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23.05.2021, 10:29 | #1 |
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Algorand-powered DeFi solution Yieldly hosting IDO on TrustSwap Launchpad
TrustSwap, a full-service digital asset services platform, has begun hosting the IDO for the launch of Yieldly, a DeFi solution built on top of the Algorand blockchain. Yieldly’s bridge products and AMM/DEX are expected to open the Algorand ecosystem for many use-cases. This includes yield farming, NFT distribution, and social reward systems. Their partners include Borderless Capital, Longhash Capital, and CMS Holdings. The Yieldly DeFi Ecosystem Comprises Four Foundational Pillars
To trade on the Algorand network and access Yieldly’s YLDY tokens, one will need an Algorand wallet funded with ALGO for transaction fees. Yieldly investors can hold their YLDY tokens inside MyAlgoWallet, the official wallet for Yieldly. MyAlgoWallet is an Algorand blockchain wallet offering automatic ALGO staking and holds private key access to YLDY and other ASA (Algorand Standard Assets, comparable to ERC-20 on Ethereum) tokens. Sending funds across Algorand is extremely cheap. Accordingly, the fee for a simple smart contract function such as ‘send funds’ is around 0.001 ALGO. Due to Algorand’s transaction throughput of over 1000 transactions per second with a block time of only 5 seconds; the transaction gets confirmed near instantly on the AlgoExplorer. Algorand The Algorand blockchain offers users immediate transaction finality. Also, unlike prior implementations based on Proof-of-Work, Algorand requires only a negligible amount of computation; plus generates a transaction history that will not ‘fork’ with overwhelmingly high probability (one in a trillion). Source: yieldly.finance |