As the crypto-sphere swells with revolutionary projects, ambitious tokens and ICOs and millions of prospective crypto investors, the need for a purpose backed token grows. This might sound like a timely idea given the hassles of investing in countless ICOs, owning many tokens and incurring little returns in the long run.
Wouldn’t it be exciting to own a trustworthy and fully backed exchangeable token instead of the thousands, maybe millions of different tokens?
How About Yield Coin From MyYield.io?
Yield Coin is a multipurpose token dedicated to a specific conglomerate of businesses in different sectors. Yield Coin is the brainchild of Samuel leach whose series of successes in the corporate environment speaks for itself. As its developers say, it will be the world’s first fully multi-purpose backed token, allegedly supported by Banking and Finance pundits.
Main Selling Points of Yield Coin YLD
Going through the entire Whitepaper, it might need some time to decipher the tons of information it has. But the success of this coin in the already saturated world doesn’t depend on its uniqueness alone. Its prevalence rides on the team’s 100 years of combined experience in both finance and technology industries. They plan to unleash various programs that would support its viability over the next three years.
Also, the internal team commands a vast network and huge social media following. Its developers will also strive to market it as a B2B and B2C coin and encourage mass retail adoption. Currently, it aims to reach over two millions people by March 2018.
As for the main areas where it will be of use, the growth-orientated token for such uses as:
- Global integration for established businesses.
- Card payment processing.
- Public investment fund.
- Multi-asset brokerage.
- Unique user GUI.
- ICO division launch.
Yield Coin YLD ICO Details
- Start and end dates: 1st March to May 31st
- Tokens available: 350,000,000 YLD
- Price: 1 YLD = $0.02
- Currencies: Fiat, BTC, ETH, ALT
- Soft cap: $ 1,500,000
- Hard cap: $50,000,000
Concerns From Critics and Potential Investors
First, the whole idea isn’t packaged like popular pump-and-dump projects or Ponzi schemes. Its major flaw, however, is the way it is poorly conceived and thus hard to convince anyone. Let’s delve directly into the flesh of this review of Yield Coin.
How the project intends to raise funds in support of its development highly depends on the network of its team. Of course, this can backfire quickly since nobody has a record of how successful it can be.
From my analysis, they propose to raise funds which will be used by its traders on inter-bank market and crypto exchanges. That’s something that everyone is already doing, and thus it makes the whole idea of using ERC-20 tokens on it.
Aside from that, Yield Coin from Myyield.io needs to answer these questions:
- Explain explicitly how this project will make profits.
- What share of the profits will be shared out as dividends?
- When the fund makes loses, will it work to recoup the losses and later pay dividends?