The purpose of this site is to share and grow the Algorand ecosystem, and no discussion of the ecosystem would be complete without a discussion and introduction to Yieldly.
We’ve taken a look around the site and wanted to share with you our thoughts and information. This post is a short one, but it’s in depth.
What is Yieldly?
You can’t talk about what Yieldly is without a discussion regarding what decentralised finance (DeFi) is. We know that you probably understand what DeFI is but here’s a short definition just in case.
DeFi makes use of the blockchain and has emerged in recent years. With DeFi, you no longer have the banks or financial companies acting as intermediaries and charging high fees for you to invest your money.
You also maintain control of your money, storing it in a secure digital wallet. DeFi is open to anyone with an internet connection and transactions can happen in seconds.
DeFi is a broad coverall description for a range of financial products in Web 3.0.
This brings us to Yieldly. Yieldly has brought a DeFI product suite and built it on the Algorand blockchain.
With Yieldly you can stake your Algo or ASA, as well as taking advantage of YLDY Cross-Chain Swapping. All of this means you can trade security and fast, and you can do so whilst paying significantly less fees. They describe their mission as to “create the next-generation DeFi ecosystem; one which enables the lightest and fastest digital asset exchange accessible across all major chains.”
They have also had a range of prize games but this product suite is currently being decommissioned.
If you want to find out more about Yieldly, a great place to start is by joining the Yieldly Telegram community. They are friendly and helpful to newbies that want to get involved.
They also have a great ‘Get to know Yieldly’ blog as a helpful introduction to the protocol, and you can see Yieldly’s roadmap on their homepage.
Why Yieldly on the Algorand Blockchain?
There are some key reasons why you should choose Yieldly. Firstly, the fact that they are leveraging Algorand, a layer 1 blockchain protocol that has superior features when compared with many of the other popular platforms.
Algorand combines the best of sustainability, security, scalability and decentralization. Further, it delivers the combination of fast transactions and low fees.
The Yieldly platform has been independently audited and verified. Halborn is one of the top cybersecurity experts globally and they have audited the Yieldly platform. You can also see that Yieldly is backed by some of the top tech industry VCs. All key investors and supporters are listed on their website’s homepage.
How is Yieldly supporting the environment?
Yieldly has made significant effort and investment in their environmental credentials. Firstly, by choosing Algorand for their layer 1 blockchain, they have chosen a blockchain protocol with a commitment to being the “Greenest Blockchain with a Carbon-Negative Network Now and in the Future.”
Further, they have made their own commitment to carbon neutrality, through the acquisition of carbon offset purchases. They are also committed to animal conservation,.
Important Yieldly links:
Twitter: https://twitter.com/yieldlyfinance
Blog: https://yieldly.finance/blog/ Telegram community: https://t.me/yieldly Telegram Announcements: https://t.me/yieldlyannouncements
Discord: https://discord.gg/Vxdw7t5ZaX
Medium: https://yieldly.medium.com/
Press: https://yieldly.finance