May 24th, 2022 at 1:00 pm UTC · 3 min read
YOP Finance, the DeFi interface that lets users earn passive income on their crypto assets, is now live for all users. Following a highly successful private launch, this will be the first time all users will be able to use the platform. Users can take advantage of the YOP vaults and earn passive income on their crypto with APYs as high as 65%. The platform is designed to be intuitive and extremely easy to use, removing any barriers to entry for the average investor to earn passive income that were earlier available to only a select few.
Since its public launch, the platform has already reached over $1Million in TVL, with $600,000 being locked in the first 72 hours. The YOP vaults will initially have increased caps to enable a large number of users to invest and earn passive income on their digital assets.
The YOP Finance vaults were launched to all users on 4 May 2022, where users could head to the vaults app and start depositing their crypto. Users can access the Vaults by depositing either stablecoins or wBTC and wETH.
The YOP vaults are a combination of multiple strategies put together with different weights to offer maximum returns while reducing risk exposure. Using smart contracts, these vaults continually reinvest earnings, compounding returns and achieving maximum yield for investors.
While the platform already offers high base APYs, users can unlock even higher returns with YOP’s booster feature. Users simply have to stake $YOP tokens in the YOP LockBox to increase earnings. The higher the stake in the LockBox, the more significant APY boost each user gets. The Boost is in the form of a multiplier x1 — x10, which applies to the Reward APY, which is above the base APY of the vault.
Post a successful launch, Barry Downes, COO of Pluto Digital, the parent company of YOP, said:
“YOP makes participation in a complicated area of crypto simple and accessible for all giving people the control, insights, and flexibility all from a single application. Now anyone can start staking their crypto and start earning a passive income with a click of a button.”
YOP Finance offers an opportunity for passive income to anyone looking to make returns on their crypto without having to deep-dive into the world of DeFi. Removing the redundant jargon and extra clumsy UIs, the YOP platform makes investing and earning simple for everyone. The platform is secured by an in-house team of security specialists and audited by industry-leading crypto entities.
The team behind the YOP platform is a transparent and deanonymized mix of seasoned builders with crypto natives. The team combined has decades of experience building simple yet effective products that can shape the future.
As the public launch concludes, YOP is excited to bring more features to its investors. With the $YOP utility token, investors can enter a rich ecosystem that offers stellar APYs and much more.
For more about YOP Finance and its new passive income focussed platform, visit their main website here. Check out the YOP app. Follow YOP on Twitter. Contribute to the YOP conversation on Discord. Join the YOP community on Telegram. Connect with YOP on LinkedIn. Read the YOP blog on Medium.
Disclaimer: YOP Finance is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.