Today, Yieldly announced a strategic alliance with MEXC Global, a world-leading centralised exchange with 6m+ users and $500m+ in trading volume daily. The partnership will see the Yieldly platform become the first vertically integrated staking, NFTs and listing launchpad for ASA tokens. Algorand projects launching via Yieldly will also benefit from the platform’s cross-chain bridge to external DeFi ecosystems, including Ethereum, Polygon and Binance Smart Chain, extending liquidity and fostering adoption.
The partnership will help Alogrand blockchain projects raise funds and increase their reach across the crypto ecosystem. For example, Yieldly’s staking pool partners will be invited to apply for world-class listing and investment — from both MEXC Global and Yieldly. Additionally, listed projects will also receive a wrapped ASA token to be distributed across Yieldly pools, or leverage Yieldly’s cross-chain bridges, to extend pathways to liquidity.
MEXC Global is becoming recognised as a trailblazer for incubation services, IEOs, and ecosystem acceleration. Just last month MEXC Global partnered with Avalaunch, the first native launchpad creating equitable opportunities for projects on Avalanche. Bringing in the power of MEXC Global’s liquidity stands to provide ample resources to start-ups who need this type of support to hit critical mass. A similar partnership was rolled out in July with Unicrypt, another provider of a wide array of decentralized services, again in the hopes of growing exposure and liquidity.
Akin to the Avalaunch and Unicrypt partnerships, working with Yieldly will usher in the next generation of applications onto Algorand, the world’s first pure proof-of-stake blockchain. This move will further the maturation of the Algorand, a blockchain that has experienced 6400% user growth since July 2020.
Together with MEXC Global, Yieldly will build foundational relationships with early-stage ASA projects that leverage its world-first platform. Yieldly will onboard ASA projects for dynamic staking pools, NFT gamification, cross-chain bridges, world-class listing and investment, an imminent automated market maker .
The MEXC Global alliance cements Yieldly’s position as major infrastructure player within the Algorand ecosystem. It fundamentally changes Yieldly’s complexion and mechanics. Yieldly is now the one-stop-shop for liquidity and interoperability; dedicated to supporting ASA projects and their communities, and accelerating global tech.
Yieldly has always shown its commitment to building DeFi on Algorand. Already the platform has seen over $100 million in Total-Volume-Locked, processed more than 750 thousand transactions, and has created strategic partnerships with esports firms such as Talon and BOOM. Partners for pools and bridges to be announced soon.
Thanks to these partnerships, both Yieldly and MEXC Global are bringing more connectivity, more liquidity, and more exposure to the DeFi space and Algorand’s place in it than ever before.