The increasingly booming DeFi industry and the advent of yield protocol have led to highly innovative projects to leverage the market hype. One of such innovative projects is the Ultrasafe yield protocol. Ultrasafe is community-driven, with a frictionless protocol.
The project is built on the Binance Smart Chain, and due to its highly secured protocol, the Ultrasafe community is continuously growing.
Most people join the community to reap the rewards of the frictionless yield protocol and the price appreciation of the token. As the advent of decentralized finance offered people a new approach to investing and fund management, a lot of risks arrived with that freedom.
Projects like Ultrasafe provide its users with the freedom of investing and wealth management of DeFi, without the rug pull risks involved. The project is built to offer a strong degree of security. It consists of a completely renounced contract, locked liquidity and it does not have any mint function.
The Features of the Ultrasafe Yield Protocol
The increasing growth of community users of the Ultrasafe platform is likely due to the great features created on the platform. These features include the following:
The superior security feature is one of the major reasons while the Ultrasafe yield protocol’s community has experienced massive growth. Its contract has improved from the initial contract the protocol was derived from. The team was able to remove some of the lines of code to ensure exclusivity of ownership. They were able to eliminate the possibility where ownership can be re-acquired even after renouncing the contract. Such a situation would have given some people an opportunity to exploit the Ultrasafe protocol. By removing those lines of code, the token was made more secure and is truly community-driven.
Ultrasafe has also acquired two separate audits from independent and reputable firms to ascertain the safety of the contract. Solidity Finance and Certik conducted the audits. They both certified that the contract is safe and secure for users.
The continuous and simple provision of liquidity
Another captivating feature of the Ultrasafe system is the way and manner in which liquidity is provided. Ultrasafe charges a transaction fee of 8%, but every half of that fee (4%) is sent to liquidity. This process creates an increasing price floor while also helping to reduce the price impact of selloffs. An automated function such as this helps to ensure there is continuous provision of liquidity in a more and better user-friendly manner.
Passive income generation
As half of the fees go into providing continuous liquidity, the other half is reflected back to the holder of the Ultrasafe token. Therefore, these holders enjoy a passive income for their holding of the token. This is a good way through which the yield protocol incentivizes its holding and encourages more people into the community of holders. Such frictionless yield will be immutable, and the Ultrasafe holder will continue to receive 4% of every transaction without ceasing. By doing this, the yield protocol ensures that passive token generation will not be dependent on constantly changing APYs.
Here, the system actively rewards Ultratoken holders and discourages selloffs. As investment compounds, long-term holders will reap larger rewards.
The Ultrasafe Token ($Ultra)
The token will both serve a utility and governance purpose within the Ultrasafe yield protocol. It has a fixed supply of 1 quadrillion, and the breakdown is as follows:
- 25% of that amount goes into presale to raise liquidity.
- 5% will be used for marketing.
- There will be a 30% token burn, and
- 40% initial liquidity.
In as much as there have been different audits confirming the safety of the Ultrasafe yield protocol, users need to be careful and do their due diligence before joining the community. The project is relatively young, and as pointed out by Solidity Finance, the team is soft doxxed only.