Decentralized finance (DeFi) is gaining momentum for quite some time. After a long era of centralized banking and financing, with the rise of token economy and blockchain technology people have come to realize the idea that we can not only have truly decentralized means of storing our money but also generate higher returns on our money by storing it that way. However, good DeFi projects are still few and far between. It’s not easy to find a project that can serve as a reliable store of value while also generating good returns at the same time. Fortunately, one such project is now hitting the market, called YFIII Money.
About YFIII Money
There’s a good chance that you might not have heard about this DeFi project because it’s new to the market. But you must know about it because this is one of those few token projects that will give you the best of both worlds: a reliable store of value, and a way to earn some good returns on your investment!
YFIII Money basically comes with 3 features: token swap, token staking, and yield farming. Here’s what each of them means:
● Token swap:
This is basically your entry pass into the YFIII ecosystem. You can swap your ETH, USDC, DAI, or SUDT tokens to YFIII tokens to enter their world. It’s powered by a well-established and reliable Uniswap exchange, so you get a fair value for your tokens.
● Token staking:
When you hold the tokens to help verify transactions in a blockchain, that’s known as staking. YFIII rewards you for staking your tokens with interest income. Once you finish staking, your tokens get locked for 2 weeks. After two weeks your staked tokens are unlocked and you receive them along with interest.
● Yield farming:
You can also generate various kinds of rewards by locking your tokens in yield farming. Again, your tokens are locked in the process, but the rewards that you receive this way can be deposited to other liquidity pools to generate even more rewards.
Token Distribution Plan
The token distribution plan of YFIII Money is also staked in the favor of Hodlers. The total supply of YFIII tokens will be only 50k, and 70% of this will be reserved for developing the ecosystem and strategic investors. By ecosystem development, we mean airdrops, farming, staking, trading, etc. - all the activities that build a community and an ecosystem around the token. A whole of 50% has been reserved for these activities, while 20% for strategic investors.
The remaining 30% has been reserved for the founders and YFIII management to reward them for their job, and also for rewarding the new team members.
YFIII roadmap is also very aggressive. By November they plan to be listed on Coingecko and Probit cryptocurrency exchanges, while by the end of this year they plan to have their presence on CMC, OKEx, and Huobi. In early 2021 they plan to get listed on Binance as well, and that is when the best of their yield farming will be at display.
Token name :
Website : https://yfiii.money/
Disclaimer: The views, suggestions and opinions expressed here are the sole responsibility of the experts. No Forbes India journalist was involved in the writing and production of this article.
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