the links below for more information on the farming pools:
YfDFI website: https://yfdfi.finance/
Agricultural platform: https://yfdfi.finance/farming-vault
Agricultural audit report: https://hacken.io/wp-content/uploads/2021/01/YFDFI_Vaults_Audit_Report140121.pdf
Agricultural documentation: https://docs.yfdfi.finance/pools/liquidity-farming-pool
About YfDFI Finance
YfDFI Finance aims to become the first DeFi Financial Center to be fully powered by the community. The YfDFI ecosystem is a community-based project that aims to rebuild all types of financial services offered in traditional finance, but through DeFi protocols (agriculture, governance, insurance, credit, exchange, self-banking, etc.). All solutions are developed by the community and any profits generated by the ecosystem are automatically redistributed among all contributors (holders of YFD tokens).
Press contact: Calliba, project coordinator
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