It’s been an eventful week here at YFDAI. Just recently, we have released our Whitepaper detailing the new products that will be coming thanks to the applications for the E-Wallet, exchange, and E-Money licenses. We have also released our farming options that will provide users with solid returns whilst also assisting in increasing our liquidity on Uniswap. In the long run, the loyal members who perform continuous farming and/or staking will be rewarded with the following platform benefits:
- SafeSwap Profit Share
- SafeSwap Advertising Profit Share
- SafePredict Profit Share
- Lending/Borrowing Profit Share
In addition to the above features, long term farmers and stakers will also get access to LaunchPad presales of the newest incubated projects. The benefits of course, don’t end there.
As you may have noticed in our tokenomic structure, once the token burns are completed, a large portion of profits will be left unallocated. As a governance token, it is important to remember that the community will have voting rights on how this is awarded. With that said, we look forward to the launch of our governance protocol by the end of this year, and are excited to see how the additional funds post-burn will be voted for and awarded by the community.
We have previously discussed in great detail that the YFDAI token supply is deflationary. In total we have 21,000 total supply, with no mint function. As planned, we have committed to a heavy ongoing burn policy that will reduce the total supply from 21,000 down to just 13,950 by burning every single token that is issued for Staking/Farming rewards.
We can see that the above mechanism is a great solution for the medium to long term, but, how do we control inflation in the shorter term ?
This can be done in 2 ways.
The first method is already in place. By providing profit shares from services with multipliers based on the length of time you have been Staking/Farming, we can ensure that a vast amount of the circulating supply will remain locked. Currently, the total amount of YFDAI Staked/Farmed is around 60% of the circulating supply, this will only increase with marketing.
The second way to control inflation is through marketing. Basic economics shows us that for every token added to the circulating supply, YFDAI needs to find additional users of the platform. To achieve this, we have begun our long term marketing campaign, executed deadlines on time, and have led with a robust fundamental and technological foundation. As a DeFi platform, users, volume, and total value locked value (TVL) are of key importance in achieving mass adoption.
On this note we are pleased to confirm that BitBoy (Ben Armstrong) will be joining YFDAI in a long term agreement as a marketing advisor.
Ben is a passionate YouTuber, Podcaster, Crypto enthusiast and creator of BitBoyCrypto.com. Better known as BitBoy Crypto, he works hard to educate and inform the Crypto Community.
Bens statistics are:
YouTube — 135,000 followers
Twitter — 35,000 followers
Instagram — 34,000 followers
TikTok — 2.5 Million Followers
Telegram — 10,000+ group members
Ben was pleased to join the YFDAI team as he has a deep interest in projects that set out to protect investors and bring much needed transparency to the entire space.
In his words:
“ I had been hearing a lot about YFDAI from my community, and when we completed our due diligence we were amazed. The Whitepaper is outstanding, the tokenomics fantastic, but just as important, the ethos of the team is refreshing. YFDAI have set the standard in DeFi and I feel that they have the potential to eliminate many of the issues we are currently experiencing today with the countless “rug pulls’ ‘ and exit scams. Its time investors were better protected. We are excited to join the team and look forward to supporting YFDAI in anyway we can to help move DEFI in a positive direction”
We are pleased to welcome Ben to YFDAI and look forward to working with him and his team to educate and promote YFDAI and its DeFi vision of security, transparency, and decentralization to the wider Crypto audience.
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