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Nickel Bitcoiner
Nickel Bitcoiner
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Joined: Fri Oct 13, 2017 6:49 am

Yield Bank is going to be the next 100x crypto

Sat Dec 12, 2020 8:29 am

It's rare to find something this innovative, so I thought I would share/ask for opinions here. Basically, they have created a two-token system with really powerful tokenomics behind it.

Here's a brief explanation of how it works (it's a bit complex, but stick with me):

The main premise is that you can stake and earn passive income, but in a fully deflationary manner where both tokens' prices are greatly supported. The tokens are yB and yCASH. You can earn yB through the staking of UNI-V2 LP tokens on the platform, or you can stake yB directly, which rewards you in yCASH.

There's also a system in place though that supports both tokens' prices. Besides locked liquidity in both Uniswap pools, there is a small tax applied on every transfer and sale of both yB and yCASH. The tax is used to market buy whichever token the user transferred or sold. That token is then burned, lowering the overall supply and increasing the price further. The tax is dynamic so that when sell pressure is higher, the tax will be higher, which lowers users' incentive to sell and limits price drops.

I know this sounds complicated but it's really cool, and it will be awesome to see this in action. I recommend at least joining the Telegram where you can receive the airdrop to try the Yield Bank platform out: t.me/YieldBank . The website is here as well: yieldbank.finance

Let me know what you guys think of this as well.

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