yieldly logo download PNG or SVG

Information about yieldly

Yieldly aims to revolutionize the way digital value is exchanged by introducing decentralized finance (DeFi) to Algorand. The platform strives to establish industry standards for safe, simple, and swift digital value exchange using blockchain technology. Built on the Algorand blockchain, Yieldly's DeFi ecosystem is composed of four key pillars. Firstly, their purpose-built smart contracts empower developers to create staking and rewards systems for Algorand Standard Assets (ASA) tokens, similar to ERC20 on Ethereum. This expands the usage of the Algorand ecosystem, enabling activities like yield farming, NFT distribution, and social rewards systems. Secondly, Yieldly has developed the first no-loss lottery that utilizes Algorand's rewards system to gather and distribute rewards to users, thereby enhancing liquidity on the network. Additionally, Yieldly plans to launch a cross-chain token bridge in June, allowing users to swap ASA YLDY for ERC-20 YLDY, making it more accessible for anyone to engage in Algorand and enjoy the benefits of DeFi. Furthermore, Yieldly intends to establish more bridges that facilitate ASA native token holders' participation, attracting new users and increasing liquidity on Algorand. Ultimately, Yieldly aims to unite the ecosystem through an automatic market maker (AMM) or decentralized exchange (DEX), potentially propelling Algorand to become a prominent DeFi protocol with widespread adoption.

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