Breaking

Sunday, September 13, 2020

YEARN FINANCE PRESENTS NEW INNOVATIONS IN THE FORM OF STABLECREDIT

 



The DeFi Yearn Finance protocol announced a new loan protkol referred to as StableCredit. 


StableCredit itself will then combine stablecoin debt that has been credited, loans, and Auto Market Maker Single-Side. This step was taken to create a fully decentralized lending protocol. 


Later users will be able to store certain coins and print StableCredit with a ratio of up to 75% which can then be exchanged for other crypto assets.

For example, a user saves a USD coin (USDC) and prints StableCredit USD at a ratio of 75% and is then exchanged for another crypto asset. To release this locked USDC, the user must re-deposit the borrowed Usd StableCredit into the protocol.

In addition, the release of the report announced stablecredit's user interface is already in the final stages of development and is expected to be released publicly in the coming weeks.

This protocol will not distribute governance tokens to its users. This strategy is done to make users focus more on their paltform than by simply collecting YFI governance tokens. 

The price of YFI tokens themselves has continued to increase since its listing went public. Its value even beats the value of Bitcoin and is currently in the range of 33,000 USD or 3 times the current btc price. 

The popularity of Yearn Finance also continues to increase especially this protocol always makes the latest innovations with the promise of high returns and low transaction costs. Moreover, YFI tokens will be included in coinbase pro list starting September 14. 

No comments:

Post a Comment