Yieldly Publishes Investor Updates and Announces a New Community Event

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Yieldly Publishes Investor Updates and Announces a New Community Event

Oct 16
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In brief

  • Yieldly published an investor update, summing up the progress it had made in September 2021.
  • The project also plans to continue its focus on unlocking deep liquidity for all moving forward.
  • Finally, Yieldly also announced on Twitter that its founder will participate at Decipher, the upcoming crypto seminar.

DeFi project Yieldly has recently published an investor update for September 2021, and along the way, it revealed some of the new opportunities for investors, including bridges, pools, and an upcoming seminar.

Yieldly is the first and only Algorand-based DeFi suite in the world, offering multi-asset staking, no-loss prize games, as well as cross-chain swapping. The project appears to be covering all of the most popular activities in the crypto space, including combining games and easy earnings, staking, and interoperability.

All of that combined made it a very popular asset in the crypto industry, which is what the project also proved by publishing an investor update for September 2021. The update shows that the project’s total value locked has climbed to $91 million, where the amount of ALGO staked is at $54.8 million, and the total YLDY staked is at $25.7 million.

While both have been climbing rapidly over the summer and into the fall, YLDY has seen a steadier staked amount growth over the past several months. The project pointed out that its Twitter community has hit a milestone of 11,600, while its Telegram channel now counts 5,841 members.

The coin’s price grew as well, increasing from $0.002 during the IDO to $0.01978 on October 1st, marking an 889% increase. The project also noticed a major organic growth in NFT sales, and it made a number of bridges.

All Yieldly products see major success

Speaking of bridges, the project announced its focus for October, which is to unlock deep liquidity for all. It already created bridges between ALGO, ETH, BSC, MATIC, and more.Its public pools have seen over 1 million transactions in only 12 weeks, and the first two projects had over $3 million staked in only 5 hours. Its TVL, at its all-time high, climbed to $135 million.

The project offers three types of pools — Mini Pool, Medium Pool, and Maxi Pool, all three of which have their own requirements, but also offer their own benefits. The bigger the pool, the more benefits the users get.

Yieldly’s report further says that the average NFT prize pool size was at $7 million per NFT, which is a major success for the project, as well as NFT creators. It is all very safe, of course, as Yieldly had top cybersecurity firms audit everything.

Lastly, the project announced on Twitter that its founder, Seb Quinn, is going to attend Decipher between November 29th and 30th of this year. The upcoming crypto seminar will allow users to learn about building FutureFi in DeFi, NFTs, gaming, and go beyond Algorand.