TrustSwap, a full-service digital asset service platform, has started Hosted IDO Launched Yieldly, a DeFi solution built on the Algorand blockchain.
Yieldly’s bridge products and AMM/DEX are expected to open the Algorand ecosystem for many use cases. This includes yield agriculture, NFT distribution and social reward systems. Their partners include Borderless Capital, Longhash Capital and CMS Holdings.
The high-yield DeFi ecosystem contains four basic pillars
- Yieldly’s specially built smart contract allows developers of ASA tokens (Algorand standard assets equivalent to ERC-20 on Ethereum) to easily create Shares and incentive system Above Algorand.
- Yieldly built the first Lossless Lottery The aim is to utilize Algorand’s reward system and aggregate rewards and distribute them to users. Similar to the respective ecosystems of PankcakeSwap and PoolTogether; Yieldly’s lossless lottery will release Algorand’s deep liquidity.
- Yieldly hopes to make it easy for anyone to access Algorand and experience the many benefits of the DeFi protocol.To this end, Yieldly established a A token bridge between Ethereum and ASA tokens. Yieldly will build more bridges to expand the avenues of any ASA native token holder.
- Finally, once the smart contract enables users to establish a mortgage and reward system, and opens the way for more liquidity to flow into the Algorand ecosystem; Automatic market maker (Also known as decentralized exchange or DEX).
Trading/holding funds on the Algorand network
In order to trade on the Algorand network and access Yieldly’s YLDY tokens, an Algorand wallet funded by ALGO will be required as a transaction fee.High-yield investors can hold their YLDY tokens in it MyAlgoWallet, Is the official wallet of Yieldly.
MyAlgoWallet is an Algorand blockchain wallet that provides automatic ALGO staking and has private key access to YLDY and others and so (Algorand standard assets, equivalent to ERC-20 on Ethereum) tokens.
Sending money on Algorand is very cheap. Therefore, the cost of simple smart contract functions (such as “funds”) is about 0.001 ALGO.Because Algorand’s transaction throughput exceeds 1000 transactions per second, and the blocking time is only 5 seconds; transactions are confirmed in real time AlgoExplorer.
Algorand Blockchain Provide users with instant transaction certainty. In addition, unlike previous implementations based on proof of work, Algorand requires only a negligible amount of calculation; the transaction history generated by the plus sign will not “fork” with a very high probability (one in a trillion).