YFDAI Monthly Transparency report
Dear Community
The first monthly unlock from the time-release smart contracts has been completed, please find below confirmation of upcoming transfers.
Team Tokens — Maximum Monthly Allocation 105 Tokens
https://etherscan.io/tx/0xd539730edca381051263833d89e2cd3f4f15fddcd9380fd0c0c41f26c16ed7d1
As you are aware YFDAI did not carry out a presale and funding of the project has been paid directly from the team. The team tokens are in place to pay for all team members and Devs.
Usually 100% of these tokens would be used monthly however the core team have agreed that only 50% of the available tokens will be used for the October release (52.5 tokens). The remaining 52.5 tokens will be locked via time release smart contract for 3 months reducing the monthly outflow of tokens.
This month 50% of the team tokens available will be used to cover the salaries of the team. The additional Devs are taking 50% Tokens which they want to hold and 50% USDT. The team will fund the USDT balance of $18,385 directly to save large sales being placed on the market. This will be recovered by selling a maximum of $500 of tokens per day from each of the core team wallets. To ensure no price impact will be seen a maximum of $200 worth of tokens will be sold at anyone time. The $500 of tokens per wallet, totaling $1,500 of tokens per day will be sold on a daily basis ongoing to fund the USDT costs of the business. This figure will be reviewed on a monthly basis and detailed in the monthly transparency report.
The 52.5 tokens will be transferred to the following addresses detailed in the chart below
The token payments for the Dev team totalling 23.77 tokens will be paid directly to the Devs from the Development fund. https://etherscan.io/address/0xFdb317591EC1b11d7FECe49Bfe424525F33FA7fC to the wallet’s addresses detailed in the chart above.
The remaining 50% of available team tokens (52.5 Tokens) will not be entering the market and will be locked in time release smart contracts for a 3-month period. We had previously outlined that these would be added to the liquidity pool however this is currently not practical as the team would like to hold the ETH available for some planned expenses this week that will finalise the legal process to allow for full identities to be revealed, along with personally funding another large expense -some more exciting news that will be released in the next 14 days.
Marketing Tokens — Maximum Monthly Allocation 175 Tokens
https://etherscan.io/tx/0xd0d0b5be31ed2a7397571e55bc237f637e7d7b2c8e89da5cc0d4422d0a65866b
As we start to ramp up the marketing campaign a mixture of YFDAI tokens and USDT will be used. There is a total of 175 tokens available and the current initial spend shall be around 105 tokens. Please note that this may not be the final amount used for the month as we are still in talks with several marketing options. The remaining tokens not used will roll over for future marketing. For each party who receives tokens there is an agreement in place that not more than $500 of tokens can be sold in a 24hr period and with a maximum slippage/price impact of 2% to be respected. Staking has also been offered to our partners with the large majority opting to stake some or all of their tokens.
Please note that all marketing contracts are based on a USD amount of YF-DAI, therefore the amount of YF-DAI required per month will decrease. We also have segments of the marketing campaign that will not start until certain milestones are reached.
You will see multiple amounts leave the wallet later today/tomorrow.
Advisor Tokens — Maximum Monthly Allocation 105 Tokens
As previously confirmed the tokens allocated to the team of advisors will be staked and will not be entering the market. Tokens will be transferred to the following wallet:
https://etherscan.io/address/0x5AB109aFb3f592265ce9102e74D447CaFc60F2d9
Summary
As you can see from the above although the marketing and Team expenses are funded via the tokens that are held in the time-release smart contracts, we have managed to reduce the amount of team tokens potentially reaching the market by 50% and the marketing allocation by 40%. Furthermore, we have added strict terms of sale to all parties receiving tokens to ensure that the price is not affected negatively by this monthly token distribution.
YFDAI Team
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