Thanks to its rapid popularization and acceptance, DeFi has proven itself to be among one of the prime asset classes in the cryptocurrency space. While new innovations such as yield farming have now become a staple for virtually all DeFi projects, protocols still largely lack the capability needed to truly stand out and remain as viable options. In a sense, many farming protocols are limited to only the basics in DeFi, their absolute short term emphasis on farming stagnates the innovation needed to truly take DeFi to new levels. For DeFi to truly flourish, protocols need to not only innovate but take actions to ensure their relevancy over the long term. Legal compliance and Licensing is a step in the right direction for the YFDAI ecosystem.
Today is an exciting day as YFDAI will be among the first to manifest the long term vision of DeFi and set a precedent for the entire space. We are pleased to confirm that YFDAI is now in possession of the Estonian Exchange and Wallet license!
YFDAI has obtained all the necessary licensing by purchasing The Private Limited Company Silk Trader.
Name-Silk Trader OÜ
Address-Harju Maakond,Viimsi vald ,Miiduranna Küla,Miiduranna tee 46 , 74015
Legal Form-Private Limited Company
Field of Activity-Virtual Currency Service
Type of activity-Virtual Currency Exchange Service, Virtual currency wallet service
Commencement of validity-11.05.2020
Expiry-Without a time limit
Date of decision-11.05.2020
Issuer of the permit-Police and Border Guard Board
After this thorough process, all agreements have finally been completed. The final transfer of ownership is underway and will be completed shortly subject to the new Covid-19 travel restrictions. As per the agreement, YFDAI has acquired all rights pertaining to the licenses held by Silk Trader and they can now be utilized by YFDAI.
DeFi is expected to increase massively in both popularity and total value locked within the coming crypto cycles. With the addition of these licenses, YFDAI is poised to lead the way in DeFi and charge to new highs and uncover new possibilities never before realized with any other DeFi protocol. Get ready to embark on this new frontier in DeFi with YFDAI Finance.
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