YIP-02: Migration of $YIN from ETH chain to Polygon chain

Motivation YIP-02 proposes to bridge 500k $YIN to Polygon chain for dual mining program and other future incentive plans. Collaboration with izumi Finance on ETH chain has shown good traction and both parties intend to bring the dual-mining staking program to Polygon chain. YIN Finance and izumi Finance have scheduled to launch their dual-mining program at 3am UTC on 18th of January 2022. This will serve to attract the hodling and staking of governance tokens of YIN Finance and izumi Finance.

On Polygon chain Polygon chain has been growing successfully and became one of the major DeFi platforms to DeFi users. Applications such as borrowing / lending and DEX have blossomed with growing TVL, mainly attributed to the low gas fee and convenience to bridge between ETH and Polygon chains. Polygon has also attracted major investors in their fund raising and has high potential to maintain its dominant DeFi position in future to come. With the migration of 500k $YIN to Polygon as dual-mining reward will attract movement of users’ $YIN token to Polygon chain. Subsequently, this helps to accelerate the growth of YIN Finance in Polygon chain.

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