BaseYield, tools for defi users. Find out more about this new ecosystem and direct access to its website.
BaseYield is a Decentralized Finance (DeFi) Yield Optimizer project, that helps users to earn more of the cryptoassets that they love through the magic of autocompounding.
Open-source DeFi applications aim to be permissionless and trustless, meaning that anyone can interact directly without the need for a trusted middlemen. By keeping all code public and verifiable on the blockchain, anyone is able to verify how DeFi works and bypass the need to trust that a service is safe.
BaseYield leverages these characteristics to deliver hundreds of yield opportunities from across the ecosystem to users in a safe and decentralized manner, through one simple-yet-beautiful interface.
Through its battle-tested vault and strategy contracts, Base Yield maximizes the rewards available to users from liquidity pools (LPs), automated market makers (AMMs), and other yield farming opportunities. It does this by automatically claiming, swapping and redepositing rewards, unlocking exponential returns through autocompounding. By automating the process, BaseYield saves time, increases efficiency and circumvents the user risks in manual yield farming, to offer a substantially better experience.
In sharing gas fees and aggregating volume, BaseYield’s contracts are able to compound (or harvest) rewards far more frequently than users can, meaning much yields. Overall, BaseYield offers a huge advantage to users when compared with farming manually yourself. It’s a simple win-win formula.
BaseYield differs from other DeFi yield optimizers and aggregators in a few key ways:
- BaseYield’s vaults are primarily “single strategy”, meaning optimizing just one yield farming opportunity, rather than diluting yield across multiple opportunities. Safety
- Safety is BaseYield’s number one priority. All of our products are run through rigorous safety standards.
- Base Yield directly distributes platform revenue back to users who stake $BAY in our governance pools. Its
- Its ecosystem offers unique strategies that can’t be found elsewhere, and is often the first to market with new and exciting yield farming opportunities.
- Base Yield maintains an enormous network of recognized partners, and has a stellar reputation in the community for its safety and professionalism.
What is $BAY?
The BaseYield token (symbol: BAY) is a smart contract which records the holdings of $BAY tokens among our community of token holders. The purpose of $BAY itself revolves are two core use cases:
- Project Governance – holders of $BAY can vote in the BaseYield Snapshot Space on all of our governance matters, at a rate of 1 vote per token (including fractional amounts)
- Stakeholder Incentivization – through holding the $BAY token, the project can incentivize the participation by stakeholders in the project and protocol with governance incentives paid
What are the tokenomics of $BAY?
BaseYield prides itself on having some of the simplest tokenomics in all of Web 3.0:
- There are 200,000,000 $BAY tokens, as determined on deployment of the token contract. The
- The contract provides no further ability to mint and no officially burn functionality.
- There are no plans or obvious means to change the token’s functionality or add additional tokens to our governance system.
- Initial Liquidity: 5%
- Listing Price: 1 $BAY=0.005 USDC
- Team: 5%. Locked for two years
- Marketing: 2.5% Airdrops and bribes
- Rewards and Emissions: 90% 300,000 daily emission at first year. Reduced to half every next year.
- No frills. No gimmicks. What you see is what you get.
What is a strategy?
BaseYield strategies are modular smart contracts which direct the user funds deposited into Vaults towards liquidity pools and farms in order to generate the yield which BaseYield compounds. Where sufficient rewards have amassed in the strategy contract for BaseYield to profitably reinvest them, the strategy executes the compounding workflow, which automatically claims the rewards, swaps them for the principal assets and redeposits them into the liquidity pool and farm.
Strategies are the core product which of BaseYield’s protocol, as – unlike the vault contract – each strategy is generally unique. Because each strategy involves a different combination of assets, pools, protocols and chains, each requires individual testing to ensure it is working as intended before it can be pushed into production.
As strategies are the component of a BaseYield Vault which interact with external protocols, they are also the component which contains exposure to extrinsic risks beyond BaseYield control (e.g. flaws of the contracts of other protocols). Because of this, strategies contain additional functionality to respond to extrinsic risk, including the ability to withdraw all funds from third party contracts to be held safely in the strategy or halt the operation of all of the contract’s functions.