Yieldification- Tokenize Every DeFi Transaction

NFT is probably no stranger to Web3 investors. Use copyright in music, fashion, proprietary items in games, tickets, applications in the supply chain, Metaverse, etc. However, with so many use cases, who would have thought of doing it? using NFT in decentralized finance (DeFi)?

Yieldification is a pioneer project and has done just that, turning every transactional interaction on the platform into tradable NFTs. Built on Ethereum, Yeildification also brings most of the innovations typical DEXs to have today.

The price of the project's token, $YDF, has increased 6x since it was listed just two months ago. This shows that the community has been paying attention to this project recently.

Token price $YDF

What is the reason for this?

Overview

Yieldification is a decentralized exchange on Ethereum. Sustainability is built with the mechanism to generate application NFTs (NFT Utility) when participating in project token-related activities.

Features that make Yieldification different

Phenomenal staking mechanism

After staking, instead of receiving staked tokens like other protocols, Yieldification users receive a staking bill in the form of a regular NFT, completely valid tradable on Opensea.

More specifically, when a user stakes a project token of $YDF or a liquidity provider (slYDF), they will receive an NFT that carries all the attributes of the staking contract. These NFTs hold the value of staking and are tradable on Opensea or other markets just like regular NFTs.

The nature of NFT trading is an exchange between two parties, so with NFT staking trading, a large amount of staked tokens can be bought or sold without affecting the token price. Early investment whales can resell their stakes to those who need them while keeping their value while avoiding a sharp release that causes the token price to drop.

This is a very smart way to keep TVL for the protocol with little concern about the possibility of early withdrawal and liquidation.

Users do not need to unstake to be able to sell tokens. This will help them avoid unstake fees, loss of profit generated, and the risk of additional penalty fees. These NFT stakings can be used as collateral to borrow assets, giving users more flexibility with their staked assets and easy liquidity when trading on the NFT platform.

Yieldification also uses 5% of the total supply using them to maintain staker rewards and protocol sustainability.

Special Tokenomic

Half of the project's $YDF tokens are used to provide liquidity to Uniswap. Teams and Advisors get 15%. A significant amount of tokens, equivalent to 15% of the total supply, will be burned directly.

$YDF is burned when profit-generating utilities are used, and fees are earned from the above operations. In short, when a user unstakes NFT staking, the new amount of $YDF, along with interest, will be minted immediately. Also, those $YDF tokens will be burned immediately when they stake tokens.

This mechanism helps the protocol understand its emissions and profits, thereby adjusting APY to attract users while maintaining high stability.

The number of tokens still vesting currently accounts for only about 7.5%. Because the project has only just announced the tokenomic, this amount of tokens will not affect the market in the immediate future.

Tokenization of Future Trading

makes everything, and futures contracts are no exception. When participating in Future trading, the user who executes an order converts his futures contract into NFT and can be traded like a regular NFT. This is a unique mechanism that, currently, Yieldification is the first project to apply.

This DEX supports Future trading with up to 50x leverage, an impressive number for a decentralized exchange. Although not as good as decentralized exchanges like PancakeSwap with 100x or MDEX with 200x leverage, 50x is not a small number for most investors.

Real Yield

Simply explained, the project with RealYield mechanism will deduct part of its revenue, redeem tokens and reward users. In the long term, this may be the future when this helps increase the purchasing power of the project, and at the same time encourages users to participate in related activities.

Similar to Yieldification, the project will pay $ETH rewards to staking. This amount is periodically paid by the project Treasury, and is also derived from and from the protocol's taxes and fees.

Why is $YDF volatile lately?

Protocol Expansion to Blockchain Arbitrum

Leveraging the advantages of Arbitrum for DeFi with low gas fees, reduced waiting times and innovative steps in perpetual futures trading, Yieldification has officially launched its protocol on this platform.

This is really promising news, with Arbitrum being a layer 2 with many recent achievements and activities such as Hackathon, Devcon, etc. This will help Yieldification attract more users and capital to build. project development

Reacting to this information, the price of the $YDF token increased by 18% on the day of the news release (October 15)

YDF token price on October 15 The

$YDF token was released list of MEXC exchanges

On October 13, centralized exchange MEXC officially lists YDF/USDT trading pairs on the exchange

Announces a list of YDF/USDT pairs on MEXC on October 13

The price of the previous $YDF token increased by about 30% since From the old bottom, the trading volume also tended to increase strongly at that time.

YDF Token Price October 12 to October 13

On-chain Analysis

• The amount of staked YDF tokens has steadily increased over the past 2 months, including Smart Money and Whale.
• Most tokens are traded on the Uniswap exchange, but after going on the Mex exchange, there is a large amount of tokens transferred to the exchange.

First, looking at the smart contract Staking wallet of Yieldification, we see that the balance is increasing again from the beginning of September so far, from 180 million to 223 million. Last week alone, 1.7 million YDF were staked.

Currently, staked tokens account for 49% of the total supply.

To be more specific, a wallet named handsofstone.eth continuously buys from Uniswap (as well as receives YDF from some other wallets) and then stakes it. Currently, the estimated number of tokens in possession is 22 million YDF ($1.7 million).

The second most Stake is a Dex Trader wallet. This wallet is mainly received from another wallet and bought on Uniswap and then staked. Estimate the balance of the wallet is 18 million ($1.4 million)

On the picture is the wallet that bought the most YDF

, Nerd found 10 Tornado Cash Depositor wallets all bought from 2.8 million to 5.3 million YDF (total of 10). wallet is about $3.5 million) from Uniswap exchange at 9:05 am on 03/08. All of these wallets are currently holding.

Looking at the exchange data, we see that 90% of the tokens are on the Uniswap exchange, the rest on the Mex and Binance exchanges (this can be any wallet that transfers tokens to the exchange wallet, does not mean that the project will be listed soon. )

After YDF was listed on Mex, a total of 1.8 million was deposited on the exchange, including 740k from Deployer wallet (team's wallet) and 1.2 million was withdrawn from Uniswap.

Summary

Looking back, Yieldification is a very potential project and will probably thrive in the future. With an extremely young protocol - 2 months old, the results that Yieldification is achieving are really impressive, the token is up 11 times from the bottom at the end of August, up 6 times since the listing (right in the time). market decline).

NFTization of DeFi- a method that will open up many of these possibilities and innovations, with an emphasis on value protection and sustainability for both users and projects. Let's wait with Holdstation to see the breakthroughs that the project will bring in the near future.