Overview of the SSGT Key Points, Distribution Schedule and a Community-driven FAQ
As we get closer to the launch of the SafeSwap Governance Token (SSGT), we have collected the most frequently asked questions that have been asked by our community so that everyone can be armed with the best understanding of the role that SSGT plays in our DeFi ecosystem. In addition, we have also constructed a timeline of the distribution schedule for the SSGT pre-sale and public sale on YFDAI’s LaunchPad, as well as the initial SSGT airdrop for all YF-DAI holders, stakers, and farmers.
As our vision to establish the most complete DeFi ecosystem — abundant liquidity, streamlined governance, and ample rewards for stakers, farmers, liquidity providers, and more — takes form, we appreciate all of your questions, feedback and continued support!
SSGT Key Points: Rules, Token Sale & Airdrop
There are 3 key areas to cover as you review the distribution schedule timeline (or schedule of events):
- The LaunchPad presale and public sale for SSGT
- The airdrop for YF-DAI token holders, farmers & stakers
- Penalties for selling YF-DAI tokens after SSGT airdrop snapshot
Renewed Commitment to our Long-standing Supporters: Starting of with point #3, to ensure that users do not take advantage of the SSGT airdrop in an unfair way to the detriment of our long-standing community and the YFDAI project, we have instituted new measures that support our commitment to long-term success of YFDAI Finance overall.
As such, we’ve instituted these additional measures effective immediately regarding the SSGT airdrop:
Anyone lowering the amount of YF-DAI they hold/stake/farm between the final qualifying snapshot (March 16) through the initial SSGT airdrop claim date (1 month after SSGT listing), will forfeit the entire SSGT airdrop they qualified for.
If you lower your amount of YF-DAI held/staked/farmed in between monthly distribution periods, you will forfeit all future distributions unless and until you restore your balance of YFDAI to what it previously was at. This will be determined by the following month’s snapshot.
A user can still sell SSGT when they receive it, but they will lose all loyalty bonuses that have been previously outlined in part 2 of our SSGT deep-dive series.
Also, a user can sell the rewards they get from staking/farming both YFDAI and SSGT with no penalties.
100% of all forfeited SSGT tokens will be burned.
SSGT Pre-sale & Public Sale
As a reminder, the SSGT presale on YFDAI’s LaunchPad is only available for Farmers and Stakers of YF-DAI (start staking your YF-DAI here or farm with your YF-DAI here). The SSGT public sale will also happen on YFDAI’s LaunchPad.
The SSGT Presale will only be available to those Staking or Farming YF-DAI for at least 15 days (late eligibility exception in our SSGT Summary article).
Here is the timeline for the pre-sale and public sale:
- SSGT Pre-sale: Tokens will be distributed over 6 months
- 25% at TGE
- 15% per month thereafter
- SSGT Public sale: 100% will be unlocked and distributed at TGE
If you’d like the full details on the SSGT presale and public sale via LaunchPad, including SSGT multiplier levels, they can be found in part 1 of our SSGT in-depth analysis, which can be found here.
The SSGT pre-sale longevity bonus (shown in the timeline below) is for those users who do not sell or move their staking or farming rewards over the 6-month (180-day) distribution period. Those users will receive a bonus amount of SSGT tokens of allocation x 1.75 multiplier.
SSGT Airdrop for YF-DAI Holders, Farmers & Stakers
The SSGT airdrop for holders, farmers & stakers will take place over a 6-month vesting schedule. There is no minimum that needs to be held, farmed or staked.
As mentioned in part 2 of our in-depth analysis on Airdrops and Loyalty bonuses, there are key dates to be aware of for airdrop eligibility.
With regard to the vesting schedule, snapshots will take place every calendar month for 6 months from March 16th. The airdrop distribution is monthly in arrears after the SSGT listing.
Regarding SSGT Loyalty Bonuses, these will be awarded to those who do not reduce the amount of either A) the amount of SSGT held in wallets or B) the amount of YF-DAI in each pool (more details and criteria in part 2 of our SSGT deep dive).
