Getting to Know Yieldly

Yieldly wants to help people re-conceptualize value and the way it is exchanged. Yieldly believes digital value should be exchanged swiftly, simply and safely. Accordingly, Yieldly is working to set the industry standards by which people interact with blockchain technology.

Yieldly has undertaken extensive user testing to identify the pain points experienced by both Algorand platform users and the DeFi community. In June 2021, Yieldly’s experienced team of blockchain developers will launch the game-changing technical infrastructure that the market has been waiting for.

Their top-tier partners, including Borderless Capital , Longhash Capital , and CMS Holdings , share a vision of Yieldly becoming a top 10 product in the DeFi space. You can find a full list of Yieldly’s global supporters on the project’s homepage: yieldly.finance.

There’s no doubt that the Algorand blockchain overcomes the Blockchain Trilemma , with its world’s first pure proof-of-stake security model, greater transaction speeds and lower transaction costs.

ALGO holders, however, are eager to access greater liquidity and increase the utility of their native tokens. Developers have been barred from building upon the protocol due to the absence of the smart-contract layer that other blockchains have been able to take advantage of.

Meanwhile, the DeFi community is calling for bridges to be built between decentralised exchanges to unlock liquidity across the ASA chain and other major chains like Ethereum, Polkadot and Binance.

Ultimately, Yieldly’s roadmap and soon-to-launch products provide the keys to unlocking liquidity across the Algorand ecosystem in the short term, and across multiple chains in the longer term.

Yieldly’s staking and No-Loss Prize Game solutions will provide for greater token utility, and create a pathway for future projects to develop on the Algorand blockchain. As explained by one of Yieldly’s partners, CMS Holdings , the bridge products and AMM/DEX will “open the door to a broader multi-chain universe through its cross-chain compatibility”.

  1. Yieldly’s purpose-built smart contracts enable developers of ASA tokens (“Algorand Standard Assets” comparable to ERC-20 on Ethereum) to easily create staking and rewards systems on top of Algorand. This opens up the Algorand ecosystem for use cases that are booming on other blockchains, such as yield farming, NFT distribution, and social rewards systems.
  2. Yieldly has built the first no-loss prize game designed to harness Algorand’s rewards system and aggregate rewards, and distribute them to users. Akin to PankcakeSwap and PoolTogether on their respective ecosystems, Yieldly’s No-Loss Prize Game will unlock deep liquidity on Algorand.
  3. Yieldly wants to make it easy for anyone to access Algorand and experience the many benefits of the DeFi protocol. To that end, Yieldly has built a token bridge between the Ethereum and ASA token. Yieldly will build out further bridges to expand the pathways for any ASA native token holder. This will drive new users and more liquidity to Algorand.
  4. Once the smart contracts enable users to build staking and rewards systems and open the pathways for more liquidity to flow into the Algorand ecosystem, Yieldly will unite the ecosystem via an automatic market maker, (otherwise known as a Decentralized Exchange or DEX). This component has the potential to elevate Algorand, to achieve mass adoption as a leading DeFi protocol.

The Yieldly roadmap includes a number of additional innovative initiatives. You can find the roadmap on the homepage of the Yieldly . If you are interested in learning more about the company’s solutions, join Yieldly’s telegram community: t.me/yieldly.

Originally published at https://yieldly.finance on May 21, 2021.

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