Calling all the gem hunters.
One of the best feelings in all of crypto
is finding that new hot alt and getting in before anybody else.
But there is nothing worse than waking up
to find out your favorite new DEFI project has pulled the rug on you.
Today, we take a look at a project that’s totally trying to eliminate that possibility
and let you rest easy,
dreaming of Lambos and unicorns.
Let’s get it.
Welcome to BitBoy Crypto!
My name is Ben.
Everyday, I show you how to make money in crypto.
If you like money, hit that Subscribe button and hit that bell
so you don’t ever get a case of the BitBoy FOMO.
If you haven’t noticed here at BitBoy Crypto,
we are trying to clean up this space.
This is because scams are the plague of the earth.
In fact,
on an unrelated note,
scammers recently infiltrated the BitSquad
and pushed a scam over-the-counter selling group called BitSquad OTC.
And I just want to make it clear for regulators
that I wasn’t selling Bitcoin without an exchange money transfer license.
So, today, we're going to discuss yet again another solution for preventing scammers and stopping the infamous carpet pull.
And I didn't mean Aladdin.
YFDAI is a community-centric innovative DeFi project developed by the people,
for the people.
The decisions and actions of YFDAI will be made by its members and community to ensure equity and fairness for all.
YFDAI is a new form of governance system where innovation, entrepreneurship, and technological advancement is the priority,
and the goal is delivering a much needed utility focus to DeFi.
YFDAI allows for staking,
lending,
farming,
borrowing,
safe swapping,
as well as it has the feature of a launchpad
and insurance.
We'll take a look at each of these and explain what sets YFDAI apart from other DeFi projects.
For staking, YFDAI returns 0.2% a day, 6% a month, 72% a year fixed returns and will run for 3 years.
Staking is available now and there are also options for staking 30, 60, 90 and 120-day contracts offered each time, with the cycle giving the user more and more benefits.
You can see the chart here on the screen.
In comparison, all the other current popular DeFi platforms offer much lower returns with YFI and YFII, offering just 6.65% and 7.73%.
There's only one DeFi project that surpasses the returns offered by YFDAI, and that's CORE.
However, CORE’s team is entirely anonymous and doesn't have a company registered or someone to complain to if crap goes sour,
while YFDAI does,
which gives it a far greater credibility with people's reputations on the line.
You can see this comparison chart for a list of things that separates YFDAI from other projects.
Let's discuss farming next.
Go grab some hose
and let's go a-harvesting,
but don't harvest into Harvest Finance
as that contract is extremely flawed,
allowing devs to wipe out all funds with a single function.
And I think we already saw that happen.
Farming on YFDAI will allow participants to earn returns by providing liquidity in a variety of pools,
while the first 6 farming pools are currently activated.
So go ahead, jump in for a swim.
Now, let's talk about borrowing and lending with YFDAI.
Similar to several of the other top DeFi projects,
YFDAI has a community made of depositors and borrowers.
The depositors earn passive income by providing liquidity,
while borrowers have instant access to a variety of different loan types.
However, the most exciting feature for YFDAI is a Launchpad and SafeSwap,
where they hope to search and destroy all scammers and teams planning to rug pull.
This is why,
big announcement on the channel,
I have decided to join YFDAI as the marketing advisor.
I know it's possible to clean this space up and eliminate rug pulls.
And that's why I've decided to throw my weight completely behind YFDAI.
And as you guys know,
that's a lot of weight
as I can barely lift myself off the couch.
Thank you for pointing that out, people in the comments.
The YFDAI Launchpad ecosystem will promote up and coming projects
that wish to contribute legitimate services to the crypto space
by helping them to build their token platform.
Now, in order to get listed on SafeSwap or launch on YFDAI’s project launch platform, these stipulations must be met:
The liquidity must be locked liquidity for at least a year.
The team, advisor, and marketing tokens are all locked in time-release smart contracts.
No mint function in the contract.
On top of all this,
YFDAI plans to establish an insurance fund
underwritten by a major carrier soon to be announced.
YFDAI also became a member of the Crypto Investors Protection Alliance or CIPA.
If you don't know the Crypto Investors Protection Alliance,
it's a group that aims to protect cryptocurrency investors and offer an option for businesses to verify their authenticity through their seal of approval.
It’s an alliance of companies all under the same philosophy
with the intention of making cryptocurrency a more reputable asset class for investors and businesses.
The contract has also been audited by Blockchain Consilium.
So?
What about the tokenomics?
It's very important.
Does it have pumpamentals?
Yep, YFDAI has those, too.
It’s a deflationary stakeable token that means that they are burning the supply.
YFDAI has pledged to burn its total supply
from 21,000 max to 13,000 max over time,
significantly reducing its total supply.
Currently, the circulating supply of YFDAI sits around 3,375,
while one coin is trading for over $500 with a market cap of just $1.7 million.
Now, pay attention
because their token burning structure impressed even me.
All of their services contribute to burning a percent of reward.
For example,
SafeSwap allocates 37.5% of its 0.5% fee and 50% of advertising revenue to burn,
staking burns 100% of entry and exit fees,
lending and borrowing burns 50% of fees,
and Launchpad burns a massive 1.5%.
In total, the team aims to burn a total of 6,150 tokens.
And it already has a small supply.
You don't want to miss YFDAI
if you are a yield farmer or someone who loves staking.
YFDAI is a full suite DeFi platform
where users can receive a residual income from all services.
Unlike many of their competitors,
they managed to construct this while removing inflation.
In fact, the deflationary model will result in just 13,950 tokens remaining once the burn mechanisms have finalized,
making the pumpamentals on this one extremely strong.
The YFDAI farming and staking mechanisms will provide the highest levels of returns in the industry
while being sustainable without the negative price impact caused by inflation.
This project has zero dumpamentals.
YFDAI has a current market cap of $1.6 million,
almost $1.7 million,
whereas other similar projects have a market cap of over $50 million,
giving this one a lot of room to run.
YFI reached a market cap of over $1.2 billion during the height of the DeFi hype,
and arguably,
YFDAI has a larger suite of services that pay the user residual income.
Also, the competitors to YFDAI are mostly anon teams without any licenses,
which, like it or not, will face regulatory scrutiny in the future.
YFDAI holds an exchange, e-wallet, and the e-money license
that will allow YFDAI to expand into e-commerce.
Huge!
Which could allow its market cap to grow even further.
Drop me a comment and let me know what you guys think about YFDAI.
I'm all in.
That's all I got.
Be blessed.
BitBoy out.