Yieldly Reopens IBMR (ARCC) Staking With New Liquidity Mining Option — February 3
As part of our ever-evolving suite of offerings, Yieldly is proud to announce the return of staking options for the International Blockchain Monetary Reserve’s ARCC token. The reopened pools will see a new and improved return of the classic staking pool (TEAL 5) along with the introduction of a new ARCC liquidity pool.
About the next-generation ARCC pools
Beginning February 3, users across the globe will be able to:
- Supply liquidity via ARCC/YLDY pairs on Tinyman (TEAL5) as well as stake ARCC/YLDY LP token on Yieldly to generate tangible rewards.
- Stake YLDY to generate ARCC.
Staking refers to the process where users commit a set amount of crypto collateral to support and secure Proof-of-Stake (PoS) based blockchain networks.
Liquidity mining, on the other hand, involves users supplying liquidity to a network by allocating token holdings to a pool to be subsequently used for trading purposes. In return, the liquidity providers are designated a % of the total trading fee, usually in the form of a protocol’s native crypto token (in this case, YLDY).
With Yieldly’s dual pool system, the flywheel is set in motion. By bootstrapping liquidity on Algorand in this manner, Yieldly operates as the core staging platform for a wide array of Algorand Standard Assets (ASA), allowing them to thrive within the burgeoning crypto ecosystem.
About ARCC
The Asia Reserve Currency Coin (ARCC) is the native token used by the International Blockchain Monetary Reserve (IBMR). IBMR’s mission is to break the cycle of poverty, exploitation, and wealth disparity in failing emerging markets through the decentralized network effects of blockchain technology, focused in Southern Asia.
After April 8, 2022 the ARCC token will be exchanged in a 1-to-1 exchange with the QMG token in line with a Web3 GameFi pivot to focus on the microfinance aspects of P2E. More information can be found at QMGLabs.io.
What makes Yieldly’s TEAL5 smart contracts unique?
Our multi-audited TEAL 5 contracts have been designed to help provide users with a vast array of benefits, including multi-token staking, liquidity token staking, and auto-compounding staking — with second-by-second rewards. The TEAL 5 framework also makes sure that it is easy for individuals to deploy various advanced security features, especially if in-depth checks are required for different functions.
TEAL 5 contracts also come with the ability to construct and execute their own ASA asset and ALGO transactions, increasing the overall security of withdrawals. These contracts greatly improve business logic despite being smaller in size compared to TEAL 3 contracts — all while offering developers the option to employ complex logic modules and an improved user flow interface.
Yieldly will soon announce more liquidity partners; if you are an ASA looking to collaborate, email us at hello@yieldly.finance.
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