Yield Bank Just Raised the Bar In DeFi
There have been some amazing innovations in the DeFi (decentralized finance) space over the past few months. This rapid proliferation has led to a strong need for secure, feature-rich platforms for users. Many existing platforms have short-comings- for instance, Aave has high gas fees and only allows users to participate in lending with a small subset of the industry’s tokens, and Uniswap’s LP tokens are relatively useless outside the platform. These problems, along with many others, are a growing concern and must be solved for institutional players to get involved in the crypto space. The solution is Yield Bank.
Yield Bank is a blue chip DeFi protocol similar to Maker DAO, or AAVE but is an all-inclusive decentralized finance bank that offers everything users need in one single platform. First, users will notice the ability to use their LP tokens as collateral to take out loans through their Liquid Lend product. This allows users to remain in their liquidity position while gaining appreciation of their LP token and the ability to access that cash to hedge in other investments. This also will allow for access to locked liquidity in pools that do not allow withdrawing. There are also Vaults. Vaults are a way for users to earn interest on their cryptocurrency through the implementation of various automatic trading strategies, vaults are fairly common in DeFi, but Yield Bank has implemented AI style trading strategy, by being plugged into every protocol in DeFi via adapters, Yield Bank has implemented Predict Sense AI technology from WinJit to constantly read these protocols and determine which is returning the best yields for the day the strategies are sure to perform in any market conditions. Auto-compounding will also be a feature, which will allow users to immediately reinvest their earnings and earn compound interest automatically, just by simply enabling the feature in the UI.
DeFi Future trading and LP market trading will also be a focus of Yield Bank. With DeFi Futures trading running on a L2 solution, settlement will be extremely fast. yGasSaver is Yield Bank’s solution to high gas fees and works to save the user on gas by combining transactions together. Lastly, account numbers will allow for easy identification of user’s wallets, and in-house wallet creation will allow for easy onboarding of users, this IAP system will allow logging of every transaction in our platform providing a simple interface to track all of your DeFi profits, allocation, fees, and more then export with a click to a PDF.
Yield Bank has also created an innovative two-token system with its tokens yB and yCash. Both tokens feature buy-back and burn mechanisms that will benefit holders by supporting the price of the token. A tax will also be implemented that will vary based on the rate of sale of the tokens on Uniswap, which will limit volatility and encourage users to hold their tokens for longer periods of time.
In a field where DeFi products are feature-lacking and unrefined, Yield Bank is a refreshing development that provides users with all the necessary features for mass user adoption of DeFi. Yield Bank’s full platform will provide a complete alternative to central banking, allowing users to connect peer-to-peer via an entirely decentralized protocol that enables both lender and borrower to obtain yields. With their Liquidity Episode live now, we look forward to watching this project as new features go live over the next few weeks.