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YFI Yearn Finance: Mergers and Acquisitions

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YFI Yearn Finance mergers and acquisitions

Yearn Finance just had an important week of crucial announcements about different partnerships, mergers, and cooperations with different protocols of the DeFi ecosystem.

As of now the announcements of cooperation and merger have come forth involving protocols like Pickle Finance, Cover protocols, C.R.E.A.M protocol, PowerPool, and Sushi Swap. 

YFI had a big month

In the month of September, the YFI token hit an all-time high with a price of $43,678 as per Coingecko. Today the price stands at $25,627.91 with a 24-hour trading volume of $534,201,806. The price is down by -2.2% in the last 24 hours. 

Source: CoinGecko


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Despite the gas price crisis, Uniswap Liquidity sees a major surge

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Despite the gas price crisis, Uniswap Volume and Liquidity sees a major surge

Uniswap, one of the most popular decentralized exchanges in the world has seen a massive surge in its liquidity despite the concurrent increase in gas prices. Traders don’t seem to get enough from token swapping as the exchange rises in popularity enough to capture a great space in the competitive exchange scenario.

Back in Mid-November 2020, Uniswap went through a depressing phase of liquidity decline when the yield farming incentives ended then. It was during that period when a governance vote was carried out, and the decision to extend it was thwarted. 

Six weeks later, the liquidity on the popular exchange renewed even when there were a few yield farming pools on the platform.

Hayden Adams, founder of Uniswap has notified that the liquidity surpassed $3 billion and will be approaching its all-time high. As per the exchange, it was #3.36 billion on Nov 13. The spike in liquidity began on Jan 2 with the top pair on the DEX being wBTC/ETH generating $43 million in volume and $129,000 in trading fees over the past 24 hours.

Uniswap’s UNI token has been doing well off-late with the current bullish momentum in the cryptocurrency market. UNI prices have predominantly displayed a flat behavior on the day at $6.24, but in the last 7 days, it has taken a noticeable 50% upward movement. 

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Ethereum enters the list of top 100 assets in terms of market cap

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Ethereum dominating the digital asset landscape with birth of DeFi

January 6, 2021:

In the last 24 hours, the price of ETH has risen by 13%, and this jump has been a winning leap for the second-largest crypto in the world. Ethereum now features in the list of top 100 traded assets in terms of market cap for the first time as measured by CompaniesMarketCap.com.

Currently positioned at the #88 spot between Bristol-Myers Squibb at #89 and Anheuser-Busch at #87, Ethereum surpassed 12 other entries on the list today. As Ethereum pushes its way up capitalizing on the Bitcoin rally, ETH is now seen as the new asset to trade for profit this year. In 2021 alone, ETH is up by 62% and is all poised to set new ATH this year. The gains it has made this year convert into a neat $53 billion increase in its market cap which is a major gain for it.

Bitcoin happens to be the only other cryptocurrency featuring on the 10th spot in the list. With an estimated market cap of $12.19 trillion Gold occupies the numero uno position by a margin of a whopping $10 trillion with the next closest competitor being Apple. 

CompaniesMarketCap.com tracks the valuation of publicly-traded companies in the order of their market cap. These assets not being directly comparable have been calculated in a different manner. It has measured every asset structure in a different manner. For Ethereum and Bitcoin to feature on the list is a winning deal for the cryptocurrency sector as it consolidates trust in the system. In order for ETH to surpass BTC in market cap, it has to showcase an increase ~ 5x.


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DUCKDAO + DUCK TOKEN: Here’s What you need to know

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DUCKDAO – All you need to know about its community initiatives

Compared to conventional market makers, contemporary market makers are not just providing liquidity in the most basic manner. New ideas, innovative methods, and better incentivization and chance to become a part of the inner circle.

Similar to such grounds of offering is the Duck Liquidity Pool, the name of DUCKDAO DeFi market maker which has been funded by an initial introductory sale of pre-mined tokens. DUCKDAO will provide its solutions to promising projects and exchanges. Those projects which will be nurtured here will be provided immense benefits. The Duck Liquidity Pool is an additional solution to the DUCKDAO

DUCK Liquidity Pool

The DUCKDAO market maker has been funded by an initial sale of pre-mined tokens. The market maker will offer solutions to projects and exchanges. 

DUCKDAO works with projects and classifies them into three different tiers:

Tier 1 – DUCKDAO in this stage works with projects right from its initiation till after launch. The incubated projects benefit from marketing, advisory, and listing services.

Tier 2 – DUCKDAO takes care of projects that need a social media strategy that includes the most popular platforms like Telegram and Twitter.

Tier 3 – DUCKDAO takes care of OTC sales and community requests. As such, there is no direct involvement with the project. 

DUCK TOKEN ($DUCK)

The Duck Token is the reward token for those users who contribute to the Duck Liquidity Pool as yield farmers. It’s use cases include:

  • Access to different project’s token airdrops
  • Fair share in market-making profits
  • Provision of farming and liquidity on Uniswap

The Duck Liquidity Pool Token (DUCK) will help in funding the DUCKDAO market maker along with launching its business operations. It will also be used for the distribution of profits wherein the yield farmers will receive 50% of all profits in stablecoin. The token enables a deflationary economic system to steer ahead of growth.

Deflationary farming with one-side Burn

Inflation due to heightened activity on yield farming platforms has led to users losing the value of their investments. But in the long-term, this can dilute the capital of the investor. Duck Liquidity Pool solves this trouble with its revolutionary  “Deflationary

Farming 2.0” with a one-side burn. This means that users will lose one side of liquidity and never get it back as the rewards that the users get from farming are higher than what they have put into the liquidity after a stipulated time. 

How does it work?

Whenever someone leaves the farm, the liquidity provided by the entity who leaves gets burned and the supply of DUCK token reduces. Even DDIM gets burned in different pools like DDIM/ ETH, DDIM/USDT. So if this is clear you’ll see that One side of the liquidity gets burned to make the whole token system deflationary profiting everyone.

DUCK  tokenomics

The division of the token distribution has been done in a below-given manner:

  • 22% Pre-mined tokens for sale to fund the DuckDAO Liquidity Pool
  •  8% Operational tokens (7% vested or locked and 1% for core team)
  • 70% Reserved for distribution to liquidity providers through liquidity mining.

The total supply of DUCK tokens will be 100,000,000 DUCK out of which  70,000,000 DUCK tokens will be kept for farming rewards. In the presale, 10,000,000 DUCK tokens are always reserved for DuckDAO members at a fixed rate of $0.04. The rest 12,000,000 DUCK are planned to be sold to strategic partners and external investigators who function out of its ecosystem in the range of $0.044 up to $0.07.

The DLP treasury tokens are linearly vested over 12 months and are an alternative source of funding when needed. The DLP treasury tokens will be utilized for further development, getting new clients, and other strategic needs. 3,000,000 tokens are locked in the reserve and can be unlocked when the top 10 DDIM holders vote for a majority. 

Duck Liquidity Pool business models

Project token purchase 

Projects need to give buy or sell-side liquidity because DLP provides both sides. It gets tokens at a good discount in order to protect the buy-side funds. The spread is considered the profit by the pool.

Project token borrow

In this model, the project lends its tokens to the DLP for the sell-side. DLP then gives both the side liquidity to the exchange. When the stipulated time gets over, DLP sends back the same amount of P-tokens or the initial worth of the tokens in USDT. 

Fixed Fee Model

This is the classic model in which different projects and exchanges are required to pay a fixed fee for market-making services. The project itself will provide both sell-side and buy-side tokens. DLP has to provide its services till the agreement duration is on.

For more info

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