Why I am bullish on APY.Finance
Time is our most valuable and scarce asset followed by our focus. And it has been proven that those two are especially crucial when it comes to chasing profits in the crypto world. This is why I was especially interested in APY.Finance.
Yield farming space was kickstarted by Andre Cronje’s yearn.finance and has since spawned a bunch of clones as well as tweaked takes on the same basic concept. A yield farming product takes strategies or automated processes to stake and earn from a bunch of DEFI products mainly lending out stablecoins. With the proliferation of a large number of creative DEFI protocols, it has been somewhat impossible to do this manually. So usually, these strategies are decided and codified by an inner circle of people. What sets APY.finance apart is their focus on making the strategy building part more scalable and decentralized, this is critical for the long term viability and advantage over other more manual 1st generation yield farming products.
A stronger factor is the impressive team led by Will Shahda — who has a great track record of working in smart contracts and web apps. Our AMA with him at The AMA Room was a great demonstration of his deep understanding of the space and the direction of the project.
I am quite firm in my belief that the DEFI is a very robust killer app of crypto and APY.finance will be a contender in the yield farming space.
Here is my dashboard:
APY.finance has a governance token called APY and is having their IDO at https://dashboard.apy.finance/lbp with only under an hour to spare (as of posting time). If you are interested here is how it works: https://medium.com/apy-finance/apy-finance-tge-on-balancers-lbp-liquidity-bootstrapping-pool-2690dd245a16