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Yield is a fixed-rate DeFi lending app. Lending and borrowing on the platform is individualized meaning deposits aren't pooled and earnings are never diluted. Lenders earn fixed interest rates while borrowers earn YLD, the native token, for every loan that they repay.
Yield (YLD) is a standard ERC-20 token with minting and burning functionality. Borrowers can earn up to 350 YLD with every loan they repay. Lenders and borrowers that stake a certain amount of YLD are also entitled to discounts on platform fees and lower loan liquidation ratios. All fees on the platform are used to buy back YLD from the open market and burn it.
Non-Custodial wallet, such as MetaMask, Portis, Trust Wallet and others. If you don't have one, download either one of the wallet apps mentioned above and move any assets you want to borrow/lend with over. Coinbase Wallet and Ledger Mobile are known to have connection issues on mobile. If they are your main mobile wallet and you experience issues connecting, please try switching to a different wallet app.
Yield is capable of using any token that has a Chainlink oracle price feed. At this time, there are over 30 tokens available.
No. There is no startup, VC, company, or some-such entity behind Yield, just a ragtag community of some the earliest Elix backers, and others that joined along the way, that didn't want to see a good idea go to waste.
YLD has a dynamic supply:
- Tokens are minted when borrowers successfully repay their loans causing the overall supply to increase
- Tokens are burned when fees are used to buy back and burn tokens causing the overall supply to decrease
How to stake in the Garden
How to stake in Onsen
YLD is not a farming token. However, Yield has created a Liquidity mining rewards program through The Garden and Onsen to reward individuals willing to provide liquidity. The Garden is designed to provide liquidity mining rewards in the form of YLD.
It's a community pseudo-fork of a project from 2017 that never got launched. A pseudo-fork because the project, Elixir (ELIX), didn't have any actual open-source code to fork so it had to be built from scratch. Elixir never launched because, despite (or perhaps because of) its noble beginnings, it was too far ahead of its time for DeFi to catch on and later lost its way. There is no startup, VC, company, or some-such behind Yield, just a community of some the earliest Elix backers, and others that joined along the way, that didn't want to see a good idea go to waste. A pseudonymous entity known as Coiner_ is at the forefront of this effort