While the DeFi app has taken over the crypto space in 2020, there is also a dark side to the whole process with a 'rug' that often tarnishes the reputation of the industry. The ease of setting up DeFi tokens on Ethereum has also seen a lot of bad apples over the last few months. A prime example of a possible rug is the Uniswap clone, SushiSwap, which has dropped more than 96% since peaking after its release.
Now to put an end to the current problem and restore a level of trust to the DeFi space, YFSwap presents a new generation of DeFi tokens which will be the top versions of Bitcoin and Ethereum.
what is yfswap?
YFSwap is a financial platform based on Blockchain technology and using the concept of decentralized finance, the AMM-based Dex platform was created with the aim of becoming a universal platform with a large number of cryptocurrency pools and options.
Initially
there will be 2 options on the YFSwap platform, YFBTC and YFETH, which will
temporarily use the Uniswap LP pool and use the independent LP pool when the
pool liquidity meets the criteria.
As
we know, Uniswap currently shares revenue from swap fees with its main
investors themselves, where on the YFSwap platform, all users can get more from
Uniswap and Sushiswap as a result of the results.
YFSWAP is divided into 2, namely:
1. YFBTC
YFBTC will be based on the Bitcoin Protocol which will follow the halving scheme of the Bitcoin Network. This is intended to maintain the sustainability of long-term planning after controlling the amount of funds held. Unlike Bitcoin which will be mined in 2140, YFBTC will be fully mined in a shorter time, which is 4 years. After that the platform will give full control to the community to choose where the community can decide to increase or maintain their supply.
2.YFETH
Just like YFBTC, YFETH will adopt a protocol from Ethereum with a lower supply than Ethereum and a token that will be distributed evenly to users, YFETH will follow the Constantinople Consensus. The YFSwap team made YFTETH fully decentralized by providing a community to take part in its development.
YFBTC
& YFETH are non-inflation cryptocurrencies that follow the same principles
from their legacy by being completely decentralized. YFETH is the original
YFSwap for AMM Pool prizes.
The
coin perfectly follows the old #BTC and #ETH mining reward protocols to ensure
it's a better version combined with upcoming Defi trends.
Instead
of mining, you can now support #YFBTC and #YFETH liquidity while earning rewards
for maintaining the pool.
You
can mine #YFBTC using #BTC and YFETH using #ETH, making it fair and possible
for everyone to be at the start of the next possible DeFi #BTC and #ETH.
In
short YFSwap & YFBTC:
The
YfSwap team will only receive 1% of all YFBTC & YFETH cultivated.
As
of October 15th, it is estimated that only about 10% of YFBTC & YFETH is in
circulation. 90% will be cultivated through agricultural products
YFBTC
& YFETH pools will have 2x more rewards compared to other mining pools
The
first AMM DEX to integrate the DeFi BTC & ETH ver which connects
stablecoins & BTC on the ethereum blockchain
Updated
October 15th. Deflation Farming for YFETH.
BTC
maintains its No. 1 by having only 1 main protocol that bisects. We will
maintain this legacy with YFBTC by not adding any additional functionality.
To
standardize the evaluation, we define the following terminology based on the YFWASP
Risk Rating Methodology:
- 1.
Likelihood
shows how likely it is that a particular vulnerability will be exposed and
exploited in the wild.
- 2.
Impact
measures both the technical loss and business damage from a successful attack.
- 3.
The
severity indicates the critical level of the overall risk.
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