BiShares: The week in review & BISON updates
It wasn’t too long ago that Co-Founders @DeFiVlad and @allthingsNFT started building a technologically advanced platform for dETFs (decentralized Exchange Traded Funds) in the DeFi space. With the help of amazing team members such as @eznika, @ivoragnor and a very hard-working dev team, we are gaining the trust of very large chains and offering solutions to very complex issues DEX’s are now facing.
In this article we will review some new products we have launched, upcoming metaverse news as well as farms, Fantom Opera network updates, audits and updated roadmap.
Acceptance into the Blockchain Metaverse Alliance:
Thank you to the CEEK and BMA team for putting their trust into us as well as the rest of the board for allowing us into this alliance! We have so much to build together!
Our rise in price this week didn’t come from nothing — BiShares is entering the metaverse by partnering via YBFs on some of the hottest metaverse tokens in BSC! This partner fund will be a YBF of the underlying tokens and each will also have its own farm giving rewards in their native token offering yield on yield rewards! Right now the fund stands at 5 tokens to start. Each month after the 30-day farms are complete, a new fund will be launched with more metaverse tokens in it. So the growth of BiShares partners will be robust and ongoing, and expansive.
The Yield Bearing Funds:
The following diagram depicts a simple way of looking at and understanding how the YBFs work.
How do YBFs work?
BiShares newest product, Yield Bearing Funds (YBF), will create LP (Liquidity Provider) tokens which will be deposited into multiple farms at the same time. An auto compounding token that represents the user’s position will be minted. After a minting occurs, our contracts will buy all the required tokens, create and deposit them into a LP token and then in the underlying farms. As yield is earned the contract will automatically sell the rewards to auto compound the position, thus increasing the original LP position. When a user wants to collect earnings, they can simply unstake their position. There are no deposit or withdrawal fees, the only fee incurred is a 3% of each daily harvest which is used to buy back BISON.
Zap in and out!
All the YBFs will be available to zap into all the farms with just one transaction using a single asset like BNB or FTM. What would require users a lot of time and transactions, is done in one easy step. You can also exit directly into any approved single asset including an emergency exit into stables in case of market volatility.
The YBF-DEX currently has $500k+ TVL. Many whales are awaiting the audits as we expect TVL to grow dramatically within the next month on the entire platform.
This fund is currently giving 120%+ yield and you can stake it on our farms as well for another 250% APY.
Our farms have a new look! The new UI is officially integrated into the funds page so there will be no need to toggle on a different window for the farms. Devs are always working hard!
Our fantom YBFs will launch this week giving the fantom community a chance for yield on yield growth into their top tokens. More info on the exact make up of these funds will be distributed when they are 100% ready.
At BiShares we are as transparent as it gets. Below you will find the direct link to the Team Wallet. At 170,000 Bison, we have not sold 1 token yet! In fact, we are here for the long term building what we think are infrastructural liquidity protocols for the largest DEXs and in the foreseeable future, institution inflows. Our wallet emissions are over 5 years!
The second picture below shows the block start and stops. We are here for the community as this gets transitioned into a DAO.
Please use this link to see the Team Wallet.
We are proud to announce that we have distributed $14.000 for last month in BISON staking rewards straight to wallets in the form of BUSD. Stakers get rewarded not only in BISON rewards but also in BUSD, double rewards! As the platform grows, so will the staking rewards. The link below shows the distribution made today.
Solidity: Wednesday November 24th
Other Highlights and recap:
- BSC Wallets increased by 150%
- TVL is growing Steadily $6+ Million
- BiShares admitted to the Metaverse Blockchain Alliance
- Cultivating another major BSC partner