Over these years, people have shown more interest in the Decentralised Finance industry. The DeFi platforms and applications enable users to perform their financial tasks, in a secure anonymous and decentralised platform. In this article, we will be talking about Yieldly Finance. Yieldly is a decentralised finance platform. Developers designed and developed it specifically for Algorand.
The Yieldly Finance aims to enable a billion crypto users to exchange digital tokens for their payments. This article will explain what is Yieldly and Yieldly Finance? And how much is the Yieldy price? Continue reading this article while I explain each part separately. Then, let’s begin.
Team Yieldly strives to do that and offer a platform for exchanging tokens but without the transaction fees efficiency issues and frictions. Not only that, Yieldly also does that in a very secure manner. Therefore users who wish to use the Yieldly Finance platform don’t need to be afraid of losing their assets because of a security failure.
Now, Yieldly Finance claims to have this payment and transaction platform running securely. But some groups in crypto communities are suspicious of Yieldly. That is why in the next section we will be checking to see whether Yieldly Finance is safe.
Is Yieldly Finance safe?
In this section of the article, we will check to see if Yieldly Finance is safe. The crypto market is great in the sense that it lacks that kind of authority figure. Then, it also means that the acts in the crypto industry can be unsafe. Especially when the crypto market is in a bullish season, scammers and con artists show up like unwanted weed. Therefore, you should be more careful about what you invest in the crypto market.
Then, we will be explaining in this section whether or not the Yeildly platform is safe. Some huge venture capital backed up Yieldly Finance. These top venture capitals include Borderless Capital, LongHash Ventures, and CMS holdings. Halborn also audited and verified Yieldly as secure. Halborn is a cybersecurity firm that has won many awards. Therefore it can be safe to assume that Yieldly Finance is safe.
But cryptocurrencies are a high-risk investment. So, you need to do your own research before investing in any project.
How much is Yieldly token worth?
The price of a token is extremely important when it comes to picking crypto to invest in. Therefore, in this section, we will be checking the Yieldly price to get a full idea about what happened to Yieldly finance and whether we should consider investing in it.
As you can see, Yieldly has lost a lot of its value since late 2021 and early 2022.
The Yieldly which traders were trading once at 0.033 dollars a token, is now resting at 0.00093 dollars. Then, it is obvious that the Yieldly has lost more than 99% of it’s value since its all-time high. So, it begs the question of what happened to this Defi platform.
Therefore, in the next section, we will be discussing what happened to Yieldly Finance. This means that the section will explain why exactly Yieldy Finance has lost so much of its value. But for now, let’s predict the price of Yiedly in the next section.
Then, if you are interested in investing in Yieldly you should read the next section. To read my price prediction of Yieldly Finance. You should know that this is just one man’s analysis and it can be totally wrong. Therefore do your own research before investing in Yieldly Finance.
Yieldly price prediction
As you can see in the previous section, Yieldly has lost a lot of it’s value during the past few months. ُBefore we can analyse Yieldly price, we should find out what is happening to Yieldly Finance. Therefore, in this section, we will be checking to see what is going to happen to Yieldly.
What is happening to Yieldly?
The Yieldly developer team is planning on updating the reward system.
Yieldly will change its reward distribution system. The reward distribution is now 0.70% of the distributed tokens every week. Then, after the update, it will be 0.002091% of the distributed tokens every 30 minutes.
While the reward system will share the same amount of tokens, the system will share the rewards in shorter periods instead of a huge gap. This means the system will send the stakers wallet their reward every 30 minutes instead of every 7 days. Therefore, the stakers will have a better experience, which can result in more users turning into stakers.
Back to the Yieldly price prediction:
According to the updates and the fact that some reliable hedge funds support the Yieldly finance, the Yieldly price can rise once again. Therefore, the fact that the Yieldly price is low can be a good thing for buyers, because it is a fraction of what it used to be.
If the developer team keeps going where it is headed, and the crypto market begins its next bullish trend, the Yieldly price can reach 0.03 dollars once again. Yieldly lost most of its price in the past few months. Then, while it is cheaper to invest in, it is also riskier.
Therefore be sure to do your own research before investing in the Yieldly Finance project. Or any other cryptocurrency or stock for that matter.
What is Yieldly staking?
Yieldly’s staking is just another reason that makes this cryptocurrency interesting. It is the first platform built on Algorand that enables Algorand users to stake and lock their assets to receive a reward after a period. The Yieldly reward distribution system will be updated from every 7 days to every 30 minutes.
How do I invest in Yieldly?
To invest in Yieldly you must install a crypto wallet on your mobile phone. Therefore, head down to the crypto market cap and open Yieldly’s page. Then, you can see the markets and crypto exchanges that support Yieldly and purchase your Yieldly tokens from there.