daPool Mining Pool and Ycash Foundation Bring GPU Mining to DeFi
Press Release, May 12, 2021
The daPool Mining Pool and the Ycash Foundation have entered into a joint venture to enable GPU miners from around the world to mine Wry, the new DeFi token on Binance Smart Chain recently launched by the Ycash Foundation.
Pursuant to the joint venture, daPool has integrated Wry into their proprietary Ycash mining pool software. Starting today, GPU miners can mine Ycash via daPool’s Ycash mining pool but get paid out in Wry instead of Ycash. This novel arrangement gives GPU miners a direct, permissionless conduit to the growing ecosystem of Decentralized Finance (DeFi) applications on Binance Smart Chain (BSC).
The Wry Token
The Wry token’s name derives from the term “Wrapped Ycash”. In the parlance of Decentralized Finance (DeFi), a wrapped token represents a coin on a different blockchain. Here, 1 Wry token (WRY) on Binance Smart Chain represents 1 Ycash coin (YEC) on the Ycash blockchain. Wry enables Ycash users make use of various DeFi services on Binance Smart Chain, like PancakeSwap. In fact, because Wry conforms to the popular ERC-20 and BEP-20 token standards, Wry works with any service that supports those standards.
Before today, there were two ways to obtain WRY: (1) convert YEC to WRY via the Ycash Foundation’s Wry Pipe service; or (2) buy WRY on PancakeSwap. Now there is a third way: mine WRY directly with a GPU.
“This joint venture is tremendously important for the future of Wry and Ycash. It further strengthens the Ycash Foundation’s commitment to mining on commodity hardware, and it gives GPU miners an exciting new option,” said Howard Loo, founder of the Ycash Foundation. “We are honored to partner with daPool and we hope that this venture brings new GPU miners to Ycash.”
To get started mining Wry, visit daPool’s Ycash pool and follow the standard instructions for mining Ycash, but with one change: Instead of using a Ycash address for your wallet name, use a Binance Smart Chain address.
As a promotion, for the first 100,000 WRY mined, the joint venture will cover 100% of the BSC transaction fee incurred when making the WRY payout. During this promotion, the minimum payout threshold is 50 WRY.
For questions, visit the #ycash-yec channel on the daPool Discord or the #mining channel on the Ycash Discord. For announcements, follow daPool on Twitter and the Ycash Foundation on Twitter. The Wry contract address on BSC is 0x4f0c54c06bc401d02df557fd65ee30f622155cf6.