These loyalty bonuses will be distributed after the end of the initial 6-month SSGT distribution on a monthly basis over an additional 90 days (3 months). During these last 90 days, token holders can pull out their funds and still get the bonus distributed to them.
For the last-man standing NFT, the rewards will be paid in YF-DAI following the initial 6-month distribution period of SSGT, with no lockup or extended distribution period.
Now, let’s jump into the distribution timeline:
Here at YF-DAI we are fortunate to have an engaged and growing community. The comprehensive FAQ below is an example, gathered from questions asked so far about SSGT.
There’s a good chance that if you have any questions, you’ll find an answer below.
- Will the pending rewards be counted for airdrops?
Pending rewards need to be claimed for them to be included in the snapshot.
- What should I do to participate in the pre-sale?
Get YF-DAI and stake it, as this grants you access to the presale, both for SSGT and other presales
- Will there be an airdrop multiplier if I stake / farm for more than 30 days?, and is there a minimum amount of YF-DAI that I need to have to be eligible for the airdrop ?
Yes, if after the snapshot you do not remove YF-DAI tokens from staking and farming between monthly snapshots you will be rewarded with an additional 10 % at the end of the 6 month period (paid out over 3 months). All YF-DAI holders, stakers and farmers can participate in the airdrop, irrespective of the amount of YF-DAI they hold.
- Will participation in the pre-sale be guaranteed or by lottery?
There will be 2 rounds. The first round will be a guaranteed allocation with a 24 hour purchase window. The second will again be a whitelisted sale on the Launchpad.
- What will happen to my loyalty bonuses if I use the same wallet used for SSGT presale, keep the presale token (without selling) until I receive the airdrop then sell only my presale token thereafter?
In order to receive the loyalty bonus the SSGT balance of the wallet is not allowed to drop between monthly snapshots. It is advisable to create separate accounts in your wallet and use one for holding to maximize rewards and another for trading.
- What is the initial price of SSGT?
LaunchPad pre-sale price: $0.05
LaunchPad public sale price: $0.075
Uniswap and SafeSwap expected listing Price: $0.11
- How many coins can I buy if I participate in the pre-sale?
Staking or farming YF-DAI is the only way to qualify for LaunchPad pre-sales. The amount of SSGT you can buy during presale will be calculated based on the amount and length of time you have been staking or farming YF-DAI. The maximum amount will be displayed in the launchpad DAPP.
- I’m staking 1.2 YF-DAI for over 2 months without reducing my initial deposit. How much SSGT will I be able to purchase in Presale?
The more YF-DAI you have staked or farmed, the higher the allocation of SSGT you will be able to purchase in the pre-sale. Our standard multipliers will apply to the SSGT pre-sale based on the time that you are staking and/or farming. As such you would have a standard allocation x 1.25.
- How will the airdrop multiplier work?
If you own and farm/stake YF-DAI before the 9th of March you will receive the largest SSGT airdrop, and if you begin farming/staking after the 9th of March, you’ll receive a smaller airdrop. After the 16th, you will receive no airdrop. On top of this are the multipliers. If during the 6 month distribution period you don’t unstake or remove LP tokens from any pool then you will be eligible for a 10 % SSGT distribution bonus.
If you hold SSGT in your wallet and do not sell, reduce or transfer tokens from your wallet for the 6 month distribution period you will be eligible for a 5 % SSGT bonus.
If you achieve both bonus 1 & 2 then you are eligible for a share of the $100,000 Last Man Standing reward. For those only staking and farming they will automatically receive the second bonus. If you hold YF-DAI outside of staking / farming then you will receive the bonus only if you do not reduce the amount you hold.
- How often will snapshots be taken?
The first one will take place on the 9th of March, and the second on the 16th of March. Subsequent snapshots will take place every calendar month for 6 months from March 16th.
- If Snapshots are taken monthly, what is to stop someone from selling and then buying back in before the next snapshot?
Nothing. At the time of the next snapshot you need to have equal or more YF-DAI in the wallet to maintain your bonuses.
