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Yearnlab.com, a Second-Generation Yield Farming Cross Chain Protocol Now on Binance Smart Chain

·6 min read

Estonia, Kärdla--(Newsfile Corp. - November 29, 2021) - Yearnlab is a multi-chain yield optimization ecosystem constructed on Binance smart chain (BSC). It is a decentralized cross-chain protocol to manage digital funds effectively across multiple blockchains. Its effective strategies give the opportunity to experience seamless yield farming across different blockchain. Decentralized networks are permission less and trustless platforms, where auto intermediaries perform transactions to avoid repetitive tasks.

Yearn Lab

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Challenges Faced by Yearnlab

Yield farms are assumed as a reliable source of generating passive income through utilization of one's crypto. However, the market for yield farms has become denser over the years due to high supply of new yield farms every now and then, in order to generate short term profits. Users stake their funds in liquidity pools for a short term given amount of time in order to earn rewards and shortly after that they opt for other newer yield farms. This process loses the integrity of a platform to maintain its community. Yearnlab offers certain features to retain its strong community.

There are several other benefits that users can acquire from Yearnlab besides it's advancements in technicalities of staking, and governance.

No Profit Restrictions

Yearnlab does not put any restrictions on its users regarding profit taking. Users on yearnlab platforms can earn without any limitations. Simply, provide liquidity to the liquidity pool. In this way, the liquidity pool owe users funds and pay them back in means of Yearnlab tokens.

Low Fees and Fast Transactions

Yearnlab offers its users the facility of lower transaction fees and faster delivery. The team knows how much users dislike higher gas fees and any other hidden charges. To counter their concerns they bring them the facility of lower fees and faster delivery in one platform.

Personal funds security

Personal funds security is another crucial concerning factor for most investors. The fear of falling in the hands of black sheep refrain most investors from trying new investing opportunities to generate passive income. Yearnlab is concerned about its users. Hence yearnlab offers a completely secure platform that does not have any loopholes or information leaking holes. Yearnlab ensure the safety of end users' funds from malicious actors.

  • Rug-pull protected

That's why Yearnlab staking contracts are time-locked. This means every action our developers or administrators perform is broadcasted publicly 24 hours before it can be executed. This gives our users plenty of time to secure their funds before an administrator, developer, or hacker could move them.

In addition to the time-locks, the team has made sure to remove any trace of 'migrator' code. A migrator code is often used to perform rug-pulls and theft by allowing the developer of a contract to move the pooled liquidity out of the platform, so they've made sure that there is no possibility of this happening, even if our team gets hacked or attacked. Also, liquidity will be locked for 10 years.

Deflationary token mechanics

Yearnlab believes that today's high-yielding farm ecosystems suffer from hypercontraction. NS. A very sharp drop in the general price of tokens in the blockchain. This creates a deflationary spiral, lowers the valuation of tokens, lowers the annual rate (APR), lowers the demand for tokens in general, and lowers deposit levels. This scenario creates a deflationary environment that does not serve the interests of stakeholders

Among other benefits that Yearnlab aims to offer its user base are:

  • Cross-chain liquidity aggregation protocol

  • High security smart contracts

  • Multi-chain staking as a service

  • Creation of native tokens

  • Asset farming on multi-chain

  • Larger base of native currency Binance coin users (BNB)

and an efficient platform to entertain a large number of users at a time.

What is MultiChain Yield farming?

How YLB Works

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In MultiChain Farming assets, Liquidity Providers (abbreviated: LPs) provide liquidity to the protocol's different liquidity pools either based on ethereum/bsc/polkadot. Liquidity pool is simply a smart contract that contains money in it. These pools allow users to borrow, lend or exchange tokens. Those who provide liquidity get rewarded.

Yearnlab Staking Pools

In MultiChain Farming assets, Liquidity Providers (abbreviated: LPs) provide liquidity to the protocol's different liquidity pools either based on ethereum/bsc/polkadot. Liquidity pool is simply a smart contract that contains money in it. These pools allow users to borrow, lend or exchange tokens. Those who provide liquidity get rewarded.

Yearnlab Staking Pools

Yearnlab let users stake $YLB tokens, or newly generated tokens in their described names. These tokens will be backed by Yearnlab. These tokens will then provide users other benefits too. Moreover, Yearnlab provides multiple pools for liquidity providers, YLB/YLB, YLB/BNB, YLB/BUSD. In addition to that, YLB provides an Upto APY of 150,384.84% Upto DPY of 412%.

Create Token with Yearnlab

People who believe in the success of their idea/startup or brand, can create a token with 3 simple steps and raise funds through pre-sale using different ICO platforms or ILO. Once they raise enough funds they can get community support and provide liquidity for their native tokens.

Yearnlab is a cross-chain protocol. Unlike its counterparts, Yearnlab's aims to bring the most updated service of DeFi to its users. A smooth and reliable trading between heterogeneous and homogeneous blockchains is the top priority of Yearnlab.

​​Mission and Vision

Yearnlab made sure to have a team on board which shares similar values like us to yield the best output for the user base. The company aims at providing the best user experience. A fast, reliable, easy-to-use platform that gives top-notch financial opportunities to manage funds smartly while also making it a user-friendly platform. $YLB aims to make this platform a decentralized cross- chain protocol. That provides services across multiple blockchains in order to seamlessly connect heterogeneous blockchains. Our team members have put their blood and sweat into this project to give it the existence that it has now for the sake of convenience only. Team will continue to make advancements in our platform according to feedback, demands, and requirements. Yearnlab platform started with BNB only and with future advancements, $YLB aims at adding other blockchain options to pick from for providing versatility in this platform. Moreover, the team encourage extensive experimentation on our platform to bring the best out of our Yearnlab.

To know more about this visit our website to learn about the technicalities of this project on our whitepaper.

Media Contact

Website: https://yearnlab.com
Whitepaper: https://yearnlab.com/whitepaper.pdf
Github: https://github.com/Yearn-Lab
Telegram: https://t.me/yearn_lab
Twitter: https://twitter.com/yearnlab
YouTube: https://www.youtube.com/channel/UC76RFYjhBsFAqcpYrt95uXg
Reddit: https://www.reddit.com/r/yearnlab/
Medium: https://yearnlab.medium.com/
Contact us: info@yearnlab.com

PR Contact

Company - News Coverage Agency
Name- Baban Mahato
Email- Touch@newscoverage.agency
Telegram- Baban Mahato

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105588