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Yieldly is bringing DeFi to Algorand. Yieldly aims to revolutionize the exchange of digital value by making it swift, simple, and secure. They are setting industry standards for blockchain transactions. The Yieldly DeFi ecosystem is built on the Algorand blockchain and consists of four key pillars. Firstly, Yieldly's purpose-built smart contracts enable developers to easily create staking and rewards systems for ASA tokens (Algorand Standard Assets). This allows for various use cases like yield farming, NFT distribution, and social rewards systems. Secondly, Yieldly has developed the first no-loss lottery that utilizes Algorand's rewards system to distribute aggregated rewards to users, unlocking deep liquidity. Thirdly, Yieldly will release a cross-chain token bridge in June, enabling the swapping of ASA YLDY for ERC-20 YLDY, making it accessible for anyone to experience the benefits of DeFi on Algorand. Lastly, Yieldly will build bridges to expand pathways for ASA native token holders, attracting new users and increasing liquidity on Algorand. Once the smart contracts are implemented and liquidity flows into the network, Yieldly will unite the ecosystem through an automatic market maker, potentially propelling Algorand to become a leading DeFi protocol.
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