We are delighted that CMS Holdings is one of the lead VC partners for Yieldly’s decentralised finance platform built on the Algorand blockchain. This is a major boon for Yieldly and the DeFi sector at large, as it will not only bring new capital into the market, but CMS will also be working to help build new and valuable projects that will help to grow Yieldly’s user base and attract increasing institutional attention. All of this is being made possible thanks to the liquidity and cross-chain interoperability already available on Yieldly and Algorand.
What Brought CMS to Yieldly
CMS Holdings is a VC firm dedicated to supporting the blockchain and DeFi ecosystem. This comes in the form of both holding actual crypto token assets as well as equity stakes on top DeFi platforms. The company is run by founding partners Bobby Cho, Dan Matuszewski, and Julien Collard-Seguin, all experts in blockchain technology and trading strategy. Already, CMS has supported over 80 blockchain projects and worked hard to see the DeFi ecosystem prosper.
When the team found out about Yieldly and how it is bringing the DeFi ecosystem onto Algorand, it definitely got their attention. Algorand is well suited for asset creation and decentralized exchanges, and already there are multi-asset staking pools as well as cross-chain swaps being deployed. This is the type of environment that CMS wants to foster, and as such has become one of the many platforms that the firm is partnering with.
Though nothing official has been announced yet, the team is also committed to building more projects on top of Algorand in order to encourage a much larger and more dedicated adoption. With any luck, this should also bring in increased cooperation and future partnerships. Lastly, CMS is actually staking YLDY, Yieldly’s native token, in order to enhance the network effect and add value onto Algorand directly.
Building a More Inclusive DeFi Ecosystem
One of the key aspects of Yieldly and Algorand that attracted CMS in the first place is the emphasis on cross-chain interoperability and liquidity. CMS believes that the future of DeFi will involve many different networks being able to frictionlessly transfer value between each other. This ecosystem is ultimately what will offer true usefulness to the user base and should drive growth and industry adoption.
There is also the value brought in by being self-sovereign in handling your own money, and not needing third party services who generally take a notable cut. While these facts stay true across much of the DeFi landscape, Yieldly additionally offers a degree of security that many other platforms simply can’t match, thanks to their fully audited smart contracts.
Further, Yieldly offers a suite of other services and tools, for example, a zero-loss lottery and many more fun opportunities to come. Because of this both Yieldly and Algorand have positioned themselves to be a major player in the DeFi space for some time to come. CMS saw this and has decided to help the platform grow to its full potential.
Moving forward CMS is hoping to work with Yieldly to overcome some of the issues still plaguing the decentralized asset landscape. There is still a great need for improved liquidity, which the aforementioned cross-chain compatibility should help with. Furthermore, the known issues of high transaction fees and slow confirmation times are also being addressed by both Yieldly and the underlying Algorand infrastructure.
In general, there also just needs to be more products, more opportunities and more awareness in the general population. Bringing new teams into the ecosystem and building valuable platforms that anyone can use is one of the most essential ways that CMS can help Yieldly and DeFi thrive. In the coming years, the hope is to see Yieldly thrive and become a leader in an ever-growing DeFi powered future.