DeFi Yield Protocol Launched on Ethereum Mainnet

A project of decentralized financing was launched on the main network of the Ethereum (DeFi) Yield Protocol, The main feature of which was a fixed percentage of loans.

At the moment, Yield Protocol remains in the status of beta, But the developers emphasize, what the project fully operational and functional. According to the founder of the startup Allan Nimerg (Allan Niemerg), Popular Maker and Compound lending projects offer floating rates for loans. Fixed rates are more convenient for those, that users are much easier and more convenient to plan future actions, Revenues and expenses.

According to Nimerg, As part of the development of Yield Protocol, the “New Basic primitive Defi” Fydai was created (fixed yield Dai). These are ERC-20 standard tokens, which have become an analogue of bastard bonds from the sphere of traditional finance. For such bonds, interest is not paid, but before the deadline, you can buy them cheaper. Fydai tokens make it possible to lend with a fixed rate in the Defi industry.

Already, users can invest their DAI coins in the “automatic liquidity supplier” and make a profit. Besides, users are also available at a fixed rate, Eating in ETH. Expected, that Yield Protocol will leave the beta testing phase in early November. Although the smart contracts of the project took an audit, Nimerg emphasized, that Yield Protocol is still in the testing phase.

“We expect, that unforeseen situations may arise, when users will use the project for unexpected purposes. We have no way to control or prevent the use of smart contracts for other purposes ", - It is noted in the article on the project blog.

In September, Coingecko conducted a study, According to which 40% Farming participants in Defi cannot independently evaluate the risks of smart contracts.

Source