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Overview of DEFI project YEARN CLASSIC

By liorezal | Liorezal | 27 Nov 2020


introduction

We now focus the attention of the cryptocurrency community on DEFI. More than $13 billion is in the Decentralized Finance Sector. This is a sizeable sum, a year ago the capitalization was 1 billion. This article summarizes the project called "YEARN CLASSIC".

total value locked in DeFi

What is the Yearn Classic?

The project team is striving to deploy the vaults in the network of blockchain Etherium 2.0. This will allow the Earn token to be the first to use the features of the new Ether. For example, low gas commissions and post-mining function. The vault will generate a profit by splitting investor funds through high margin mining pools. Specially developed smart contracts will help you do this. As a result, the user benefits from lower gas prices, automatic balancing and transfer of capital to other earning pools.

Scheme of Yearn Classic Economic

Proposing system

The YEARN platform allows token owners to submit their ideas and impact further development of the project. The proposal is put to the vote if it is correctly formulated. To realize the idea, it should support 18 out of 27 participants who have the signing authority.

Token 

The Token name is EARN. It works at the Etherium blockchain and based on the popular ERC-20 standard. 21 thousand tokens total issue. The price is within 125 dollars per 1 EARN. The tokens are traded on the exchanges "Indoex" and "hotbit".

Chart of YEARN token price change by Coingeko

Where does profit come from?

2.5% Fees are deducted each time a user picks up coins from the system. Half of the income per day is spent on buying ether and buy-out tokens from the market. Then the redeemed tokens will be burned to guarantee the high price of them. Burning daily at midnight. It is also possible to receive rewards for stacking. 0.327% of the reward will be distributed to users daily. This means that 3489 Earn will be allotted on the first day. The process will be repeated until the 10700 tokens will end. 

In conclusion, YEARN classic is another Defi project. With a successful outcome, you will make a good profit.

 

 

 

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liorezal
liorezal

hello. My name is Maxim and a novice blogger from Russia. I'll be posting reviews of cryptocurrency projects here.


Liorezal
Liorezal

In this blog I will post reviews of projects of interest to me.I'm not asking you to invest money in the projects I'm writing about. Remember, please, that any financial transaction involves risk.

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