YEL New Year Resolution
Part 1 – 2021 Reflection
This article is written by the whole core team as a part of our New Year Resolution. The first part that you are reading reflects and summarizes our 2021. The second part tells about our 2022 plans.
It was a fun year for all of the DeFi users. The market went ATH followed by some big dumps. We found out what Evergrande is, became experts in coronavirus, know that printer can work 24/7 to print some USD (and -T as well). Generally speaking this year was pretty harsh, but we have all made it with a lot of new knowledge and more users on board while adoption is only rising.
For Yel Finance it was a first-year to operate. While we were writing this article we understood that we are operating for only 7 months, while we feel like we are already here for a couple of years. The time passed by soo fast.
Let us summarize our 2021 in numbers.
What did we achieve in 2021 in numbers?
Let’s look at some key numbers and statistics for these 7 months:
- we sold 35,000,000 YEL tokens during the 3-day IDO;
- hosted 15+ different farms on Spectre;
- at one moment YEL price went up 1800% per day;
- gained 35,000+ users with 750,000+ transfers executed over 4 chains;
- created a unique innovative product called Equilibrium or simply the first automated farming and yield management contract, operating on 3 chains, with a total of 9 vaults, using at least 18 strategies, monitoring 50+ farms and APY reaching up to 7000%;
- based on a real case scenario, we saw that Equilibrium is generating roughly 7–9% fees for the protocol per month from the TVL. What is awesome, and now we just need to raise awareness and build more strategies;
- gathered a community of approximate 30,000 mad scientists called “Yellers”;
- 2 official audits, approximate 10+ internal & partner audits, 200 hours+ of testing by the team lead to 0 security breaches;
- partnered with 15+ projects;
- 1 surprise CEX listing that was not planned (thanks, HotBit);
- team members successfully survived this year with: 5 covid cases, 100+ daily DMs “wen airdrop/lambo” and inability to sleep cause they are bullish on their work too much.
And that’s just the main numbers. Overall, YEL has proven that there is no need for VCs , backers, whales, etc. Honest team and good work are the keys. A lot more to come soon™
As this article is written by the core team, we won’t give credits to ourselves. Our best credit is having such community, mods, and partners, altogether named “Yellers” on board with us.
First and foremost we would like to thank our community. The community is who made us work harder, cause we knew we could not let those people down. This is all for you guys.
When we said goodbye to 2021, we set back and recalled some cool moments of 2021 spent with our community that made a smile on our faces, like:
- “wen airdrop” performance by a local legend Cathello followed by NFTs created by DvD dedicated to this story;
- “do what you want with that info” alpha received;
- a misconception that DvD is a bot (we still think he is);
- being joined by a whole diaspora from Brazil (obrigado e vamos!);
- our OGs led by h_walls have made and operate a separate YEL Community Twitter account; and
- a lot of other happy moments (there are just too many of them, maybe we’ll do a separate article for that once).
Special thanks to all OGs who supported us from the very beginning. You guys are as mad as we are!
DvD, Gruad, Mayank, Batista, Legnar7, EAsports, Poopster — without you we would not build such a community around our protocol, as well as your input and feedback, are really valuable for the whole community. Thank you guys for this amazing year!
One of the undercover differences between TradFi and DeFi is that in TradFi you need to “knock the door” 500 times, have a lunch at some fancy restaurant to talk about some random stuff for an hour and get to business for 5 minutes, while in DeFi you get into the DM, talk about crypto and ways you can benefit your communities for 30 minutes, and get the synergy you need.
We are grateful we could find our synergies with such partners: Polygon and Fantom teams; Spooky Swap (attn: EarieEight and OwenP); Spirit Swap (attn: whole team); ApeSwap (attn: DK); SushiSwap (attn: GoldenNaim); Harvest Finance (attn: whole team), QuickSwap (attn: Tylor), Pickle Finance, Beefy Finance and to all others.
In conclusion, that was a hell of a year for all of us. Yel core team wishes you all the best in 2022, please, take care of yourself, and stay safe.
To find out our 2022 plans, please, read part 2 of this article.
P.S. The whole team is soo fucking bullish for 2022. Gonna be a heck of a ride! Fasten your seatbelts, ladies, and gentlemen!