YfDFI, the platform that is heading towards becoming the first fully community-powered DeFi Financial Center, announced two major partnerships in the first week of 2021. According to the official blog, it has partnered with high profile crypto project Ferrum Network and xProject. Interestingly, in collaboration with Ferrum Network, YfDFI is conducting a special staking event. The event goes live today at 15:30 UTC and will inject the to-date staking fees back into the community.
In Q4 of 2020, YfDFI Finance injected the staking platform fee of over $60k USD back into the community in collaboration with Ferrum Network. It also included the re-charging of the Gigs and Rewards Wallet. Furthermore, YfDFI is trying to develop a circular economy. The reinjection of staking fees is their attempt to establish the same. Once YfDFI has developed all the products, the token holders will regularly receive redistribution of fees they have paid in the network.
Special Staking Event Details
According to the official blog, this event has nothing to do with the existing YfDFI staking platform. Furthermore, the staking platform will be available starting today. It will be live till January 23, 2021, and will offer a 10% weekly interest as a staking reward. Moreover, the locking period will start on January 6 and will end on January 23.
The staking caps at 500 YFD, and the participants can stake a minimum of 1 YFD and a maximum of 30 YFD.
New DeFi Safety Measure With xProject
YfDFI Finance has partnered with xProject and will use its AI-based product, xGauge, to introduce new safety measures to DeFi. Basically, xGauge beta is an AI-based contract validator. It will scan YFD’s v1.0 contracts for quality assurance.
Furthermore, this collaboration will ensure that YFD’s v1.0 contracts are secure. Additionally, the authenticity of xGuage in dynamic contract validation will be established. According to the official blog, xProject and its suite products will be listed on DFI.Exchange (YFD’s DEX) and DFI.Swap (YFD’s Swap). Both of these are primed for launch in Q1 2021.
YFD, the native YfDFI finance token, is currently trading at $318.85. It was initially launched as a zero-value token and, in the last 30 days, has pumped over 30%.