Coinscribble / Yieldification (YDF) is a DeFi NFT utility protocol that builds on both existing and new, innovative ideas to integrate NFTs in a variety of ways never seen before. You’ll see both familiar concepts implemented in new, useful and creative ways, in addition to brand new, innovative concepts built on the YDF platform.
YDF offers a unique staking twist that allows users to earn a profit when they lock their YDF tokens. YDF expands on this commonly used concept with the addition of an NFT as a “certificate” or “receipt” for the stake deposit. This NFT contains the keys and all staking metadata that allows the owner of the NFT to claim the generated profit. The same NFT can be transferred or sold to another party to effectively transfer ownership of shares, allowing bettors to recoup their principal or even realize profits on their initial investment without having to wait for their stake to unlock. This creates a brand new market not only for the YDF token but also for yield bearing NFTs that earn yield over time.
Wagering was one of the main utilities delivered at launch that YDF had from the start, but they are building a revenue generating utility above and beyond to offset all the emissions created by staking. Some of these utilities include:
Futures trading allows users to open permanent long and short positions against individual assets and custom-built indices of popular asset pairs, which the platform collects fees and serves as a counterparty to traders. Like staking, open positions are presented with an NFT that can be transferred or sold if the owner chooses to do so.
YDF’s custom-built NFT Marketplace supports users trading their staked NFTs alongside other NFTs in the ecosystem, to which the platform collects fees as revenue.
Yieldification (YDF) recently launched an over-the-counter (OTC) trading platform that allows users to trade various assets and asset types directly with each other with no slippage and low fees, without having to go through an exchange, such as Uniswap, or NFT marketplace, such as OpenSea.
The YDF OTC platform offers two types of OTC transactions:
Swimming pools which function similarly to liquid pools on DEX swaps such as Uniswap, where a user can create a pool of tokens that other users can exchange a predetermined dual token for the pool token at a price set by the pool creator at a fixed price with zero slippage .
Packages that allow users to pool multiple assets (ERC20 tokens and NFTs) together to make one simple trade.
The key difference that separates YDF from other platforms is that instead of forcing users to visit the YDF website to use the OTC platform, YDF partners with other crypto projects to integrate their OTC platform into the other projects’ own websites. better known as White Labeling.
This strategy benefits all parties involved as each project’s holders can go to their project’s trusted website to use a shared OTC platform between all partners, and YDF and each partner project will share the fees collected by the OTC platform .
YDF’s OTC platform integration is made easy with their custom white labeling process, which allows each project to fully customize the OTC platform integration to include each project’s logo, branding and style preferences.
Detailed information about YDF’s OTC White Label affiliate program can be found in their latest Medium article.
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Disclaimer: This is a paid post and should not be treated as news/advice.
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