EarnX, a recently launched cryptocurrency, is gaining traction among investors thanks to its one-of-a-kind non-fungible tokens (NFTs) that can hold their value indefinitely.
Yearn Classic Finance (EARN) is a utility token for the DeFi ecosystem’s Yearn Classic Finance platform. Constructive Engagement, Consistency, Security, and Reliability are some of the strong values that EARN was founded on. EARN is a cryptocurrency that also serves as a platform to improve, discover, and revolutionize the financial system in today’s fast-paced world.
YearnClassic, as a Defi aggregator site, offers a traditional approach to maximizing asset yield. YearnClassic (YFIC) is the governance underpinning token.
According to their website, they pledge to provide the best way for its users to gain maximum interest rate on assets in an autonomous manner: Optimizing the earning process: enables equal and equitable neighborhood voting: Ensured anonymity and privacy in transactions: Finally, through their product offerings, they bring Defi protocols to everyone.
Their main emphasis is accessibility, user interface, anonymity, and global acceptance as a fork of yearn.finance with enhancements.
Vault, Gain, Zap, Insure, SmartWallet for successful wealth protection, and more to be revealed later, are YearnClassic’s key items.
Compound, Unisawp, Synthetix, Fulcrum, dYdX, Aave, Nuo, Balancer, Curve, and several more are some of the better Defi protocols they will be endorsing.
Project Roadmap
Following the successful launch of Yearn Classic Finance vault and EARNSwap, which marked a watershed moment for both developers and the community, they are now launching EarnX, another significant milestone in the EARN ecosystem.
EARNX would be a utility token for a new type of NFT that can hold its value indefinitely and is entirely driven by the group.
Project Tokenomics
Tokenomics is made up of the words “token” and “economics.” Tokenomics refers to a token’s ability to persuade users/investors to embrace it and contribute to the development of the token’s ecosystem.
For Project Tokenomics by Yearn Classic Finance (EARN), the tokens on BSC and ETH will be burned, and new tokens will be minted on EGLD, IOST, NEO, and Cardano after their launch. Depending on their needs, users can move their tokens to any of the chains. This process would not impact existing token holders on any of the chains.
The token’s release date has yet to be determined. After the product launch, participants can receive Yield Farming Rewards, EARNSWAP Rewards (Partnerships), Staking Rewards, and earNFT Rewards. Until the product is released, 10700 $EARN tokens are locked.
These tokens are distributed to stakeholders, NFT for earNFT designers, governance participants, and group members who contribute to the project. Before the launch of items, 1050 $EARN team tokens will be locked. These marketing and group tokens are not yet completely in circulation, but they can be expected to be awarded to various airdrops and marketing promotions at any time.
Yearn Classic Finance Farms
Yearn Classic Finance (EARN) is a utility token for the DeFi ecosystem’s Yearn Classic Finance platform. The goal has always been to make earNFT a destination NFT marketplace, with farms and pools like CAKE, governance like YFI, and governance like YFI. Governance EARN aims to be the #1 platform for everything in one location, including farms, pools, vaults, and the NFT marketplace. earNFT will be a one-stop-shop for all types of NFTs. On the earNFT marketplace, anyone can build and list their NFTs for auction or fixed-price sale. These NFTs will be minted on blockchains that the user specifies.
Yearn Classic Finance (EARN) Products can use EARN as their utility token.
EARN Token is a cryptocurrency that allows you to earn money. Starting with block 6000000 on the Binance Smart Chain(BSC) network, rewards will be distributed to farms and EARNs.
0.01 EARN token as a reward per block. Farms and EARNs split the 0.01 EARN reward per block evenly. 6000000 is the starting block.
EARNSwap
Anyone can instantly switch between BSC 20 tokens on EARNSwap, which is made possible by automated liquidity pools.
On the EARNSwap, liquidity is provided by liquidity providers (LPs), who stake their tokens in pools. Anyone who offers liquidity receives LP tokens in exchange.
EarnX and EARN unique burning mechanism
Yearn Classic will also use a burn mechanic, in which half of the regular yield provided by users staked assets will be automatically used to purchase ETH, which will then be exchanged for EARN tokens on the market. These EARN tokens will then be burned in order to help the price. Every day at 00:00 UTC, this burn will take place.
Source: BSCDaily.com
