Merunas Grincalaitis: DeFi will replace banks

Recently the CEO of Yeld.Finance, Merunas Grincalaitis, gave an interview to DeFi.cx where he stated that blockchain is here to stay, and will continue to acquire importance as it replaces banks with technology that is fairer. 

The DeFi-oriented YELD token, issued on the Ethereum blockchain, is one of the few yearn products that has a known, experienced, non-anonymous developer. 

In fact, Grincalaitis has over three years of programming experience with Solidity, to the extent that he has even published two books on the subject. 

He is of Lithuanian origin but has lived in Spain since he was 4 years old, and has worked in the blockchain industry for various startups and banks. 

Having developed smart contracts and dApps for stuff like ICOs, MVPs, utility and more, he says he understood the potential of decentralized finance and ended up deciding he wanted to do something to contribute to this revolution. 

Yeld.Finance, the project of Merunas Grincalaitis

His DeFi project, Yeld.Finance, is based on algorithms that aim to make the YELD token increasingly valuable over time, rewarding its owners and providing the best possible return for the stakers, in order to continuously increase its value to make it one of the most attractive tokens around. 

In particular, this project differs from other similar projects precisely because it reduces its offer and rewards the owners, so as to make the protocol profitable for both short and long term investors. 

For now, the token made its debut on the crypto markets at a price of about $33 on September 8th, and after about three days its value is still about the same. But obviously, these are only the first steps, and it’s still too early to judge whether its value will meet expectations. 

YELD is inspired by YFBETA, but it is something completely separate, and once the dApp is released the governance will be implemented to allow the community to decide which new protocols to implement. 

The Yield Farming dApp should be completed within the next 2 weeks, though the development team must test the smart contracts and carry out audits. It could be released after the first days of October, since the development started after the private sale. 

The team consists of Grincalaitis plus two other developers, but it will probably grow in the future. 

The roadmap also foresees the creation of a stablecoin, as well as the governance platform, and in the future, Grincalaitis also envisions new, more innovative DeFi solutions.