The introduction of cryptocurrency into the global financial system has been nothing short of revolutionary. Since its inception, transactions have become quite simplified not only on a local level but also across nations as it is ideal for and facilitates borderless transactions. However, this system cannot possibly stand on its own without the roles of the blockchain technology. The blockchain is an electronic ledger which allows transactions to be performed securely, transparently and in a decentralized manner.
The blockchain technology is not only restricted to the financial industry as every other component of the globe like Healthcare, communication, and so on, leverage its unique features and potentials to add more value to their services.
Furthermore, the DeFi (Decentralized Finance) protocol which is based on the blockchain technology proffers a structure where participants can develop decentralized products and applications on a decentralized network like Bitcoin or Etherum. This helps them harness the full potentials of the blockchain to their own advantage away from the prying eyes of companies or government manipulation or control.
Among such decentralized applications is the yield bank substrate designed to increase users income by merely deploying their funds into the network. Hang on,lets clearly explain yield bank and how it functions.
WHAT IS YIELDBANK ALL ABOUT?
This is a unique ecosystem that is filled with various tools and applications aimed at helping users maximize profits. It is designed to provide the highest and safest yields which an individual could possibly achieve.
Yield bank intends to integrate an array of DeFi features and solutions that can substantially increase users profits as well as make provision for users within the substrate to enjoy the best possible DeFi experience.
The purpose of developing the Yield Bank ecosystem is to create a platform where individuals, investors and merchants within the cryptocurrency industry can passively generate more profits only by deploying their funds to the right nooks of yield bank substrate. Imagine employing your funds to work for you while you sit back and watch, amazing!
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.
CONCLUSION
Yield bank is a revolutionary tool within the cryptocurrency industry. It proffers users an opportunity to not only generate income through active participation but also learning new ways of deploying their funds and passively making more profits without hassles.
Regardless of how technical or not a user is, the yield bank presents an easy to use interface and an array of DeFi products that helps users to maximise their gain and increase profitability within the crypto industry.
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
AUTHOR’S DETAILS
Bitcointalk Username: Nancyo
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2759950;sa=summary
POA: https://bitcointalk.org/index.php?topic=5283622.msg55427513#msg55427513