Transition to Binance Smart Chain & Yield Bank’s Liquid Level Calculations

3 min readFeb 23, 2021

The iYield Team is excited to announce to you the addition of Binance Smart Chain (BSC) to the supported networks of our project as well as showing you the Liquid Level (LL) and other calculations related to our permanently locked liquidity pools. Yield Bankers, let’s get to it!

Ethereum Network Congestion

With the current rise in both ETH’s price and increased usage of ETH, the network is becoming critically congested. Nobody wants to pay over $300 in gas for a simple Uniswap trade, or 0.4 ETH to interact with a smart contract. Fees are reaching comically unsustainable prices in the last few days and in the long-term, this is threatening to any project deployed and reliant upon the ETH network. Currently, many users are “priced out” of interacting with and/or using ETH and the projects ETH Network supports, which goes against the core beliefs of not just our project and DeFi, but the idea of cryptocurrency in general.

We have seen the ETH Network experience congestion and high gas prices in the past, but the current situation seems fatal enough that we have to act to ensure the safety of our project and smooth operation of our yield farming, vaults and automated trading strategies, Liquid Lend as well as ensuring that our platform can run smooth with minimal fees incurred to our users.

Binance Smart Chain Transition & Deployment

Yield Bank’s platform and all of its smart contracts and functionalities will be co-deployed onto Binance’s Smart Chain (BSC) as soon as it is feasible to do so. Currently, this is scheduled for the end of March or beginning of April.

The Round 2 of our Liquidity Episode will be still done on ETH as it is already deployed and currently undergoing, as to not put user’s funds at risk or make the transition of switching chains mid-sale confusing for our users.

Liquid Level Calculations

With the model of permanently locked liquidity, every dollar of ETH, yB or yCASH…