Introduction
For individuals to profit more from monetary platforms, a system was put in place by investors, geniuses of world economics, the financial market, and lovers of crypto for people profiting. The Yieldtopia ecosystem is such a decentralized mechanism that creates a means for its users to gain consistently through a token, Yield, which uses an asset USDY to maintain its value.
USDY, The Stablecoin
This is a safe coin totally decentralized and crypto linked in ratio 1:1 to BUSD. In the crypto currency domain, BUSD is rated the most dependable amongst other stable coins. This statement is inarguably right because the largest cryptocurrency, Binance owns BUSD.
When BUSD is stable, it aids in regulating USDY to be stable with US Dollar. Yieldtopia
took the burden of creating an asset pegged to BUSD while Binance network is saddled with managing it with the Dollar. Sustainability of this form is what USDD, UST, and others are lacking which led to their de-pegging whether pending or not.
Advantages of USDY
Beyond being a stablecoin, USDY holds the following benefits:
- Stakes and Farms: On yieldtopia's pools for stakes and farms, USDY will be made handy for all. Asides the option for lending on the platform, other DAO mediums and stake collaborations are worked on to permit the individuals holding USDY have entry to rewarding pools committed to USDY. The growth of Yieldtopia protocol will multiply the opportunities and allies on the ecosystem.
- Decentralized Liquidity Provider: Users can offer liquidity for their preferred cryptocurrency assets pegged with USDY. Liquidity pools can be developed on the Swap feature or various decentralized exchanges. It is also possible to gain commission after every successful swap.
- Profit Through Lending: DAO platforms that back up lending are working hand in hand with Yieldtopia. As soon as their partnership is agreed upon, various DAO mediums will list USDY where holders will get access to them and receive extra earnings through the platforms.
- Referral Program: By recommending family, friends, acquaintances, and others about Yieldtopia, you get bonuses.
- Yieldtopia's Gain Portion: Holders of USDY will partake of the revenue generated by Yieldtopia. Every unit of utility in the system yields profits which is apportioned to the holders automatically. Although the profit is inactive, it will be seen in the holder's wallet.
Factors That Make a Sustainable Stablecoin
After analyzing several stablecoins, learning from their mistakes and implementing the corrections, the following were noted to be key parameters for an effective stablecoin:
The Support of a Big Enterprise
Getting the backing of a huge corporation will make sure the 1:1 USD pegging with your coin remains stable. For instance, Yieldtopia got the support of Binance for BUSD. However, the native coin's value must be significant, useful to the investors, and linked to the Decentralized financial system.Secure and Untapped Source Code
It is of great importance that you go through the source code of a contract twice, thrice, or more prior to the authorization of the net's original version. You should keep it in mind that the code cannot be edited once an address is inputted on the blockchain network. Hence, you must ensure every work passes through another party (3rd party) security enterprise. Yieldtopia went through this process of audition via a popular decentralized finance company known as InterFi.
Based on the above characteristics, USDY fits into the criteria of a stablecoin which is why it is used by Yieldtopia.
Conclusion
Farmers, stakers, borrowers, lenders, holders, liquidity providers, amongst others are encouraged to be active participants in the community and decentralized financial space. By doing so, holders receive extra income. Thus, everybody wins with Yieldtopia making it a productive and long term project for all.
USEFUL LINKS
Website: https://yieldtopia.finance/
Whitepaper: https://docs.yieldtopia.finance/
Telegram: https://t.me/yieldtopiachat
Twitter: https://twitter.com/YieldTopia
Medium: https://medium.com/@YieldTopia
Instagram: https://instagram.com/YieldTopia
AUTHORS DETAILS
Bitcointalk Username: Onyiiok
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2766257
Proof of Authentication: https://bitcointalk.org/index.php?topic=5405551.msg60630112#msg60630112
BSC Wallet Address: 0xC6F3c5821Fd62421c6A03888e9Ff8b8C2483B9Bd