BiKi will be listing CoinMarketCap’s #Top 5 trending Project, YFIII on 20 Oct 2020, DiFy.Finance is an in-development software fork of yearn.finance (YFI) focused on mobile platform compatibility.
Image taken on CoinMarketCap.com as of 16 Oct 2020 15:00pm (GMT+8)
DiFy.Finance, like YFI, the platform it is based on, is an environment of decentralized finance (DeFi) lending aggregators: it allows users to provide liquidity for the ecosystem by parking their cryptocurrency tokens in a smart contract vault and earning interest in return.
It’s current Automated Pool with YFIII Rewards is for DAI Stable Coin
What Makes DiFy.Finance Unique?
DiFy.Finance is part of the larger trend of decentralized finance: an industry that is focused on building decentralized financial instruments on top of existing smart-contract-enabled cryptocurrencies. These instruments include cryptocurrency lending, insurance, decentralized exchanges and other use cases.
It specifically is an aggregator of cryptocurrency lending platforms, same as the platform it was forked from — yearn.finance. It allows users to deposit their cryptocurrency, which is converted into yTokens — on-blockchain obligations that are secured by collateral in a different cryptocurrency. These tokens are then automatically parked in different DeFi lending services in order to maximize the lenders’ profit in the form of interest.
YFIII’s unique advantage, and the reason for forking away from YFI, is to provide a more optimized crypto lending experience for mobile platforms.
YFIII’s maximum supply is limited to 30,000 tokens, all of which are set to be openly distributed among the direct participants of the ecosystem with no pre-sale/ICO stage. According to the team behind the project, none of the YFIII tokens have been pre-allocated to the team members. Since initial listing it has seen a 64% increase in value and does not look like its slowing down.
DiFy.Finance (YFIII) Token:
The DiFy. Finance (YFIII) token is the proprietary token of the DiFy.Finance Management ecosystem, thanks to which it allows processing transactions as an exchange token, and also allows peer-to-peer exchange and value transfer.
DiFy.Finance — Farm:
DiFy.Finance — Farm offers cryptocurrency holders to pool their assets together to provide a large pool of liquidity for everyone who wants to exchange this asset, as a return, he receives a lucrative reward straight into the wallet.
DiFy.Finance — Stake:
It is a modern platform that allows DiFy.Finance and YFIII token holders to store their assets in a specially designed contract. The storage percentage is set automatically depending on the price of the underlying assets and the number of assets in the pool
DiFy.Finance — Borrow:
DiFy.Finance ecosystem is borrowing — Borrowers can borrow assets in an overcollateralized (perpetual) way, selecting USDT (Tether), Ethereum (ETH), or DAI, and earn YFIII as a reward for using the protocol.
DiFy.Finance — Vote:
DiFy.Finance — Vote offers decentralized platform that allows community to perform on-chain voting. All this voting data is record on blockchain which acts as a decentralized, immutable ledger, leaving no place of bureaucratic manipulation or rigging.
DiFy.Finance — Vault:
DiFy.Finance — Vault is a protocol that automates yield farming. It uses AI and BigData to look for innovative farming strategies, with the objective of bringing maximum yield to the community.
One-Stop Platform: A one-stop platform for all sorts of Defi products.
Decentralized Governance: With deployment on the blockchain and tokenization enabled, the DiFy.Finance Management offers a decentralized business model.
Stake: Unique strategy for calculating the stake percentage.
Tokenization: Enabling businesses to tokenize their businesses using the native YFIII Token
Security: All transactions in DiFy.Finance Management ecosystem are secured by smart contracts
Token Utility: YFIII Token has native utility derived from acceptance of the token in all of the products and services within the DiFy.Finance Management Ecosystem.
Unique and futuristic: The products offered by DiFy.Finance Management and its business model innovative.
Liquidity offered: Liquidity of the token offered through swapping and exchange listing
Problems that DiFy.Finance solves
- Security issues in finance tackled by decentralized blockchain-based financial model
- Role of centralized entities removed through dis intermediation and smart contracts based decision making
- Manipulation by controlling authorities and single point of failure issues tackled through
- Decentralized governance and distributed architecture
- Liquidity in trading activities offered through instant swapping and decentralized market making