Yield Credit (YLD) Migrates to SushiSwap from Uniswap

Yield Credit (YLD) Migrates to SushiSwap from Uniswap

By Abhimanyu Krishnan | News | 10 Feb 2021

According to an announcement made on Feb. 7, DeFi protocol Yield Finance (YLD) has migrated to SushiSwap from Uniswap, with the Yield Garden henceforth using SushiSwap Liquidity Provision (LP) tokens.

  • Yield Garden v1 had two liquidity pools, ETH-YLD and RFI-YLD, which had users stake their Uniswap LP tokens in the garden
  • Garden v2 drops the RFI pair and instead only supports ETH-YLD, besides using SushiSwap's LP tokens for staking
  • The move to SushiSwap was motivated by 3 factors: “laying the foundation” for features that will follow the mainnet launch; providing a buffer against impermanent loss via SushiSwap’s Onsen program; and “restoring some sanity to the Yield market in light of garbitrage”
  • The Yield Garden allows used to stake LP tokens and earn YLD as a reward, with a 3x multiplier after 24 days; the entire program lasts 30 days with a 7 day lock-in period
  • Garden v2 was launched on Feb. 7, with a mainnet rumored for release in the next few weeks
  • Prior to the launch of Garden v2, Yield revealed a YLD token supply dashboard to keep track of the protocol’s dynamic supply

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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