YFDAI Partners with The Ferrum Network
Over the course of mere months, DeFi has grown to the tune of billions in 2020. Since the beginning of the year we’ve seen capable DeFi projects contribute new and innovative financial services. Since the DeFi space’s inception, there have been countless protocols offering yield farming and lending services. While growth in the space attracts the creation of new protocols, few projects have actually moved pass the realm of yield farming, lending, and borrowing. Despite farming and lending being the primary staples of any DeFi protocol, we feel that innovation breeds true growth of the space. As a testament to that belief, we are excited to announce our partnership with the Ferrum Network.
Partnerships play a vital role as they offer the chance for projects to share ideas, technology, and a shared passion. This is especially true in the cryptocurrency space. Below you will find a brief introduction of these projects for your convenience. Enjoy!
The Ferrum Network is a decentralized, cross-chain platform built on DAG (directed acyclic graph) technology used in a way that links many different blockchains. This technology enables users to interact between different blockchains allowing for new decentralized services and interoperable applications.
One issue all cryptocurrency investors can relate to is the redundancy of buying one cryptocurrency on the Ethereum blockchain and wanting to exchange it for something like Bitcoin, NEO, or Zcash. Because these chains are separate from each other, investors must transfer their coins to a centralized exchange to buy or sell for their desired tokens. Now you can switch between cryptocurrencies with ease as Ferrum’s cross-chain interoperability simplifies this task and removes the middlemen in between.
By combining cross-chain functionality with the high-speed efficiency of DAG technology, Ferrum can offer cross-chain services faster, cheaper, and easier than other exchanges or atomic swap platforms.
Ferrum Network is building a DeFi ecosystem that interoperates across chains and removes barriers to mass adoption. Ferrum’s non-custodial UniFyre Wallet has revolutionized the transfer of crypto with “Link Drop” technology. Ferrum’s Staking-as-a-Service is now used by dozens of projects with millions worth of crypto locked up in its staking smart contract. It’s recently announced multi-token Liquidity Staking will open up endless staking possibilities across the entire industry. Look for Ferrum to launch more ground-breaking DeFi technology throughout 2020 and beyond.
YFDAI is one of DeFi’s newest and most innovative protocols to launch in the cryptocurrency space. YFDAI offers a suite of DeFi services ranging from farming, lending, borrowing, and staking. As a committed DeFi project, security and transparency have always been the core ideologies behind the YFDAI project. As a testament to these principals, YFDAI has been fully audited and certificated by the Blockchain Consilium, a renowned blockchain auditing firm to ensure the highest level of security.
YFDAI is unique in that it doesn’t just function as another DeFi platform, the project instead exists as an entire DeFi ecosystem. The SafeSwap exchange is YFDAI’s answer to the risky minefield environment that is DeFi. In essence, SafeSwap is a fork of Uniswap that will list only projects that have been vetted under a strict criterion ranging from its code, tokenomic system, and product. This, in turn will transform the DeFi space as we know it. Users will finally be able to invest safer than ever before.
YFDAI X Ferrum Network
YF-DAI has already been listed on the Unifyre wallet; this partnership will be expanded to:
YFDAI’s intuitive DeFi protocol and Ferrum Network’s cross-chain capabilities present an exciting opportunity to expand the horizons of decentralized finance. With Ferrum’s cross chain liquidity staking technology, YFDAI users can stake in one token and receive staking rewards in another token. This ability is mirrored in YFDAI’s SafeSwap exchange allowing listed projects to offer staking of their liquidity pool tokens for their own native tokens.
As a part of the partnership, projects that list on YFDAI’s Safe Swap will have fast-track access to Ferrum Network’s revolutionary Liquidity Staking technology. With Liquidity Staking, users can stake one token, and earn rewards in a different token, opening up tremendously possibilities for projects and users alike.
For instance, SafeSwap listed projects will be able to offer staking of their liquidity pool tokens — including the YFDAI LP tokens — and offer rewards in their native tokens, thereby incentivizing and strengthening the YFDAI liquidity pools.
Secondly, YFDAI itself can also offer a new staking structure where users stake YFDAI, but earn rewards in different project’s tokens, a huge value to the entire YFDAI ecosystem.
Finally, Ferrum and YFDAI can offer cross-token staking regimes, where users can stake one project’s tokens and earn rewards in others native tokens.
With Ferrum’s Liquidity Staking, the possibilities for cross-project staking are truly endless!
Together, YFDAI and the Ferrum Network will allow for an exclusive DeFi experience as it merges the compatibilities of YFDAIs DeFi options and SafeSwap exchange with Ferrum Network’s cross-chain capabilities. Coupled with intuitive DeFi services and cross-chain technology, YFDAI and Ferrum are poised to unlock new possibilities in the DeFi space.
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