“no, we’re not the one from Mwali”, “it’s Yield, not ‘Yield App’”, “no, that one is VC’d”
Depending on how long you’ve been following Yield, you’ve probably seen one or more variations of the above (and perhaps even thought so yourself). While the answer with regards to “rebranding” has always been that we’d rather not yield Yield, the benefits currently outweigh the downsides. And so, as we head into the launch of v2 of the platform, let’s introduce…
Yes, Yield is rebranding to… Kanpeki. With the speculation of a rebrand in the last couple weeks, we’ve seen a bunch of suggestions, but most of them were a tad too on the nose with its “crypto/defi-ness”. Some musings and, in no small part, thanks to new pandemic-period interests, we arrived @ Kanpeki. What does it mean? Google Translate should offer a nice surprise. And the new logo (again)!
But Yield (YLD)?
You might’ve guessed already but the Yield (YLD) token is going to be swapped 1:1 to Kanpeki (KAE) tokens. KAE is, for all intents and purposes, practically identical to the current token save for the name and ticker. The swap will have a 45 DAY DEADLINE — November 10, 2021 (UTC), beyond which you cannot swap. After this period, several efforts will be considered and likely acted on to render the YLD tokens sufficiently useless.
If you’re a liquidity provider in ANY of the YLD liquidity pools, either on Uniswap or Sushiswap, withdraw your liquidity before this deadline and swap your tokens @ swap.kanpeki.finance. If you’re in any of the Gardens, you’ll need to unstake first to be able to remove your liquidity from Uni/Sushi-swap.
If you were using the Yield app and activated discounts, deactivate it to get your YLD back.
If you have your YLD staked in some other project’s contract, follow their guide and unstake.
After swapping, you can add the token to your wallet with the following details:
Again, there is a 45 DAY DEADLINE — November 10, 2021 (UTC) for the 1:1 swap.
The second — really the ‘main’ version — of our incentivized borrowing and lending platform will be launched after the swap deadline is over (no, not necessarily the night after). In the intervening period, we’ll use our communication channels to remind people to swap their tokens and take other steps to set the stage for the launch. What can be expected with v2?
- cheaper gas fees
- tweaked token incentive model and more utilities
- a significantly more seamless borrowing, and lending, experience aka “pooling” (it’s no longer *ahem* “pseudo”)
- launch on cheaper-to-use platforms — like Fantom and Polygon — outside of Ethereum
We will be writing an article that should give an overview of what’s changed and what’s new.
So, don’t forget to check out our new homepage over @ kanpeki.finance and, if you’re holding YLD, swap it @ swap.kanpeki.finance. And yet again, there’s a 45 DAY DEADLINE — November 10, 2021 (UTC).