- After the 16th March snapshot cut off if I sell the YF-DAI in my wallet will I still get the first month’s SSGT pro-rata airdrop amount? Or will another snapshot be taken (16th April) to confirm I still hold the same amount of YF-DAI?
No, if you sell the YF-DAI in your wallet after the cut off, you’ll forfeit the opportunity to claim the first month’s SSGT airdrop amount. If you happen to sell some YFDAI during the airdrop period (over the 5 months after the first airdrop), you will forfeit your next month’s airdrop until you restore your balance to what it was prior to selling any YFDAI you have.
- What will the whitelisting requirements be for the Private Pre-sale and Public Sale of SSGT?
All wallets staking and farming YF-DAI are whitelisted for the presale. For the public sale there will again be a whitelisting procedure and the sale will also be on LaunchPad.
- What is the claim delivery mechanism for SSGT, Airdrop or claim on site?
Claims will take place via the launchpad DAPP over a period of 6 months according to the vesting schedule.
- After I buy SSGT in the pre-sale will selling affect my Airdrop allocations and bonuses?
Airdrop allocations are determined before the presale and would not be impacted. If you buy SSGT during the presale and later sell it your bonuses won’t be impacted as long as you don’t go below the initial determined SSGT quantity. In order to avoid accidentally losing your bonuses, we would advise you to use a trading account for trading, and a seperate account for staking or farming to keep the funds separate.
- Are there any restrictions in terms of selling on purchases made during a presale and a public sale.
You are free to sell purchases made during the presale as soon as you would like, following the lines of the distribution schedule (25% unlocked and provided at TGE and 15% per month thereafter). You are free to sell purchases made during the public sale (on uniswap and safeswap) anytime as 100% of the tokens are unlocked at TGE. If you would like to receive a loyalty bonus, ensure that the number of SSGT in your wallet does not fall below the initial airdrop allocation amount.
- Will using SSGT to stake in the DAO or farm affect my Airdrop allocations and bonuses?
No, staking and farming SSGT will not impact allocations or loyalty bonuses. Loyalty bonuses would be impacted if the monthly snapshot were to determine that your wallet has fewer SSGT than was originally allocated.
- Can you provide an example of how or what is the best strategy for getting the max allocations and all bonuses?
The best strategy for getting max allocations is to stake or farm your YF-DAI, then to stake or farm your SSGT as it is received. If you participate in the SSGT presale, stake or farm the SSGT as soon as you receive it. To avoid losing your loyalty bonus, ensure that the amount of SSGT in your wallet does not go below what you were initially allocated.
- Can you provide an example of how multipliers work with a % bonus calculation?
Please refer to the medium articles for examples.
- Can I get airdrops for YF-DAI that I hold on an exchange? No. You can only receive SSGT airdrops for YF-DAI that are held in your wallet or those which are in YF-DAI’s farming or staking contracts. The exchanges will not be receiving SSGT airdrops.
- If I decided to Stake/Farm my SSGT Airdrop after having received the First/Second one will that terminate my Loyalty Bonus
No, that will not affect your loyalty bonus.
- What are the benefits of holding SSGT?
If you stake an equivalent amount of SSGT to your YF-DAI staked / farmed you gain a bonus on the amount of tokens you can buy at a presale.
- When will YF-DAI be on Trading view?
As soon as they answer our multiple requests to get us listed :).
Please continue to voice your questions and feedback in our main Telegram community channel. As we release more details on our roadmap to bring SSGT to life and make it a very active part of the YFDAI ecosystem, we will be sure to make more announcements so you are always in the know, helping us grow YFDAI every step of the way.
Governance — https://governance.yfdai.finance
Telegram Governance — https://t.me/joinchat/TjNNP9ipD9ObYLUU
Farming — https://farm.yfdai.finance
Staking — https://stake.yfdai.finance
Website — https://yfdai.finance
Telegram Community — https://t.me/yfdaifinance
Telegram Announcements — https://t.me/yfdai
Discord — https://discord.gg/S3GRXRC
Bitcointalk — https://bitcointalk.org/index.php?topic=5295276.new#new
Reddit — https://www.reddit.com/r/YFDAI