Yet another new partner is joining Yieldly’s already impressive array of staking pools, and that’s Choice Coin. Choice Coin is an Algorand Standard Asset (ASA), designed to solve the Decentralized Voting problem, and it is also the largest open-source project on the Algorand Blockchain. This makes it a fantastic choice for partnering with Yieldly to bring the true potential of DeFi to as many people as possible.
What Choice Coin Brings to the Table
Choice Coin has been developed by Fortior Blockchain, and the asset is designed primarily to solve the decentralized voting problem. This refers to the lack of a proper method for groups of people to make decisions in a decentralized manner. The overall goal is to power a decentralized decisions platform, where governance software will enable voting to be done directly on the blockchain. Decentralized Decisions will initially be used for governance on the Choice Coin DAO, and through it the project hopes to become a leader in blockchain governance technology.
Currently, Choice Coin is among the largest open-source projects being built on the Algorand Network. Just over the past 3 months, more than 1,000 community members, including developers, researchers, and leaders, have made significant contributions to the Choice Coin Ecosystem. Moving forward, the team plans to continue to drive open source innovation, and is set to have its first official governance process in December. Ultimately, Choice Coin is positioning itself to be a fully decentralized community and the software of choice for governance on Algorand.
Fortior Blockchain is excited to further decentralize their coin through the use of the staking pools available on Algorand, via Yieldly. In partnering with Yieldly, Choice Coin will also further strengthen the ASA Alliance. Setting a precedent for other tokens, with even more diverse use cases, to join the platform. Archie Chaudhury, co-founder and CEO at Fortior Blockchain said: “We are excited to have Choice Coin on the Yieldly Platform, and hope that this partnership will bring more participants to the Choice Coin Ecosystem. Yieldly is at the edge of DeFi Innovation on Algorand, and we look forward to cultivating a long and fruitful partnership with them.”
Another Step Forward for DeFi
This move brings Choice Coin onto Yieldly alongside similar pools for assets such as Xfinite, Algogems, Opulous and more. The first Choice Coin pool will be launching on November 30th, and will be a YLDY/CHOICE pool, with a CHOICE/CHOICE pool launching 13 days later. Truly, this brings more options than ever before for users to maximize their exposure to the hottest performing assets on Algorand. Of course, as Yieldly is dedicated to being the premier DeFi platform around, expect more announcements soon of other assets and pools launching on our platform.