In August, Yieldly announced it had entered an MOU with Stasis Labs to explore ways to leverage Yieldly’s community and Statis Labs deep technical talent and jointly expand DeFi capabilities of Algorand, including the building of yLaunch. We also recently announced a deal with self-sovereign identity (SSI) provider Nuggets to bring KYC-compliant features to the new launchpad platform.
We are pleased to announce that Yieldly and Stasis Labs have progressed from MOU to binding agreement to deliver a best in class launchpad for the Algorand ecosystem — yLaunch. This joint venture will mean YLDY holders and Algorand users will soon have the opportunity to gain exposure to the hottest project launches just by staking their YLDY on the yLaunch product at yLaunchpad.com.
Yieldly has already begun to seal partnerships to launch the ASAs of several upcoming and existing projects. As the Algorand ecosystem grows, and continues to generate attention, it sets the stage for a full stack of new projects preparing to launch with yLaunch using the new launchpads benefits.
yLaunch will be Algorand’s exclusive launchpad platform, assisting new projects in gaining visibility and awareness, as well as helping them crowdfund their token sales. Projects will get the chance to increase their reach across the Algorand ecosystem as a number of their tokens will be offered to the yLaunch community and beyond.
This recent product launch is the beginning of numerous potential DeFi products that Yieldly and Stasis Labs will explore co-developing — more of this in a later post.
“Launchpads are a key product in a healthy DeFi ecosystem. We are glad to be partnering with Stasis Labs to bring yLaunch to life and allow projects to utilise a compliant manner to crowdsource sale of their utility tokens.” said Sebastian Quinn, founder and CEO of Yieldly.
A thought echoed by Hemadri Raju, CEO of Stasis Labs “We are extremely proud to partner with Yieldly, a pioneer in the Algorand DeFi space, and the upcoming yLaunch will maximize the reach among the AlgoFam to a greater extent.”.
At Yieldly, we believe in the long-term promise of blockchain technology and are working hard to move the whole ecosystem forward, providing support for emerging projects from around the world. Since inception we have had over 100k unique wallets using our products. We welcome those users holding YLDY to get access to new projects in a more meaningful way.
At this stage we are working towards a soft launch of the product in Q1 2023.
About Stasis Labs
Stasis Labs, who were recipients of a sizeable grant from the Algorand Foundation through Asia’s hackathon championship, are a research and development firm of over 20+ cryptographic experts specializing in advanced blockchain protocols and DeFi solutions. They are a registered C-Corp in India and have spanned several blockchain projects in Algorand and Binance Smart Chain space since 2021, such as the Element DeFi Hub which is a product of Stasis Labs on Algorand.