The developers of Yearn Finance announced that new DeFi products can be shipped on the FTM channel.

Andre Cronje, founder of the DeFi (Decentralized Finance) Fiscal Year (YFI) protocol, announced on Twitter on the 6th that new DeFi ve (3.3) products will be released. The first generation coin project is designed for their future potential and explains how to assimilate the participants.

Andre Cronje explains from the middle that the DeFi protocol token mechanism is similar to Curve. The Token market is committed to securing the veTokens with the right to offset the interest rate on the mining pool. Token advertising decreases every week and the number of veTokens The more tokens there are, the fewer tokens are declared. Additionally, veToken can be used as an NFT to address the uncertainty of asset locks by operating in a secondary market.

For example, Andre Cronje thinks first product of 20 million chips and first round of 2 million. When 0% of the tokens are closed with veToken, the weekly turnover is 2 million, when the token is closed with veToken, the weekly withdrawal is 1 million, and when 100% of the tokens are closed with veToken, the report weekly becomes 0.

A feature of the contract is that it encourages users to sign and lock tokens, thereby reducing total release, thereby promoting early access and blocking late arrivals. Import.

Andre Cronje remarked to Medium: Think of a week of 1 million, total assets of 20 million, and fixed assets of 10 million. This means that 1 million new tokens will be issued, promotions and items increased by 5%. Our aim is to ensure that the veToken bin is not diluted, which is why the veToken bin has also increased its uptake by 5%.

Sites can interfere with Defi2.0.

Andre Cronje has yet to announce the product on ve (3.3), and it can be seen that the LOGO announced on the official site is considered strong. However, it should be noted that the latest version (3.3) is often used as a meme to interact with Defi2.0 (OHM, etc.) by users, so the project will affect Defi2.0 etc. Liquidity as a Service (LaaS). ), it will be the Defi2.0 product specification which will provide a stable and stable combination with the product speculation.

According to “CryptoSlate,” the upcoming plan includes some changes to the Criminal Code game which are popular via DeFi 2.0 Olympus DAO protocol and launched by Curve Finance Combination of Acquired Hosting Concepts.

Should be distributed to Phantom Chain

It should be noted that this new DeFi product can be shipped to the Phantom blockchain. Because Andre Cronje announced on Twitter on January 1 of this year that I will be launching a new beta of Phantom Blockchain this month.

Wonderland creator Daniele Sestagalli announced on the 5th that he and Andre Cronje will herald the next generation of Fantom. We start here and always come back to this ecosystem and the technological advancements that make me who I am today.

Daniele Sestagalli was born out of several popular rights, including the release of Wonderland from the Avalanche channel, the fork of the Olympus DAO Stability Algorithm Protocol, and the subsequent release of the Stability Lending Protocol. Abracadabra, a Popsicle Finance multi-revenue pooling platform, among others.

Andre Cronje is best known for developing Yearn Finance, the DeFi protocol, while also developing custom protocols inferior to Keep3r V1. 3-4 years.

The token market shared by Andre Cronje on the 3rd indicates that for the upcoming new project, the tokens will be distributed 100% to the public community. Available as a drop.

Another possibility is that the new position interferes with the metaverse or NFT. There is no doubt that Fantom recently raised $ 370 million in support of the mining industry for its GameFi project.

According to data from DeFiLlama full chain stable (TVL), Phantom's ecosystem has recently seen success and its total value chain (TVL) is now a record high of $ 5.81 billion, ranking 6th on the chain. public and close to the chain. On the 7th, the total closing value of the channel increased by 26.9%, taking the first place among 6 public channels.

According to data from CoinGecko, due to the growth of the ecosystem, Fantom (FTM) has grown by over 70% in the last 30 days, and also increased by 30% in the last 7 days. FTM is currently trading at $ 2.73, down 1.1% in the past 24 hours.