This post is going to be about the yieldx token a farming token which can be paired with different crypto and be farmed on their site for a solid 370% APY. The APY however is not going to be the part I will talk about. The part I am most interested in is the involvement of yieldx staking on the upcoming UMEX platform. I will write about;
- What is umex?
- How will yieldx benefit from the umex platform?
- Why would I buy yieldx instead of umex?
What is UMEX?
Umex is a margin trading platform entirely contained within uniswap. A margin trading platform is a platform where you can short and long cryptocurrencies with different leverages. You can sell and buy contracts which are directly executed on uniswap with a 0.8% fee from the unimex platform. These fee's are disbursed to the loaners, umex stakers and yieldx stakers as a reward for supporting the platform. 0.15% of these rewards will be going to UMEX staker and 0.05% will be going to yieldx stakers.
How will yieldx benefit from the umex platform?
Yieldx stakers will benefit by receiving 0.05% of the fee's from the unimex platform. To give an idea on how much this could be I will show a small excel sheet outlining the yearly profits of umex staked with the different trading volumes. The profits are even calculated per token, although it is all speculative right now. As a first mover umex has the potential to at least reach a volume totaling 10M per day. This would mean that 0.15% of the daily fees is 15000$ and 0.05% is 5000$ of fees going to the yieldx stakers which could be much more if volume increases. With the circulating supply of 3.851.390 assuming 50% will be staked on the platform since yieldx also has there own staking still going on. This means 1.925.695 tokens will be staked getting you a total value of 0.000259$ per token daily. Meaning with the current price of 0.0365$ you will have you money back in 140 days of staking regardless of the performance the token itself. In comparison you get 0.001875$ per umex token daily with the current price of 0.45$ it will take 250 days to make your money back regardless of price performance. To sum it up:
- Yieldx 140 days with 10M volume you will make 100% of your initial investment back
- Umex 250 days with 10M volume you will make 100% of your initial investment back
Finally outside of the clear financial profit there yieldx stakers will also be able to vote on different governance topics on the umex platform.
Why would I buy yieldx instead of umex?
There are two reasons as to why buying yieldx right now could be way more profitable. Number one is because yieldx has not had a single pump yet, it's value is only 0.03$ right now with a total circulating supply of 3.851.390 and a marketcap of 140K. With the platform launching soon this feels like it is primed to do a crazy run. You only need three times the stake of yieldx to equal the profits from a umex stake. If you believe the platform will reach the 10M daily trading volume, buying at these prices can be highly profitable as you could flip it when the platform launches or you could stake it on the umex platform for some very decent rewards. With the platform alpha launching in this month I believe there will only be an upside to the purchase of this coin.
However do remember that all this is pure speculative and is in no form any trading advice, I just want to bring this information out there for those interested.
Wanna read more about both the UMEX and the yieldx token and function? You can find it on their website and you can look up the telegram.
