🔻🔴🔺🔻 YIELD BANK BETTERS THE DEFI INDUSTRY 🔻🔴🔺🔻

haji-santoso (52)in #yielbank • 4 years ago

Understanding What is DeFi

What is DeFi? Decentralized Finance or DeFi is a system that aims to provide financial services that are open, unlicensed, transparent and available to everyone without a centralized authority.

This can be done by DeFi because the smart contract technology behind it can allow developers to build functionality that is much more sophisticated than just sending or receiving digital currency.

DeFi can be a global alternative to any financial service in use today. For example, savings, loans, trade, insurance and others can be accessed by anyone in the world by only using a smartphone and an internet connection.

Even though it can be accessed openly, users still have full control over their assets by using decentralized applications or Dapps. This application allows users to create stablecoins, lend money and earn interest on their crypto assets.

Users can also take loans, exchange assets, buy long-term or short-term assets to implement sophisticated and automatic investment strategies.

Main Benefits of DeFi

Investment Infographic on Main Benefits of DeFi

There is no intermediary

If a traditional bank has an intermediary to make transactions, DeFi is the opposite. The blockchain technology used by DeFi doesn't need that, so transactions can be done quickly. Users can also take control of the assets or funds they have and monitor them if there are changes.

The service will not be closed

In a bank, if there is a crisis or problem, the service may be closed and customers cannot access the data or funds they have. But at DeFi this is impossible to happen, because financial services in decentralized finance are installed on the blockchain.

So that the recorded and scattered data consists of thousands of nodes which makes potential closure of services almost impossible. User data remains safe because it has multiple copies spread across the network.

Ease of access

On DeFi, users can access it anywhere as long as they have an internet connection and a smartphone. Decentralized finance also allows people who do not have financial services in low-income areas to gain access to financial services provided by DeFi.

Reducing costs

DeFi can reduce transaction fees because it does not use intermediaries, so users do not have to pay additional fees for transactions

#defi #yieldbank #yb

Introducing Yield bank

Yieldbank, the chief Defi bank set up by a gathering of authorities with enormous contributions with cash, exhibiting, and token comic, with the sole purpose of bringing the change of blockchain advancement to the world budgetary structure through the decentralized record.

Features Offered by Yieldbank that Conventional Money Framework Doesn't Offer

Market Repurchase :

Yieldbank has adequately made a harmonious economy on its establishment with the Independent Market Repurchase. This was made as a model to diminish selling pressure on the yB token and addition buy strain to ensure extraordinary market assessment of yB token using Business sector Directional List. Through this, a repurchase framework is made whereby a rate is charged on all the exchange, arrangement, or moves volume from addresses that are not whitelisted that are selling the asset. The total charges acquired is then used to execute a repurchase through an electronic structure. Yieldbank is a helped stage, so in a condition where the market is dumping, customers are supported so they can keep holding.

Destinies Exchanging :

One of the hot features of the lofty united exchanges that are continually driving customers to the stages is futures Exchanging. Yieldbank will be one of the chief Decentralized record exercises to enable future trading on its establishment. Customers holding yB tokens and any stablecoin assets can participate in future understanding trading and give protection liquidity. The wearisome future concurrence on the yield bank stage will engage vendors to take long or short circumstances with or without impact. Future arrangement trading on the Yield bank stage will be a difference in the Uniswap pool model.

Declarations of Resource:

Straightforwardness is key in the Yield bank climate. Yieldbank stage customers will move toward full nuances of all of their trades on the stage comparatively as you would get clarification of record from a standard bank. This will allow customers to screen their exercises and trades, for instance, their tasks, costs, rewards, and advantage yields, on the stage.

Prizes: Yield bank stage is made to continue compensating customers anyway long participation with a contract continues. A customer of the Yield bank stage can keep getting grants for eternity. A degree of the trade from the arrangements of yB token and arrangements or securing of yCASH is separate to be added to repay pool, and appropriated to holders and checking individuals.

How exactly does the yieldbank substrate intend to achieve this?

HOW YIELD BANK BETTERS THE DEFI INDUSTRY

Well let's introduce a few features that make these claims possible on the platform.

STAKING

This is an approach towards contributing to the development of a crypto ecosystem by actively partaking in transaction validation on a proof of stake blockchain. Here yieldbank proffers an opportunity for users to earn rewards by staking their tokens over a period of time. The staking rewards varies depending on the level of contribution of stakers.

SIMPLE USER INTERFACE

Unlike most platforms, the yield bank structure possess a very user friendly and simplified interface such that new participants can conveniently navigate the platform without getting lost or confused.

YGASSAVER

This is an interesting component of the Yield bank network, unlike other platforms where there is a fee charged for every single transaction, the gassaver/auto compounding feature enables users to save on gas fee by merging a good number of transaction step into a one click option.

ACCOUNT PROPRIETY

For the good of users within the platform, every ETH address is assigned a unique account number as long as it is holding a good number of YB tokens. This account number contains vital information which the user would need to function effectively.

The yield bank also has the arbitrage feature,vaults, people's fund and so much more to give users a better DeFi experience.

YIELDBANK TOKEN STRUCTURE

The Yield bank platform operates with three types of tokens to help keep the ecosystem organized and functional. The Lp token is a deflationary token utilized to stabilize market price as well as provide passive income for infinite locked liquidity providers.

The subsequent token is the YB token which serves as a tool for staking and in turn reward stakers in the form of ycash. This is the key token of the yield bank ecosystem as it determines whether a user is eligible to participate or not in staking.

Then we have the ycash,which is used to reward users who staked the YB tokens, as staking rewards on the system.

yB Token supply breakdown

Total supply: 75,000 yB
[68 %] Rewards — 51,000 yB
[8 %] Liquidity Episode — 6,000 yB
[6 %] Reserved / CEX Listing Supply Escrowed — 4,500 yB
[5 %] iYield Team — 3,750 yB
[5 %] Circulation / UNI Liquidity Pool — 3,750 yB
[5 %] Development — 3,750 yB
[3 %] Marketing & Partnerships — 2,250 yB

yCASH Token supply breakdown

Total supply: 75,000,000 yCASH
[68 %] Rewards — 51,000,000 yCASH
[10 %] Liquidity Episode — 7,500,000 yCASH
[9 %] Development — 6,750,000 yCASH
[5 %] Circulation / UNI Liquidity — 3,750,000 yCASH
[5 %] iYield Team — 3,750,000 yCASH
[3 %] Marketing & Partnerships — 2,250,000 yCASH

Conclusion

Yieldbank is an exceptional stage fit for disturbing the budgetary territory. The yGasSaver incorporate proposal by yield bank is a significant component that should cause to see the stage as it urges customers to save gas spend on trade. The yGasSaver feature just unites various advances trade into a direct one thusly saving gas that may have been spent.