YFDAI Whitepaper Breakdown!
Today is an exciting day for YFDAI as the community will finally have access to the highly anticipated whitepaper. We are very happy to finally release this as it will be one of the first formal introductions to the YFDAI protocol. Inside you’ll learn about what YFDAI is all about plus some new un-announced features.
You will find that great care has been spent to ensure that our Economic model is sustainable, whilst rewarding those who Stake and Farm over the long term. YFDAI users will not only receive rewards from the Staking and Farming, but also from the following services:
• SafeSwap Profit Share -5%
• SafePredict Profit Share — 25%
• Borrowing/Lending Profit Share — 25%
• SafeSwap Advertising Profit Share — 25%
Taking the above into consideration the YFDAI Farming and Staking returns will provide the highest levels of returns in the industry, whilst being sustainable without the negative price impact caused by inflation. Our deflationary model ensures that all tokens allocated for Staking and Farming will be burnt until a total supply of 13,590 YF-DAI tokens has been reached.
As a community centric project, when the burning ceases the additional income will be controlled by Governance vote, providing further options for increased returns for YFDAI users.
Below, we’ve compiled a quick breakdown of some of the highlighted features of the YFDAI protocol. Enjoy!
The SafeSwap Exchange
YFDAI’s SafeSwap decentralized exchange aims to put an end to the scams and rug pull incidents currently present in the DeFi space. To accomplish this, SafeSwap will only list thoroughly vetted projects that meet the strict criteria of YFDAI. Some of the requirements needed for consideration include pre-locking tokens, pre-locking liquidity, and passing third party protocol and contract audits.
The profits from SafeSwap will be utilized for the following:
- 37.5% Token buyback and burn until 13,950 YFDAI total supply is reached (Governance vote will then decide where these funds are allocated).
- 25% Development fund
- 25% Marketing to increase users and volume.
- 5% Team and advisors.
- 5% YFDAI long term Staker/Farmer incentives
- 2.5% Charity (Determined by community governance)
SafeSwap Advertising Revenues
There will be two banner ad revenue sources on the SafeSwap exchange pop up box. The top banner will run for 24 hours and cost $1000 per day. The bottom smaller banner will run for 1 hour and change every hour and cost $100 per hour. This could generate $3400 per day in ad revenue or around $100,000 per month.
The SafeSwap ad revenues will be divided as follows:
- 50% For buyback and burn until 13,950 total supply is met. (Governance vote will then decide where these funds are allocated.)
- 25% Development Fund to support the maintenance and growth of the YFDAI ecosystem.
- 25% YFDAI long term Staker/Farmer incentives
SafePredict
SafePredict is a P2P automated prediction trading platform DaPP that will provide YF-DAI holders the ability to place price predictions utilizing the YF-DAI token based on the future price of YF-DAI over a set period. With this application, participants can predict what price YF-DAI will be at on a specific date in the future and gain rewards for their accurate predictions.
The fees collected from the SafePredict contract equate to 10% of the total YF-DAI levied.
50% of the fees accumulated through SafePredict will be burnt until a total supply of 13,950 YFDAI is reached. Once the 13,950 total supply is reached and the burn stops:
- 50% of the funds will be spent according to the governance vote.
- 25% to Development fund to support maintenance and growth of YFDAI ecosystem.
- 25% to YFDAI long term Staker/Farmer incentives
Staking
YFDAI offers an intuitive one-click staking application on its platform for quick and seamless usability. The YFDAI Finance protocol allows users to stake YF-DAI to earn a considerable ROI of 72% annually, 6% monthly, 0.02% daily on their staked amount.
Every 3 months all YFDAI tokens collected from staking fees will be burnt. All burn events will be publicly announced on our social media channels. Burns persist until a total supply of 13,950 YFDAI tokens has been reached.
Staking Fee Structure:
Collected and burned every 3 months
- Stake Entry Fee: 1.5%
- Stake Exit (Unstake) Fee: 0.5%
- Minimum Stake Lockup: 72 hours
Yield Farming
Farming with YFDAI will commence with four vaults to choose from and will later expand.
Vault 1- (YFDAI/ETH) 20 YFDAI monthly reward, locking period 72 hours. 0.5% withdrawal fee.
Vault 2- (YFDAI/ETH) Choice of 30, 35, 45 YFDAI monthly in pool for 30, 60, or 90 days. ( 30 YFDAI for 30 days, 35, for 60 days, and 45 for 90 days.)
Vault 3- (DAI Vault) Daily rewards of 0.066%, monthly 2%, yearly 24%. 0.5% withdrawal fee.
Vault 4- (ETH Vault) Daily rewards of 0.033333%, monthly 1%, yearly 12%. 0.05 withdrawal fee.
The total rewards dedicated to YFDAI farming services are 1,455 YFDAI. These tokens will be distributed among a total of the current 4 Pools. All Farmed tokens will be eventually burnt until the total supply of YFDAI reaches 13,950.
