YIP-05: Launch of Joint Liquidity Mining Pool with DODO on Binance Smart Chain (BSC)

Motivation As our first step on BSC, YIN Finance has reached strategic collaboration with DODO exchange to offer a dual reward liquidity mining program. This will not only bring both communities closer that benefits all $YIN and $DODO token holders, but also provide a unique way to explore the innovative solutions for liquidity management. In this way, we could attract more users to stake their assets on our platform and therefore increase the TVL of the liquidity pool in DODO. Our existing joint liquidity mining program with izumi Finance on Polygon chain achieved $7.8M of TVL, occupying around 75% of the total liquidity in the USDC/USDT pool of Uniswap V3, with APR up to 16% (updated on 16th February 2022).

Proposed Liquidity Mining Plan There are two trading pairs that will be featured in this dual reward liquidity mining program, namely USDC / USDT and YIN / USDC. Users who stake their asset will be able to earn $YIN, $DODO and LP fee. The plan will be effective for a period of 1 month starting from 21st of February 2022 at 12pm UTC. Throughout the 1 month period, total rewards are estimated at ~315k $YIN and ~105k iZi tokens. For YIN / USDC, single-sided token provision is supported. Users are able to provide only $YIN tokens. The smart contract will swap part of the $YIN token into USDC. On YIN Finance platform, users can boost their return up to 2X of APR by staking vYIN. Users can mint vYIN on YIN Finance platform with $YIN token. vYIN represents membership with YIN Finance and can enjoy a couple of privileges and exclusive rights.

About YIN Finance YIN Finance is a multi-strategy NFT liquidity management platform that allows users to subscribe to liquidity management strategies to achieve effective high-yield. The protocol is based on a decentralized financial service organization and aims to provide services on different public chains and decentralized exchanges. It is deployed on the Ethereum MainNet with budding deployments on Polygon, Optimism, BSC and Solana. YIN Finance has also secured the grant from Polygon. Considering the high growth DeFi world, the potential for financial services and solutions in this space continues to expand at a rapid rate. For more information, please refer to https://docs.yin.finance. For direct contact, please email us at market@yin.finance

https://gov.yin.finance/t/yip-05-launch-of-joint-liquidity-mining-pool-with-dodo-on-binance-smart-chain-bsc/26