Does Yield Bank look like a good DeFi cryptocurrency?

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?

Swordslasher said:

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?

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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?

VSYNC said:

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?

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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