Yieldly is a project that deserves review due to the token making it to top gainers chart on coinmarketcap. Nowadays, the cryptocurrency world is being driven by memes, shitcoins and non-functional tokens, created on several different networks and blockchains, which serve no purpose at all other than tricking users into trading those assets to create market fluctuations that are backed by no specific reason at all and are all artificially made. This mess must come to an end, and cryptoandreviews.com is here to do that.
The benefits of Yieldly are closely linked to the utility of the tokens which will be reviewed on this article.
Cronos, PancakeSwap and The Sandbox all had a quick run up when they were introduced into the market. Many people invested in the initial idea while others didn’t. You know the rest of the story as of today.
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A lot of investors have hurriedly delved into investing on a project they have little knowledge about Due to Fear Of Missing Out. So on this article, we will review Yieldly token by explaining what the coin is about, insights on the project listing the pros and cons, the supply and how legit/safe the token is for investment.
What is Yieldly ?
Yieldly is bringing DeFi to Algorand. Yieldly wants to help people re-conceptualize value and the way it is exchanged. Yieldly believes digital value should be exchanged swiftly, simply, and safely and is working to set the industry standards by which people will transact interact with blockchain technology. The Yieldly DeFi ecosystem is comprised of four foundational pillars built on the Algorand blockchain.
First, 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. This opens up the Algorand ecosystem for many use cases that are currently booming on other blockchains such as yield farming, NFT distribution, and social rewards systems.
Next, Yieldly has built the first no-loss lottery designed to harness Algorand’s rewards system, aggregate rewards, and distribute them to users. Akin to PancakeSwap and PoolTogether on their respective ecosystems, Yieldly’s no-loss lottery will unlock deep liquidity on Algorand.
Third, Yieldly wants to make it easy for anyone to access Algorand and experience the many benefits of DeFi. To that end, Yieldly will release a cross-chain token bridge in June that will allow swapping of ASA YLDY for ERC-20 YLDY.
Finally, Yieldly will build out further bridges to expand the pathways for any ASA native token holder. This will drive new users and more liquidity to Algorand. After the smart contracts enable users to build staking and rewards systems and open pathways for more liquidity to flow into the Algorand Network, Yieldly will unite the ecosystem via an automatic market maker (otherwise known as a Decentralized Exchange or DEX). This component has the potential to elevate Algorand to achieve mass adoption as a leading DeFi protocol.
There are 2.56B YLDY in supply worldwide.
Pros and Cons of Yieldly
Pros of Yieldly
- There is a surge in the market price currently
- There is a community
- Contract on Ethereum
- They are fully decentralized
- A lot of investors are ‘flocking’ to invest
- It is listed on coinmarketcap
- Good navigational website – Yieldly
Cons of Yieldly
- The coin is still under research and development
- Multiple issues with its synchronizations between ledgers
- Project whitepaper unavailable
- Not listed on some exchanges
- No Github profile
- They have no reddit account
- No Bitcointalk thread created
- No traceable features on tradingview
Is Yieldly Legit or Scam?
A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.
According to research and reviews, Yieldly have developed a problem solver but with a weak back up for the token they produce. Going through their community and roadmap about their project, their visions and aims have so far been achieved.
Is Yieldly Safe?
Being willing to invest in any token is a question entirely up to you to answer. Yieldly token has a formidable team and vision to backup their digital assets and project. The project will succeed but depends if the team keeps the vision active and alive.
Make personal research on the coin, visit coin’s official website.
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