The evolution of YFDAI
Many of you have questions regarding the future of YFDAI and some of you have undoubtedly heard the discussions regarding YFDAI2, the token swap and the overall future of the project. We hope that this will provide you with some clarity moving forward.
As with many projects in crypto YFDAI suffered from the market downturn which can in part be blamed on poor planning and a failure to execute on what was an ambitious roadmap. YFDAI is not unique in this and we have only recently seen several more prominent and better financed teams shut down or seek bailouts.
The ultimate blame for these failures can not be attributed to a single individual and while it is often convenient to have a scapegoat, we believe that the responsibility is shared.
The senior team of volunteers have been looking for some time to find a suitable and motivated group willing to take over the project to support the community and deliver on the foundations that YFDAI was established to uphold.
We believe that team to be YFDAI2 led by former YFDAI community member @Thomas_Dai
After a due diligence and KYC process and an investigation into the plans and roadmap outlined, we believe that Thomas’s team have the ability and capacity to deliver a new future for YFDAI. Former YFDAI Lead Developer Rocky agreed as part of his exit from YFDAI to transfer the remaining YFDAI assets to Thomas in order to assist this new team financially, a process which we believe has now been completed.
There will undoubtedly be a few speed bumps as the new team get their feet under the desk and we have already seen some issues with communication regarding the token swap and use of funds etc, but we ask for your patience as Thomas and his team set expectations for the new future of YFDAI.
As for the old YFDAI, a core group of unpaid volunteers will maintain the infrastructure, vesting agreements and SSGTx staking and farming with the hope to eventually be able to secure funding to build this into (or merge with) a viable growing and revenue generating operation.
We would like to thank Rocky for his time with YFDAI and wish him well with any future endeavours. At the same time we’d like to ask that those of you within the community who still believe in YFDAI please join and show your support to Thomas and his team as they plan for a bold new future with YFDAI2.