Yearnyfi.Network is a decentralized finance platform where the major protocols are yield farming, staking, and liquidity mining. It helps their users compound the value of their crypto assets by staking or adding liquidity to the liquidity pools.YearnYfi Network is built on Binance Smart Chain.
▪️Staking:
Staking is a great way to work with one’s cryptocurrency in Yearnyfi.Network. One could place it and enjoy premiums on top of the price valued holdings, instead of leaving the cryptocurrency on the cryptocurrency exchange account or wallet.
Benefits of staking with Yearnyfi.Network:
-Get a percentage of tokens to stake rewards.
-The return rate is measured by the percentage return per annum (APY). The rate of payments also varies by cryptocurrency and can vary from day to day, weekly, monthly, etc. Users can check their possible returns and rewards of payments with this calculator.
-The more wallets stack, the more secure the network is.
-Help secure the cryptocurrency network and the coins generally.
-The transaction charge is low in the staking process.
There are four ways in which people can participate: directly on the protocol, run masternodes, join master pools or stake services from third parties. Of the three, it only takes active participation to run a masternode and users can delegate someone to run for a commission as their masternode.
Simple and mixed interests are available. Users can reinvest the entire amount after the required holding period is over. They can continuously add their profit to the staking amount for compound interest and earn more. Users can also take interest from DeFi projects by delegating them to borrowers.
▪️Liquidity Mining:
Liquidity mining is a data-driven market approach based on the Community in which a token issuer or exchange can reward a miners’ pool for providing liquidity for a token.
The amount of user’s order.
The order spread.
Duration of order maintenance on order book.
▪️Upcoming Events:
Listing on PancakeSwap 17 September
Staking Live 24 September
Marketing and promotion
#BinanceSmartChain Contract address
0x91cb98f1b1954253f03f82579d683732bae6813f
▪️Yearnyfi Progress since launch:
The project’s team has been working and delivering way ahead of its roadmap which can be found on the whitepaper with links provided at the end of the article. Some of its achievements are highlighted below:
-Top partnership with other projects
-Successful launch on BSC Chain
-Tier 4 Exchange successful listing
-Coinmarketcap listing
-Product update
-Deployment on BSC chain with Polynetwork Bridge functionality
-New updated white paper
-Partnership with other protocols
Conclusion
Yearnyfi through its continued research into the decentralized finance world and dedicated team will help to provide the defi platform that will redefine the whole decentralized finance concept giving power to its community members/protocol users at all time while being open to future proposals accordingly.
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