A Look Back: YSEC’s Very Productive May 2021

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A Look Back: YSEC’s Very Productive May 2021

Jun 4
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In brief

  • Yearn Secure had a very busy month, with a number of major announcements and achievements.
  • During this time, it launched its first IDO, and as the month came to a close, it also redesigned its platform.
  • At the same time, it expanded to BSC, and it announced even more products, currently in the works.

Yearn Secure (YSEC) is bringing the first fully automated DeFi launchpad, but also so much more, as we were able to see throughout the month of May.

Following the growth of the DeFi sector and the launch of countless projects and their tokens over the past year, it quickly became clear that the sector lacks a native launching platform. Launching DeFi projects on centralized exchanges’ launchpads had to be used for a while, although it did not satisfy the needs of DeFi adequately.

After a while, however, the DeFi project Yearn Secure (YSEC) emerged, bringing the first big automated, full-service Initial DEX Offering (IDO) launchpad. The launchpad was meant to make launching DeFi projects safer, easier, and offer a number of additional benefits, such as allowing for greater transparency and visibility for would-be investors.

Now, YSEC began to expand and grow in more ways than one, working on becoming bigger and better connected throughout this past month.

YSEC in May 2021: What Did the Project Achieve?

May 2021 has been an interesting month for the crypto sector. Digital currency prices skyrocketed, then crashed, only to start a slow recovery. DeFi, which previously nearly reached $90 billion-large TVL suddenly saw it crash to $50 billion as investors started panicking. However, such a strong impact only shows how many newcomers to crypto and DeFi alike are now wandering the sector.

Experienced crypto users were likely not the ones who caused the crash, or who deepened it by overreacting. If anything, they helped the recovery by buying the dip. Instead, it was mostly the newcomers who came in such great numbers over the last year that they caused DeFi TVL to get nearly cut in half in a matter of a week. But, the recovery has already started, and TVL of the DeFi sector is now at $63.09 billion.

Yearn Secure itself saw a number of great developments during this time, such as holding the launch of the first token to ever use its launchpad — Coxena (COX). The sale took place in mid-May, and it was a great success.

Around the same time, the project also announced changes to its platform. It took a long look on its dashboard and it realized that it was missing something. It is for that reason that YSEC did a major redesign of its entire platform to make it more user-friendly, interactive, and easier to navigate.

In addition to this, the project also worked further on developing its mobile version. It is still not ready to launch, although the update is encouraging, as YSEC announced that it expects to release it relatively soon. All that remains is to finish the testing and finalize some details, and after that, the app will be ready to go live.

Another big news that emerged this month is YSEC’s arrival to Binance Smart Chain (BSC) — Binance’s second blockchain, specifically created for DeFi, smart contracts, dApps, and similar blockchain products. With its expansion to BSC, YSEC officially became a multi-chain launchpad platform for decentralized finance.

Obviously, Yearn Secure has had quite a month, with a lot of major developments happening amid the price crisis, which makes the project’s dedication that much more impressive. For now, the community eagerly awaits next updates and hints at what might come next regarding both, the platform’s development, as well as the next DeFi token to see launch over YSEC.