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YFDAI Joins the Crypto Investor’s Alliance C.I.P.A

Since the beginning, YFDAI has pledged its full commitment to bringing trust, transparency, and security to the DeFi and crypto spaces. Today is a particularly special day as we have officially become a member of the Crypto Investor’s Protection Alliance (C.I.P.A).

For far too long, scams, corrupt actors, and deceit has plagued the cryptocurrency space leading to millions of dollars worth of damages every year. These dishonest practices have naturally crept into the DeFi space and have already become a regular phenomenon despite DeFi’s newfound popularity. Detractors would see DeFi as a wilderness that must be tamed with regulations and KYC requirements, those who champion decentralization however know this is not the direction DeFi should follow.

An ideal decentralized system is a system that is fair and maintains an ideal balance of security and decentralization. This belief however begs the question, “Can decentralization and security in DeFi truly coexist without a third party intermediary?” If you ask YFDAI and CIPA, the answer is a resounding YES!

The Crypto Investor’s Protection Alliance

The Crypto Investor’s Protection Alliance, or “CIPA” is a culmination of different DeFi related projects who’s ethos is to create a safe heaven for investors and blockchain projects alike while maintaining the vision of trust, security, and decentralization.

Behind CIPA are some of the most innovative projects in the DeFi space, each carrying an array of exclusive services that aim to uphold the highest level of protection and decentralization in crypto. Below is a brief introduction of the projects and services CIPA plans to offer.

FORESIGHT

While the DeFi space continues to reach new levels of innovation, the high number of scams, smart contract bugs, and unethical practices add a considerable level of risk to all DeFi investors. Foresight, a DAO governed cryptocurrency insurance project understands that even the most seasoned cryptocurrency investors can get caught in scams or hacks. Traditionally, insurance solutions only covered institutional investors and cryptocurrency exchanges, Foresight however protects the everyday crypto investor.

Foresight prides itself on being flexible. Instead of locking users in a contract for long periods of time, Foresight covers investors for the short and medium term time frames. Some of the coverages investors can expect include:

  1. Exit scams
  2. Malicious blockchain disruptions
  3. Hacks
  4. Project abandonment

The Foresight coverages don’t stop at the investor, new crypto and DeFi projects can also take advantage of Foresight insurance through its Project Funded Insurance (PFI) program. The PFI program is intended for new projects wishing to build an extra layer of trust and security on their token sale. A new project for example could complete an audit and cover the first 500 of its investors under the PFI coverage solution as a gesture of trust and security.

As a project who’s services seek to protect the everyday crypto investor, Foresight brings an amazing service to the CIPA alliance and will continue to play a pivotal role in the DeFi space.

Anti Scam Token

Anti Scam Token is a community driven project that aims to educate the masses on crypto scams while helping to create a safe DeFi ecosystem.

What makes Anti Scam Token unique is that it doubles as both an education and scam vetting platform. The project has a variety of content available on their platform to teach anyone in the community how to spot scams. To judge whether or not a project has bad intentions, the Anti Scam project audits their code and incorporates an incentivized community driven method of vetting the audited project. The benefits of having a community effort behind the vetting process is that scrutiny will come from many different perspectives. This system naturally takes a democratic approach to achieve a fair consensus. Lastly, one of the requirements to be audited is that a project must submit tokens as collateral. A project who fails the assessment automatically forfeits their collateral. The vetting process alone is a powerful gesture that will ether naturally dissuade scam projects from applying or grant a high level of prestige to those that pass the vetting process with a seal of approval.

Being able to put the community at the forefront of the vetting process epitomizes many of the core principals behind the emergence of the cryptocurrency space and decentralization. The Anti Scan Token project a perfect member of CIPA as it upholds the core values of what Satoshi Nakamoto and the cryptocurrency space envisioned for a new decentralized world.

DEXTools

Despite being a newer project, DEXTools has already earned itself the title of being the ultimate primary trading tool for the DeFi space. Built on top of the most popular decentralized exchanges like Uniswap, the DEXTools platform offers users industry leading trading tools putting them at a tremendous advantage over other traders. Currently, DEXTools offers Trading View charts, live price readings, whale alerts, bot activity, new pool/pair listings and large transaction tracking.

Premium trading tools aren’t the only features that make DEXTools the ultimate DeFi trading platform. Within the platform, DEXTools uses an algorithm which grants projects on a decentralized exchange a “DEXT score” that measures the authenticity of a project. Naturally, it may take some newer projects time to develop a transaction history to gauge certain parameters of the algorithm. Projects who have honest trade history and token holding behavior will see an increased score on certain aspects of their DEXT score.

Being a DEXTools user means you also have access to the quickest price and trade happenings as the platform is updated through its own Ethereum node. Because of this, DEXTools users are the first to see any market feedback before anyone else.

It goes without saying that DEXTools is the industry leader behind the DeFi marketplace. Its assortment of tools and features enables users to have the best trading tools available with content exclusive only through DEXTools. This of course is a perfect asset to the CIPA alliance.

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YFDAI

YFDAI is a DeFi project which doubles as a protocol and ecosystem that manifests the vision of decentralized finance by offering DeFi services to anyone with little more than an internet connection. The YFDAI project offers a plethora of DeFi services and is dedicated to upholding the highest level of security and transparency thanks to its audited protocol and robust tokenomic structure.

YFDAI offers a diverse suite of DeFi services ranging from sustainable farming, staking, borrowing, and lending. The myriad of features YFDAI supports is tailored in a way that makes using DeFi services safe and simple for anyone at any level of experience. While the DeFi features that YFDAI presents are numerous, what truly sets it apart is its LaunchPad incubator service and SafeSwap exchange.

How SafeSwap Exchange Will Change The Way We Do DeFi

A fork of Uniswap, the SafeSwap decentralized exchange is an initiative aimed at making DeFi trading simple and secure by only listing audited projects that meet strict criteria in quality, security, and transparency. To qualify for consideration into the exchange projects must Pre-lock tokens, Pre-lock liquidity, and pass protocol contract audits. Through this rigorous listing criteria, YFDAI can help ensure the safest trading environment possible in DeFi.

YFDAI and CIPA

Since its inception, YFDAI believes that leading by example is the first step in creating a safer DeFi environment that works for all. Every aspect of YFDAI is crafted to bring the best DeFi experience possible to all investors regardless of their experience level. While setting a positive example is the first step in improving the environment of DeFi, a more proactive approach must be taken to lead the space to its highest potential. That is exactly why YFDAI joined the CIPA alliance.

Because SafeSwap offers the safest exchange platform for the DeFi space, it has been agreed that it will become the official cryptocurrency exchange of the CIPA alliance as it achieves the best possible DeFi marketplace ecosystem.

With YFDAI’s Launchpad incubator and SafeSwap exchange, CIPA can construct an unmatched DeFi experience complete with insurance coverage, premium trading tools, and DeFi services. With added levels of security, transparency, and trust, YFDAI and CIPA will maximize the highest potential possible for the DeFi space.

Need More Info on YFDAI? Check Below!

Website

https://www.yfdai.finance

Telegram Community

https://t.me/yfdaifinance

Telegram Announcements
https://t.me/yfdai

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