Seywap, a full-service platform for digital asset services, has started hosting the IDO for the launch of Yieldly, a DeFi solution based on the Algorand blockchain.
Yieldly and AMM / DEX’s Bridge products are expected to open the Algorand ecosystem for many use cases. This includes crop farming, NFT distribution, and social reward systems. Her partners include Borderless Capital, Longhash Capital and CMS Holdings.
The Yieldly DeFi ecosystem consists of four pillars
- With Yieldly’s specially developed intelligent contracts, developers of ASA tokens (Algorand Standard Assets, comparable to ERC-20 on Ethereum) can easily create Stake out and reward systems on Algorand.
- Yieldly built the first one lossless lottery designed to use Algorand’s rewards system, aggregate rewards and distribute them to users. Similar to PankcakeSwap and PoolTogether in their respective ecosystems; Yieldly’s lossless lottery will unleash deep liquidity for Algorand.
- Yieldly wants to make it easy for everyone to access Algorand and experience the many benefits of the DeFi protocol. For this purpose, Yieldly built one Token bridge between the Ethereum and ASA tokens. Yieldly will build more bridges to expand the paths for every native ASA token holder.
- Once the smart contracts allow users to build stakeout and reward systems and open the pathways for more liquidity to flow into the Algorand ecosystem; Yield will unite the ecosystem via one automatic market maker (also known as Decentralized Exchange or DEX).
Trading / holding funds in the Algorand network
To trade on the Algorand network and access Yieldly’s YLDY tokens, you will need an ALGO funded Algorand wallet for transaction fees. High income investors can keep their YLDY tokens inside MyAlgoWalletwho have favourited Yieldly’s official wallet.
MyAlgoWallet is a blockchain wallet from Algorand that offers automatic ALGO stakeout and access to YLDY and other ASA tokens (Algorand Standard Assets, comparable to ERC-20 on Ethereum) with private key.
Sending funds all over Algorand is extremely cheap. Accordingly, the fee for a simple intelligent contract function like “send money” is around 0.001 ALGO. Due to Algorand’s transaction throughput of over 1000 transactions per second with a blocking time of just 5 seconds; The transaction is confirmed almost immediately on the AlgoExplorer.
The Algorand Blockchain provides users with instant transaction finality. In contrast to previous implementations, which are based on proof-of-work, Algorand only requires negligible computational effort. plus generates a transaction history that does not “branch” with an overwhelmingly high probability (one in a trillion).