Spool Rebrands as Yelay, and Launches The Yield Layer
The new protocol is packed with updates and partnerships that will deliver fresh value to digital assets through yield
In a move aimed to shake-up the decentralised finance (DeFi) industry, Yelay—formerly known as Spool—has launched The Yield Layer, a modular infrastructure for builders that enables the creation of yield-funded products across e-commerce, experiences, rewards, and more.
For over four years the company, backed by Faculty Group, has been expanding the functionality and number of blue-chip DeFi integrations for its tech. With over 40 partnerships like Morpho, Lido and Curve, the company is on the precipice of becoming the worldwide leader in enabling the creation of yield-funded products.
Yelay is capitalising on the growing trend of crypto investors who are increasingly holding onto their purchased digital assets for longer periods of time—a shift that’s very much still in its early stages, with only around 15% of on-chain crypto stablecoin assets currently earning yield. With this number so low, Yelay is tapping into the opportunity for businesses to unlock value in idle assets as cryptocurrency continues to grow in worldwide adoption.
It’s a mission Yelay believes will encourage more businesses, their customers and individuals to participate in yield-generating activities that can create products people really want, like rewards, shopping vouchers, airmiles, subscriptions.
The route to generating real value from yield is surprisingly simple, thanks to the Yield Layer.
First, your customers deposit crypto assets into your business, which your business then deposits into Yelay. Yelay then puts those assets to work by depositing them into an array of DeFi protocols that earn yield. The yield earned is then redistributed back to Yelay, with your business earning a portion, allowing you to redistribute rewards to your customers in whatever format you prefer. It’s giving back to the customers who give to you.
One of the most significant driving forces behind Yelay is its ability to turn yield into revenue-generating products that customers truly desire. Products like subscription services, travel perks and in-game assets. Top service platforms like Spotify, Amazon Prime and Netflix can be paid for directly through Yelay’s earned yield system.
Yelay has a multitude of new partnership announcements on the horizon, with key integrations the company believes will help elevate its brand awareness to become synonymous with crypto yield. It’s why Yelay is branding itself as The Yield Layer—not only to describe its functionality, but to plant its flag as the future of all crypto yield generation and distribution—a future primed to disrupt yield as we know it.
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