The Renaissance of Yel Finance. Part I — Redefining Our Foundations

Greetings, Yellers.

We’re excited to give you a sneak peek into the future and recap the past four months. Long story short — Yel Finance is entering a new era. For a long story please read all 3 parts of the Article.

And yeah, long time no see, Yellers. This part is written by your long-term friend Archy.

New Core Team

Yel.Finance switched the core team 4 months ago. The new team consists of Archy, Argentari, and Yeloper. Archy, who previously worked as a BizDev at Yel, has returned after two years of addressing personal matters. He has been involved in crypto since 2017, working as a legal advisor and business developer. You may know Argentari from Monolend’s team. He started in 2017 as a regular user and later transitioned to working in DeFi as a BizDev. Yeloper, our lead Solidity developer, is new to the community. Before joining DeFi, he was an entrepreneur and developer in an IT product company. Pool Day and Unknown are project’s stakeholders and advisors.

Yield Enhancement Labs -> Yel Finance R&D Laboratory

Same brand, but new meaning. The era of Yel Finance as Yield Enhancement Labs is over. There will be no enhancement as we started with. We want to leave that behind and start a new era with a new core team.

The new meaning for Yel Finance is as an R&D Laboratory focused on smart and real yield. DeFi has evolved, users have become more sophisticated, and products are increasingly complex. We aim to stay in tune with the market by focusing on smart and real yield, which is still lacking. Our R&D Lab approach emphasizes analytics, research, lean methodology, development, and innovation.

Why didn’t we rebrand entirely? There are two reasons: (i) our community strongly identifies with this brand, and we wanted to honor that connection; (ii) I personally insisted on keeping the brand, as it holds sentimental value to me.

The only thing that will remain and be restored are our Mad Scientists, because… they are cool.

Strategic Vector

At Yel Finance, our mission is to become the leading DeFi aggregator of smart and real yield products. We aim to simplify DeFi, maximize user returns, and develop innovative solutions that meet market needs.

In our Protocol’s further development the new core wants to focus on:

• Real Yield — sustainable returns via robust yield farming strategies;
• Smart Yield — optimizing gains with advanced algorithms and efficient asset allocation;
• Chain Abstraction — simplifying cross-chain interactions for seamless user experience;
• Omnichain — ensuring interoperability across multiple blockchains;
• Automatization — streamlining processes with automated systems to save time and increase accuracy;
• AI Integration — using AI for data-driven decision-making to enhance yield strategies.

We are revisiting the protocol’s roots while adding innovative concepts. Each concept will be integrated step-by-step according to a specific timeline.

What can you expect from us with this strategic direction? Initially, we will focus on implementing existing DeFi concepts with added value in the short- and medium-term. In the long-term, we will develop our own innovations.

New Products

This year, we will release two new products: Potions and Equilibrium 3.0.

Potions is a volatility mining product. It will also include side products such as Wrap Market and Arbitrage Opportunities. Part II of the article is dedicated to Potions.

Equilibrium 3.0 will focus on smart leverage farming. More details about this concept can be found in Part III.

New Tokenomics

As you may know, we have migrated YEL and liquidity. Now, YEL is a cross-chain token available on 9 chains, powered by Axelar. We do not plan any further token emissions, and the total supply at the moment of migration is set at 280,739,085 YEL, decreasing due to our burning mechanism in Potions. Thus, the YEL Token is now deflationary.

Moreover, where suitable, our products will implement buy-back and/or burn mechanisms for YEL. This will support its price by reducing supply and increasing demand, thereby stabilizing and potentially enhancing its value over time. These concepts are already embodied in Potions, which buy-back and burn YEL.

YEL holders can also utilize their YEL tokens by wrapping them in lYEL Potions to earn Holder’s APR.

The YEL Token will serve as a utility and governance token. Its planned utility functions include granting access to features and side products of the platform (e.g., arbitrage opportunities). Additionally, each YEL Token grants a vote in our governance.

Community Development & Governance

As we embark on this new era and conduct our ideations and analysis, we’ve realized that our community is one of our greatest assets. Many community members have been with us since the IDO and have remained active and supportive, even during challenging times. We deeply appreciate this loyalty.

While not explicitly stated, our community embodies several key principles: proactivity, respect, knowledge, self-development, and collaboration. All our internal communications will be designed to support these principles.

Moreover, all our team actions will prioritize the community’s best interests. “Community First” is the new team’s guiding principle. Our community will be informed of our actions before anyone else, with our OGs being the first to know. They are our early testers, best advisors, and biggest supporters.

Yel Finance was initially intended to be a DAO governance project, and we are returning to that vision by creating new infrastructure for effective governance.

Final Remarks

As a final remark, I’d like to share a message I sent to the community when we launched Potions on Blast:

“So, guys, today is the day when we launch potions on Blast. It’s the start of a long journey back on top. Don’t expect that we gonna pump today 100X. Still a way to walk.

Think about it like reaching the Everest summit. You don’t just come to the Himalayas and do it for 1 day. It’s a long way on top, that takes months of different preparations, acclimatization, setting all the camps, waiting for a weather window, and much more actions before reaching the summit.

Making a parallel, we already set a base camp with our new team, and today we are setting camp 1. Still a long way to the top, but the vector of the development and processes are right.

We are going to the summit, ladies and gentlemen!”

And, I am glad to be back, frens.

Your Archy Wyields.