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The Q1 Report: YIELD App adds 26,000 users and $46 million AUM
Since YIELD App launched its beta application in December 2020, close to 26,000 users have joined us to earn up to 20% APY on their digital assets, pledging nearly $46 million of assets under management on our platform.
Fast becoming one of the leading wealth management platforms in decentralized finance (DeFi), YIELD App has built a strong and solid user base, with total users on our platform numbering 25,602 by March 28.*
YIELD App users are able to move through different tiers depending on how many YLD tokens they hold in their wallets: from 0-5,000 tokens for Tier 1 up to 20,000+ tokens. This boosts APYs up to 20% in total, which is available to YIELD App Tier 5 users. Since our launch, nearly 800 users have become Tier 5 users, with growth steady throughout the first quarter.
AUM growth supported by ETH launch
As a growing number of users have signed up to our platform, YIELD App’s total AUM has grown from $128,000 at the start of January to $45.7 million by March 28.
The launch of our Ethereum Fund was a success, with the fund attracting a net total of more than 19,000 ETH with a market value of around $32.4 million* in the first five weeks following its public launch. This has underlined the appetite that exists for holding Ethereum - the world’s second-largest cryptocurrency and the engine room of DeFi.
With APYs on ETH deposits historically yielding single digit returns across most DeFi protocols, YIELD App’s offering of up to 20% APY has proven attractive.
YLD token and in-app swaps
To earn APYs of up to 20%, YIELD App users hold our YLD token inside their wallets. This gives them a boost to their standard APY on stablecoins and ETH, while we top this up further with rewards in YLD. This strong incentive means that 48.9% of YLD’s circulating supply is currently being held on our platform - a total of 45,207,417 tokens out of 92,480,587 tokens.
In addition, our users are also taking advantage of our in-app swap facility that allows for easy transfers from USDT, USDC and ETH to YLD. Between January and March this year a total of 5,460,280 YLD were purchased in-app.
In-app YLD swaps are convenient and low-cost in comparison to buying YLD on decentralized exchanges. Most importantly, proceeds from in-app purchases of YLD are used for company expansion, supporting research and development, marketing, regional licensing and enhanced products and services: all crucial to the prosperity of YIELD App and our users.
In March, YIELD App began its strategic treasury rebalancing program that has, to date, seen us use proceeds from in-app swaps and the performance of the fund to re-purchase more than $1.3 million in YLD from the market. This can be viewed at the following address: https://etherscan.io/address/0x1a11848434cafa84a676e70459015407ec15b542
This program allows us to support our users and promote the overall health of YIELD App’s native token. In-app swaps are an essential part of this program that ensures our users are being continually rewarded for using the YIELD App platform to exchange assets into YLD.
The first three months of the year have seen YIELD App forge partnerships with a number of established and up-and-coming projects and platforms. These have included Finxflo, Singapore’s leading cryptocurrency exchange, Chainlink, and blockchain Avalanche, with which we will be integrating later this year.
Supporting fledgling projects is important to us, which is why we have also partnered with Launchpool: a new launchpad that will open participation in new project listings to investors of all sizes. In addition, we have teamed up with DeFiGo to boost our exposure in the Chinese market.
Our latest partnership is with visionary new DAG (Directed Acyclic Graph) technology blockchain Constellation, offering holders of the chain’s native “Stargazer” wallet the ability to invest directly into the YIELD App protocol while also contributing to liquidity pools on its primary exchange, Lattice.
The YIELD App community
As our users and AUM have expanded, so too has our in-house team and our wider community. YIELD App is now proud to have over 40 full-time staff spread throughout Europe and Asia while more than 35,500 people are now following the YIELD App Twitter handle.
Our Telegram community is also closing in on 11,000 members and our Instagram has surpassed 10,000 followers. In Asia we have also grown our WeChat Community to close to 3,000, our Weibo to nearly 500 members and Telegram CN to more than 1,200.
- Twitter 35,550
- Telegram 10,700
- Instagram 10,000
- YouTube 4,290
- WeChat 2,770 (7 groups)
- Facebook 2,100
- Telegram CN 1,284
- Reddit 1,100
- Weibo 476
We have teamed up with key influencers throughout the crypto world, including Coach K as well as ‘New Kids on The Blockchain’, IvanOnTech and CryptoWendyO. In the press, some of crypto’s biggest news outlets have picked up on key events, with our CEO Tim Frost commenting on some of the hottest topics and trends, including Bitcoin and the future of DeFi.
YIELD App in the news
- Untold Stories with Charlie Shrem - “Chasing Yields in the Crypto Markets with Tim Frost”
- Decrypt - “17% of Bitcoin's Supply Hasn't Moved for Over 7 Years”
- Reimagine 2020 - “Tim Frost - YIELD App - Make Crypto Work For You”
- The Block - “YIELD App launches Ethereum fund”
- Coinspeaker - “YIELD App Partners with Launchpool for Corporate Treasury and $YLD Farming”
- BeInCrypto: “Yield App Hits 20K Users; Announces Partnership With Constellation Network”
YIELD App 2.0
Over the next quarter YIELD App will be rolling out an even bigger, better and bolder version of our platform that is going to deliver a market-leading service and experience for our users.
Key features of YIELD App 2.0 will include:
- All new UX: A slicker, cleaner and smoother interface with more information provided in-app
- Native wallets: The end of third party wallets with a new, all-YIELD App wallet
- Auto compound: Interest will be fully reinvested automatically
- Full cycle swaps: Users will be able to swap freely between all assets on the YIELD App platform
Throughout the next quarter our developers will be putting every resource toward bringing YIELD App 2.0 to market. This is a crucial period for us and one that will allow us to move to the next stage of growth. The implementation of YIELD App 2.0 will also be followed by our mobile app. This is a key feature for our users whose design will be best served by the functionality YIELD App 2.0 will bring.
The YIELD App Bitcoin Fund
Perhaps most importantly, YIELD App 2.0 will pave the way for the launch of the hotly anticipated YIELD App Bitcoin Fund, which will allow our users to deposit crypto’s biggest asset with us.
Following the high demand we have seen for our Ethereum Fund, which continues to attract assets apace, we expect demand for our Bitcoin Fund to be significant. As such, our developers are working hard to ensure that our platform can absorb these new assets seamlessly.
YIELD App membership program
Our army of YIELDers are some of the most passionate and engaged users in the crypto world: the feedback they regularly provide helps us to continually improve our products and services and we value them highly. As such, work has already begun on building out our membership rewards program.
The YIELD App membership program is going to ensure that every user is rewarded for being a part of our community, with the most dedicated holders of the YLD token set to enjoy a suite of benefits that go above and beyond our already market-beating APY of up to 20%. If you are a YIELD App user, expect more information about this to drop in your inbox soon.
The final word: YIELD App CEO, Tim Frost
“The past three months have been huge for us. We are thrilled to see nearly 26,000 users join us to earn up to 20% APY on USDT, USDC and ETH, while our AUM continues to grow in-line with our targets. We have been working hard to widen our community through strategic partnerships and by teaming up with some of the industry’s best influencers.
“The next quarter will see us continue all of this good work while building a bigger and better platform for our users, whose loyalty and fervor will be fully rewarded. YIELD App 2.0 is going to be a crucial stage in our development and we are eager to roll this out to our user base, not least due to the upcoming Bitcoin Fund. It’s going to be an exciting second quarter.”
User and AUM data is from Week 1 2021 (beginning January 4 ) to Week 12 2021 (ending March 28)
*ETH assets priced at $1,700
Do you want to earn market-leading APYs on your USDT, USDC, ETH and BTC? Sign up for a YIELD App account today