YLDR is a new Dapp that I think is interesting. Moreover, it's very early with only 170 followers on Twitter and 100 members on Discord. So, I'm writing this article for friends to try using it in its early stage.
✅ If YLDR goes far, we'll be the earliest adopters. ✅ However, one should not use their main wallet or invest too much on early protocol. Also, DYOR (Do Your Own Research).
YLDR is available on Arbitrum and Ethereum. It provides leverage for Uni v3 and borrowing through Uni v3.
Let's start with the leverage part:
Maximum leverage position is 5x.
Here's how it works:
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Choose the Uni v3 pair you want to work with and provide LP on the Uniswap website.
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Select the desired leverage position. YLDR will indicate interest rates and liquidation for us to check. Example: I tried it with the USDT/USDC pair.
Set it up as desired. We'll borrow the asset we're less interested in, for instance:
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For ETH/USDC bullish on ETH 👉 Borrow USDC
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For ARB/ETH bullish on ARB 👉 Borrow ETH
Once the setup is done, sign it. It's like sending our Uni v3 NFT to YLDR. We can check the position on the website.
It's this easy to use, allowing for very high capital efficiency. But be cautious if leveraging pairs that aren't stable.
Next, borrowing through Uni v3:
We can deposit our Uni v3 or assets like ETH, USDC into the YLDR smart contract. Then we can borrow conveniently.
To deposit Uni v3, click "Positions."
Once we've deposited Uni v3, we can see that we can borrow. Try borrowing and returning to participate.
Safety and interesting aspects:
Despite being a new and intriguing technology, we must be cautious. It's very new, and the developers aren't doxxed.
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YLDR is decentralized
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YLDR doesn't control users' assets; they can withdraw whenever.
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It's transparent; the code can be audited.
Even though it's new, it's listed on Defillama and Debank.
✅ Don't miss trying it out and use very minimal funds. Focus on participation. ✅ When using any Dapp, always install safety extensions: Safety Extension Link
YLDR's links: Discord: https://discord.gg/csrDXGzhfQ Twitter: https://twitter.com/yldrcom
Enjoy this? follow for more at @gadgeteerth @0x_nanobro
