V2 user testing has begun! Here’s what’s new
We are thrilled to announce that the hotly anticipated launch of Version 2 (V2) of our platform is underway, with a priority group of Tier 5 users now testing a whole new user interface in staging! This new and enhanced offering will bring brand new features that our users have been asking for, and we are confident our community members are just as excited as we are about V2’s imminent launch.
Below, we outline the new features users can expect to see when V2 first goes live, including a completely revamped dashboard, much more flexibility and control over on-platform assets, and increased reporting on rewards. We have included screenshots for you to get a better idea of how the new and improved YIELD App interface will look.
However, please note these are screenshots of the testing environment only and are subject to change following feedback from testers on any improvements and alterations that need to be made post-testing.
1. Stake and lock YLD
One of the biggest changes coming with V2 is the ability to stake or lock your YLD tokens to earn additional rewards. Under our V2 Tier Rewards structure, users with more than 999 YLD (Silver members and above) will be able to stake their tokens to earn between 4% and 6% on their staked holding, or lock them up for 12 months to earn a flat rate of 12%. In addition, these users can choose to be paid in YLD to earn an additional 2% annual interest on their base assets. See our blog for more details on the V2 Tier Rewards structure.
Staked YLD is redeemable at any time and is not the same as locked YLD. Staked YLD can be withdrawn freely, while those that choose to boost their YLD on YLD APY by locking their YLD for 12 months will need to hold their YLD locked, on-platform, for the duration of that 12 month period.
The new V2 interface will have two buttons – “Stake” and “Lock” – on the right side of your YLD holding, clearly visible on the screenshot of the main dashboard below.
The dashboard and wallet will also clearly show the portion of assets staked and/or locked.
However, it is easier to control what happens with your YLD tokens through the dedicated YLD Token page. The YLD token page can be accessed in the left hand menu of the main dashboard, via the “YLD Token” tab. Here, users can choose whether to auto-stake their YLD deposits and rewards. From this page, it is also simple to stake, unstake, lock or convert YLD to another asset using the buttons on the right side.
Simply click on the “Stake” button to take you to the next screen to stake your YLD. The following screen will pop up.
After staking your YLD, you can then choose to lock it by clicking the “Lock” button, which will take you to the below screen. You can choose how much YLD to lock up and click “Lock” to confirm. Your YLD will then be locked for 12 months. IMPORTANT: Please note that in order to lock your YLD, you will first have to stake it.
Auto-staking locked YLD rewards
If you decide to lock your YLD for a year, what happens to your earnings depends on the option you choose. Users are able to choose to “Auto-stake” their YLD rewards by toggling on this option in the YLD Token page. If you choose this option, then all rewards from locked YLD will be staked. If this option is off, then rewards will simply go into your YIELD App wallet.
You can choose to lock more of your YLD at any time, which will create a new lock. The initial locked amount will not be affected by this. You will be able to see each separate locked YLD amount in the “Locked YLD” section on the YLD Token page.
Users have full flexibility to lock away any portion of their YLD token, it is not necessary to lock the entire holding. However, please be aware that if you decide to lock your YLD, your assets will be locked for a full year. Staked YLD can be unstaked at any time.
IMPORTANT: YLD must be staked or locked in order to reach the next Tier and earn YLD bonuses, rather than just held in the YIELD App wallet as they are now. Users will need to unstake their YLD before being able to withdraw the tokens from YIELD App.
2. Full cycle swaps
Users that have completed Know Your Customer (KYC) level 2 will be able to swap any of their existing assets for another asset available within the platform. To do this, you simply have to navigate to the “Swap” function in the left hand menu of your main dashboard to open up the swap capability. From here, you will be able to choose the asset you want to swap from, the asset you want to swap to, and the amount you wish to swap. Once you have done so, click on “Get quote” for an estimate of how much of your chosen asset you will receive. Once you are happy, click on “Swap”.
