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"Yield Protocol is a DeFi protocol for fixed-rate and term lending, aiming to address the issue of interest rate fluctuations in existing lending protocols. It is incubated and invested in by well-known industry institutions like Paradigm, with other investors including Framework Ventures, CMS, and DeFi Alliance. Currently supported tokens include ETH, DAI, and USDC.
Yield Protocol introduces fyToken certificates for its deposit feature, allowing users to redeem the underlying assets on a one-to-one basis after a predetermined maturity date. fyTokens are similar to zero-coupon bonds, as they do not pay interest but are traded at a discounted price, and users can redeem them at full face value for profit upon maturity. For example, if you have a fyDai token, you can exchange it for one Dai after the maturity date." |
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Post time 11-10-2023 14:41:47
