A message from the team
As many of you know, it has been a rough few months for our community and for the team as a whole. After experiencing a series of unfortunate issues, attacks, and setbacks and we’re finally ready to announce our V4 contracts.
We also want to say thank you to our community for sticking with us and providing their input towards the future of YELD. You’re all amazing and we are excited for what’s to come.
What has changed in V4
We are excited to bring you our new v4 contracts have a few changes that will ultimately benefit the platform an our community.
- All vault contracts have been updated to block any external contracts attempting to interact with our contract. This blocks all bots and the potential for flash loan attacks to happen in the future. This is huge, we suggest that all projects adopt a similar solution.
- All vault contracts now require a user to hold a minimum of 15% of their desired stake amount in YELD tokens to stake stable coins in our vaults.
- We have increased the unstaking fee from 1% to 5%. That fee will be allocated as follows. 2.5% to supply Retirement Fund, 1.0% to the Buy and Burn Function, and 1.5% towards the YELD Treasury for future vault emissions and further development.
Also, we have upgraded the contracts vault fee functions allowing the team to adjust and reallocate these funds if any reappropriation of fees are needed.
We are planning to release a new private beta for our v4 contracts on Jan 21, 2021. These contracts will greatly improve how our product functions and protect the future of YELD.
A small group of users will help us to battle test these new contracts as we aim for an official launch of Feb 1, 2021. Please remember that these dates may change as potential issues, or bugs could arise introducing additional development time.
What does the future hold?
Now that’s a great question and we are hard at work determining what the future holds, and the direction for the YELD platform. After the v4 launch we will be outlining a full roadmap and upcoming events calendar which we are excited to share with all of you. There are some exciting times ahead!
Special Shout Out!
We also want to extend a special thank you to Tony from http://try.finance for lending a hand and helping write the code which protects against future flash loan exploits, and additional enhancements to the contracts. Tony is an amazing individual who just wants to help people in need within the DeFi space, which is what it’s all about. Tony, thank you again! 🍻