On 20th October 2020, crypto exchange BiKi.com will be listing CoinMarketCap’s Top 5 trending project, YFIII. As a software fork of yearn.finance (YFI) in development, DiFy.Finance is focused on mobile platform compatibility.
Like YFI, which is the platform it is based on, DiFy.Finance is an environment of DeFi (decentralized finance) lending aggregators. Users can provide liquidity for the ecosystem by parking their crypto tokens in a smart contract vault. They then earn interest in return.
Its current Automated Pool (with YFIII Rewards) is for DAI Stable Coin.
What Makes DiFy.Finance Unique?
Part of the larger trend of DeFi, DiFy.Finance belongs to an industry that is focused on building decentralized financial instruments on top of existing smart-contract enabled cryptocurrencies. These financial instruments include cryptocurrency lending, insurance, decentralized exchanges and other use cases.
Specifically an aggregator of cryptocurrency lending platforms, DiFy.Finance is similar to yearn.finance, the platform from which it was forked. It allows users to deposit their crypto tokens, which are then converted into yTokens — on-blockchain obligations secured by collateral in a different cryptocurrency. The yTokens are then automatically parked in different DeFi lending services to maximize the lenders’ profits (in the form of interest).
Both YFIII’s unique advantage and the reason for forking away from YFI, are so as to provide a more optimized crypto lending experience for mobile platforms.
Limited to 30,000 tokens, YFIII’s maximum supply is set to be distributed openly among the ecosystem’s direct participants with no pre-sale or ICO stage. The team behind the YFIII project maintain that none of the YFIII tokens have been pre-allocated to team members. Since its initial listing, YFIII has seen a 64 percent increase in value and the pace does not look like it is slowing down.
DiFy.Finance (YFIII) Token:
The YFIII (DiFy.Finance token) is the proprietary token of the DiFy.Finance Management ecosystem. Thanks to this ecosystem, DiFy.Finance allows processing transactions as an exchange token, and also allows P2P exchange and value transfer.
DiFy.Finance — Farm:
DiFy.Finance — Farm facilitates crypto holders to pool their assets together in order to provide a large pool of liquidity for anyone who wants to exchange this asset. In return, the holders receive lucrative rewards straight into their wallets.
DiFy.Finance — Stake:
A modern platform, Stake lets DiFy.Finance and YFIII token holders store their assets in a specially designed contract. The storage percentage is set automatically and depends on the price of the underlying assets and the number of assets in the pool.
DiFy.Finance — Borrow :
DiFy.Finance ecosystem facilitates borrowing — You can borrow assets in an over-collateralized (perpetual) way, selecting USDT (Tether), Ethereum (ETH) or DAI. You earn YFIII as a reward for using the protocol.
DiFy.Finance — Vote :
DiFy.Finance — A decentralized platform, Vote enables the community to perform on-chain voting. All of the voting data is recorded on the blockchain which acts as a decentralized, immutable ledger. This leaves no place for bureaucratic manipulation or rigging.
DiFy.Finance — Vault :
DiFy.Finance — A protocol that automates yield farming, Vault uses AI and BigData to look for innovative farming strategies. The objective is to bring maximum yield to the community.
One-Stop Platform: It is a one-stop platform for all types of DeFi products.
Decentralized Governance: DiFy.Finance Management offers a decentralized business model with deployment on the blockchain and tokenization enabled.
Stake: It uses a unique strategy to calculate the stake percentage.
Tokenization: Using the native YFIII Token, it enables businesses to tokenize their businesses.
Security: All DiFy.Finance Management ecosystem transactions are secured by smart contracts.
Token Utility: YFIII Token has native utility. This is derived from acceptance of the token in all of the products and services within the DiFy.Finance Management Ecosystem.
Unique and futuristic: The innovative products offered by DiFy.Finance Management and its business model.
Liquidity offered: Liquidity of the token is offered through swapping and exchange listing.
Problems that DiFy.Finance solves
- Security issues in finance are tackled by a decentralized blockchain-based financial model
- Role of centralized entities are removed through dis intermediation as well as smart contracts -based decision-making.
- Tackles manipulation by controlling authorities and single point-of-failure issues.
- Decentralized governance and distributed architecture
- Offers liquidity in trading activities through instant swapping and decentralized market making.