Yearn Secure is a young DeFi launchpad that holds Initial DEX Offerings — a decentralized equivalent of IEOs.
But, the platform also allows users to stake their YSEC tokens and earn passive income in the form of ETH.
Yearn Secure, or YSEC, is primarily a DeFi-focused launchpad that holds IDOs (Initial DEX Offerings), but apart from that, it also offers staking.
The project has developed a Yield Dashboard specifically for keeping track of staking activity and earnings from it.
Yearn Secure, or YSEC is an emerging automated full-service Initial DEX Offering (IDO) launchpad that primarily focuses on doing what launchpads do, meaning — launching new tokens, with this one performing specifically in the DeFi sector.
YSEC recently launched its first IDO, which was quite a success, possibly thanks to the fact that it launched on BSC, in order to reach more users.
However, the launchpad is not the only thing that the project has to offer. In fact, it has an entire yield dashboard dedicated to stakers.
What is YSEC’s Yield Dashboard?
According to the project’s own explanation, the Yield Dashboard is an exciting part of their app. This is where stakers of YSEC, the project’s native cryptocurrency, can join and participate in unique tokenomics among existing launchpads.
Essentially, the project allows users to accumulate and stake tokens, and in return, they get to earn rewards. The rewards are being paid in ETH, however, which might be attractive to a lot of users, given Ethereum’s popularity and recent price surge.
The dashboard is completely transparent and very easy to use. Participants are even allowed to leave the staking pool whenever they want. However, it should be noted that the staked tokens are a bit more difficult to sell, which the project admitted, as well.
With that said, there are plenty of advantages to using this system. For example, the website explains that withdrawing tokens from the free market results in a better projection of the ecosystem. Furthermore, strong price dips occur less often. There is also the matter of scarcity, since the staked tokens are locked away, and are, therefore, not being sold. So, the active circulating supply consists of fewer coins, which can boost their value, as well as the value of the entire YSEC ecosystem.
As mentioned, the dashboard is quite transparent and rich with information. Users can see details about their staking activity at any time, including the number of tokens that they have staked, the total ETH in the pool, as well as the number of successful IDOs that were launched. Stakers will be rewarded for each product that gets launched through the platform, so the more launches there are, the more the rewards that stakers receive.
The Dashboard gets 2.5% from each successful presale, and in order for the presale to be considered successful, it has to reach its softcap, at least. The same is true for any project launched at BSC, as well as other blockchains that the project may expand to in the future. But, the best part of the Yield Dashboard is that stakers only have to stake once. After that, the rewards in ETH will be sent to them automatically, and stakers can simply continue to earn funds for as long as their tokens remain staked.