TEN finance's revolutionary new index process, YIELDEX, aims to change the landscape of yield farming.
Singapore, Singapore--(Newsfile Corp. - November 8, 2021) - YIELDEX, which TEN finance launched on October 10th, aims to alleviate issues associated with yield farming and liquidity pools, such as impermanent loss. The goal of TEN Finance is to simplify the DeFi landscape to increase user adoption and make decentralized finance more mainstream.
YIELDEX enables investors to easily place their assets in multiple liquidity pools to reduce the risk of impermanent loss and diversify with a single click. In DeFi, yield farming is an incentive-based model in which investors deposit assets in a liquidity pool to earn rewards. YIELDEX is designed for the BSC (Binance Smart Chain) ecosystem, one of the world's largest DeFi ecosystems.
Indexing and organizing different tokens are quickly becoming a trend in DeFi, and YIELDEX is the first index to focus on simple access to liquidity pools, indicating TEN Finance's level of innovation.
YIELDEX would also increase the diversification of yield farming portfolios by eliminating the time-consuming and labor-intensive process of manually investing in and out of pools. During the launch of YIELDEX, Mr. Ten, the face of TEN Finance, was quoted saying, "I think YIELDEX allows for the simplicity of the yield farming process. This is based on my experience with yield farming on Sushiswap and Uniswap over a year ago, which I despised!" Aside from earning a yield, investors would also receive $TENFI tokens, TEN Finance's native token.
Users can invest in multiple LPs with YIELDEX. Each YIELDEX has a subset of constituents such as stablecoins and altcoins. It automates the entire yield farming process, eliminating the need for users to buy individual assets on different AMMs.
By strengthening the TEN Finance ecosystem and driving value and stability, the YIELDEX mechanism provides additional benefits to TENFI holders by creating natural demand for its native token TENFI. In addition, YIELDEX charges a 1% deposit fee, which can be paid in BUSD or BNB, and there are no withdrawal fees.
The development of YIELDEX is a critical component of TEN Finance's primary goal of simplifying decentralized finance and lowering entry barriers. YIELDEX is a game-changer for the BSC ecosystem and the entire DeFi industry.
If you want to learn more about TEN finance or YIELDEX, please contact them through the following channels:
Contact details:
TEN Finance
contact@ten.finance
Website: https://app.ten.finance
Twitter: https://twitter.com/tenfinance
Telegram: https://t.me/tenfinance
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102456
