I’ve been intrigued by Algorand since my first day of diving into cryptocurrencies. In my short time of checking out the cryptoverse, I’ve been desirous of a defi project that I can invest in with the coins I already hold. I’ve bumbled my way through the Celsius KYC process (and still trying to sort out the Cakeswap KYC process) but yet, I still wanted my Algos to be apart of the fun.
Enter the Yieldly.Finance no-loss weekly lottery. The premise of the dapp is to contribute your dear Algos to the Yieldly pool in exchange for lottery tickets. Each week the winner receives the collection of Algos that have been accumulated by the pool, as well as a cut of Yieldly.Finance’s native token, the Yieldly coin.
(Since I dont have a hundred thousand Algos to put on lotto tickets, I only receive yieldly coins from this process, but I’ll take what I can get)
You can then stake your shiny new Yieldly coins and receive a weekly payout of more Yieldly coins AND Algorands!
Amazing. I love to see shiny new coins waiting to get picked up each week.
There was alot of griping about the fluctuating daily payouts on staked Yieldly coins so the Yieldly.Finance team put out a blog post explaining the fluctuations, the equations used to calculate payouts and a little bonus for early adopters.
IF you had put some Algos into their hands within the first week of their new project (before June 14th) then you will receive a cut of an airdrop of Yieldly coins on July 4th, as a little “Thanks for the trust!”.
Despite the minor road bumps, I am very excited about Yieldly’s potential and the fact that my paltry amount of Algos are working to earn me some new coinage!
If you want have some Algos burning a hole in your pocket, check out Yieldly.finance here:
Thanks for reading!