GARD Protocol Announces Staking Partnership with Yieldly
GARD Protocol team is pleased to announce a GARDIAN staking partnership with Yieldly. This partnership has been implemented to commemorate the GARD Protocol’s V2 Mainnet launch in the first week of October.
“Partnering with Yieldly is an amazing opportunity for GARD. We are absolutely thrilled to work with the Yieldly team and community as they have been champions of DeFi in Algorand and key innovators in the space. The GARD Protocol is committed to being owned by the Algorand community and this partnership will enable us to better distribute ownership of the protocol to champions of the Algorand community. We believe in rewarding Algorand and GARD Protocol supporters alike for their ongoing commitment and contribution to the ecosystem.” - Founder Rylie Rueda
The staking pools launched on September 29th, 2022 with a distribution pool scheduled to launch on October 12th 2022. Here’s a breakdown of the opportunities:
- YLDY -> GARDIAN 30 day staking pool
- GARDIAN/YLDY LP -> YLDY 120 day staking pool
- GARIDAN -> GARDIAN 90 day staking pool (Beginning October 13th)
A Closer Look At The GARD Protocol
GARD is decentralized money that is overcollateralized, may be staked to earn sustainable yields via protocol revenues, can leverage ALGOs & ALGO derivatives, and can facilitate participation in Algorand Governance via any ALGOs used as collateral for minted GARD.
GARD is an overcollateralized stablecoin similar to DAI that can be minted and borrowed against intrinsically valuable collateral. To mint GARD, users can use ALGOs, ALGO derivatives like gALGO, or ALGOs committed to governance via the GARD Protocol that would otherwise be locked in a user’s Algorand Governance position. GARD is hard money as opposed to other competing stablecoins and can now be staked natively on the GARD dApp to earn protocol revenue.
$GARDIAN Loyalty Token
GARDIAN token is a loyalty token / ASA that will be later redeemable for the protocol’s governance token, GAIN. GARDIAN will be redeemable for the GAIN token on or before April 15, 2025. There will be a total of 1,000,000,000 GARDIAN tokens minted that will be equivalent and later convertible to 5% of the total GAIN token supply (100,000,000 tokens). These tokens will be distributed by our protocol and other ecosystem partners to promote the growth of the GARD Protocol in the Algorand community. The release of GARDIAN is also a vital part of the founding team's commitment to decentralizing the protocol from day one.
GARD Protocol V2 (What’s Ahead)
Rather than only focusing on truly decentralized, overcollateralized ‘hard money’ while unlocking ALGOs that were previously locked via commitment to Algorand Governance, the team listened to feedback from users and added features that complement the more robust Algorand ecosystem. The new V2 features add tremendous value for its stakeholders and should add compelling reasons for both new and existing DeFi participants to utilize the protocol. Key features include upgrading our smart contracts, changing how fees work for borrowing $GARD, buying up ALGO/GARD LP tokens to ensure ample trading liquidity, streamlined and more fair liquidations, stablecoin staking, a web application redesigned from the ground up, the ability to leverage additional ASAs as collateral, partial repayment, tradable debt, and more.
The GARD protocol is honored to join the Yieldly ecosystem and reward both active and long term Algorand stakeholders. Yieldly was the first DeFi platform on Algorand and this shows through its vibrant and active community. We are thrilled to partner with the Yieldly community to and collaborate with the Yieldly team to promote greater success and adoption of Algorand DeFi.
GARD Protocol will continue to announce more partners, so stay tuned! We are beyond excited for our upcoming V2 launch on Mainnet and will be announcing frothy Algorand Governance incentives (shout out to the Algorand Foundation and their Aeneas Liquidity Grant program) for Period #5 as well as a ton of new ways for our supporters to continue earning and compounding GARDIAN to gain ownership of the GARD Protocol.
If you want to stay up to date with all things GARD Protocol keep your eyes on our social pages for the latest updates – Twitter, Telegram, Discord, Medium.