Ethereum Yield (ETHY) is a protocol exclusively created on the Ethereum blockchain. The protocol intends to support the yield farming of cryptocurrency for higher gains. Ethereum Yield employs ETHY as the project's primary token. The crypto-token utilizes smart contracts and strategies to reward users with increased APY or annual percentage yield. APY refers to a yearly rate of return with interest accruing on the growing balance. Ethereum Yield encourages users to hold and store ETHY tokens while earning additional interest on the pooled funds.
According to the document, ETHY is a deflationary cryptocurrency. Excessive minting of crypto coins can cause a drop in the value of ETHY. Deflationary implies a cut-back in the supply of ETHY coins over time. The protocol enables users to continue staking and farming ETHY tokens for better earnings. Users can put their tokens in various liquidity pools to win more returns. Ethereum Yield features EVaults that mainly function as staking and farming pools. The EVault is specifically designed to execute strategies for maximizing revenues on the deposited liquidity providing tokens or ETHY. The vault runs price protection strategies ensuring the optimum value of the crypto asset.
ETHY is a community-driven cryptocurrency, also playing the role of a governance token. All holders and users staking ETHY in liquidity pools can vote and decide on matters like developer charges, website design, farming options, and more. The protocol introduces an additional transaction fee when trading ETHY tokens. These charges are used to keep the bots and whales at bay, which might affect the asset's price. Whales refer to users or entities holding large counts of ETHY. By controlling the majority of funds, whales can potentially create a negative impact in a decentralized finance (DeFi) space. A portion of the charges are distributed as rewards among farmers holding the tokens.
Ethereum Yield features a Binance Smart Chain (BSC) bridge with a vision to support the seamless transfer of ETHY across blockchains.
