Here’s how YFDAI Finance is driving adoption of the challenge
The cryptocurrency market has evolved tremendously since 2009. Satoshi Nakamoto created Bitcoin, a peer to peer transaction network where the sender and recipient communicate directly with each other.
Fast forward to 2020 with Decentralized Finance (DeFi), the hottest trending term in the crypto space. DeFi has opened new doors for the adoption and use of cryptocurrencies. Now, users can lend, borrow, stake and trade their crypto assets without any third party involvement.
As decentralized exchanges and protocols emerge, we are witnessing a new era of crypto-based financial developments. This is how the DeFi platform, YFDAI Finance contributes to the space.
What is YFDAI Finance
YFDAI Finances is a completely authorization-free DeFi protocol that offers traditional financial services with transparency and security. Decentralization and a trustless financial ecosystem that holds everyone on the planet accountable are badly needed right now, as corruption and manipulation have plagued today’s financial systems.
YFDAI Finance is a component of the decentralized financial ecosystem where users can invest, mine, lend, borrow, or trade their crypto assets. All of these traditional banking services are one-click away for everyone.
The YFDAI ERC-20 token is audited by the Blockchain Consilium. The total supply of the YFDAI token is 21,000. The YFDAI Finance protocol allows users to wager YF-DAI tokens. There is an initial 72 hour lockout period. The YF-DAI Staking Dapp can be found at https://stake.yfdai.finance/.
The protocol is structured to allow the offering of multiple pools and staking options over a longer period. With an easy-to-use user interface coupled with step-by-step instructions, YFDAI brings a simple and enjoyable user experience.
The YFDAI Finance protocol enables agriculture where users can earn passive income by proving liquidity to farm pools. There are a variety of pools available and users can select the pool based on their preferences.
The launch of loan and borrowing services will take place soon. YFDAI has already deployed its own Decentralized Exchange (DEX), Safeswap, and Pre-Sale Launchpad where legitimate DeFi projects can perform their Token Generation Event (TGE).
New projects audited by industry leaders see their cash flow blocked at launch. Safeswap has strict SEO criteria so that users only have access to legitimate projects. The LaunchPad will encourage new and unique projects for the sole purpose of leveraging blockchain technology.
Project security is one of the main goals of the YFDAI protocol. To ensure a secure but transparent protocol, YFDAI relies on its unique “LaunchPad Management” system, where new startup project tokens are protected by a series of time-locked smart contracts.
YFDAI Finance offers instant loans. Lenders get returns by providing liquidity to pools while borrowers have instant access to multiple loans.
In the first quarter of 2021, YFDAI will launch its e-commerce platform which will include debit cards, CEX, fiat-cryptography access and exit ramps, a shopping center where you can shop online and other features.
Overall, YFDAI’s mission is to provide users with a complete, reliable and secure DeFi ecosystem. With its robust protocol, LaunchPad and SafeSwap platforms, YFDAI is determined to bring a whole new level of inclusiveness and push the entire DeFi space towards mass adoption.
All the latest information on YFDAI can be followed on the following social links:
Disclaimer: The information presented here does not constitute investment advice or an investment offer. The statements, views and opinions expressed in this article are solely those of the author / company and do not represent those of Bitcoinist. We strongly advise our DYOR readers before investing in any cryptocurrency, blockchain, or ICO project, especially those that guarantee profits. Additionally, Bitcoinist does not warrant or imply that any cryptocurrencies or published projects are legal in a specific drive’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in their country.