While lots of NFT utility protocols have stormed the DeFi industry to make the space more fascinating and efficient for enthusiasts and users, Yieldification has emerged as an innovative DeFi NFT protocol set to provide the industry with exclusive utilities.
Yieldification (YDF) is an exciting DeFi NFT utility protocol that incorporates both established and innovative concepts to integrate NFTs in unique ways that haven’t been seen before. With YDF, you can expect familiar ideas implemented in new, practical, and imaginative ways alongside brand-new, innovative concepts exclusive to the YDF platform.
The innovative protocol provides users access to a world of opportunities to explore the potential of NFTs in DeFi, unlike anything else that currently exists. The platform’s innovative approach means that you can expect to find a range of new applications for NFTs that have not yet been explored and new and creative ways of using existing NFT concepts.
YDF has introduced a unique staking model that allows users to earn yield while locking their YDF tokens. In addition to the commonly used concept of staking, YDF offers an NFT as the “certificate” or “receipt” of the stake deposit, which holds the keys and all metadata. This NFT enables the owner to claim the yield generated and can be transferred or sold to another party to transfer the stake ownership. As a result, stakers can realize profits on their original investment without waiting for their stake to unlock, creating a new market for yield-bearing NFTs.
Meanwhile, to offset all emissions created from staking, YDF has built-in revenue-generating utilities, including futures trading, a custom-built NFT marketplace, and an over-the-counter (OTC) trading platform. Futures trading allows users to open perpetual long and short positions against individual assets and custom-created indexes represented by NFTs. The NFT marketplace enables users to trade their stake NFTs along with other NFTs, collecting fees as revenue. The OTC platform offers pools and packages for trading various assets and types of assets directly with one another, with low fees and zero slippage.
The trick behind YDF’s outstanding mechanism and what sets it apart from other platforms is its partnership with other crypto projects to integrate its OTC platform into their websites through white-labelling. Users can visit their trusted project’s website to utilize the shared OTC platform, benefiting all parties involved. YDF has made integration easy with its custom-built white-labelling process, enabling any project to fully customize the OTC platform integration to include its own branding and style preference