While DeFi applications have taken the crypto-space by storm in 2020, there has also been a dark side to the whole proceeding with frequent ‘rug-pulls’ damaging the industry’s reputation. The convenience of setting up a DeFi token on Ethereum has also seen a lot of bad apples over the past few months. The prime example of a possible rug-pull has been Uniswap’s clone SushiSwap, which has dropped over 96% since hitting its peak after its launch.
Now in order to bring an end to this current issue and bestow a level of confidence in the DeFi space, YFSwap is bringing forward a new generation of DeFi tokens that will be top versions of Bitcoin and Ethereum.
Entering a partnership with BITTO, a cryptocurrency blockchain company founded in 2017, YFSwap is creating the next batch of DeFi versions of top legacy cryptocurrency such as BTC and ETH. Bitto will also be releasing a dex exchange as an additional utility of YFswap.finance which aims to be an alternative for Sushiswap. YFswap aims to link liquidity between top crypto exchanges such as Huobi, OKB, Binance, by integrating their native tokens as pairings to obtain YFswaps own reward token YFETH. For YFBTC, it is as EOS created DMD.finance, and TRON created Pearl.finance but with YFBTC liquidity pairs primarily BTC related.
YFBTC & YFETH-DeFi version of Bitcoin and Ethereum
While the objective of this project remains to emulate the massive success of Bitcoin and Ethereum as digital assets, the main difference between them remains the limited supply. YFBTC and YFETH will have 1000x times smaller supply with 21,000 YFBTC and 75,000 YFETH.
Since these coins will be following the main assets in Bitcoin and Ethereum, they will follow the mining reward protocol in order to be an improved version in the upcoming trend of DeFi.
Users can support the liquidity of YFBTC and YFETH while gaining rewards for maintaining the pool. Additionally, as mentioned above, Users can also mine YFBTC using Bitcoin and YFETH using Ethereum & stablecoins, making it fair and possible for everyone to start their journey in the DeFi space with BTC and ETH.
YFBTC is also the first yield farming based on BTC. YFBTC is issued in the form of YFI: no founders, no investors, no inflations, and all people are equal. Abanshi Noburu, the developer of YFBTC & YFETH, aims to improve the YFSwap DeFi ecological infrastructure and stimulate the profitability of the entire YFSwap Legacy to the DeFi ecosystem.
YFSWAP will integrate yield farming, staking, and DEX exchange.
Future Dex Exchange distribution is
The fees (0.3%) are distributed partly with YFSwap which will only take 0.045%(15%), whereas the rest of the 0.3% (85%) is shared with the LP provider.
How can the users claim or receive Referral for YFBTC, YFETH?
YFBTC claim is taking place on October 16th to 18th, and is already listed on UniSwap decentralized exchange. Only 5.5% of the tokens are Pre-mined to allow the public to have YFBTC to start LP mining, with 1000 YFBTC provided for claims ( extra will be immediately burned or thrown ) leaving 90.5% left for staking and supporting YFBTC LP.
For YFETH, users can gain using the smart contract, and the YFETH will be sent to their wallets for each referral. In the case of YFETH, 100% of the supply will be claimed, crowdfunded, or obtained via referral. Any remaining YFETH will be burned
Future of YFSwap and YFSwap.Finance
In order to incorporate CEX exchange native tokens in one single platform, YFSwap will be creating a powerful network through a series of DeFi protocols. The network will be created in a decentralized fashion in the future.
YFswap.finance will be fully independent of BITTO once the community is large enough via governance & timelock protocol only to be supported through technical future development. BITTO is also a future licensed cryptocurrency exchange aiming to release its crypto exchange services by year-end.
To learn more about the project, please visit the following website.
Disclaimer: This is a paid post and should not be considered as news/advice.