YIELDNYAN: DeFi on Binance Smart Chain | For cryptocurrencies and CATS lovers

in Project HOPE6 days ago (edited)

Hello Community, I hope you are all very well, this time I bring to you a publication that will undoubtedly be a little long, but I will do it with all the intention that you can see in detail the process of this business model within the DeFi (Decentralized Finance) environment.

In this case I am talking about YIELDNYAN.COM, it started to work and it really comes with everything. Many are wondering what benefits DeFi brings to those of us who are in the Crypto world, stay with me until the end of this post and know what you need to know to enter to earn. Besides, I want to say that all DeFi projects work in a similar way, and if you learn to operate in one, you will have a path to understand the others, now yes, let's start.


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Imagen edited /Source / Bitmoji APP

This project is based on Binance Smart Chain (BSC), the reason why it is in BSC and not in Ethereum, for example, is basic, first the speed is much higher, and something important, the cost of transactions is much lower, this alone is already a great advantage.

I should point out that this DeFi System is paired with Binance's crypto, BNB, which by the way has had a great increase in its price in recent days, in addition to occupying an important place within the crypto market capitalization. Backed by the world's leading exchange house, which leaves us with a little more peace of mind going in.

Well, how do we start trading in this system?

The first thing we should do is go to the following page, which is the main one.


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In this one we see in first instance what we can do: STAKE, FARM, ADD LIQUIDITY... to proceed we must click where it says Connect (upper right border), to connect this platform with our wallet. But wait a minute, which Wallet?..... Do not despair, follow step by step what I present and you will not have any complications, let's go to the next image.


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SourceSource/My Wallet

  • Image 1, when you click on connect, it will show you those Wallets options, from which you must choose one. I have in my PC Metamask and Wallet Binance Chain, this last one was the one I used. If you don't have any of them, it is very easy to download them to your PC, like Browser, if you don't know how to do it, here is a link to a tutorial on how to do it

  • Image 2, chrome web store, where you can download your Binance Chain Wallet from.

  • Image 3, Wallet appearance, like any other, has the possibility to send and receive different cryptos. This is a crypto wallet that you can use in the Binance Chain, Binance Smart Chain and Ethereum.

The next step would be to have balance in the wallet, in this case I made the BNB transfer from Binance, with the intention of being able to operate in this DeFi YIELDNYAN system, and show you the steps in detail.


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Already having balance in the Binance Chain Wallet, the next step is to connect the wallet with YIELDNYAN, very easily. Click on connect.


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Afterwards click where it says Wallet Binance Chain.

The image on the right will appear, in which we must authorize by clicking on connect, and ready, process done, this way we can have access to our funds from the Yieldnyan. platform.

At this point it is important to keep in mind the following: when we are going to add liquidity in any DeFi project, always go in pairs, ie, there will be two tokens, one that is the project and another that is usually a currency of the most popular, in this case there are options to pair with Bitcoin, Ethereum, EOS, among others how BNB, which was the one I used in this opportunity.

I have BNB in my Wallet, so I need the other component of the PAR, and it is the NYAN coin, then it would be the pair NYAN-BNB LP. This currency (NYAN) I buy it on the platform directly, I pay it with BNB.


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It is really very simple to buy NYAN, on the left side edge of the platform there is a tab that says trade, being there you get to SWAP, which is where you will make the purchase, very quickly, choose the currency you want to buy, and in seconds, after performing the processes of the images that I show you, you will have the NYAN.

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As you see in the image above -pointed with arrows-, it has NYAN and BNB available, I suggest that, if for example you transfer for this investment 20 dollars in BNB, use half (10 dollars) to buy NYAN, and the other 10 leave them in BNB, since the NYAN-BNB LP pair should be in similar amounts.

We are almost ready, but we still need to have the currency pair, because we have it separately. Sorry, but at the beginning of the post I said it would be a bit long, and I hope it will serve as a guide for all those who want to enter the project with investors.

Let's easily convert our currencies into the NYAN-BNB LP pair.


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In the same place where we buy NYAN we are going to convert them into the pair. Just click on "LIQUIDITY, then select BNB at the top and NYAN at the bottom. And that's it, we have our currency pair.

Next and last step to start earning passively:

Make STAKE of our pair of coins in a mining farm..

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We go to the right side of our screen, where we will see the word FARMs, click there, and then on aprove contract. We continue with the next step. Which is to confirm, as seen in the image below.


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And that's it, the process is finished, from here on what we have to wait for is for it to start producing our profits automatically. In the following image you can see that I started mining at 4.44a.m on February 18th of the current year, and at 4.53am I already had a profit of 0.547 NYAN, just after 24 hours of having started the process, which represents approximately 10% of my initial investment...


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Now yes, I HAVE CONCLUDED, I hope this post will be of great help to all of you. I will leave below some links where you can have more detailed information about this project:

Note: this is not financial advice, DON'T FORGET TO DO YOUR OWN RESEARCH BEFORE INVESTING.


