What is Timeless Finance? Timeless Finance is a Yield Farming platform but has many differences with similar platforms in the DeFi market. Not only does it stop at providing leverage, but it also helps users preserve their profits through their own strategies.
So how effective and optimal are the details of the strategies and products that Timeless Finance provides to users? Let’s find out with Weakhand through this article!
What is Timeless Finance?
Introducing Timeless Finance
Timeless Finance is a new style Yield Farming platform built and developed on Ethereum and other EVM Blockchains. Products that Timeless Finance provides to users include:
- Yield Boosting: Helps users optimize profits without actually participating in Farming or providing liquidity on the platform.
- Yield Hedging: Protect users’ profits against market fluctuations through project strategies.
- Yield Speculation: Speculation based on forecasting an increase or decrease in the market.
Some basic concepts
Timeless Finance has introduced to users two types of tokens: Perpetual Yield Token (PYT) and Negative Yield Token (NYT). PYT is a token that represents interest arising in the future from a certain user activity at the present time. This is the strategy of tokenizing people’s profits.
We will examine an example together: If you deposit $100 USDC into Timeless Finance, the platform will continue to deposit $100 USDC into Yearn Vault and will mint 100 PYT and 100 NYT for you. It can be said that these are two types of LP tokens that Timeless sends back to users and they can send these LP tokens to other wallet addresses or put these LP tokens into DeFi.
100 PYT represents the return of $100 USDC in the Yearn Vault and 100 NYT is 1 LP token minted when PYT was launched. If you want to get your original assets back, you must burn both PYT and NYT at the same time.
Besides PYT we will have more concepts xPYT as an automated tool that aggregates all PYT created to simplify the user experience.
Note: Holding NYT does not receive any returns generated by the underlying asset.
Timeless Finance’s operating mechanism
Besides depositing your assets into Timeless to receive xPYT and NYT (LP Token). You can use these LP Tokens to participate in other DeFi platforms or based on your own strategy to buy/sell these types of LP Tokens to optimize profits.
Or you do not need to become an LP on Timeless to use LP Token, but can based on your forecasts come up with strategies to buy/sell/hold xPYT or NYT to earn more profits. Typically xPYT is used to optimize profits while NYT is used to protect farming profits or provide liquidity.
PYT and NYT fluctuate according to Vault’s interest rates, so from those fluctuations you can make predictions with this pair of LP Tokens.
Up to now, Timeless has been audited by Spearbit.
Core Team
Update…
Investor
September 12, 2022: Timeless Finance has received investment from Angel Investors in the crypto market such as 0xMaki from SushiSwap, Daryl Lau, Pepo – a leader in the crypto market, IT DAO, Fisher8, Scott Sunarto.
Tokenomics
Update…
Exchanges
Update…
Information Channel of Timeless Finance
- Website: https://timelessfi.com/
- Twitter: @Timeless_Fi
- Discord: discord.gg/timelessfi
Summary
Timeless Finance promises to bring a new breeze to the Yield Farming segment for the crypto market. However, with a relatively complex model, Timeless will face many risks of price manipulation or smart contract vulnerabilities. However, with the presence of 0xMaki in the Angel Investor system, this may become a notable Yield Farming platform in the near future.