Yieldly To Launch 3 New Pools In Partnership With GARD Protocol
Today, Yieldly is pleased to unveil a new addition to our family of staking pools — this time in partnership with the GARD Protocol and their GARDIAN token. The Staking Pool and LP Pool will launch on 29 September 2022, with the Distribution Pool coming two weeks later on 13 October 2022. This partnership has been created to celebrate the GARD Protocol’s recent testnet launch and upcoming V2 mainnet launch during the first week of October .
Multiple Staking Options Incoming
- YLDY → GARDIAN : Commencing 29 September for 30 days, stake your YLDY for GARDIAN.
- GARDIAN/YLDY LP → YLDY : Commencing 29 September for 120 days, users can stake GARDIAN/YLDY LP tokens and get YLDY.
- GARDIAN → GARDIAN : Commencing 13 October for 90 days, users can stake GARDIAN and receive GARDIAN.
A Closer Look At GARD Protocol
GARD is an overcollateralized stablecoin similar to DAI that can be minted and borrowed against intrinsically valuable collateral. To mint GARD, users can use ALGOs, ALGO derivatives like gALGO, or ALGOs committed to governance via the GARD Protocol that would otherwise be locked in a user’s Algorand Governance position. GARD is hard money as opposed to other competing stablecoins and can now be staked natively on the GARD dApp to earn a share of the protocol’s revenue.
GARDIAN is awarded to users that help promote the GARD Protocol’s success. It will be redeemable in the future for the protocol’s governance token, GAIN, on or before April 15, 2025, and may be used for preliminary votes made on the platform before the GAIN TGE. There will be a total of 1,000,000,000 GARDIAN tokens minted that will be equivalent and later convertible to 5% of the total GAIN token supply (100,000,000 tokens).
These tokens will be distributed by the GARD protocol and other ecosystem partners to promote the growth of the protocol and broader Algorand community while making a commitment to decentralizing their protocol from day one. The GARDIAN token will play a vital role in distributing ownership of the GARD Protocol from the inception of its operation and incentivizing the protocol’s adoption. Learn more about the GARDIAN incentive program and its terms here.
“Partnering with Yieldly is an amazing opportunity for GARD. We are absolutely thrilled to work with the Yieldly team and community as they have been champions of DeFi in Algorand and key innovators in the space. The GARD Protocol is committed to being owned by the Algorand community and this partnership will enable us to better distribute ownership of the protocol to champions of the Algorand community. We believe in rewarding Algorand and GARD Protocol supporters alike for their ongoing commitment and contribution to the ecosystem,” said GARD Protocol’s founder Rylie Rueda.
Yieldly will continue to announce more liquidity partners, so stay tuned! If you are a verified ASA project wanting to collaborate with Yieldly, please drop us an email at email@example.com with as much information about your project as possible, and we will be in touch shortly!