Yield (YLD) token airdrop, join telegram for more info:
https://t.me/yieldchatRegister for the first round of the airdrop by PM'ing @yieldchat_bot. There's ONLY 1000 spots for round 1.
What...
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Yield is a P2P, non-custodial lending dapp that, unlike others, also incentivizes borrowers for successfully managing a loan to term. What that means is if you borrow on Yield and pay back on time, you're eligible to claim a proportionate amount of YLD tokens similar to how a lender gets interest in return.
Who...
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It's a community pseudo-fork of a project from 2017 that never got launched. A pseudo-fork because the project, Elixir (ELIX), didn't have any actual open-source code to fork so it had to built from scratch. Never launched because, despite (or perhaps because of) its noble beginnings, it was ahead of its time for defi to catch on and later lost its way. Unlike Elix (eventually), there is no startup, VC, company, or some-such behind Yield, just a ragtag community of some the earliest Elix backers, and others that joined along the way, that didn't want to see a good idea go to waste. And you can be part of that!
Like Elix, there is no ICO/IEO/DAICO/something-O. In addition to a 1M supply to be used for any and everything, ~1M YLD will be distributed via an airdrop.
Wen...
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* ...airdrop:
You can register for first round of the airdrop by PM'ing @yieldchat_bot now! The actual airdrop will happen after all 1,000 spots are claimed. To get an estimate of how many spots are left, take the number of members in this chat - 2. The base amount for this round is 200 YLD/person. Details about round 2 will be given after round 1 is done, and participants of round 1 get a leg up.
* ...mainnet:
See this comment (
https://t.me/yieldchat/511) to get an idea of the progress. All that is left is some final tweaks to the contracts and a few optimizations. A public testnet beta should happen before or after round 3 of the airdrops.
Where...
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* ...is the token contract:
The YLD token contract will be deployed after all spots for the first airdrop is claimed and the details — contract, symbol, and decimals — will be posted.
* ...is the website:
Because Yield is designed to be rather simple and is already more or less in a launchable state, and there being no ICO, company, and such, a traditional website is unnecessary (though you are more than welcome to build one if you think it is). It is a self-contained web app, similar to 1nch.exchange or iearn.finance. Before or after the third round of airdrops is done, the link to the testnet beta will posted.
Does...
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*...the token have a cap/max:
No. Given the purpose of the project it necessitates the lack of a cap, at least for the foreseeable future. Post airdrop the initial supply will be < 3M YLD. Read this intro (
https://telegra.ph/incentivized-borrowing-02-09-2) to familiarize yourself with how the dapp will work, and the measures that keep the token's supply in check and aligning the incentives of everyone.
Can...
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* ...I get more tokens in the airdrop:
Sure you can! While the base amount of the first round is 200 YLD/address, some people may earn more depending on their activity and other contributions.
