For a long time now, the DeFi sector has been attracting users with endless possibilities to earn passive income. As many are likely aware — or at least, they should be — investing in cryptocurrencies makes one highly dependent on the market volatility. You will surely see some great gains in a bull run, but if the market hangs statically in consolidation, or enters a bear phase, temporary losses are inevitable.
Risks get even higher if you trade CFDs on crypto broker services, as they let you bet on the price performance, which essentially means that you can earn or lose money depending on how accurately you anticipate the price action. DeFi, however, offers some great alternatives to these highly risky activities. You can now simply stake coins and earn daily passive interest against them, as you wait for months, or even years for the figures to turn green when the prices surge. Staking is a great way to hedge your investment and to continue earning passive income, regardless of the market’s next move.
These modern earning opportunities in the crypto space have exploded in popularity in 2020 and 2021. Naturally, since this is where the investors’ attention has gone, a number of new DeFi projects have emerged, competing to offer the most attractive ways to earn passive income. One example is YeFi.one, a new project that features staking, as well as several other capabilities of the DeFi sector.
What’s YeFi.one all about and what does it offer?
YeFi.one is a young DeFi project that, essentially, functions as a staking platform. It facilitates one of the most attractive ways to earn passive income. Users earn up to 80% interest against their crypto assets, that would otherwise be fruitlessly held in their wallets. The YeFi DApp is a fun, interactive DeFi tool that has already attracted more than 10 thousand users globally.
YeFi.one is a DeFi project at its core. Having recognized that staking has so quickly become users’ favorite DeFi tool for its security and ease of use, the YeFi developers have incorporated the staking function first off and brought it to a whole new level.
Earning up to 80% passive interest while HODLing
In a volatile market like crypto, seeing returns on your investment takes a hell of a lot of patience. In fact, staking is by far the best way to ease the wait and earn passive income while HODLing. With Yefi.one, users can stake crypto assets via their favorite BSC-compatible wallet. Fully in control of the process, users can choose to stake for 1 day or 15 days, as well as enable the auto-renewal function in one click. The interest is paid off every 10 minutes and can be cashed out at any time. This level of flexibility makes YeFi quite a gem among other DeFi projects.
Now, there is great news for decentralized data storage projects, like Filecoin, and the crypto enthusiasts who hold native tokens of these projects. Staking FIL, and coins of similar projects, provides you with 1.5x higher APY. To top that up, when staking the YEFI native token, your APY will double. Other supported assets include BTC, USDT, ETH, BNB, FIL, YTA, so if you are holding any of these, and haven't yet discovered staking with YeFi.one, you may be missing out on some good returns in the current market.
In order to bridge a large community of users and allow for fast and comparatively cheap transactions, BSC compatibility was established shortly after the project launch. Users can access the YeFi DApp https://dapp.yefi.one from any BSC-compatible wallet.
The YEFI token is also rather easy to obtain, as it has already been listed on PancakeSwap and MDEX. The project is expecting to see Ethereum compatibility being established and YEFI being listed on Bittrex on the 16th of July, which will certainly be a big deal, considering the potential user-base to be reached.
Many DeFi projects have let their users down and suffered significant losses as a result of hacks, known as DeFi attacks. The latter occurs due to the protocol’s smart contract being exploitable. To eliminate any possibility of that, YeFi.one has gone through an audit of two leading blockchain security companies, Beosin and CertiK. This comprehensive audit has been performed against 13 different security indicators, including code specification, business security, DDOS attacks, function call, etc. The YeFi.one smart contract has proven to be secure, exploit tolerant and the YeFi DApp is 100% reliable and safe to use.
The Community runs the show
YeFi.one is open-source and non-custodial. Due to the decentralized nature of the project, the community lies at its heart. The YEFI holders share the decision-making power when it comes to project governance. Such important decisions are taken through online voting.
YeFi.one goes the extra mile and shares its success with the community. Your interest is permanently increased when an invited user is staking via your invitation code.
Building a Complete DeFi LEGO, piece by piece
What we are currently witnessing with YeFi.one is a firm foundation for a complete DeFi project being set up. With the staking function favored by users, the platform expects its TVL to sky-rocket after the integration of lending & borrowing, DEX, NFT, and other DeFi LEGO functions.