Yield-earning platforms have acquired a significant reputation in the decentralised finance (DeFi) corner of crypto.
These platforms deliver passive yields to investors in a trustless manner.
Yieldification (YDF), a formidable HEX competitor, has recently emerged as an attractive yield-earning platform, facilitating 200% APRs using a unique integration of ERC-20 tokens and NFTs.
What is Yieldification (YDF)?
Yieldification is a DeFi platform that utilises NFTs to provide yields in their native YDF token. The platform is also home to perpetual futures trading, single-sided staking and eventually lending and borrowing services.
From Yieldification's documentation:
A real-yield NFT DeFi protocol that offers up to 150% APR using a brand new integration between ERC-20 fungible tokens and NFTs as certificates of deposit/stake receipts.
The platform has found inspiration from several significant DeFi giants such as Olympus (OHM), HEX, and GMX to create a new yield concept that infuses all the leading qualities of previous protocols into one.
What Yieldification (YDF) does differently
Aside from its yield opportunities, Yieldification offers a unique approach to perpetual futures contracts, supporting several popular DeFi tokens as collateral from Bored Ape Yacht Club's APE token to Ryoshi's TSUKA, BONE, SHIB, LINK and AmpliFi
Moreover, the protocol is also working towards building additional utility on top of its NFTs to support the platform and its sustainable approach of facilitating yields for its users.
From Yieldification's documentation:
The YDF ecosystem is and will continue to build a unique NFT utility whose goal is to ultimately generate revenue and pay for investor staking yield over the long term.
The platform utilises the concept of certificates of deposits (CDs), a key elemental feature of HEX. Unlike HEX, Yieldification began experimenting with CDs to allow its users to earn a fixed rate of interest on their staked crypto tokens, thereby creating a steady channel for NFT holders to earn yields.
Yieldification NFTs and the YDF token
The platform's staking NFTs serve as certificates of deposit that are transferable and tradable in NFT marketplaces like Opensea and LooksRare. Each NFT contains detailed information about its holders staked YDF in the NFT's metadata.
The protocol's native token, YDF, is built on the Ethereum blockchain and can be used as collateral with leverage, staked to earn YDF rewards, locked up for a set amount of days to earn extra YDF yield and will eventually feature in Yieldifications lending and borrowing services in the future.
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