*BONUS* Farmers and Stakers who hold for a minimum of 30 days onwards automatically qualify for a distributed portion of profit shares from SafeSwap (5%), SafePredict (25%), SafeSwap advertisements (25%), and borrower/lender fees (25%).
LaunchPad Token Farming (Coming Q1 2021)
Farm SafeSwap listed projects (Launching 2021). Users provide LP tokens to SafeSwap instead of Uniswap using the YF-DAI/ETH pair which will then generate a new receipt token (SAFEV1 YF-DAI/ETH) token which can be Farmed to earn the LaunchPad project tokens.
LaunchPad
The LaunchPad is YFDAI’s in-house project incubator rich with a plethora of startup, marketing, and advisory services. The LaunchPad will foster projects looking to contribute legit services and tools to DeFi by providing them with industry-leading fundamentals, marketing, liquidity services, as well as auditing and project advisement.
- Users who have farmed or staked with YFDAI for over a 30 day period will be eligible to participate in exclusive LaunchPad pre-sale deals based on the length of staking/farming participation.
The LaunchPad fee of 5% will be used as follows:
- 3% — smart contract development and launch
- 1.5% — buyback and burn, until 13,950 YFDAI supply is reached
- 0.5% — Charity, Managed by internal community governance system
The 1% of tokens retained of each project will be used as follows:
- 40% — YFDAI Farming reward.
- 40% — YFDAI Staking reward
- 20% — Influencers and PR partners
Lending and Borrowing
YFDAI is building a two-fold community of depositors/lenders and borrowers. Depositors/lenders can earn a passive income by providing liquidity while borrowers can access over or under collateralized loans. In either fashion, lending is made more straightforward than ever when using the YFDAI platform. YFDAI will also provide a borrowing service to the community where users will have the opportunity to acquire loans using their crypto assets such as ETH, LINK, YFI, YFII, and other top 20 ERC20 tokens as collateral.
Lending Returns:
- 30 Days: 8% APY (locked for 30 days)
- 60 Days: 10% APY (locked for 60 days)
- 90 Days: 12% APY (locked for 90 days)
- 180 Days: 15% APY (locked for 180 days)
- 360 Days: 18% APY (locked For 360 days)
Borrower’s interest terms:
- 30 Days: 9% APY (Locked for 30 Days)
- 60 Days: 11% APY (Locked for 60 Days)
- 90 Days: 13% APY (Locked for 90 Days)
- 180 Days: 16% APY (Locked for 180 Days)
- 360 Days: 19% APY (Locked For 360 Days)
Borrowing and Lending Fees:
Fees are 1% — this is the difference between the lending and borrowing
- 50% — Buyback and burn until total supply of 13,950 YFDAI is reached. (Governance vote will then decide where these funds are allocated after burn ends.)
- 25% — Development fund to support maintenance and growth of YFDAI ecosystem.
- 25% — YFDAI long term Staker/Farmer incentives.
YFDAI E-Commerce Platform
YFDAI’s e-Commerce app allows users to open an IBAN account with its own digital payment card which can be used to perform wireless payments with merchants. The platform allows users to transfer money to other users, bank accounts, and even to those outside the YFDAI e-Commerce app. Receive money on-demand by generating your own QR code! These features will all be possible as YFDAI will add an e-money license on top of its financial license.
YFDAI Debit Card
The YFDAI Debit Card allows users to convert and spend cryptocurrencies at physical and digital merchants worldwide! With this system, you can convert crypto assets to spendable money that can be used anywhere online or at a physical merchant. Even better is that YFDAI will not process any administrative or processing fees. Users can also get up to 8% cashback on their purchases!
YFDAI Mall
The YFDAI Mall is a digital marketplace connecting buyers and merchants all within one application platform. Here merchants can expand their horizons by adding an extra marketplace platform to their arsenal. Transact and communicate between buyers and sellers all within an easy to use application.
YFDAI Token Distribution
Total Supply — 21,000 Deflationary to a fixed supply of 13,950
Circulating Supply (Deflationary) — 7,770 (available supply varies depending on the number of tokens staked)
Uniswap — 7,770 (37%) fully distributed.
Staking — 5595
Farming -1455
Dao — 300
Development — 2,100 (10%) Used for development and exchange liquidity.
Marketing — 1,050 (5%) 6 month lock. 175 tokens released per month. Locked.
Team & Advisors — 2,520 (12%) 1 year vesting. Slow release of 210 tokens per month. Locked.
Reserved — 210 (1%) used for incentives and emergency funds. Unlocked
YFDAI Audited For Security
YFDAI is one of the few DeFi projects whose protocol and smart contracts are audited and certified by the Blockchain Consilium, a renowned blockchain auditing firm.
Want More?
For a full breakdown of the YFDAI project, please check out our whitepaper on our website!
https://yfdai.finance/images/Pdf/YFDAI%20Whitepaper.pdf
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