Contents
I. Introduction | II. Yamfore ( Peer to Pool ) | III. Conclusion
I. Introduction
The Cardano DeFi lending landscape is about to witness a significant evolution as we at Big Blymp unveil the latest iteration of Yamfore, simply titled: Yamfore PTP (Peer to Pool).
Our team has been working diligently behind the scenes to create a more comprehensive lending ecosystem that caters to diverse user needs. While Yamfore has established itself as a trusted protocol in the Cardano ecosystem, our vision has always extended beyond niche lending scenarios. We’ve consistently aimed to expand our market presence and develop a more robust, comprehensive lending solution.
This expansion marks a pivotal moment in Yamfore’s journey as we transition from a single-protocol platform to a dual-protocol ecosystem. The existing protocol, now known as Yamfore Classic, will continue to serve its dedicated user base while working in harmony with our new Yamfore PTP solution.
The combination of these complementary protocols represents a significant step forward for the Yamfore ecosystem, enabling enhanced lending options and greater flexibility in managing assets.
III. Yamfore Peer To Pool
Yamfore PTP draws heavy inspiration from successful pool-based lending protocols like Curvelend, implementing a similar approach to lending and borrowing. The protocol employs a governance-free model where everything is governed by code, enabling a true free market playground where suppliers have full autonomy in deciding where to allocate their capital. However, our implementation introduces several innovative features that set it apart in the DeFi landscape. The key features and architecture are as follows:
Capital Efficient Liquidity Pools (CELP)
A cornerstone innovation of Yamfore PTP is the introduction of Capital Efficient Liquidity Pools (CELP). This sophisticated system optimizes pool utilization through a dynamic interest rate mechanism that responds to usage patterns. It aims to maintain pool utilization between 70% — 80% at any given time, maximizing the capital efficiency for borrowers and suppliers while keeping an adequate safety margin of standby capital for withdrawals.
This system ensures efficient capital utilization by discouraging excess deposits while maintaining responsive interest rates that naturally balance supply and demand. The result is a self-regulating ecosystem that maximizes capital efficiency while protecting against extreme market conditions.
Isolated Pools
Each lending pool operates as an independent entity, pairing a single borrowable asset (any CNT) with a stablecoin as the supply asset. This isolation minimizes cross-asset risk exposure and simplifies interest rate calculations, as each pool operates independently to maintain clear risk boundaries.
One-Way Market Structure
Yamfore PTP implements a unidirectional market design where users can only supply a stable asset on one side and borrow against their deposited Cardano-native assets on the other. This intentional constraint promotes concentrated liquidity and enables efficient price discovery within each pool. Importantly, the design prevents users from simultaneously acting as suppliers and borrowers within the same pool, reducing complex interactions and potential vulnerabilities.
Customizable Risk Parameters
Pool creators are empowered with significant flexibility in defining their risk and return profiles. Through an adjustable Minimum Collateralization Ratio (MCR) and a selection from predefined interest rate curves, each pool can be tailored to specific market conditions and risk appetites. This customization ensures that the protocol can accommodate a wide range of lending strategies while maintaining security. Pool creators also select the interest rate curve of the pool, choosing between three interest cost levels: low, medium, and high. Depending on the perceived risk of the asset, a higher interest rate might be worthwhile, and vice versa.
Governance-Free Architecture
We’ve made the deliberate choice to eliminate governance mechanisms, resulting in a streamlined protocol that reduces potential attack vectors and maintains true decentralization. This governance-free approach ensures that the protocol remains faithful to the “code is law” principle, eliminating governance-related vulnerabilities while enhancing protocol reliability.
Tokenomics and Sustainability
A key aspect of Yamfore PTP is its tokenomics structure, specifically its interaction with the existing $CBLP token. The protocol has been designed with sustainability in mind, implementing a fixed 20% fee on all generated borrower interest, which flows directly into the CBLP treasury. This mechanism ensures long-term protocol sustainability while providing value accrual for CBLP token holders.
Under this system, interest payments follow a clear distribution model: suppliers receive 80% of accrued interest in a stablecoin directly, while the remaining 20% flows to the Yamfore protocol treasury in CBLP tokens. To illustrate, when a borrower generates $100 of interest, $80 is distributed to suppliers, with the other $20 paid in CBLP tokens ($20 worth of CBLP at the time of the transaction) to the protocol’s CBLP treasury.
III. Conclusion
There’s much more detail and many exciting aspects of Yamfore PTP to share, but for now, we’ll leave you with just a taste. The introduction of Yamfore PTP alongside Yamfore Classic represents more than just a protocol upgrade — it’s a testament to our commitment to building a comprehensive DeFi lending ecosystem. By maintaining both protocols, we’re ensuring that users have access to the best of both worlds: the novel, completely passive, non-liquidatable loan protocol they’ve come to trust, and the more ubiquitous, pool-based system that opens new possibilities, bringing in more value and growth for the Yamfore ecosystem.
The launch of Yamfore PTP is scheduled for the first half of 2025, though we cannot provide more specific timing at this stage as we continue to prioritize security and getting things right the first time. With the careful consideration and thoughtful feature set we’re building on top of the already robust Yamfore lending protocol, we’re confident that Yamfore can and will become a notable leader in the Cardano lending and borrowing sphere.
Main Links
🌐 Website: https://bigblymp.com/
🐦 Twitter: https://twitter.com/bigblymp
🗣️ Discord: https://discord.gg/FK5qtrmRE7
💻 GitHub: https://github.com/BigBlymp
✍️ Medium: https://bigblymp.medium.com/
💬 Reddit: https://www.reddit.com/user/bigblymp
✉️ Email: contact@bigblymp.com
