Crypto-Backed Loans, Simplified

The first community backed lending protocol powered by the Cardano Blockchain
Foundation

BENEFITS

No interest repayments
Let your ADA staking rewards do the work, with no other payment obligations
No liquidation events
Enjoy stress free crypto exposure with no margin calls / liquidation events
Indefinite loan terms
Take your time and choose to close your loan position whenever it suits you best

TIMELINE

Done
  • Initial protocol design & conceptualisation
  • Private feedback gathering / protocol design refinement

Done
  • Release Litepaper
  • Initiation of Smart Contract development
  • Initiation of frontend UI / UX design & development

Done
  • Community Airdrop
  • NFBO ( Non-fungible Bond Offering )
  • Partnership Announcements

Now
  • Private Testnet
  • Public Testnet
  • $CBLP Treasury Bootstrapping Event

TBD
  • External Smart Contract Audit
  • Smart Contract Open-sourced and available to community prior to Mainnet Launch
  • Official Mainnet Launch!🎉

TEAM

Sean-Ishan
Sivakumaran

Backend Developer

Brandon
Brandon
Chukwuka

Founder

Anthony
Dinino

Frontend Developer

COMMUNITY

FAQ

Can you give me a quick summary of Yamfore?

Yamfore is a non-custodial lending protocol on Cardano. Yamfore differentiates itself by offering crypto-backed loans with no margin calls or ongoing interest repayments and indefinite loan terms. Yamfore is the first community backed lending protocol, providing stress-free “set & forget” crypto-backed loans for anyone, and everyone.


How does it work exactly, who would fund the protocol with such favourable terms?

The Yamfore protocol is funded through two methods. The first method is the collection of staking rewards earned from the deposited ADA collateral of all borrowers in the protocol. These staking rewards are then exchanged to stablecoins and used by the protocol to resupply to the stablecoin treasury. The second method is the sale / exchange of the native governance and utility token, $CBLP, to stablecoins by the protocols liquidity treasury.


Are there really no margin calls, interest repayments, and indefinite loan terms?

Yes, the Yamfore protocol is fundamentally long on the price appreciation of ADA over time so the users deposited ADA collateral never gets liquidated regardless of the price action in the market. The Yamfore protocol simply operates by collecting the earned staking rewards of the borrowers deposited ADA collateral with no further payment obligations.


Ok sounds great so far, but what are the risks?

The main risk for borrowers taking crypto-backed loans through Yamfore, comes from their exposure to the native utility & governance token of the protocol, $CBLP. Depending on supply & demand, the required ADA / CBLP lending ratio could be quite high. The $CBLP token is inherently riskier than ADA due to its relatively limited use case and smaller market capitalisation. Ideally any user taking out a crypto-backed loan against their ADA would prefer the majority, if not, all of their deposited collateral remains denominated in ADA.

Although the borrowers $CBLP tokens are ALWAYS returned in full on closure of their loan position. The market value of a borrowers deposited $CBLP tokens can vary greatly from the start of their loan term, to the end of it. The Yamfore protocol is only concerned with ensuring the value of the borrowers deposited ADA collateral is of sufficient value before allowing a borrower to close their loan position and redeem their deposited $CBLP tokens. It is entirely possible for a borrower to close their loan position and be in profit on their deposited ADA collateral, whilst neutral / down in price on their deposited $CBLP collateral.


What are the tokenomics of Yamfore?

Yamfore Tokenomics


Will Yamfore be open-sourced and audited before launch?

Yes, we believe transparency and accountability are essential aspects of building any worthwhile projects. The Yamfore protocol will be open-sourced and available to the community after external auditing and before mainnet launch.