The crypto world has experienced insane growth in the last few years. Well known crypto, such as Bitcoin and Ethereum, have propelled crypto investing to become more widely accepted and closer to becoming mainstream.
With this rise brought the introduction of layer 2 protocols, or blockchains for hosting crypto transactions. BSC, Polygon, and Solana, to name a few, sought increased efficiency and reduced gas fees compared to what the ETH blockchain provided.
Another blockchain, Fantom, was developed and benefitted from similar growth. With Fantom’s recent launch of its FTM Incentive Program, Fantom has seen a growth of 600% TVL and 300% daily transactions and active users (source). With this insane growth, new projects seek to take advantage of it. One such project, Fastyield Finance recently launched on Fantom and sold out their $FAST supply within two minutes. What an incredible achievement. Let’s explore Fastyield Finance more in depth to understand why investors jumped on this token.
Fastyield
Fastyield is a yield optimizer, which enables yield aggregation for holders and users of FAST token. To facilitate automation of the yield farming and the process of compounding, Fastyield uses vaults. Vaults also enable a more efficient utilization of gas, as well as other automated processes, and use different yield strategies to help users grow their assets through automation.
Fastyield has an optimal compounding strategy with an efficient pricing model, designed to encourage long-term yield farming and provide appropriate incentives for long-term holders. Thanks to the automation factor in the process of yield generation and compounding, users don’t need to manually reinvest their staking rewards, but can rely on automated asset growth by simply making a deposit into a Fastyield vault. FAST holders also don’t need to have extensive knowledge of the underlying protocols that support automation and yield optimization, while depositing funds to vaults represents a passive investment strategy.
Fastyield rewards its users with FAST token This additional layer of interest further accelerates returns. The goal is to increase the initial value of assets deposited by users, similar to how crypto hedge funds work, with minimal involvement on users’ end.
Features
$FAST Tokenomics
FAST is a governance token native to the Fastyield platform. FAST token’s utility is as an incentive for users to deposit their assets on Fastyield. Vaults users are getting a bonus yield with FAST token.
FAST maximum supply cap: 856,864
FAST total pre-mint: 100,000
- Presale: 60,000
- Initial Liquidity: 20,000
- Marketing/Development: 20,000
- Total FAST farming emissions: 756,864
- FAST farming duration: 365 days
- FAST public farming emissions:
- 0.02 FAST per second (1,728 FAST per day) public farming emissions
- FAST team farming emissions:
- 20% emissions to Dev team to ensure essential growth of Fastyield Finance
- 0.004 FAST per second (345.6 FAST per day) team farming emissions
Fees
Fastyield charges a small withdrawal fee to help prevent front-runners and vault jumpers. All fees collected will be used for marketing and to fund further development of the protocol.
Withdrawal Fee: 0.1% This fee is calculated on the total withdrawal amount.
Performance Fees: 4% total performance fees on every harvest:
- Buy Backs: 2% of every harvest is used to market buy FAST, which is sent to the Burn address.
- Marketing/Dev fund: 1.8% of every harvest is sent to the marketing and dev fund.
- Caller: 0.2% of every harvest is sent to the contract caller to compensate the gas used for the transaction.
ZAP fee: 0.05% fee for creating LP with ZAP feature.
Vaults
Fastyield uses vault strategies to optimise your yields. Their contracts will add LP tokens to the underlying farm, harvest pending farm rewards, swap farm rewards to the tokens required for liquidity, add those tokens to the liquidity pool, then redeposit into the underlying farm. Automatically, multiple times a day!
In addition to the automated process optimizing your yields, Fastyield rewards vault depositors with an additional token. That’s right. While liquidity is being auto compounded, depositors will also earn FAST token. Giving you not one, but TWO layers of interest. Launch your yields with Fastyield today!
Roadmap
In the first few months of launch Fastyield aims to achieve the following:
- Deploy boosted vaults for multiple yield farms across Fantom network
- Upgrade our one click LP creator (ZAP feature) to support stable coins, allowing more options for our users
- Upgrade our one click LP creator (ZAP feature) to allow users to un-ZAP their LP in one click
- Expand our educational section in content and translating to several languages, helping users around the world
They have several cool ideas for the long term. Governance and revenue sharing via dividend pools have been discussed for when emissions end, but they would love to hear from the community before confirming any plans. They’ll be running polls and having discussions about the best direction for Fastyield so pop into their telegram and share your thoughts!
Security
Security is top priority at Fastyield Finance. Our contracts have been audited pre-launch to ensure our users are safe. Fastyield Finance smart contracts have been audited by Ether Authority and Hash0x. The audits can be reviewed here.
Conclusion
Fastyield Finance certainly brings many benefits to the Fantom blockchain and investors. With their yield optimizing and high multiplier, the rewards speak for themselves. With the recent launch of their farms, the $FAST token has more utility than ever. The fact that they were audited also eases the minds of investors.
The largest and most compelling reason why Fastyield Finance sold out in two minutes was likely due to hosting their IJO (Initial Jet Offering) with JetFuel Finance. With how influential JetFuel is in the crypto space, the trust with the project was definitely higher.
IJO Information
The initial offering for FAST token was on Jetswap’s IJO launchpad on the Fantom network, using the First Come First Serve model. In the FCFS (First Come First Serve) model the sale will end once the hard cap of 60,000 FAST is sold. The sale will last for 12 hours or until all the FAST tokens are sold. FAST will be listed at Fantom Jetswap with a listing price of $9. 20,000 FAST will be paired with $180,000 of FTM to provide initial liquidity.
Overall, Fastyield Finance’s $FAST emissions are game changing to the Fantom ecosystem. By staking tokens, the more rewards investors can earn. For more information, please check out their socias below.
Socials
- Twitter: https://twitter.com/fastyieldapp
- Telegram: https://t.me/fastyieldapp
- Website: https://fastyield.app/
- Medium: https://medium.com/@fastyieldapp
- Docs: https://docs.fastyield.app/
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