Yieldly Launches a Trio of Staking Options for HEADLINE (HDL) — February 10
We’re proud to announce another exciting addition to our growing list of TEAL 5 rewards pools in line with a new partnership with Algorand Infrastructure builder, HEADLINE INC, and its native token HDL. Launching on February 10, Yieldly will roll out three staking options for users to generate rewards with $HDL, powered by Yieldly’s revamped TEAL 5 staking contracts.
Three Ways to rewards with HDL staking — TRIFECTA!
Distribution, Staking, and LP Pools (TEAL 5) — all in one place, Yieldly.
1. Distribution Pool (30 days duration): Stake HDL for HDL, with the benefit of TEAL 5 auto-compounding!
2. Staking Pool (60 days duration): Stake YLDY and receive HDL rewards.
3. LP Pool (60 days duration): Stake HDL/YLDY LP tokens to receive YLDY.
All three staking options will go live on Yieldly’s groundbreaking DeFi suite on February 10.
Anyone who has been paying even the slightest bit of attention to the upcoming projects in the Algorand ecosystem has probably heard about HEADLINE. HEADLINE is a Texas-based fintech startup and media company building software solutions on the Algorand blockchain. Some of the applications built by HEADLINE include AlgoPay, AlgoSwap, AlgoGlyph, AlgoVote, AlgoCloud, as well as their proof-of-stake social network FORUM.
With a focus on transparency and a unique mix of proprietary and open-source technologies, HEADLINE is running full steam ahead into becoming a Web 3.0 powerhouse. While the company set its sights on building on Algorand, they realized that much of the infrastructure needed for success didn’t yet exist. With the help of a grant from the Algorand Foundation in August 2021, HEADLINE has been hard at work building these tools from the ground up.
Aaron Martinez, CEO at HEADLINE, said: “Our strategic partnership with Yieldly is significant in several key ways. This is HEADLINE’s first ecosystem partnership, and we believe Yieldly’s collaborative spirit and technical knowledge will be invaluable resources moving forward. We also believe it is critical to forge strong bonds with our fellow ecosystem leaders, and Yieldly has consistently delivered in this regard. Furthermore, we are excited to work with Yieldly in the months and years ahead as we scale our product offerings and drive adoption of the Algorand blockchain.”
What is HDL?
HDL is a utility token that powers HEADLINE’s proof-of-stake social network, FORUM. Users are required to hold at least 100 HDL tokens to access the site. HEADLINE believes that a proof-of-stake social media model is far superior to ad-based models at facilitating healthy social interaction.
Moving forward, additional features and value will be added to the HDL token, including ecosystem building, staking rewards, aspects of governance, and eventually a transition from utility token to currency — at which point HEADLINE will accept payment in HDL for goods and subscription services across their product suite.
Yieldly plays a crucial role in incentivizing the growth of not only individual Algorand Standard Assets (ASA) but the Algorand ecosystem as a whole. Stay tuned for more.
Yieldly will soon announce more liquidity partners; if you are an ASA looking to collaborate, email us at firstname.lastname@example.org.
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