YieldShield, an algorithmic DeFi farming platform, has announced that its platform is now live and ready for public testing on testnet.
The official announcement by YieldShield on Twitter said:
YieldShield Testnet is Live!!!
We forked the mainnet, so the app uses real world data, please follow our tutorial and test it: https://t.co/XYEulcRMjW— YieldShield (@yield_shield) April 24, 2021
Those interested in the YieldShield testnet are to visit app.yieldshield.com and also connect their MetaMask wallet. Notably, customers can only make use of the MetaMask wallet to participate.
After connecting the MetaMask wallet, the next step is to add a network to the wallet. The user clicks on “Add Network” and then adds the following info into the fields for the network:
Network Name — YS test
New RPC URL: http://3.121.197.149:8545
Chain ID: 1337
Currency Symbol: ETH
Then click on “Save” to connect the network to the wallet. Users then need to go to the YieldShield platform and connect their MetaMask wallet to the network that was just added.
To get test ETH in the wallet, users have been advised to select the “Get test Ether” button in the top right corner of the YieldShield platform. Afterward, the platform will allocate 10 ETH to the user’s account for testing.
Investing on YieldShield
Interested users can carry out auto-investments on the platform by selecting the “New Investment” button on the dashboard. This is followed by filling out information concerning:
- The amount the user is interested in investing.
- The risk level of the investment on a scale of 1% – 100%. This decides if the investor wants to “play it safe” or “willing to take a risk and get it all.”
- The gas allocation, which is the gas fee for every transaction. The amount is also transferred to the Personal Strategist.
Afterward, the user will be required to click “confirm” and then approve transactions in the MetaMask wallet.
About YieldShield
YieldShield is an algorithmic DeFi farming platform. It also brings the data analytics standards of high-frequency trading to yield farming.
Besides, the platform reportedly helps in maximizing the potential profit on yield farms. It functions with a dedicated smart contract for each user. YieldShield also protects users from risk with the inclusion of a stop-loss function.
YieldShield also allows users to create their personal robo-farmer, a smart contract that discovers new maximum gain farms and auto-sells the yield to compound earnings. As well as selecting the best opportunity while maintaining the risk parameters chosen by the user.
There is also delegated yield farming on the platform. YieldShield gives everyone interested the opportunity to access yield farming by gathering everybody’s funds together. The platform allows for secure distribution through the execution of a smart contract. Thus, it’s not only the whales who can enjoy the benefits of yield farming.
YieldShield Security Measures
The platform ensures asset distribution by spreading deposits across “unique, individual-dedicated” smart contracts. Therefore, eliminating the loopholes that hampered shared pools in the past.
The platform also carries out price monitoring via distributed oracles. Thus, ensuring a stop-loss is activated.
Additionally, codebase assessment tools are in place. They will help detect and avoid rug pulls. Quality assessment parameters are advised by the developer of vfat.tools.
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