VyFinancePrice

(VYFI)

VyFinance is a decentralized finance (DeFi) protocol built on the Cardano blockchain, utilizing its native token (CNT) VYFI. It aims to offer a user-friendly platform featuring a decentralized exchange (DEX), an auto-harvester, staking mechanisms (The BAR), governance, and NFT/token vaults. The project uniquely blends crypto functionality with real-world operations, supported by a proprietary trading firm. VyFinance also prioritizes user education and onboarding into the broader DeFi ecosystem.

VyFinance distinguishes itself through several key aspects. It emphasizes a user-friendly interface and employs a sophisticated distributive mechanism managed by its Auto-Harvester. Leveraging Cardano's UTxO model, it offers advanced features like one-click farming and transaction shopping carts, enhancing user experience. Notably, VyFinance was an early adopter of Plutous V3 contracts, positioning it as a fast, efficient, and technologically advanced decentralized exchange within the Cardano ecosystem. Its integration with real-world operations and focus on user education further differentiate it.

VyFinance provides a comprehensive suite of DeFi products. Its Decentralized Exchange (DEX) facilitates token swaps across Cardano. The Auto-Harvester automatically collects and optimizes farming rewards using AI. The BAR is a redistributive mechanism where staked VYFI earns a share of ecosystem fees. Users can stake NFTs in NFT Vaults and tokens in Token Vaults for rewards. Governance allows VYFI holders to vote on proposals. The platform also includes a Lottery feature, further diversifying user engagement opportunities.

The VYFI token has a total supply of 450 million. A significant portion, approximately 85%, is allocated to yield farms, with another 8% locked within the Treasury, controlled by governance. The development team receives a 2.5% share, subject to a four-year vesting schedule. VYFI is a Cardano Native Token, featuring a decimal count of 6. Tokens primarily enter circulation through yield farming, at a rate that decreases over time until the full supply is reached. A small percentage also circulates via initial allocations and marketing efforts.

Holding VYFI is crucial for accessing the VyFi Bar, which enables users to stake tokens and receive a distributive income derived from a percentage of all fees and investment earnings generated across the platform. This mechanism is specifically engineered to foster upward price pressure as platform usage grows. Additionally, VYFI holders gain exclusive access to specialized pools for other tokens within the Cardano ecosystem and are granted voting power, allowing them to participate in the project's governance and direction. The system incorporates deflationary pressures, with yield farm payouts decreasing over time and a portion of fees used for weekly token purchases, reducing circulating supply.

Yes, VyFinance has completed an initial security audit for its decentralized exchange (DEX) and BAR on-chain validators (smart contracts) by Obsidian Systems. The audit concluded with no critical or serious vulnerabilities found, identifying only lower severity items and suggestions for best practices and optimizations. Furthermore, independent security insights for VyFinance, including Skynet Scores, are also provided by CertiK, indicating continuous security assessment and transparency regarding the protocol's robustness.