The traditional finance market is centralized. Central authorities issue the currency that powers our economy. Centralized financial organizations, e.g., banks, control our assets. Hence, the ability to regulate the flow and supply of such currencies in the market resides with a central authority. Risk is also at the center. The centralization of authority and practice across the financial system has led to a potentially unmanageable level of complexity. Complexity at this magnitude creates risk. Unchecked risk will increase creating new vulnerabilities. This coupled with a lack of transparency compounds the problem. For example, if central banks print more currency to handle a financial crisis and it does not resolve the crisis, it may result in extreme inflation disrupting an entire economy. A potential solution is to decentralize.
Decentralized Finance (DeFi) refers to financial products and services that replicate traditional financial offerings by leveraging the trustless and transparent platform of a blockchain. DeFi is an alternative to traditional loans and mortgages, and can be accessed by anyone with a smartphone and Internet connection. Common examples of DeFi include cryptocurrencies and digital assets, smart contracts, crypto lending and borrowing, trading, insurance, derivatives, payments, stablecoins. Since governments and financial institutions have a monopoly over almost all financial products and services, the concept of DeFi was considered revolutionary, with some expecting DeFi to become the future of banking.
While the cryptocurrencies are decentralized, they are typically accessed via centralized access points such as exchanges. So how will we move towards decentralized finance? From stable coins, decentralized exchanges and wallets to payments networks, lending and insurance platforms, key infrastructural development, marketplaces, and investment engines the decentralized finance (“DeFi”) ecosystem is the way forward. DeFi utilizing technology implemented using a blockchain-based ecosystem will provide the user with full control of their assets. It will add transparency, stabilization, and efficiencies to global finance. DeFi also referred to as “open finance” is an ecosystem where blockchains, digital assets, open protocols are integrated with conventional financial structures. DeFi includes smart contracts, and distributed applications (“dApps”) built on a blockchain. Currently, the Ethereum platform is the primary choice for the DeFi. Why: because many dApps have been built using Ethereum and Solidity smart contracts so there is a large pool of talented developers. Additionally, these development projects breed composability. A DeFi platform is composable if its existing resources can be used as building blocks and integrated into higher order dApplications. Composability leads to rapid and compounding innovation. The fact that most DeFi protocols are open source, i.e., freely available, developers across the globe can collaborate to create new products leading to innovation, maturation, and a secure network. Composability creates the MetCalfe “network effect”, i.e., the value of goods or services grows as the number of users increases.
The Worlds 1st DeFi Bank “Yield Bank” seeks mass adoption, coupled with extreme longevity to become the largest Decentralized Finance yield aggregator in the space. To give insight to future offered products, this project plan to offer an immense user experience through a sophisticatedly simple to understand UI.
Yb token is a deflationary token with properties not quite seen in the market before. Its liquidity provided is irrevocable through its smart contracts. Thus creating a Liquid Level (LL) – a key level created to assist market price decomposition. This creates a new marketplace for its derivative – the LP Token. This process will stabilize market pricing while creating a higher market value, in addition to offering passive income to the Infinitely Locked Liquidity (ILL) provider. This will allow for staking on our Yield Bank platform, in conjunction as registration to an individual account propriety to the user (more on individual account propriety later).
Inside the interface users will find a built-in AMM, our own stable coin, our rewards token yCASH, back end price oracles, lock up vaults – the first ever to return yields from “Off-Chain Trading” in real world commodities like forex and other off-chain crypto assets, we will also host a 401K account never seen before to DeFi, all while saving you hundreds in gas fees with our yGasSaver features. We offer a rewards program that gives back to our users for more than a few days, we have developed an epoch and emissions schedule to keep you earning infinitely and those earned rewards high.
The Yield Bank platform aims to improve and unify many of the popular services DeFi has to offer under one platform alongside platform yield farming ecosystem.
All holders of the yB token have staking abilities on this platform. If a user provides IL Liquidity, in return their receipt – the LP token, can be directly staked to the platform for rewards of the yB token. Additionally, the yB token can be staked independently and singly unlike many other platforms. This diverse rewards system provides two types of rewards offered while staking in the yB platform. There is another key difference with our platform compared to other platforms – when staking the yB token directly to the platform, the rewards epoch for this action does not come from its original staked form but comes in the form of the yCASH token. This token is a deflationary token with similar qualities of the yB token. The yCASH token will be an open market token and of a higher supply. Its support and value will come from many pools in our platform for its liquidity support as well as its main support, its own ILL pool. The yB and yCASH tokens are deflationary – They automatically purchase themselves on the open market and automatically burn those tokens. This system will stay resistive to selling pressure and is designed to keep the value of our tokens high. Our system coding for this function leaves no doubt that sell pressure is being regulated. Once seen in action there will be no mistaking that we are actually doing as we have claimed, unlike other protocols who have been pretending to swat at a Mac Truck with a flyswatter, more on our technique to follow. Ownership of the native yB token is required as without yB, you will not be able to participate in this platform.
