YOP Hits Balancer Pools, APY Farming Begins
Continuing with the momentous launch of $YOP, we are pleased to announce that $YOP has been approved to the Balancer Pool. This will allow $YOP holders to stake and start earning yield for passive income. Balancer is a DeFi heavyweight with a $200m market cap for the BAL token and over $750m TVL, making it one of largest and most important DeFi protocols. The $YOP token has been whitelisted on Balancer and $YOP holders can now farm BAL tokens by providing liquidity.
Balancer is a n-dimensional AMM built on the Ethereum network. It allows anyone to create or add liquidity to customizable pools and earn trading fees. Some AMMs like Uniswap use a constant product (x * y = k) formula, but Balancer uses a constant mean V = ∏ t B W t t formula, which allows for multiple assets to be indexed within one liquidity pool.
Another way to view Balancer is as an inverse ETF — instead of paying fees to portfolio managers to rebalance your portfolio, you collect fees from traders, who continuously rebalance your portfolio by following arbitrage opportunities.
YOP is a Yield Optimization Platform and Protocol: an all-in-one application that makes it easy for everyone to access yield markets. YOP gives you custody, insights and custom parameters all inside one single application. yPlatform gives access to a variety of DeFi tools, and yProtocol optimizes yield from smart contracts and pools — all powered by the $YOP token.
YOP LP pairs on Balancer will receive approximately 20% APY per week, funded by the Balancer Foundation. This is an important step in our path to attracting a DeFi-centric user base to our platform as we look be a pillar of liquidity, farming, and yield generation. This is another step towards building the next DeFi unicorn. You can start creating Pool and farming here. The YOP contract can be verified on the Balancer GitHub here.
- Buy $YOP
- Create Pool
- Earn 20% APY via BAL
Stay tuned for more collaborations, integrations and partnership announcements in the coming days and weeks!