In the constantly expanding DeFi market, we find a rare gem emerging from the blooming blockchain scene in Africa. That gem is YetuSwap, a new decentralized exchange with the potential to pave the way for blockchain users in Africa – a continent that is likely to see massive crypto adoption and innovation in the coming years.
YetuSwap is a Pan-African Automated Market Maker and yield farming-focused ecosystem on Binance Smart Chain. The word “yetu” means “our” in the Niger-Congo language family in Africa, a naming strategy perfectly aligning with the platform’s purpose. YetuSwap is a community-based project with its own governance token (the Yetucoin) that allows users to use and vote on major platform proposals and protocol changes. In other words, YetuSwap is shaped by “our” decisions.
Despites following a Pan-African theme, YetuSwap welcomes everyone, regardless of origin, to be a part of the ecosystem. Blockchain enthusiasts will be delighted to know that the unique Automated Market Maker (AMM) is the pillar of YetuSwap ecosystem, where the traditional order book is replaced by liquidity pools with an automated pricing algorithm. AMM uses the ratio of assets in a given pool to determine the asset price, thus incentivizing users to become liquidity providers and transfer their assets to these pools in order to ensure a balanced ratio. In exchange, they attain a share of transaction fees and free tokens.
Many people find the crypto market difficult to navigate because it is highly technical and different from traditional financial systems. As a result, blockchain novices might be discouraged from venturing further into the market, not to mention a majority of them are fearful of the risk of getting scammed or suffering huge losses.
YetuSwap wants to make crypto-friendly to all potential users. Its website interface is appealing, simple, and practical, with a big selection of display languages. Users will need to connect a crypto wallet to the website to interact with YetuSwap but fear not as the site offers plenty of crypto wallets to choose from.
At YetuSwap, users can swap any two BEP-20 tokens with each other. At the same time, the platform is developing a centralized exchange to allow users to pay or withdraw money in conventional fiat currencies, such as Kwanza, Euro, Dollar, or Rand.
Another special feature is the Yetu Gateway Payment. The gateway’s purpose is to facilitate the payment processes of online businesses, be it an e-commerce business, a marketplace, or an app. Through Yetu Gateway, you can receive payments in crypto, which can be processed by credit card or by the crypto exchange itself. The gateway offers attractive rates for sellers and buyers, which is a perfect crypto starter pack for traditional merchants who wish to make transactions with tokens.
Users do not have to worry about risks of scams or losses thanks to YetuSwap’s tight policy on security. The platform exercises Timelock contracts of 48 hours, giving enough time for the community to withdraw their tokens if needed and for the developers to fix the issue in case of a rug pull attack attempt. YetuSwap forms partnerships with CertiK to audit the smart contracts and with BerryData – a transparent community-veriﬁed price oracle on BSC – to work on securing data feeds.
No one is leaving empty-handed once they join the YetuSwap ecosystem. On YetuSwap, users can participate in yield farming and liquidity mining, of which the rewards are, respectively, a percentage of transaction fees and Yetucoins as additional compensation. On YetuSwap, 0.25% of all trading fees in any pool are distributed proportionately to the active liquidity providers, while the remaining 0.05% are converted back to Yetucoins and distributed to Yetucoin holders. Particularly in the YETU-BNB liquidity pool, the rewards are doubled.
YetuSwap also supports Leased Proof-of-Stake, a system that allows minor token holders to earn profit by leasing their limited tokens to full node owners.
Burning is an effective way to reduce deflation by removing a certain amount of tokens in circulation. This action drives up the token value due to a shortage of coin units in the ecosystem, thus handsomely rewarding current and future token holders. YetuSwap implements regular token burning and the process is completely transparent. The token burning hash is shared with the community and a burn schedule is uploaded on YetuSwap’s blog on Medium with details as followed:
June 22nd: Burn of 56,000,000 $YETU
June 30th: Burn of 500,000 $YETU
July 14th: Burn of 600,000 $YETU
July 28th: Burn of 700,000 $YETU
August 17th: Burn of 800,000 $YETU
September 1st: Burn of 900,000 $YETU
September 22nd: Burn of 1,000,000 $YETU
Non-fungible tokens have grown into a multibillion-dollar industry and without a doubt, are among the hottest cryptocurrency trends of 2021. Naturally, YetuSwap is jumping on this bandwagon with an NFT market already under construction and they plan to launch the market at the end of 2021. Soon, users will be able to buy and sell NFTs, many of which can bear very exciting and rare African culture traits that would become highly sought-after collectibles.
Yetucoin is the native currency of the YetuSwap platform.
Token name: Yetucoin
Token ticker: $YETU
Network: Binance Smart Chain
Smart contract address: 0x6652048fa5e66ed63a0225ffd7c82e106b0aa18b
Total Supply: 100,000,000
YetuSwap has a team of dedicated blockchain experts, with Euclides Manuel as Founder/CEO and Sérgio Fragão as COO. Manuel is the founder of the Bitcoin Angola Community, the largest and most active crypto community in Angola, while Fragão has over 10 years of experience with blockchain, specifically cryptocurrency mining hardware.
YetuSwap has rapidly reached new heights since its launch on July 21st. As of August 25th, it has a Total Value Locked of 160,000 USD, 60% of token supply burned, and the highest APY on BSC.
Catch up on the latest news from YetuSwap through the following channels:
YetuSwap centers itself on empowering the blockchain community in Africa in particular and the world in general. The platform holds a great promise of high yields from small investments because it is still in the early stages and your deposit can account for a large portion of the pools. Investors could definitely look forward to an increase in value for Yetucoins as YetuSwap continues to develop and add more exciting features.
Writers’ opinions are solely their own and do not constitute any financial advice, investment advice or trading advice.
BSC Army strongly recommends that you do your own research and seek professional advice from a financial advisor where appropriate.