In our second article the iYield Team is excited to share with you a list of key Yield Bank features. The Yield Bank platform aims to improve and unify many of the popular services DeFi has to offer under one platform alongside our own yield farming ecosystem.
All holders of the yB token have staking abilities on our platform. If a user provides IL Liquidity, in return their receipt - the LP token, can be directly staked to the platform for rewards of the yB token. Additionally, the yB token can be staked independently and singly unlike many other platforms. This diverse rewards system provides two types of rewards offered while staking in the yB platform. There is another key difference with our platform compared to other platforms - when staking the yB token directly to the platform, the rewards epoch for this action does not come from its original staked form but comes in the form of the yCASH token. This token is a deflationary token with similar qualities of the yB token. The yCASH token will be an open market token and of a higher supply. Its support and value will come from many pools in our platform for its liquidity support as well as its main support, its own ILL pool. The yB and yCASH tokens are deflationary - They automatically purchase themselves on the open market and automatically burn those tokens. This system will stay resistive to selling pressure and is designed to keep the value of our tokens high. Our system coding for this function leaves no doubt that sell pressure is being regulated. Once seen in action there will be no mistaking that we are actually doing as we have claimed, unlike other protocols who have been pretending to swat at a Mac Truck with a flyswatter, more on our technique to follow. Ownership of the native yB token is required as without yB, you will not be able to participate in our platform.
Professionals know where the real money and future is. Lately a market for LP tokens has been trying to make its way onto the DeFi stage in a brighter light than ever before. Yield Bank with its finance background sees the way these markets should be delivered to the world and sees how to professionally deliver them. This isn’t a video game and we aren’t trying to be the cool kids on the block here. We intend to deliver true value to DeFi and in the process deliver it in an understandable nature. The LP token alone holds massive opportunity that never has truly been let known. By taking our native tokens and pairing them with other high volume tokens, this allows for a different variety of pools to be created to earn passive income off of and a broader arbitrage market for trading, all which will appreciate and depreciate based off market conditions. Further the topic of wrapping tokens provides off-chain and on-chain assets the ability to make their mark on the DeFi space, which will further increase the LP’s values and trading opportunities into the stratosphere when wrapped and applied to a pool. We intend to deliver a vast variety of wrapped token assets, not just to force volume through our token, but to create and further develop a massively unprecedented market.
Inside Yield Bank’s vaults is a set of dynamic algorithms that automatically move funds to the best performing assets in real time. When and if that asset begins to fall outside a profitable threshold the algorithm will autonomously move to the next performing asset within the qualifying parameters set. These strategies are some of the finest trading strategies known with a well known trading bot developer partnership being developed to bring a fresh new take on autonomous trading. Further, we are the first to deliver off chain trading, trading outside of the Ethereum blockchain and onto other cryptocurrency blockchains. Additionally, we shall shatter another world’s-first with real world commodities and Forex market trading strategies by using state of the art off-chain technology in conjunction with various price oracles, reaching farther than any DeFi protocol has ever before. We are not named Yield Bank for nothing — we will be strongly focused on delivering SUSTAINABLE yields for the life of our platform, differentiating ourselves from other DeFi platforms with ridiculous APY rates and equally ridiculous short-lived lifespans of said platforms, on top of focusing on providing stable yields — not just on news releases.
These vaults are just that, made for retirement. One of our key goals at iYield is longevity. We plan on providing the best returns for many years to come at safe levels where any user can save for their future. We have compiled data that helps us make our 401K strategies provide long-lasting yields for our customers futures, not our own.
User Interface and Experience
Our team has looked at all the most popular DeFi protocols and platforms. We have deemed them far too low quality, poorly designed, plain, boring and most importantly very daunting and alienating the average crypto user. One of our primary tools through which we plan to achieve mass adoption is vastly improved user interface and experience — we plan to give the user an experience that feels very similar to what they are already used to packed into a simple UI they are all already familiar with. The majority of cryptocurrency users are still kept out of DeFi because of how risky and unfamiliar it is — we aim to enable the average crypto user to come into Yield Bank and be able to access the financial freedom DeFi offers.
Individual Account Propriety
We have built a database layer on top of the Ethereum network for our Yield Bank platform. Each ETH address holding yB will be assigned an account number, this account number is unique and is pegged in our database to that unique ETH address. What the database does is simply read data from a blockchain explorer such as etherscan and give you a full breakdown of your finances in a concise, easy to read statement based on your pegged Yield Bank account number, similar to a statement generated off of a traditional bank account. These statements will show balances, gains, gas fees, transaction fees, where your assets are allocated and more.
The People’s Fund
For the first time in DeFi, we are further rewarding our stakers and holders with “The People’s Fund”. This fund is compromised of a very minuscule tax on every sell or transfer that takes place. At key intervals this fund will automatically drain itself and distribute its total holdings to all token holders. Our ecosystem creates the most balanced system in all of DeFi, thus promoting market purchases and holding while deterring selling. We will ensure that all rewards will be enough to not have to sell our token and to gain passive income throughout our entire ecosystem - not just staking.
yGasSaver & Auto-Compounding
Our developers have developed a “yGasSaver” feature which combines multiple transaction steps into a simple one-click option to save our users on gas. We allow users to enter our pools without ever having to leave our ecosystem, swap tokens, add liquidity in various pools and stake the returned LP tokens all in one click. This allows for a huge savings in gas fees by roughly 90%.
Our Auto-Compounding feature is where when selected, allows the user to auto reinvest their yield dividends further into their currently staked pool, to create an auto compounding interest of their rewards. Our platform will automatically take the rewards yield, swap & convert into ratios necessary to add liquidity to the existing farmed pool, then take the newly generated LP tokens and add them to the user’s existing staked pool. This process is fully at the user’s discretion with a simple checkbox and execute function button on our platform. The user will also be allowed to create key autonomous intervals for when these yields would Auto-Compound, i.e. the user wishes to Auto-Compound 75% of yield rewards after 1% of profits gained from their original investment and place the remaining 25% of those gains in their Yields balance. Our unique account propriety system allows for key data to be harvested from their accounts in order to make this process a reality. This removes the painstaking task of taking the user’s yields by claiming the rewards, then adding those rewards by leaving the platform, going back to the original pool, then converting those assets into equal parts, and adding more liquidity, then re-staking the LP token back again to the farming platform. We will cover this process all with a single click of a button.
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The article and any other associated content of Yield Bank does not constitute as financial advice. Cryptocurrencies are a high risk investment and may not be suitable for all members of the public and all types of investors. This is an experiment in DeFi yield aggregating to bring longer and steadier yields to its users.