Please note that swaps will be subject to an initial daily limit of $5,000.
3. Enhanced security features
V2 also comes with enhanced security features, with a new security page available through your account settings. To access your account settings, click on the arrow next to your user name in the top right corner and navigate to “Settings”. Within this, you will find the security page, which will allow you to reset your passwords, change email address and set up two-factor authentication (2FA). The latter is a recommended setting for greater security of your assets.
2FA can be set up easily by clicking the “Enable” button in the 2FA section in the top right-hand corner of the security page. Click “Continue” on the pop-up that comes up and you will see the below screen. Use your authenticator app, such as Google Authenticator or Authy, to scan the QR code and follow the simple instructions.
In V2, users will also be able to set a limit on the number of withdrawals that can be made per day to protect their assets further. In addition, our upgraded platform comes with a new automatic logout feature, which will log the user out of their account after a period of inactivity, with users able to set the length of this period themselves.
Another new feature that our users have been asking for is the ability to whitelist addresses that you trust and/or use often. For example, you can add your MetaMask wallet address and any other wallets and exchanges you use often. Simply navigate to the “Address book” in Settings and you will be able to add new addresses by clicking “Add new address”.
4. User activity log
The activity log is a brand new feature that can be found by navigating to the “Settings” menu (accessed through the drop down menu under your user name, in the top right corner). You will find the “Activity log” option in the left hand menu.
Users can see all the recent activity that has taken place, what browser, operating system and IP address was used, and the date and time. This allows users to see all active sessions and close any that are not in use.
5. Control over compounding and earnings
With V2, users will now have much more control over their assets by being able to customize settings on their portfolios. For all fund controls, navigate to the “Earn” tab on the left hand menu.
Within this section, you will see all the available portfolios by asset as well as the size of your holding in each of them. Click on the portfolio you want to explore further to make changes and see your rewards, as well as your transactions specific to this holding.
The page shows the amount of assets in each portfolio in USD, EUR, GBP, JPY, CNY or CAD (users can select their preferred currency via Settings), your Tier level, any lock-up period the fund is subject to, the frequency of reward payments, your earnings and recent activity, as well as several other options users can choose.
Specifically, users are able to customize the following options by using the toggle on/off:
- Auto-compounding: Your rewards will be automatically redeployed into a chosen portfolio, creating compounding returns.
- Auto-deploy deposits: Any new deposits of this asset into the YIELD App wallet will be automatically deployed in the selected portfolio.
- Earn all rewards in YLD +2%: Users can get an extra 2% per year by choosing to earn their rewards only in YLD.
Please note there is no compounding in your underlying currency if you choose to earn everything in YLD. This means if a user has a holding in the USDT portfolio and chooses to be paid all earnings in YLD, the principal holding in USDT will not grow. In this case, toggling on the “Auto-compound” option will automatically move all rewards, paid in YLD, into the user’s staked YLD pool where they will earn YLD according to their membership tier. If “Auto-compound” is set to “off”, rewards will go into a user’s wallet.
6. Download a report of your transactions
All transactions on YIELD App are now easily tracked under the “Transaction” section, which can be accessed in the left hand menu of the main dashboard. From the transaction page, users will also be able to download a report of all their transactions, with this feature becoming available in H1 2022. YIELD App will notify all users as soon as this feature is online.
7. Rewards performance 24h/7d/30d
And last, but not least, users will be able to see their earnings over the past 24 hours, 7 days and 30 days in the brand new and improved dashboard, and in a selection of currencies. This will ensure the greatest possible visibility of earnings through the platform, helping our users truly take control of their financial futures!
We are extremely excited to be getting closer to bringing V2 to our valued users and we look forward to perfecting our product with the help of our testers. We are confident that this new and improved version of YIELD App will be a great improvement to our platform and will further help us achieve our mission to bring the power of digital assets to everyone, in every part of the world. Thanks, as ever, to our loyal and patient community whose feedback we always welcome.