Genius Yield Announces Partnership with VyFinance
Genius Yield collaborates with VyFinance to accelerate the adoption of DeFi and provide exciting blockchain use cases to everyday investors.
Genius Yield and VyFinance will support each other’s tokens, share liquidity in mutual liquidity pools, and use their respective marketing resources to promote the partnership.
Once the Genius DEX launches in Q3 2022, liquidity providers on the GENS/ADA pool will farm VYFI by providing liquidity to the GENS/ADA pair on the VyFinance DEX. At the same time, liquidity providers can also farm GENS by providing liquidity to the VYFI/ADA pair on the Genius DEX.
Additionally, users who also stake VYFI on the VyFinance platform will receive their APR rewards in GENS.
Dr. Sothy Kol-Men, the Managing Partner and co-founder of Genius Yield said:
“This partnership is important for Cardano and its thriving ecosystem. Genius Yield is actively building solutions to bring impactful crypto-based solutions to ordinary users and works in tandem with what VyFinance offers. We shall pull our resources together in the spirit of blockchain’s openness and collaboration leveraging Cardano’s composability to create value for all users and fast-track the expansion of the sphere.”
The partnership aligns with the core objective of Genius Yield, which is to democratize DeFi by distilling complexities and rolling out practical solutions for mass adoption. Central to Genius Yield is the Genius DEX, the first order-book decentralized exchange with concentrated liquidity that will be launched on Cardano in Q3 2022. The DEX eliminates impermanent loss because it uses a pure order-book model with concentrated liquidity positions and not the AMM system used by most DEXes in account-based blockchains like Ethereum. On top of the Genius DEX is the Smart Liquidity Vault, an AI powered Yield Optimizer that allows ordinary users to earn passive income.
VyFinance strives to make DeFi accessible for all users by bringing existing functionalities to the world, leveraging Cardano. Subsequently, they have built a cyclic, beneficial smart contracts-driven ecosystem with a neural network consisting of an auto-harvester, yield-farms and liquidity pools, an off-shore bank, and the VyFi Bar comprising pooled funds. Concurrently, VyFi provides the Learning Management System (LMS) to its community, helping in onboarding new users and expanding the Cardano ecosystem.
About VyFinance
VyFinance is bringing an entire ecosystem of DeFi products to Cardano with the backing of an Australian firm. By integrating a neural network into a liquidity aggregator creating the auto harvester, the protocol brings trustless crypto products into the real world, releasing a unique solution in the sphere.
About Genius Yield
While DeFi provides many investment opportunities, managing capital is complex and time-consuming. Genius Yield is your all-in-one solution to benefit from advanced algorithmic trading strategies and yield optimization opportunities.
SOURCE:
