Yield farming is a way to make more crypto with your crypto. It involves you lending your funds to others through the magic of computer programs called smart contracts. In return for your service, you earn fees in the form of crypto. Simple enough, huh? Well, not so fast.
Yield farmers will use very complicated strategies. They move their cryptos around all the time between different lending marketplaces to maximize their returns. They’ll also be very secretive about the best yield farming strategies. Why? The more people know about a strategy, the less effective it may become.
Yield farming, also referred to as liquidity mining, is a way to generate rewards with cryptocurrency holdings. In simple terms, it means locking up cryptocurrencies and getting rewards.
In some sense, yield farming can be paralleled with staking. However, there’s a lot of complexity going on in the background. In many cases, it works with users called liquidity providers (LP) that add funds to liquidity pools.
What is a liquidity pool? It’s basically a smart contract that contains funds. In return for providing liquidity to the pool, LPs get a reward. That reward may come from fees generated by the underlying DeFi platform, or some other source.
Some liquidity pools pay their rewards in multiple tokens. Those reward tokens then may be deposited to other liquidity pools to earn rewards there, and so on. You can already see how incredibly complex strategies can emerge quite quickly. But the basic idea is that a liquidity provider deposits funds into a liquidity pool and earns rewards in return.
Yield farming is typically done using ERC-20 tokens on Ethereum, and the rewards are usually also a type of ERC-20 token. This, however, may change in the future. Why? For now, much of this activity is happening in the Ethereum ecosystem.
However, cross-chain bridges and other similar advancements may allow DeFi applications to become blockchain-agnostic in the future. This means that they could run on other blockchains that also support smart contract capabilities.
Yield farmers will typically move their funds around quite a lot between different protocols in search of high yields. As a result, DeFi platforms may also provide other economic incentives to attract more capital to their platform. Just like on centralized exchanges, liquidity tends to attract more liquidity.
$YIF is a governance token of Yearn Insurance Farming protocol. This project will bring a piece of mind for everyone for crypto community members who wishes to support new blockchain projects as well as developers will have wider ranger supporters by offering them a trust. Governance token holders will have right to vote for all the changes or decision taking part in the YIF ecosystem.
First ever yield farming protocol offering an insured swap with the pool of limited supply tokens. While there are several other swap protocols where pool creators offer a swap for a number for tokens to ethereum, most of them ends up with the “rug pull”We aim to bring Trust, Legitimacy and Peace of Mind in the Defi ecosystem.
Various pools will be available to gain yields awards in $YIF tokens. The protocol will deploy leverage for stable coins and arbitrage to provide highest possible yields for its farmers.
The protocol will deploy leverage for stable coins and arbitrage to provide highest possible yields for its farmers. As the $YIF tokens has a limited supply and no additional tokens will be minted, a portion of the earnings will be used to buy the $YIF tokens from the market and distribute among the farmers which will increase the value of the $YIF tokens. The rest of the earnings will be directed to the insurance pool where all the holdings of the farmers will be insured.
In addition to participate in the farming $YIF token will be required in a ratio of the farmed pool. Eventually, this will contribute to the price increase of $YIF tokens and bring an increasing value for its holders.
Besides, the insured swap YIF will offer an insurance cover for other smart contracts and anyone will be able to purchase a cover for the period and amount they wish. Anyone can contribute to the pool to get a reward.
YIF holders will have the opportunity to stake their $YIF tokens in the vaults and get rewards as the YIF tokens. The staked token will be used to farm other protocols for yield.A portion of earned profit will be used to purchase the $YIF tokens from the market and distribute among the farmers, and also other portion will be directed to the insurance pool where all the holding in the YIF Vault will be covered with.
Total Supply: 190000
Initial Circulating Supply: 100000
Pre-sale amount: 90000
Pre-sale price: 1 ETH/90 YIF
Hard cap: 1000 ETH
Uniswap Liquidity: 10000 YIF
Initial Uniswap Listing Price: 1 ETH/33.3 YIF
Pre-sale will be live on bounce.finance.
Eth raised in pre-sale will be used to provide Uniswap liquidity, and to further development and expansion of the YIF protocol. There will no token allocation for the marketing or team. Only, amount raised in the pre-sale will be used for that purposes. All unsold tokens will be burned. Remaining $YIF tokens will be distributed in the farming pools as the yield awards gradually.
YIF protocol will bring a piece of mind for everyone by offering insurance coverage fro Swap, Stake and Farm.
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