Professionals know where the real money and future is. Lately a market for LP tokens has been trying to make its way onto the DeFi stage in a brighter light than ever before. Yield Bank with its finance background sees the way these markets should be delivered to the world and sees how to professionally deliver them. This isn’t a video game and we aren’t trying to be the cool kids on the block here. Ybank intend to deliver true value to DeFi and in the process deliver it in an understandable nature. The LP token alone holds massive opportunity that never has truly been let known. By taking this native tokens and pairing them with other high volume tokens, this allows for a different variety of pools to be created to earn passive income off of and a broader arbitrage market for trading, all which will appreciate and depreciate based off market conditions. Further the topic of wrapping tokens provides off-chain and on-chain assets the ability to make their mark on the DeFi space, which will further increase the LP’s values and trading opportunities into the stratosphere when wrapped and applied to a pool. Ybank intend to deliver a vast variety of wrapped token assets, not just to force volume through the token, but to create and further develop a massively unprecedented market.
Inside Yield Bank’s vaults is a set of dynamic algorithms that automatically move funds to the best performing assets in real time. When and if that asset begins to fall outside a profitable threshold the algorithm will autonomously move to the next performing asset within the qualifying parameters set. These strategies are some of the finest trading strategies known with a well known trading bot developer partnership being developed to bring a fresh new take on autonomous trading. Further, Ybank are the first to deliver off chain trading, trading outside of the Ethereum blockchain and onto other cryptocurrency blockchains. Additionally, we shall shatter another world’s-first with real world commodities and Forex market trading strategies by using state of the art off-chain technology in conjunction with various price oracles, reaching farther than any DeFi protocol has ever before. This project are not named Yield Bank for nothing — we will be strongly focused on delivering SUSTAINABLE yields for the life of this platform, differentiating themselves from other DeFi platforms with ridiculous APY rates and equally ridiculous short-lived lifespans of said platforms, on top of focusing on providing stable yields — not just on news releases.
These vaults are just that, made for retirement. One of this platform key goals at iYield is longevity. Ybank plan on providing the best returns for many years to come at safe levels where any user can save for their future. THis platform have compiled data that helps us make our 401K strategies provide long-lasting yields for our customers futures, not our own.
User Interface and Experience
Ybank project team has looked at all the most popular DeFi protocols and platforms. Ybank have deemed them far too low quality, poorly designed, plain, boring and most importantly very daunting and alienating the average crypto user. One of this paltform primary tools through which plan to achieve mass adoption is vastly improved user interface and experience — Ybank plan to give the user an experience that feels very similar to what they are already used to packed into a simple UI they are all already familiar with. The majority of cryptocurrency users are still kept out of DeFi because of how risky and unfamiliar it is — Ybank aim to enable the average crypto user to come into Yield Bank and be able to access the financial freedom DeFi offers.
Individual Account Propriety
We have built a database layer on top of the Ethereum network for our Yield Bank platform. Each ETH address holding yB will be assigned an account number, this account number is unique and is pegged in our database to that unique ETH address. What the database does is simply read data from a blockchain explorer such as etherscan and give you a full breakdown of your finances in a concise, easy to read statement based on your pegged Yield Bank account number, similar to a statement generated off of a traditional bank account. These statements will show balances, gains, gas fees, transaction fees, where your assets are allocated and more.
The People’s Fund
For the first time in DeFi, we are further rewarding our stakers and holders with “The People’s Fund”. This fund is compromised of a very minuscule tax on every sell or transfer that takes place. At key intervals this fund will automatically drain itself and distribute its total holdings to all token holders. Our ecosystem creates the most balanced system in all of DeFi, thus promoting market purchases and holding while deterring selling. We will ensure that all rewards will be enough to not have to sell our token and to gain passive income throughout our entire ecosystem – not just staking.
yGasSaver & Auto-Compounding
Our developers have developed a “yGasSaver” feature which combines multiple transaction steps into a simple one-click option to save our users on gas. We allow users to enter our pools without ever having to leave our ecosystem, swap tokens, add liquidity in various pools and stake the returned LP tokens all in one click. This allows for a huge savings in gas fees by roughly 90%.
Ybank Auto-Compounding feature is where when selected, allows the user to auto reinvest their yield dividends further into their currently staked pool, to create an auto compounding interest of their rewards. Our platform will automatically take the rewards yield, swap & convert into ratios necessary to add liquidity to the existing farmed pool, then take the newly generated LP tokens and add them to the user’s existing staked pool. This process is fully at the user’s discretion with a simple checkbox and execute function button on our platform. The user will also be allowed to create key autonomous intervals for when these yields would Auto-Compound, i.e. the user wishes to Auto-Compound 75% of yield rewards after 1% of profits gained from their original investment and place the remaining 25% of those gains in their Yields balance. Our unique account propriety system allows for key data to be harvested from their accounts in order to make this process a reality. This removes the painstaking task of taking the user’s yields by claiming the rewards, then adding those rewards by leaving the platform, going back to the original pool, then converting those assets into equal parts, and adding more liquidity, then re-staking the LP token back again to the farming platform. This platform will cover this process all with a single click of a button.
For more information please visit:
Telegram Room: t.me/YieldBank
Telegram Announcement Channel: t.me/YieldBankAnnouncements
Check out our newest Medium article! A release of our platform and tokens features for your enjoyment. We're coming to stamp our names into the concrete! If your with us lets do it together! Stay tuned for our next release! https://t.co/Zfgq8TOUMa #yb #YieldBank
— YIELD BANK “Smart Money Knows” (@YieldBank) October 19, 2020