YFDAI Transparency Report for February 2021
The 5th 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
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 core team members salaries.
This month 80.95% of the team tokens available will be used to cover the salaries of the team. The Team plan to hold these tokens however any tokens sold will be made whilst respecting the orderbook with a maximum amount of $1,000 of tokens* to be sold per day per team member.
The additional Devs are taking 50% Tokens which they want to hold and 50% USDT. The Dev Team plan to hold these tokens however any tokens sold will be made whilst respecting the orderbook with a maximum number of $1,000 of tokens to be sold per day per Dev. The token payments for the Dev team totaling 2.82 tokens will be paid directly to the Devs from the Development fund to the wallet addresses detailed in the chart above.
The team will fund the USDT balance of $28,975 using the funds that were obtained by the initial tokens sold to fund the core business as per the following medium article:
A total of 79 tokens were sold this month with a balance of 10 tokens remaining from the original amount distributed from the Development fund. This month another 100 Tokens will be released from the development in 72hrs time.
These will be sold in a controlled manner to ensure price levels and orderbook liquidity are respected as and when required.
Please note that to provide full transparency if at any point more funds are required an announcement shall be made confirming the amount of tokens to be sent to the Market Maker with at least 72hrs notice being given.
Marketing Tokens — Maximum Monthly Allocation 175 Tokens
As the marketing campaign continues a mixture of YF-DAI tokens and USDT will be used. There is a total of 175 tokens available and the current monthly spend shall be around 38 tokens. Please note that this may not be the final amount used for the month as additional marketing avenues are constantly being added. The remaining tokens not used will roll over for future marketing. Currently there are a total of 300 Marketing tokens left over from previous months. For each party who receives tokens there is an agreement in place that not more than $1,000 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. Due to the rollout of Digital marketing to include Youtube advertising and Banner advertising a total of 15 tokens will be sold per month to fund this. These will be sold with respect to the orderbook and liquidity and will not exceed more than $1,000 worth on one transaction. Please note that no tokens were sold in the last month to fund Digital Marketing.
All marketing contracts are based on a USD amount of YF-DAI, therefore the amount of YF-DAI required per month will decrease as the price of YF-DAI rises. 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
This month 40.16 tokens will be distributed. Advisors have the option to sell their tokens however there is an agreement in place that not more than $1,000 of tokens can be sold in a 24hr period and with a maximum slippage/price impact of 2% to be respected. Currently there are 130 tokens carried over from previous months.
TXIDs for Token transfers from Time release smart contracts
Team & Advisor Tokens
It has been a very strong month for YFDAI, the marketing efforts have given us widespread exposure and the economics have been proven by the fact that with farming, staking, team,advisor and marketing payments the token price has increased by 106% at the time of writing. Wallet holders and also Staking/Farming TVL has also seen significant increases. This month we look forward to releasing the new look website and the start of the long awaited digital marketing campaign, to further increase exposure.
*Please note that due to the high gas prices on the Ethereum network, we have increased the maximum amount of YF-DAI that can be sold in a 24-hour period to $1,000, still subject to 2% slippage parameter. This is to enable third parties a way to economically convert tokens in order to cover operating costs, and ensure we can attract new marketing outlets to work with us. In light of improved liquidity and volumes in YF-Dai, we are confident this will have no material impact on the token’s value, and will ensure that our partners can continue to work with us over the long term.
09 October 920 Holders
09 November 1880 Holders
11 December 3631 Holders
09 January 4119 wallet holders
09 February 5,438 wallet holders
09 October 217 stakers
09 November 494 stakers
11 December 1050 Stakers
11 December 52 SafeTrade Stakers
9 January 1233 Stakers
9 January 63 SafeTrade Stakers
9 February 1,662 Stakers
9 February 61 SafeTrade Stakers
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