Does Yield Bank look like a good DeFi cryptocurrency?

[Swordslasher]

They are building what is essentially a massive DeFi crypto bank with loans where LP tokens can be used as collateral, decentralized margin/futures trading, and a bunch of other features. It looks like a more complex version of Aave, It also has a 2 token system where the price of the main token (yB) is supported through burning/buyback mechanisms. What do you think of it?

 

[Deleted member 1333509]

They are building what is essentially a massive DeFi crypto bank with loans where LP tokens can be used as collateral, decentralized margin/futures trading, and a bunch of other features. It looks like a more complex version of Aave, It also has a 2 token system where the price of the main token (yB) is supported through burning/buyback mechanisms. What do you think of it?

A more complex version of Aave sounds like a pain in the ass to be honest. You want a less complex version of whatever platform it's being modelled on.

What would you say is the biggest USP that Yield Bank has over DeFi projects already in existence?

 

[Swordslasher]

A more complex version of Aave sounds like a pain in the ass to be honest. You want a less complex version of whatever platform it's being modelled on.

What would you say is the biggest USP that Yield Bank has over DeFi projects already in existence?

It's more complex in that it offers more options for you to manage your crypto. With Aave, you can deposit a few select cryptos and take out loans- there are no other options. Yield Bank lets you deposit your LP tokens and take out loans using them, which is a major feature that Aave doesn't have. The coin itself, yB, is supported through several mechanisms like buyback/burn/tax strategies. I can't list everything so just go to their website if you want to read more, it's http://yieldbank.finance