YFDAI Transparency Report for May 2021

5 min readJun 8, 2021

Dear Community,

The 8th 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 was an in-house funded project which was able to launch without a presale! With that said, team tokens were set in place to pay for the core team members’ salaries.

This month, 81% of the team tokens available will be used to cover the salaries of the team. The team is dedicated and plans to hold much of these tokens, however, any tokens sold will respect YFDAI’s policy of having a maximum amount of $1,000 of tokens to be sold per day, per team member.

The additional devs will receive their compensation in a split of 50% tokens which they are dedicated to holding, and 50% USDT. Our fleet of newly hired developers will receive their compensation as 100% in USDT. While the Dev Team plans to hold much of these tokens, any tokens sold will be made whilst respecting the YFDAI policy of having a maximum amount of $1,000 of tokens to be sold per day per Dev. The token payments for the Dev team totaling 4.5234 tokens will be paid directly to the devs from the Development fund to the wallet addresses detailed in the chart above.

Given our recent developer hires, Developers earmarked as: “Dev 2”, “Dev 4”, “Dev 5”, and “Dev 7 - Dev12” will no longer be funded by YFDAI, saving $22,000 of combined YFDAI tokens and USDT.

The USDT balance of $63,475 using the funds that were sold in the marketplace previously totaled 100 YFDAI.

This Month, a Total of 600 YFDAI will be taken from the Development Fund for Exchange Listing Fees and Market Making for two Tier 1 exchanges! These tokens will cover Exchange Listing Fees and Market Making. In July, we plan to share details about Earnings from Market Making from the company account.

In the next 72 hours, a total of 600 YFDAI Tokens will be transferred to the appropriate wallets as required.

The Exchange Listing announcement will be shared shortly once the agreement is signed off by the YFDAI Team. As usual, the exchange will share the official announcement regarding the listing.

Please note that to provide full transparency, if at any point more funds are required for market-making, an announcement shall be made confirming the number of tokens being sent to the market maker with at least 72hrs notice being given.

Marketing Tokens — Maximum Monthly Allocation 175 Tokens

Last month, all marketing tokens were released from the smart contract as per the tokenomics. A mixture of YF-DAI tokens and USDT will be used to fund the marketing campaign. The current monthly spending shall be around 45.48 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 426.8148 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. Digital marketing including YouTube advertising and Banner advertising has already commenced! A total of 15 tokens per month is being sold 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.

On June 11th, we will release the transparency report of June in another medium post. This month’s transparency report delay happened due to the finalization of the exchange listing.

Advisor Tokens — Maximum Monthly Allocation 105 Tokens

This month 9.7879 YFDAI tokens and 30,940 USDT have been distributed. The USDT payment has been provided from 100 YFDAI which has been sold at a previous date. While advisors have the option to sell their tokens, they are bound by the agreement 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 472.76 tokens carried over from previous months.

TXIDs for Token transfers from Time release smart contracts

Team & Advisor Tokens

https://etherscan.io/tx/0x95cc9e54c138a806cdd176e030fef0e5ce4dbec2842bfe9a2d3ea8a8f20abf16

SSGT First Week Milestones

The SSGT launch has been a resounding success! Despite the current market downturn crypto has been facing for the past few weeks, SSGT continues to stands at over 4x its private sale price and around 2.8x its presale price. We expect the upside of SSGT to be of monumental proportions going forward!

Summary

YFDAI has delivered this month on launchpad projects and continues its marketing efforts. There has been an increase in the number of wallets farming, staking, and holding YFDAI.

Wallet Holders

09 October, 920 Holders

09 November, 1880 Holders

11 December, 3631 Holders

09 January, 4119 wallet holders

09 February 5, 4388 wallet holders

15 March, 6189 wallet holders

22 April, 6362 wallet holders

20 May, 6341 wallet holders

Staking and Farming

09 October, 217 stakers

09 November, 494 stakers