Decentralized finance platform YIELD has reported its first-quarter numbers signaling strong growth in users, assets under management (AUM), and use of its YLD token.
YIELD is a decentralized finance platform for users to invest in digital assets, smart contracts, protocols, and decentralized app. Its app and web platform enables users around the world to earn high returns from DeFi products without having to go through a lengthy, complex and often costly learning process. Operating under a banking license, YIELD offers an insured investment fund managed by a team with years of experience in FinTech and cybersecurity.
In a press release, YIELD reported that over the first quarter of the year, it registered a total of 25,602 users on its platform, with close to 800 holding Tier 5 status, which means each holds 20,000 or more YLD tokens inside their wallets. This level of YLD allows Tier 5 users to earn 20% APY on their USDC, USDT and ETH invested inside the YIELD App platform. YIELD App’s total AUM rose from six-digit figures at the start of the year to $45.7 million by the 28th of March. This was boosted significantly by the launch of the platform’s Ethereum Fund, which has seen a net total of more than 19,000 ETH with a market value of around $32.4 million deposited in the first five weeks following its public launch.
The YIELD App wallet, which incentivizes holding YLD tokens for higher APY, also guaranteed nearly half (roughly 45.2 million tokens, or 48.9% of total circulating supply) of all existing YLD tokens (currently 92 million) resided within the YIELD App platform.
Additionally, the advantage of reduced-cost ETH, USDC, and USDT swaps through YIELD App’s wallet has been recognized in over five million in-app purchases of YLD this quarter. These in-app purchases help to fuel the continued growth and expansion of the YIELD App platform, including research and development, greater products and services, and broad marketing efforts that support the YLD token and the prosperity of all YIELD App users.
“The past three months have been huge for us. We are thrilled to see nearly 26,000 users join us to earn up to 20% APY on USDT, USDC, and ETH, while our AUM continues to grow in line with our targets,” said Tim Frost, CEO of YIELD App. “We have also been working hard to widen our community through strategic partnerships and increased marketing efforts. The next quarter will see us continue all of our good work while building a bigger and better platform for our users, whose loyalty and fervor will be fully rewarded. YIELD App 2.0 is going to be a crucial stage in our development and we are eager to roll this out to our user base, not least due to the upcoming Bitcoin Fund. It’s going to be an exciting second quarter for YIELD App.”
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