YFDAI — The New DeFi Standard
Dear Community,
From the start, our ethos has been one of transparency, safety, and security with our users always being the main focus of the project. As you know, due to the lack of regulations and uncertainty in the DeFi space, the large majority of DeFi projects have had no choice but to remain anonymous. We have said since the beginning that this period of anonymity was only temporary as we have been working tirelessly with our legal team over the last few months in order to make good on our promise.
We took great care in this endeavour so that we would meet all legal requirements to ensure that YFDAI as a project and community would not be negatively affected by becoming “non anon”.
We are pleased to confirm that after a lengthy process, we have now been granted all the permissions required to reveal ourselves to the public eye. While there will still be a short period of waiting for the final documentation to arrive, we nevertheless look forward to revealing our full identities within the next 7 days. We are excited to finally meet our community and being able to connect with you all in a fully transparent and legal manner.
We realize that the process we have chosen to launch YFDAI may be the exception rather than the norm. We would like to thank you for your patience as we grow from a start-up to an established DeFi platform that is leading by example. We remain steadfast to our vision of changing the space for the better.
Here is a re-cap of our progress so far:
- No pre-sale — The full set up and legal costs have been paid personally
- Locked liquidity instantly until December 2021
- Locked team, advisor, and marketing tokens in monthly time-released contracts.
- No mint function in the contract
- Audited by Blockchain Consilium
- 1st product staking is live
- New Staking contract completed — pending audit by Blockchain Consilium but will be live prior to the 25th of October 2020.
- Completed the legal process to reveal identities and allow for additional services to be offered by YFDAI
With all of our achievements thus far, we are now one of the only projects where a “rug pull” or an “exit scam” is not possible. With our LaunchPad service and SafeSwap exchange, we aim to change the way people buy cryptocurrencies so that the process we have followed is seen as the new standard.
Our next product launch is farming which will be delivered on time on October 25th, 2020. More details on this new release will be available in our whitepaper along with a robust breakdown of how it is not just a means of token distribution that creates inflation, but an economic model that rewards farmers from income received.
Now that we have set the foundation for a prosperous future, we will now turn our attention to the marketing aspect of our project. As previously stated, we made sure not to start this prematurely as we believed that the “correct” way to run a project was to create all the necessary foundations so that users have a token of actual utility.
As a fully functioning DeFi ecosystem, having users of our services is key, and growing our TVL is of vital importance. This is precisely why we’ve budgeted for a large marketing campaign for the next 6 months; you can expect this campaign to launch in full force starting next week. Marketing isn’t a short-term game plan as its role is crucial in ensuring that we gain early market share in a rapidly growing industry that is set to explode over the coming months and years. With this in mind we have ensured that from our income producing services that a large proportion will always be available to ensure that marketing is ongoing, to enable us to reach our goal of becoming the predominant, most secure trusted full suite DeFi platform in the industry.
Starting today, YFDAI will fully embody the tenets of decentralization, transparency, and security. We are a project whose business model is complete with long-term goals of sustainability, functionality, and trust.
We look forwards to next week and meeting you all on a more personal level.
YFDAI Team
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