Decentralized Finance (DeFi) was one of the biggest success stories to come out of the crypto universe last year, primarily because of the ease of use, the opportunity to earn passive income without selling their token, and the truly decentralized nature of the ecosystem. However, the popularity of the DeFi ecosystem has attracted a lot of security breaches, hacks, and exit scams.
The popularity of DeFi gave any new project instant liquidity in millions and as a result, they used to drain out all the money in weeks and in some cases the very next second after getting listed. Over the past 12 months especially throughout 2020, there was nearly one exit scam every month and in some months even 4. Thus, along with ease of use and surging popularity DeFi space really needs to reinforce the security and have better gatekeepers and launchpads to ensure a thorough background check to ensure security to investors.
This is where YearnSecure (YSEC) comes into the picture, a coming-of-age DEX launchpad that has evolved over time to become an all-in-one platform for project development and launch.
How YSEC Works
YSEC, the coming of age Initial DEX Offering launchpad promises a new and secure way to launch and develop DeFi projects. A goal YSEC holds in high regards, is to make DeFi a safer space for investors.
Developers can use their platform to set up their presales and will have the opportunity to customize it to their needs. One can, for example, add team, development, and marketing allocations and decide whether this allocation should be locked, unlocked, or have a time-lock (releasing an X-amount of tokens each month). Setting up a presale contract will also require the developer to decide on the liquidity that will be added and locked on Uniswap and needs to allocate both the ether / bnb and the token part to be able to continue. Investors will be able to see all published presale contracts as well as the tokenomics set within. This means that the platform offers full transparency to everyone.
After a successful presale, a trading pair will be automatically created on Uniswap or Pancakeswap (future chains to be integrated). Creators can choose to either burn or lock the Liquidity tokens retrieved as a result of the trade pair set-up.
YSEC will never own any of the assets locked within their smart contracts. Once published, investors will be able to see when and which projects are having their presale as well as how the tokenomics of that specific project are organized. Token holders can stake their YSEC in the YSEC Yield Farm to earn 50% of the fees that will be added after the presale has ended.
In addition, the launchpad will be armed with an integrated automated auditing tool that will check on exploiting possibilities and functions such as Mint, or trading/sending exclusion for token holders. This tool will be going into development after YSEC has branched towards a few other networks.
YSEC’s BSC Integration Make it The Perfect Choice for DeFi Developers
The launchpad has also integrated BSC cross-chain support along with Ethereum network support, thus a developer can launch their product on either the BSC chain or ETH chain. The main dashboard for the IDO launchpad has been developed keeping in mind transparency and ease of use.
When a DEX project is listed on YSEC launchpad, all settings are transparent and visible so investors can be certain that everything set within the IDO form will be executed accordingly. IDO Listings are autonomously deployed via their smart contract to ensure security for clients as well as investors. YSEC holds security and transparency in high regard.
YSEC was originally meant to become the one-stop shop for just a projects IDO. But it has been working towards becoming a one-stop-shop for all project needs. Projects that launch through YSEC will have the opportunity to pitch their project to the KOL network. Through this private Telegram channel, YSEC aims to streamline Public Relations, Marketing, Advisory and Strategic Partnership connections between project leaders and well known KOLs within the DeFi community. Use of their KOL group is without obligation, but highly recommended. The first project launching through YSEC is Coxena.
Most platforms require user to purchase native tokens in order to participate in pre-sale allocations. YSEC is unique in that it connects users directly to pre-sale offerings thus subverting the need for an intermediary. Within their platform, YSEC tokens are stakable. There will be staking pools where staking YSEC will lead to a reward in YSEC, but the most valued staking pool is in the Yield Dashboard. Token holders can stake YSEC and will be rewarded in ETH for each IDO launched through YSEC.
The source of value is tokenized within the YSEC token, a micro-economy is built that aligns with participating individuals’ incentives with the goal of growth, passive income, and the YSEC ecosystem.
The total supply of YSEC has been capped at 1.000.000 tokens which have been allocated for various purposes on the platform with the following allocations,
- LID 10.000: LID tokens were a fee for LID as part of providing their own IDO.
- Farming 200.000: Farming tokens are locked and will be released at a rate of 10% per month.
- Presale 300.000: All presale tokens were distributed in the presale.
- Uniswap Liquidity 197.000: Liquidity tokens and 75% of raised ETH was used for liquidity on Uniswap.
- Team 100.000: Team tokens are locked and will be released at a rate of 10% per month.
- Marketing 193.000: Marketing tokens are locked and will be released at a rate of 10% per month.
You can follow the official channel of the platform for further details :
Website : https://ysec.finance/
Telegram : https://t.me/YearnSecure
YSEC Dashboard : https://app.ysec.finance/
Twitter : https://twitter.com/YearnSecure