Decentralized Finance(DeFi) which is a sector in the cryptocurrency industry that is growing at a very fast pace and it is focusing mostly on building financial services that are perfectly separated from the traditional and political financial system. DeFi has brought a lot of innovations and one of these innovations is Yield Farming.
Yield Farming is a way crypto users can make more crypto with their crypto assets. It involves lending your crypto funds to others through a protocol or computer program called Smart Contracts and in return for your loyal services the user earns fees in form of crypto.
But in the world of Yield Farming today, crypto users are not getting the maximum yields necessary when they lend their crypto and that is bad for business. The problem has been tackled by different DeFi Yield Aggregators but has failed to give crypto users the system that will offer them the highest yields when the farm and that is why Yield Bank has come in place.
WHAT IS YIELDBANK SYSTEM?
Yield bank is the largest prospective yield aggregator that plans to bring to the table (market) an avenue/ecosystem where the crypto masses can gain the highest and safest yield returns.
A system that has been set up by a team of brightest and smartest professionals in iYield crypto industry, alongside their excellent partners to seek mass adoption and extreme longevity.
WORKING CONCEPT OF YIELD BANK
The Yield Bank team has plans to improve many popular DeFi services and to offer these services under one platform alongside its maximum Yield Farming Ecosystem.
Staking: Staking was an innovation in DeFi brought in to play in other to enrich crypto users. Staking is done by holding a required amount of cryptocurrency to verify transactions and to support a network and in exchange for these services the users receive rewards.
Functionalities Of The YieldBank Staking System
All holders of the yB token have staking ability.
By providing IL Liquidity in their receipt return, the LP token can directly be staked to the platform for rewards in yB token.
Unlike other platforms, in Yield Bank yB token can be staked independently.
Users earn yCash token(a deflationary token) when they stake yB token directly on the platform.
Arbitrage: The purchase and sale of cryptocurrency simultaneously to profit from an imbalance in price is known as Arbitrage. Yield Bank pairs their native token with high volume tokens to allow a variety of pools to be created in other for users to earn passive income off of and a broader arbitrage market for trading, which will appreciate or depreciate depending on the market conditions.
Vaults: The Yield Bank vaults are designed on a dynamic algorithm that will automatically move funds to the best-performing assets in real-time. Yield Bank also makes provision for a 410K vault which users can use to save their assets for the future safely.
CONCLUSION
Yield Bank aims at providing sustainable yields and longevity for the crypto community and at the same time differentiate itself from other DeFi platforms with its amazing features and other features such as better and more beautiful UI, User experience, individual account property, etc. All this is set in place to give crypto users the highest maximum returns of yields.
USEFUL LINKS
Website: http://yieldbank.finance/
Twitter: https://twitter.com/yieldbank
Telegram: http://t.me/yieldbank
Medium: https://medium.com/@YieldBank/introducing-iyield-yield-bank-af745a661b0
AUTHORS DETAILS
Bitcointalk Username: Gopalwu
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2759913;sa=summary
POA: https://bitcointalk.org/index.php?topic=5283622.msg55445884#msg55445884