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YLD Trading Is Live! What’s Next?
On December 14, 2020, our YLD token began trading on two exchanges: Uniswap and BitMax. The result of months of preparation by the YIELD App team, the token generation event was an important step for us, but it was only the beginning - it’s now time to launch the platform.
YLD token offering
We successfully raised US $4.9 million during our funding rounds. These funds will be used to continue supporting working capital, further develop our portfolio management engine, and for marketing, growth and additional licenses.
Our goal of $150,000 was surpassed within 24 hours of launch on the investment platform BnkToTheFuture, eventually raising $297,000. An additional $3.6 million was raised from private investors and established investment firms such as Alphabit, Digital Strategies and PALcapital. We also raised $1.2 million on TrustSwap, which was 3x overbooked and sold out in less than a day. The private sale price was $0.07 for vested tokens and $0.11 for unlocked.
YLD has a maximum supply of 300 million tokens and an initial circulating supply of approximately 33.3 million. About 26 million tokens were distributed to investors, 4 million went to liquidity and marketing, 2 million went to company reserves and BitMax, and 1 million has been stored for staking rewards.
Fun fact: with 300,000,000 YLD in total, and if every owner held them in their YIELD.app wallets, only 15,000 users would be able to hold the 20,000 YLD required to access the highest reward tier, so don’t miss your chance!
YIELD.app welcomes its first users
From today, we will start to gradually release our platform to 50 randomly selected users by email every 24h, so make sure to sign up for early access!
Those selected will be able to start using the very first version of the YIELD web app and suggest ways to improve it before the full release. We value our community’s feedback, and this will be an opportunity for our early adopters to invest in the DeFi Alpha I fund and test our crypto wallet using USDT, USDC and YLD tokens.
“The focus now is 100% on the product and platform in order to deliver on our promise to users: namely, high returns through a simple app,” says Adrien Geneste, Communications & Product Marketing Lead at YIELD App. “YIELD App is a real product with real value, and our token is only one side of the coin. We are looking to provide our users with a long-term, stable and profitable solution.”
The YLD token gives users the opportunity to boost their annual percentage yield (APY) to 20%, earn up to 10% APY on their tokens, and support our ecosystem.
Exciting times ahead
YIELD App has big plans for the coming months, and 2021 will be an enormous year for us. Following early access, we will release the mobile app, partner with exchanges for fiat integration, and support additional assets including ETH, DAI and BTC. By the end of the year, our platform will be fully functioning with multiple investment funds, crypto wallets, fiat ramps, a bank card program, and interest-bearing savings accounts.