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HomeCOINSWhat Is YFBitcoin (YFBTC)? Complete Guide Review About YFBitcoin.

What Is YFBitcoin (YFBTC)? Complete Guide Review About YFBitcoin.

What Is YFBitcoin (YFBTC)?

YFBitcoin is a fork of SUSHISWAP v1 with a combination of Uniswap DEX v2, Instead of Food, New DeFi version of Legacy coins, BTC & ETH to start. YFSwap native token is YFETH. YFSwap is an automated market making (AMM) decentralized exchange (DEX) currently on the Ethereum blockchain. Unlike other protocols, YFSwap is a community run project that is governed by vote of the community. YFBTC is an alternative to mining BTC through liquidity mining via stable bitcoin wBTC and renBTC. This provides users the opportunity to HOLD BTC & get YFBTC. The First DeFi Project backed by the fundamental success of Bitcoin protocol combined with the success of YFI.

YFBitcoin Storage Key Points

Coin BasicInformation
Coin NameYFBitcoin
Short NameYFBTC
Circulating Supply8,695.00 YFBTC
Total Supply21,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Rewards

When farming, farmers will receive a new distribution of YFBTC with every block. In the first genesis month of launch the rewards will be 0.026 YFBTC per block, divided by the proportional share of the pool. The exception to this was the “YFBTC Party!” pool which had an additional 2x bonus.

After the first month the reward is set to drop to 0.00052(estimated) YFBTC per block which is approx 5x lesser than first genesis month. The APY calculation is based on the return in ETH to the daily USD value, based on current block return annualized. It is not a fixed return, it is not a promised return, it is not financial advice. It is based on ETH returns.

Uniswap

YFBitcoin transaction will provide you with some “UNI-V2 LP” tokens in your wallet. These are Uniswap LP tokens and represent the share you’ve deposited in the pool. All pools are labeled as UNI-V2 LP but represent different pools. You will now see your liquidity when you proceed to yfswap.finance to do yield farming.

Why is YFBTC farming site different from YFSWAP?

Similar to how Binance has Bakeryswap (Binance Dex is BinanceSwap), Tron has Sun.io ( TRX Dex is Justswap.io) is & EOS has dmd.finance ( EOS Dex is Defis.network). YFBitcoin is a unique farming reward linked to BTC that is fully decentralized to allow the project to gain value mainly from its linkage to BTC. This is similar to how each of the mentioned projects above gain value from their linkage to their respective tokens. BNB to bakeryswap, TRX to sun.io & EOS to DMD. YFBTC holders may also be applicable for future airdrops of future projects of YFSwap.

Why collaborate with BITTO?

BITTO is an established blockchain company since 2017, and the issues with many of the current DeFi projects is that they are anonymous. So most of them will disappear before even coming out with a proper Token. YFBitcoin wanted to provide more reliability and confidence for the community. Contracts and audits are also done as much as possible to ensure the lesser potential for contract abuse and bugs.

What is the usage of YFETH?

YFETH is native token for YFSWAP, which will earn from the future fees made through YFSwap Dex exchange. The more transactions that are done through YFSwap Dex, the more fees earned that will be converted to buying YFETH. Giving constant value to YFETH.

  • YFETH automatically farms the safest stable yield available from the newest DeFi protocols, and optimizes the yields that are received using the latest farming techniques. These yields are then used to BUY YFBTC & YFETH to increase its value and reduce its supply by burning the YFBTC & YFETH bought.
  • The MORE funds are locked, the MORE the BUYBACK, the MORE price increases.

Why is there a deflationary function in YFBTC & YFETH?

Many inflationary protocol are meant to drop in price continuously because the amount of tokens are minted every 15 seconds causing a huge amount of tokens to flood the market. SUSHI & UNI are good examples. To mitigate this constant inflation, YFBitcoin will implement burning deflationary to provide balance with sustainable LONG TERM value. YFBTC has a deflationary function via smart contract that will automatically burn 5% of each transfer. This will mean that receiver will be getting less than 95% back from the original 100%. That is the slippage.

Nile
Nile
Nile Is Very Old Author At Wootfi Blog . We Loves To Write About Altcoin , ICO & Defi . In Free Time He Loves To Play Football .