SINGAPORE, July 29, 2021 /PRNewswire/ — YIN Finance, a multi-strategy NFT liquidity management platform, has announced the launch of its testnet on July 30, 00:00 GMT, as preparations for its mainnet are finalized. YIN Finance is geared toward every type of user, allowing anyone to professionally manage liquidity using Uniswap V3, and the launch of its testnet is just the beginning.
The YIN Finance testnet will give users the opportunity to try out YIN’s unique liquidity protocols and provide valuable feedback as the project prepares for its official mainnet launch in August. The testnet launch currently allows for active management of Uniswap V3 LP positions, and more functions will officially be rolled out in August.
In celebration of the testnet launch, YIN Finance invites all community members to join. Here’s what users will be able to do on the testnet:
1. Create & manage a YANG vault
A YANG vault is a personal NFT smart vault. Users will receive an NFT for subscribing to CHI strategies and managing positions. During both the testnet and mainnet, the YANG vault is where users can perform all subsequent asset management actions. It’s basically a user’s personal treasury, where they retain 100% custody of their assets.
2. Subscribe to CHI
Once users find a CHI that suits their asset structure, they can subscribe to that CHI by depositing funds. When the mainnet goes live, this allows users to obtain liquidity and mining rewards.
**All CHI will be created by YIN Finance during the testnet, with third-party liquidity mining protocols and user-created CHI launching with the mainnet
3. Receive YIN token airdrop
After subscribing to a CHI, users will be eligible to receive YIN token through an airdrop. The YIN Finance team will randomly select wallet addresses of users participating in the testnet and airdrop a total of 20,000 YIN tokens to them. Winners of the airdrop will be announced on Twitter.
YIN token is the native platform’s official token and will allow holders to participate in DAO governance, as well as determine the amount of leverage based on the amount of YIN users hold (more YIN means a higher multiple that users can leverage).
During the testnet period, users can test these functions, participate in the project, and be eligible for airdrop rewards. When the mainnet goes live in August, after subscribing to a CHI, users will receive a share of the transaction fees, yield farming rewards, and YIN token incentives — it’s that easy.
YIN Finance’s CEO said: «I am very excited that our testnet will be officially launched on July 30. The YIN team has been doing extensive work in this field. YIN is an innovative multi-strategy protocol for liquidity management. We want to actively help our users obtain more liquidity rewards. Everyone is welcome to participate in our testnet launch. For more experienced users, YIN will soon be launching a bug bounty program.»
About YIN Finance
YIN Finance is a multi-strategy NFT liquidity management platform that allows users to subscribe to the project’s various strategies to achieve effective high-yield liquidity management. YIN Finance aims to provide proactive liquidity management services on different public chains and decentralized exchanges. Currently, YIN Finance is deployed on Ethereum and will be deployed on Polygon and Solana soon.
To sign up and participate in the testnet, please visit alpha.yin.finance.
Follow YIN Finance on Twitter to stay updated about all upcoming events and for more info on the YIN token airdrop.
For more information on the incentivized testnet and how to participate:
Media Contact: Market@yin.finance
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SOURCE YIN Finance