The token was listed on the two largest DEXes — Uniswap and PancakeSwap.
The project offers multiple ways of earning rewards in YDR, which users can now sell on the DEXes and withdraw passive rewards.
Indexes offer a one-time investment to own a diversified portfolio, and as such, they are a faster, cheaper, and safer way to invest into top cryptocurrencies.
YDragon, a popular cross-chain crypto index platform, recently announced listing of YDR token.
YDragon, a crypto index platform that offers yield-generating opportunities and cross-chain capabilities, just announced that its native cryptocurrency, the YDR token, is now live and available on two of the largest decentralized exchanges — Uniswap and PancakeSwap. With the listing, the token is now equally easy to reach within Etheruem’s network, as well as Binance Smart Chain.
The listing has been long-anticipated, and the project seems rather pleased that it finally managed to achieve it. The community itself has jumped on the opportunity to acquire the token, given the popularity of the project itself.
What you need to know about YDragon
YDragon’s unique combination of market-leading features allows it to offer its users a seamless, cross-chain, multi-asset experience, which enriches the crypto industry.
This paved the way for the project’s so-called B5 Index, which tracks the top 5 selected projects from multiple chains, with the only condition being that they are all listed on Binance. All of the tokens belong to popular, major projects, and have the ability to produce a high yield. As such, the index represents a great investment for users, alongside YDR token itself.
As is well-known to anyone who knows anything about investing and finances, diversifying your portfolio is the first rule of successful investing. It is never a good idea to put all the eggs in one basket, as the potential drop in the asset’s price would have very negative consequences for the investors. On the other hand, investing in an index is much safer, as it already consists of a variety of assets.
Of course, the protocol will end up launching a variety of indexes for users to invest in, meaning to lock their funds in an index and receive passive income through their smart revenue generation. The project will take care of everything else, and users are simply required to lock up their tokens and start receiving rewards.
Investing in indexes also solves a variety of problems of regular crypto investing, such as high cost fees to own multiple different assets. It also cuts the time needed to build and manage a diverse portfolio, move across different chains to buy assets, and it removes the existing complications when it comes to navigating, understanding, and using DeFi.
The importance of YDR
Of course, YDR is at the heart of everything, allowing users to buy and stake the tokens and get involved with the project’s governance, such as voting on new projects that should be added into indexes. YDR token is also a part of the BSCX index, which is part of YDragon’s long-term strategy of exposing the YDR token to each and every index that will be launched in the future.
YDR will also accumulate numerous revenue streams from fees on indexes, as well as from the yield-bearing collateral and increased exposure to the tokens locked within the indexes. Users can also farm it through yield farming and staking, or earn more of it by minting index tokens. With YDR rewards on their way, many are going to benefit from the new listing on Uniswap and PancakeSwap, regardless of whether they prefer Ethereum or BSC.