Yugen announced the official launch of Yugen Vaults. They will start by launching Vaults for Penrose and then expand to other protocols.

Initially, Yugen is creating auto compounding vaults which convert farming rewards back into LP tokens and redeposit them. So that users can sit back and relax as their investment now auto-compounds without any further action required from the user.

Vaults will auto-compound daily

How it works:

Yugen Finance Vaults functioning is very easy and straightforward to understand, they will explain the Yugen Vault functionality for users in easy 4 steps:

1. The Users deposit LP to Yugen vaults and receive Vault tokens in return.
2. The Yugen automatically deposit the pool tokens and invest them in various protocols to generate the highest yield.
3. The Vaults receive the reward tokens in the form of yields and send them to the auto-compounder which redeposit them.
4. The Yugen takes 7.5% of reward tokens to YGN Converter which uses them to buy back $YGN which benefits the $YGN hodlers.

Please refer to the flow chart below to understand how Yugen Vaults works and benefits all the stakeholders.

About Yugen Finance

Yugen Finance a DeFi-Yield aggregator that generates money by aggregating income from various initiatives. The platform also comes with a basic app that can be used on both desktop and mobile platforms. This makes Yugen Finance the first DeFi return aggregator that makes money with other platforms. Liquidity Provider Coins are placed on the Fantom, Avalanche, and Harmony blockchain in multiple farms by Yugen Finance. Farm tokens from the Yield Farming project are used to buy $YGN tokens, which are then distributed as farm tokens and staking incentives. Vaults and mini-games will be accessible in addition to the main game.

Website | Twitter |

Source

REQUEST AN ARTICLE

The post Yugen Vaults appeared first on Smart Liquidity Research.