YFTether

YFTether is the brand new token that is created to help advance the rebuilding of the banking system in an open and transparent manner. YFTether is distinct and succinct as it expands the utilisation of blockchain from elementary value transfer to further complex financial use cases. According to Alex Pack, the managing partner at a $100M crypto fund, Dragonfly Capital, “You only get that shot every 50 years.” Let’s look at a couple of examples to understand what he means and why now is the time to invest in YFTE.

“Freedom is nothing but a chance to be better.” — Albert Camus

Silicon Valley veterans will tell you that the revolution of personal computers began in January 1975 when the magazine _Popular Electronics _ran a cover story on the extraordinary Altair 8800 which cost $397. The opportunists like Bill Gates, Paul Allen, Steve Ballmer and Steve Jobs understood the demand in the market that the feature had created and took the shot at starting their respective companies — Microsoft (1975) and Apple (1976). The rest is history.

If the 1970s saw the rise of personal computers, the 1990s witnessed the dawn of the internet. Successful visionaries such as Jeff Bezos and Elon Musk recognised the potential of the dot-com boom and created companies like Amazon (1994), Zip2 (1995) and PayPal (1998) to advance its future.

“If a window of opportunity appears, don’t pull down the shade.” — Tom Peters

Launched in 2009 by Satoshi Nakamoto, Bitcoin became the first blockchain-based cryptocurrency and it’s still the most successful one. While Ethereum and Bitcoin remain the primary DeFi applications, they are both run by a huge network of computers rather than any central authority. These are used as a store-of-value investment such as gold, by many investors as it protects against inflation. Ethereum has also been supporting startups to crowdfund their operations.

A partner at Bain Capital Ventures, Salil Deshpande, who is responsible for leading the company’s crypto investments thinks that the reason why people first became interested in DeFi is that “they have a libertarian streak”. People get the freedom to create censorship-resistant products on DeFi platforms such as YFTE which for some developers can be a fascinating capability when it comes to experimenting with the technology.

“Incredible change happens in your life when you decide to take control of what you do have power over instead of craving control over what you don’t.” ― Steve Maraboli

The most thunderous effects of DeFi applications such as YFTE will be seen over the long term as this system has the power to make our financial systems less fragile and more transparent and resilient. DeFi allows various entities to maintain a copy of transaction history, making it accessible to several members instead of allowing control to a single or central source. This development is crucial because, in centralised systems, human gatekeepers have the power to limit the sophistication and speed of transactions while providing users with less control over their own money.

DeFi — Regaining Control Over Your Finances

The market of decentralized finance has proven its use case by producing staggering growth over the last few months. These services have the potential to soon become the next crucial application for blockchain users looking into decentralization of traditional banking functions such as saving, borrowing and lending.

Understanding YFTether Finance

YFTE has numerous benefits which make it an interesting DeFi protocol. Let’s look into some of those:

Staking tokens

Our protocol enables users to stake YFTE to collect a bountiful return on investment (ROI) of either 0.2% daily or 6 % monthly or 72% annually on their total stake amount. It might seem like other yield farming pools offer a slightly more APR return, nonetheless, these rewards are introductory and are generally declined over time. This happens due to a surge in token circulation from minting (resulting in a degradation of existing tokens).

Taking this into consideration, plenty of such platforms usually yield only 40-45% annually (net). Using YFTE, users will have access to a fixed return rate on their stake of YFTE tokens at the rate of 0.2% daily (6% monthly or 72% annually). These guaranteed returns are sustained and delivered in regards to the YFTE tokenomics.

Maximum there can be 21,000 YFTE tokens as there’s no provision in the contract which allows to mint more tokens. Please note that 7,200 of total 21,000 tokens will be stored in a contract including staking rewards (this is calculated to cover the operational cost of the first 3 years).

These funds are meant to be restored over time from the fees that are produced by the platform. When new features are added, a fee is generated. This is what makes the rewards sustainable over a period of time.

YFTE is a simple and elegant protocol which needs only a 72-hour lock-up which initiates at the time of staking. The user is allowed to take out tokens any time once the 72-hour lock-up period has passed (along with an interest). While the interest can be withdrawn without any additional fee, tokens are staked within the platform so that users are encouraged to continue staking their tokens.

Staked tokens are also meant to lessen the accessible supply of circulating tokens. This, in turn, surges the price of the token in regards to the supply and demand metrics.