Yield App Expands Staking Program with Enhanced Yields in H1 Token
Digital wealth platform Yield App has announced an expansion to its staking program. Holders of the platformโs YLD token can now earn H1 tokens through its Diamond+ program with an APY of 25%. This move builds anticipation for the upcoming launch of Haven1, an on-chain finance protocol focused on security, and its native token H1.
Key Takeaways:
- Yield App introduces enhanced yields in H1 tokens through its Diamond+ program.
- Holders of the YLD token can earn H1 tokens at an APY of 25%.
- The program requires staking a minimum of 100,000 YLD to qualify for the maximum APY.
- The initiative provides early entry into Haven1, a secure Layer-1 blockchain incubated by Yield App.
- Haven1 incorporates a provable identity framework and aims to facilitate mainstream adoption of on-chain finance.
The Diamond+ program offers exclusive perks and higher earning rates for YLD token holders. To earn the maximum APY of 25%, users must stake at least 100,000 YLD. However, staking lower amounts of YLD still earns a competitive APY of 20%.
The enhanced yields come from the 300 million H1 tokens allocated to Yield App by Haven1. This initiative not only enables YLD holders to earn more interest but also grants them early access to Haven1, which emphasizes institutional-grade security as a Layer-1 blockchain.
Haven1 ensures a secure environment to prevent hacks and scams in on-chain finance. It conducts smart contract audits and incorporates recourse mechanisms similar to traditional finance. The platform aims to be scalable and user-friendly for both retail and institutional investors.
The H1 token has multiple functions within the Haven1 network, including governance and application fees. The launch of the mainnet is highly anticipated after the successful testnet phase.
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