Yieldly Partners With Webblen, Releases New Staking Options, NFT Prize Games — February 17
We’re excited to reveal another addition to our ever-expanding list of TEAL 5 rewards pools, with our latest new opportunities coming as part of our partnership with decentralized social economy Webblen with its native token, WBLN.
Launching on February 17th, Yieldly will roll out two new staking options for users to generate rewards with WBLN, as well as a chance to win NFTs in Yieldly’s No-Loss Prize Games!
Putting Your WBLN To Work
There are two ways to generate rewards — but all in one place, Yieldly.
- LP Pool: Stake YLDY/WBLN LP tokens in order to receive YLDY, as well as enter a chance to win rare and exclusive NFTs from Webblen.
- General Staking Pool: Stake your YLDY and receive WBLN as a reward.
These Webblen-focused reward opportunities go live on Yieldly’s groundbreaking DeFi suite on February 17th.
Lastly, to show both teams are committed to the Algorand ecosystem, Yieldly and Webblen will each be contributing $50,000 to a YLDY/WBLN Liquidity Pool on the Tinyman DEX, expanding liquidity and exposure for both assets.
Webblen is poised to bring new functionality and income streams to the Algorand ecosystem. The decentralized platform is specifically designed to reward community engagement and promote positive social behavior. All community members can generate the native WBLN token by getting involved with local events and media, supporting local businesses, or accomplishing various objectives.
This is all part of Webblen’s vision for building healthy communities while also frictionlessly bringing the power of cryptocurrency and blockchain to the masses. Furthermore, by operating on Algorand and leveraging carbon offsetting technology, Webblen’s WBLN token is carbon negative — helping to ensure that the team isn’t promoting community development at the cost of the environment.
Kai Selekwa, CEO at Webblen, said: “We’re passionate about utilizing blockchain in order to improve the quality of our social settings. However, we didn’t want to push something onto people that was confusing or dangerous for them or the environment. That’s why teaming up with Algorand and Yieldly made so much sense. Here we could build a platform that is safe and easy to use while also much, much more energy efficient. It really is a win-win!”
The WBLN Token
WBLN is a fixed-supply Algorand Standard Asset (ASA) that acts as the native currency of the Webblen Network. Organizations or individuals can generate WBLN through event attendance, consuming music, videos, or podcasts, or through various forms of more direct community engagement. The WBLN token is rewarded to users in exchange for their attention and interaction within their physical and virtual Webblen Communities.
Once received, WBLN can then be spent at participating local shops, encouraging its integration for community goods and services. Additionally, the token can be spent virtually within the Webblen Network for a wide range of offerings, including acquiring dynamic NFTs, purchasing virtual products, conducting micropayments between friends, and much more.
Yieldly plays a crucial role in incentivizing the growth of not only individual ASAs but the Algorand ecosystem as a whole. Stay tuned for more.