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This is a very nice and detailed explanation of the YieldNyan platform. With this, my curiosity has been piqued to try out this new platform. Hope it can be done with mobile device (phone)?
Thanks for sharing buddy. Have a nice weekend

Hi @samminator, Wow, that's a feature I don't know. I don't know if it can be done with the phone, but I will find out. Thanks for commenting

Very good explanation to be able to have savings in these platforms, the process may seem cumbersome at first but it is very useful and helps to save. Thank you for sharing this information that is truly very good.

Yes, of course, everything has its nuances, I am still testing the whole protocol, but so far, after 3 days of testing everything is going really well.

Very well explained for those who wish to take advantage of this business opportunity. I don't think there are any doubts about how to connect and operate in it.

Thank you for commenting. These types of posts take a long time to make, but I think it is necessary, because it is part of the education in cryptocurrencies that we all need.

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Thanks for support

Greetings my friend @josevas217, certainly very didactic the way of presenting the material. Although I have no knowledge about it, I will try to evaluate the pros and cons of this type of investment after making the respective bibliographic consultation. Thanks for the contribution

Yes, the best thing to do before entering into any business is to be able to review everything, to be as sure as possible of what you are dealing with in order to make the most of it and minimize losses.

I find it very interesting although it is a bit long article from my experience is better that things are well explained especially the first time we try to do something, I really like this kind of projects and profitability is great " excellent contribution".

Hi @trabajosdelsiglo
Yes it really is a very long post, much longer than I usually do, but in this case it was hard not to if I really wanted to explain the process well.

Thanks much for the explicit information well detailed i will be trying it out thanks much.

Good Luck Bro
This is pretty good

Thank you, yes, that's right, although recently low in price, you just have to be patient and make a profit.

Hey there :) Interesting post... Help me out a bit... is this something like PancakeSwap, just with another name? There you can also trade and join liquidity pools and so on. Or is this something else?

Hello @unbiasedwriter, sorry for the late reply.
It is similar to Pancakeswap, the truth is almost the same, you can join liquidity pool, of course, you can also join farms, as I did in this post. It has no lottery, only pool and farm, at least for now, and the APR is still very good.
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Currently the price of the NYAN token has dropped, it was at 4 dollars, but now it is at 2.9, because of the drop in BTC also affected this token.
I have already withdrawn some of my winnings to my wallet, so yes you can withdraw your winnings.

Thanks for your reply and for your answers! :)

Greetings dear friend @josevas217, thank you for sharing with us this type of information, of utmost importance for those who wish at some point to enter this type of investment.

The explanation is very detailed, if I need your help I will not hesitate to write you. See you soon !

Hi @amestyj, thanks for commenting, of course yes, anything you can write

Hmmm really interesting and detailed explanation but I was going to ask if it could be used on a mobile phone and I realized that @samminator asked the same question. Have a great week friend

Even that is something I don't know, whether or not it can be used on phones, but I will find out.

Hi @josevas217 - this is a great article. I have tried DeFi elsewhere but hadn't seen this project. Having it on Binance chain does seem like a big advantage because of the transaction cost and speed. Your instructions are well documented and clear - I will give them a go when I find time and have bookmarked your page for later.

Have a !wine on me for your efforts.


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Hi @awah, thanks a lot for the support, good that you already know DeFi, I'm sure this project will be easy for you to understand.

hi dear friend @josevas217
First of all let me congratulate you on the way you did the post, you are one of the best content creators that I currently read, the image of you with the cat surprised I loved it adds heart to the publication and is very explanatory, I hope soon to join This initiative that you explain I also want to win, thank you very much for sharing such valuable information.
greetings

Hi @ramsesuchiha for those words, it's good to know that you have good esteem towards my work. I hope you can join the project, there are many similar, but what I have been able to see is that when they start the APR is very good, as in this case.

This project is based on Binance Smart Chain (BSC), the reason why it is in BSC and not in Ethereum, for example, is basic, first the speed is much higher, and something important, the cost of transactions is much lower, this alone is already a great advantage.

Yes these two are major advantages of binance smart chain fast transaction andmost important thing is less transaction fees. Anyway thank you for sharing about YIELDNYAN and i will look into it. ☻

Thanks for the comment, indeed, maybe later on, it will evolve much more, and we will be able to use more BSC than Ethereum.

Thanks for your detail post about yieldnyan platform. Hope that it will be another great options.

For now everything is going quite well, although with the drop in the price of BTC also the price of the BYAN token dropped, but it is part of the dynamics of cryptos, thanks for commenting.

I was going through this but its wacking my brains. I tried to see if Binance Chain wallet integrates with that Pancakeswap and Venus, it does not.

so after reading all that thoroughly another DEFI project, not having the peck up to try it.

Indeed, MEtamask Hodling of cryptos looks necessry even in binance chain based projects. I am not able to try even one DEFI protocal as of now. I don't think I am ready.

Plus I need more information on the team who created the DEFI protocal first and Pancakeswap I get no details on who are the people who created that protocal.

But audit of a DEFI smartplatform contract seems necessary, no details on all that.

It's too much for me to farthom now.