Brand new DeFi Launchpad, Yearn Secure (YSEC) saw launch earlier this month.
Since then, the platform has already started working with different projects that aim to launch on its network.
The first one is the Coxena (COX), which is an all-in-one platform, integrating market-needed services to streamline users’ transactions.
Yearn Secure rolled out its DeFi Launchpad only about a week and a half ago, and it already started its first token sale for the COX token.
The DeFi sector is continuing to grow, with new projects emerging almost on a daily basis now. As such, the DeFi sector needed a DeFi specific launchpad that would handle the new projects, help them take advantage of the community looking for new opportunities, and simply back them in order to confirm their legitimacy.
Yearn Secure (YSEC) emerged with a brand new Launchpad to help make this happen. The project’s launchpad was originally launched earlier this month, less than two weeks ago. However, it already held its first token sale for the COX token.
COX Token sale
Around six days ago, on April 24th, the Coxena Network announced that it will hold the public sale of its native COX token on YSEC platform. Anyone was allowed to participate, and all they needed to do was connect their wallet. That’s it.
Users interested in participating in the sale did not even have to purchase YSEC in order to buy COX, nor will they for future token sales. However, they will have to acquire BNB, since this is the only token accepted, according to the CXN Network’s tweet.
The token’s price at the time of the sale was $0.01, and CEX even achieved its first listing on April 27th.
What is YSEC?
As mentioned, YSEC is a project that has developed a platform for offering new DeFi protocols. It focuses on low-cap gems, of which there are many at this time. The DeFi sector is simply extremely popular and profitable at this time, which is why a lot of people decided to try their luck and create a new project, hoping that it will eventually blow up, as it happened for many early movers.
In essence, the present situation is not unlike the ICO boom from 2016/2017, except for the fact that the market is now a lot more secure, and many of its participants are aware of the risks, which is why launchpad platforms like YSEC are now being used, instead of just going to any random project that promises huge returns.
YSEC itself acts as an automated launchpad where developers can customize their tokenomics, add specific trading pairs, and even choose between interval/time vaults for their token allocations. As such, it has one goal, and that is to make DeFi space safer for investors.
The project also allows staking on its network, which provides stakers with rewards in ETH.
Another thing to note is that YSEC decided to launch on Binance Smart Chain (BSC), simply due to the ability to increase client reach by choosing this young, but undeniably competent and scalable blockchain. This is not the first example of a project choosing BSC rather than Ethereum, whose network fees have skyrocketed over the past year, ever since DeFi brought additional traffic. Ethereum has struggled even with regular and dApp transactions in the past, but the surge of DeFi made it practically unusable for anyone who couldn’t afford to pay fees, that could sometimes go up to $50.