YFDAI Transparency Report for March 2021

4 min readMar 18, 2021

Dear Community,

The 6th monthly unlock from the time-release smart contracts has been completed, please find below confirmation of completed 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 2.03 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:

https://yfdaifinance.medium.com/dear-community-35e63283e021

A total of 42.66 tokens were sold this month.

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 are a total of 175 tokens available and the current monthly spend shall be around 26.55 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 512 marketing tokens[Ma1] 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. Digital marketing to include YouTube advertising and Banner advertising will roll out soon, so a total of 15 tokens per month is being sold [Ma2] to fund this, with 30 sold thus far. These are being sold with respect to the order-book and liquidity and will not exceed more than $1,000 worth on one transaction.

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 39.87 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 272 tokens carried over from previous months.[Ma4]

TXIDs for Token transfers from Time release smart contracts

Team & Advisor Tokens

https://etherscan.io/tx/0x04d339222847a3de02f3e81d130ae8a32402d3e95860af47c3f1ec7de0934926

Marketing Tokens

https://etherscan.io/tx/0xea276c2638128c15d3b7ecad7b0c1384c73aa67e6384c44a57d2876debbaa6ef

Summary

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 38.9% at the time of writing. Wallet holders and also Staking/Farming TVL have also seen significant increases.

Wallet Holders

09 October, 920 Holders

09 November, 1880 Holders

11 December, 3631 Holders

09 January, 4119 wallet holders

09 February 5, 438 wallet holders

15 March, 6189 wallet holders

Staking and Farming

09 October, 217 stakers

09 November, 494 stakers

11 December, 1050 Stakers

11 December, 52 SafeTrade Stakers