Yield App introduces Diamond+ staking program, offering 25% APY
Rome, Italy, February 21st, 2024, Chainwire
Enhanced yields will be paid in H1, the native token of Yield App-incubated project Haven1, as the L1 chain prepares for mainnet launch
Digital wealth platform Yield App has unveiled a significant expansion to its staking program. Holders of the platform’s YLD token can now earn H1 tokens through its new Diamond+ program at an APY of 25%. This initiative is set to heighten anticipation surrounding the imminent mainnet launch of security-focused on-chain finance protocol Haven1 and its native H1 token.
Yield App’s YLD token grants holders access to exclusive perks and the best earning rates on a growing range of digital assets, paid out daily.
To qualify for the maximum 25% APY, users must stake a minimum of 100,000 YLD on the Yield App platform. However, users staking amounts of YLD below this threshold will still earn a competitive 20% APY.
The enhanced rewards will be disbursed from the 300 million H1 tokens allocated by Haven1 to Yield App in August 2023. As well as offering long-term holders of YLD an opportunity to earn greater interest, the token provides an early entry into Haven1 – a Layer-1 blockchain incubated by Yield App and focused on institutional-grade security.
Tim Frost, CEO of Yield App, says: “We’re thrilled to be launching the limited-time Diamond+ staking program, which will act as the primary gateway for users looking to become early adopters of Haven1. With more than 40,000 users, 340,000 total transactions and over 1.4 million blocks minted, so far the Haven1 Testnet has been a great success and we’re looking forward to its mainnet launch later this year.”
Haven1 offers a secure environment to prevent hacks and resist the scams prevalent in on-chain finance. It incorporates a built-in proprietary provable identity framework at the network level, conducts at least two smart contract audits for any applications on the blockchain, and offers recourse mechanisms akin to those available in the traditional financial world.
A fully EVM-compatible chain, Haven1 intends to transition into an Ethereum rollup at a later stage, when this technology is more mature. It is designed to be scalable and user-friendly to facilitate the mainstream adoption of on-chain finance by both retail and institutional investors.
Moreover, Haven1 will allow third-party developers to innovate freely and create diverse applications. The H1 token, distributed through Yield App’s Diamond+ program, will serve various functions on the Haven1 network, including governance and application fees.
About Yield App
Yield App is a digital wealth platform that serves as a digital wealth partner to its customers. The company’s mission is to provide safe custody for digital assets and enable users to exchange and earn at market-leading rates. Yield App achieves this through its innovative technology that seamlessly bridges traditional and decentralized finance, offering users a more efficient and user-friendly way to manage their portfolios. By choosing Yield App as a digital wealth partner, customers can unlock the full potential of digital assets, enhance their investment strategies, and grow their digital wealth over the long term.
To learn more about Yield App, visit https://yield.app/.
About Haven1
Haven1 is an EVM-compatible Layer1 blockchain designed to offer a secure and trusted environment to drive the mass adoption of on-chain finance. Incubated by the teams behind digital wealth platforms Yield App and Coinbag, Haven1 incorporates a provable identity framework and robust security guardrails at network level to provide retail, professional and institutional investors with an on-chain finance platform that facilitates innovative use cases and closes the gap between traditional finance and Web3.
To learn more about Haven1, visit https://www.haven1.org/.