BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

The Yield Protocol — which enables fixed-rate lending on Ethereum — is live

The Yield Protocol, an Ethereum-based platform aimed at decentralized fixed-rate lending and borrowing, is up and running on the Ethereum mainnet.
The protocol, which was incubated by crypto investment firm Paradigm, is still in beta testing but is “fully functional,” according to a blog post by Allan Niemerg, founder of Yield , the startup behind the technology.
At the heart of the system is what Niemerg called a “new core DeFi primitive,” called fyDai (fixed yield Dai). These ERC20 tokens are analogous to so-called zero-coupon bonds in traditional finance, which are debt instruments that don’t pay interest. Instead, they trade at a discount until they mature, at which point they can be redeemed for full face value. This capability opens the door to a crypto version of fixed-rate lending.
Popular decentralized lending platforms like Maker and Compound charge borrowers a floating rate. Fixed-rate loans are designed to make it easier for borrowers to plan for the future. 
Yield is open for business to users who want to start by “pooling Dai in the automated liquidity provider,” by which they can earn trading fees and interest.” They can also borrow Dai at fixed rates with ETH collateral or lend Dai at fixed rates, in quarterly maturities through December 2021.
The team plans to move out of the beta testing phase in early November, Niemerg said in the blog post. The smart contracts underlying the system have been audited, he said, but warned users to keep in mind that it is still beta testing. 
“We expect that there will be unexpected emergent behavior as a result of people using Yield in novel ways, and we do not have the ability to control or prevent users from using the smart contracts as they please,” he said. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Cool huh? Please read the full Article: The Yield Protocol — which enables fixed-rate lending on Ethereum — is live


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News