Yieldly Initial Coin Offering Will Be Held On TrustSwap Launchpad

Published on: 22.05.2021

The first staking asset native to Algorand Network, Yieldly Finance ICO will be launching on TrustSwap Launchpad. This will be the first-ever token offering on the Algorand Network.

BRIEF BACKGROUND OF YIELDLY FINACE

Yieldly was founded in 2020 by Sebastian Quinn, a veteran in developing blockchain and emerging technologies, having advised projects such as Bluzelle and Power Ledger. Algorand is the ideal protocol to build a future-proof DeFi solution, and Yieldly aims to be the first automated market maker (AMM) for Algorand

YIELDY PRODUCTS

Staking and Rewards–Yieldly’s purpose-built smart contracts enable developers of ASA tokens (“Algorand Standard Assets” comparable to ERC20 on Ethereum) to easily create staking and rewards systems on top of Algorand

No-Loss Lottery/Liquidity Pools—Yieldly has built the first no-loss lottery designed to harness Algorand’s rewards system, aggregate rewards, and distribute them to users

Cross-chain Token Bridges—Yieldly wants to make it easy for anyone to access Algorand and experience the many benefits of DeFi

Automated Market Maker (AMM)—Yieldly will unite the ecosystem via an automatic market maker (otherwise known as a Decentralized Exchange or DEX)

Yieldly’s IDO will be executed by leveraging the TrustSwap Launchpad. Staking can commence for use of $YLDY in the Yieldly suite of apps upon the successful conclusion of the audit and YLDY token offering.

The YLDY token will be available to trade on Probit exchange in the first week of June (pending their successful technical integration with Algorand Chain). Over May and June, Yieldly will work with partners to expand trading options with plans to include other centralized exchanges as well as the forthcoming Algorand DEX. Yieldly plans to have the ERC20/ASA token bridge ready in June so that YLDY can also be traded on Uniswap.