Dear YIELDers,
It’s been an incredible past few weeks in the cryptocurrency space as we’ve watched the market reach new heights. As many in the YIELD App community will have likely noticed, activity on the Ethereum blockchain has surged to all-time highs, unfortunately causing the network to experience its worst-ever period of congestion. As a result, transaction, ala “gas” fees have soared, causing major issues for every network participant.
The YIELD App team prides itself on being transparent and truthful with its loyal and trusted community. Due to the recent congestion on Ethereum, we must take temporary measures to ensure the sustainability of our platform and protect our users from decisions that are not cost-effective.
The long-term potential of DeFi is very exciting, and we’ve seen the total value locked (TVL) in the ecosystem reach new highs daily. However, YIELD App’s DeFi Alpha Fund I portfolio management currently relies on the Ethereum mainchain and our platform uses ERC-20 token deposits and withdrawals (USDT, USDC, and YLD). As such, we are subject to the swings in transaction fees on Ethereum, which have risen from an average of $0.09 per transaction in January 2021, to over $20 today.
In order to manage this situation, YIELD App must implement temporary measures to manage the current volatility and congestion on the Ethereum network:
This measure is being taken to ensure the sustainability of the YIELD App’s platform and to protect our users. Current gas fees are prohibitive for depositing amounts under $100, since a transfer of $100 USDT could cost upwards of $25 alone. This is not cost-effective for our users. Our withdrawal fee has been increased to $20 temporarily, but we will reassess the situation daily. In the meantime, we are looking into several types of solutions to reduce our transaction fees.
This is a small bump in the road, and there is a lot of great news to share with you. Here are some of YIELD App’s recent milestones:
Raising our minimum deposit and withdrawal fee was a difficult decision, however we hope our community understands these are temporary changes that will be adjusted as soon as the network settles down. We thank all YIELD App users for their loyalty and understanding and welcome all feedback. If you have any questions, please feel free to reach out to us through our community channels.
Kind regards,
The YIELD App team
We are thrilled to announce YIELD App’s public launch today, Friday 12 February 2021. It’s a joy to share this milestone with you, and we would like to thank our community for its incredible support during our building stages. Although this is a big moment for YIELD App, we understand that the real work is just beginning, and we will continue to keep our noses to the grindstone to achieve the many other great things we have planned.
We are thrilled to announce YIELD App’s public launch today, Friday 12 February 2021. It’s a joy to share this milestone with you, and we would like to thank our community for its incredible support during our building stages. Although this is a big moment for YIELD App, we understand that the real work is just beginning, and we will continue to keep our noses to the grindstone to achieve the many other great things we have planned.
As we begin 2021, the YIELD App team wants to provide our community with a brief update on milestones reached, what we’re working on now, and where we’re heading. The last few months have seen tremendous developments at YIELD App, but we’re just getting started. We’re currently gearing up for huge months ahead, and believe our community will share our excitement about what’s coming down the pike.
As we begin 2021, the YIELD App team wants to provide our community with a brief update on milestones reached, what we’re working on now, and where we’re heading. The last few months have seen tremendous developments at YIELD App, but we’re just getting started. We’re currently gearing up for huge months ahead, and believe our community will share our excitement about what’s coming down the pike.
On December 14, 2020, our YLD token began trading on two exchanges: Uniswap and BitMax. The result of months of preparation by the YIELD App team, the token generation event was an important step for us, but it was only the beginning - it’s now time to launch the platform.
On December 14, 2020, our YLD token began trading on two exchanges: Uniswap and BitMax. The result of months of preparation by the YIELD App team, the token generation event was an important step for us, but it was only the beginning - it’s now time to launch the platform.
YIELD App已于2021年2月12日(星期五)正式公开发布。我们很高兴与您分享这一好消息,YIELD App团队也感谢社区给予的大力支持。此公告向大家介绍了YIELD App的存取规则、收益方式、用户验证等基本信息,也预告了未来的发展方向。尽管正式发布对于YIELD App来说已是一个重要时刻,真正的工作才刚刚开始,我们将继续努力以实现计划中的其他远大目标!
YIELD App已于2021年2月12日(星期五)正式公开发布。我们很高兴与您分享这一好消息,YIELD App团队也感谢社区给予的大力支持。此公告向大家介绍了YIELD App的存取规则、收益方式、用户验证等基本信息,也预告了未来的发展方向。尽管正式发布对于YIELD App来说已是一个重要时刻,真正的工作才刚刚开始,我们将继续努力以实现计划中的其他远大目标!