Glitter Finance Announces a New Partnership With Yieldly on the Algorand Blockchain
Leading decentralized finance platform Yieldly has partnered with Glitter Finance to offer a new staking pool for Glitter Finance’s utility token $XGLI to the Yieldly community.
Yieldly, the decentralized financial marketplace on the Algorand blockchain, has a suite of smart contracts that provide staking options for the Yieldly community. As it continues to build out its support for cross-capabilities, it makes sense that Yieldy would partner with protocols focused on offering easy bridging solutions for DeFi products and services.
“Yieldly remains committed in its crucial role of incentivising growth for Algorand projects and the ecosystem as a whole, with a longer term goal of bringing non-Algorand projects into the fold. We hold a unique place within the broader community and will continue to strive toward providing value-added products and services to both projects and users alike,” said Sebastian Quinn, CEO of Yieldly.
Both Glitter and Yieldly are poised to accelerate mainstream adoption with user-friendly applications, superior staking mechanisms, and access to liquidity and interoperability across various platforms and communities.
The partnership aims to drive growth and encourage mass adoption, allowing the Yieldly community to easily access Glitter’s native utility token $XGLI. It also broadens access to Algorand’s community of over 10 million users. The staking pool will be launched on June 23rd for two months and total rewards will be over 1.8 million $XGLI tokens for users who are staking. Yieldly will also provide a YLDY liquidity mining pool for users.
“We are excited about this collaboration that will offer users the opportunity to stake and claim rewards using Yieldly. Glitter’s community is steadily growing with engagement across numerous community channels and this partnership is the next step in support of the growing ecosystem,” said David Dobrovitsky, CEO of Glitter.
Glitter Finance’s cross-chain bridge comes with advanced capabilities and architecture that allows everyday users to integrate crypto seamlessly.
Glitter’s utility token $XGLI provides its holders with the ability to list a new yield farm on the Glitter Finance network. Glitter Finance is listed on Bibox and cropper.finance. Holders gain access to governance which makes them the core decision makers of Glitter Finance. Users who hold $XGLI are authorized to change the treasury fees for yield received from the re-deployment of user assets. This is a unique feature as it allows you to have the power of deciding how much revenue generated from your assets will be reinvested into Glitter Finance.
Yieldly has processed more than 750,000 transactions with more than $100 million in total volume locked.
About Glitter
The Glitter Bridge is a cross-chain bridge with sophisticated bridge capabilities and architecture. We enable the redeployment of synthetic or wrapped assets, which are then converted into integrated yield pools by the Glitter Bridge. We also link it with artificial intelligence (AI) and machine learning (DLN), which work together to boost deposit yields. By doing so, we produce a profit for the trader, where previously there was none, and we propel mass adoption by cooperating with them to assist them in trading successfully.
About Yieldly
Yieldly is forging a seamless, borderless, and interconnected DeFi ecosystem on the Algorand protocol. Its mission is to empower users to exchange digital value without the friction, cost, or security risks that other blockchains expose users to. Yieldly is backed by some of the top investors in the blockchain space because they believe Yieldly’s product suite, which includes a no-loss lottery, staking and bridge products, and eventually an AMM/DEX, will all open the door to a broader multi-chain universe through our cross-chain compatibility.
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For more information, visit Y7 Marketing’s official website and LinkedIn page as well as Glitter Finance website, LinkedIn, and Twitter.
