Several cryptocurrencies continue to show positive performance amid the economic slowdown caused by the Covid-19 pandemic. The performance of cryptocurrencies amid a pandemic like now can help boost the economy. Investors and traders can take advantage of this momentum to reap profits and cover losses due to the decline (sideways) of the performance of other investment products due to the covid-19 outbreak. Investors and traders will turn to more attractive places to help increase their income, one of which is cryptocurrency. Now we see the trend of various other cryptos experiencing alternating increases. Almost every week some coins are traded on crypto exchanges and experience price increases.
Recently we have seen a large volume spike for DeFi projects, specifically Yield Farming. DeFi projects experience massive growth in their market capitalization as well as their volume, which results in parabolic growth for certain projects. Yearn Finance YFI tokens touched $ 43k in September 2020 providing more than 1000x returns from a July 2020 low of $ 31 per YFI in three months.
Apart from YFI, there are DeFi projects that have the potential to experience fantastic price increases. This happened in line with the increasing demand for tokens developed by the DeFi project as the DeFi project infrastructure grew. One of the projects that have the potential for price increases is YEARN.GLOBAL (YG)
YEARN.GLOBAL
Yearn.Global (YG) is a protocol-independent definition that offers a cross-chain defi product to its users. Users can benefit from high yield pools on the YG platform designed to provide investors with a high APY. Unlike other DeFi platforms, YG offers DeFi Staking, Farming, Vaults, and Cross-chain Swaps on its single platform. YG will collect supply from Cross-Chain DEX liquidity providers to replenish its liquidity sources. Partnerships with major liquidity aggregators will allow users to exchange and trade various assets.
Yearn.Global will be supported by YG Token, which is the original token of YG Platform & will initially become ERC-20 DeFi Token and will later be available on TRC-20, the BEP20 blockchain. YG tokens will increase the value of the Yearn.Global platform with a liquidity pool and various use cases. Limited supply and constant demand will help YG tokens to get an attractive ROI for their holders over time. XYG Tokens will also be created once YG Tokens reach their maximum supply to reward YG Platform liquidity providers. The xYG Token Value will be determined using the Governance voting by the community at the time of Token creation.
Benefits
Long-term asset investors who use the YG platform will get additional income. When investing their assets with the YG Platform, users can earn interest in their blockchain assets along with additional YG / xYG Token rewards.
The benefit for miners/staking is that YG Pools are tailored to provide high yields and APY to users and participants. Also to deal with excess liquidity, Halving and Burn Options will be used and entered into the Master Chef Contract. Early investors will benefit from a liquidity pool of up to 2000% APY which will be halved at regular intervals until it stabilizes around 125% APY.
Another benefit of the YG project is the development of Stable coins which will be asset-backed and pegged to asset values such as USD, EUR, GBP, ETH & BTC. This will reduce the dependence of the YG Platform on its partners to provide cross-chain liquidity. This will not only power the DEX YG but will also assist in smooth Swap function.
That was a brief explanation of one DeFi project that might have good potential to be invested in during this pandemic. For more details, please click and visit the link below:
Website: https://yearn.global
Telegram https://t.me/yearn_global
Twitter: https://twitter.com/globalyearn
Medium: https://medium.com/@yearn_global
Email: [email protected]
Author's Details
Bitcointalk Username : Ludmilla_rose1995
Bitcointalk Profile URL : https://bitcointalk.org/index.php?action=profile;u=1064448
ETH / ERC-20 Address : 0x29ac4A201C36b7922430F0A37976C1bA1c617339