Recently we announced a new product in YFDAI’s fleet of products and services, SafeTrade, YFDAI’s new premier trading bot service.
We now announce the opening of the SafeTrade Staking Vault for users to deposit their YFDAI into and hold for the 60 day period in order to receive an NFT that will provide Bot leasing discounts on the Stacked Invest 3rd party portal which hosts the YFDAI bots.
You can access the Vault here and the 60 days countdown starts today. http://Safetrade.yfdai.finance
Users will have access to their own personal account on Stacked Invest where they’ll have full control of their funds and can track each and every trade. This service also allows users to enter and exit their funds anytime during their trading campaign. This flexibility provides a seamless and stress free trading experience with our strategic partnership with Stacked Invest.
Stacked Invest is an automated cryptocurrency investment platform that allows you to lease trading bots and connect your long-term holdings to pre-built portfolios.
By linking your existing exchange accounts with Stacked, you get a holistic picture of your holdings and the ability to monitor your different investment vehicles made accessible by the platform.
SafeTrade By YFDAI
SafeTrade offers an excellent opportunity to add an extra passive income stream to your existing portfolio positions. It utilizes various trading strategies to provide you with a stream of residual income.
For starters, YFDAI will launch 2 trading algorithms on the Stacked Invest platform: SafeTrade ETH and Safe Trade BTC. Both will be available to all YFDAI holders alongside the thousands already using Stacked Invest. Trades are carried out by connecting to your own exchange account via their APIs. This means neither YFDAI or Stacked Invest has access to your funds, giving you complete control at all times.
The monthly cost on Stacked Invest will be $350 per month for access to both the YFDAI ETH & BTC algorithm and will be available to YFDAI holders and the general public.
To receive a discount on these fees, all users (Including Stacked Invest users) will be able to deposit YF-DAI in the Vault for a minimum of 60 days before trading starts. This Vault will be locked for 60 days and will also pay 6% a month interest for 60 days from Vault opening only, or until the total rewards allocated have been depleted.
Please note that the rewards for this Vault will be a maximum of 166 YF-DAI tokens. The 166 YF-DAI tokens are the remaining balance of rewards that were allocated to the old Staking contract that is now closed.
Once the 60 day minimum staking period is completed, you will be awarded an NFT which will provide the following discounts as long as the YF-DAI remains staked.
Stake 3 YF-DAI receive a 80% discount — (Saving $3,360 per year)
Stake 2 YF-DAI receive a 60% discount — (Saving $2,520 per year)
Stake 1 YF-DAI receive a 40% discount — (Saving $1,680 per year)
Stake 0.5 YF-DAI receive a 20% discount — (Saving $840 per year)
The NFT will have a resale value linked to the yearly discount on fees. Those who hold the NFT can either receive the ongoing discounts, or they can sell the NFT on to other users on the YFDAI marketplace who are seeking to enter the trading Bot’s with a discount but do not want to wait 60 days.
The 60 day minimum staking period is designed to enable you to follow the Algorithms performance on Stackedinvest.com where you will receive a detailed breakdown of all trades. This will allow users to review the results and see if Stacked Invest and the YFDAI trading bots are right for them. The integration of the Bot is now completed and results will be visible to the public in roughly 25 days time and will be open for subscriptions in 60 days time.
While the trading bot has shown great success in a number of trades and extended Backtesting, the risks of trading and investing still apply. Returns and profits are always variable and are not guaranteed. Both bots are expected to provide average monthly returns in excess of 10% a month (Growth of BTC/ETH/Stable Coin) with very low Drawdown and low risk per trade.
The Vault is now open and trading will commence 60 days from now. http://Safetrade.yfdai.finance
The process to set up an account is very easy. Simply open an account at any of the approved Stackedinvest exchanges, add your funds to be traded (not YF-DAI, usually BTC, ETH, Stable coins) and create an API and link this to Stacked Invest.
There are 2 sources of revenue from the trading bot that will come to YFDAI. The first is a share of the bot leasing fee, and the second is a referral fee from the platform.
We understand there will be many questions and more details will be released prior to the release of the Bot’s. As ever transparency and user security is key hence why we would prefer the real live results over the next 60 days be used for users of SafeTrade to base their decisions on.
Final release will be subject to performance during the 60 day live testing.
SafeTrade is yet another service that will be added to YFDAI’s existing suite of DeFi services and tools. It exists within the protocol as a way to give users access to an additional income stream while also following the burning mechanics of the YFDAI protocol. Providing a multitude of tools and services for the YFDAI community is our goal.
We hope you enjoy SafeTrade and all future services that will be coming to YFDAI.
Visit us on our website and chat with us on Telegram!