DeFi market has grown exponential within the last six months. Many DeFi projects price has double and some triple their prices within short period due to the higher profits returns they promised. For instant, Synthetix Network Token market price has risen more than 20 fold, and Aave by 200-fold. A new platform have been developed to rivalry the market leaders such as Uniswap, Compound, Aave and JustSwap to mention but few, this new platform is called YFSwap.
YFSwap is a financial platform based on Blockchain technology and using the concept of decentralized finance, the AMM based Dex platform was created with the aim of becoming a universal platform with a large number of cryptocurrency pools and options.
Initially there will be 2 options on the YFSwap platform, YFBTC and YFETH, which will temporarily use the Uniswap LP pool and use the independent LP pool when the pool liquidity meets the criteria.
As we know, Uniswap is currently sharing the revenue from swap fees with its own major investors, where on the YFSwap platform, all users can get more than Uniswap and Sushiswap as a result of the results.
YFBTC (21,000 Total Supply)
Users will automatically gain YFBTC in their wallets for each referral via the smart contract.
Users who want to purchase more YFBTC will have to do it Via UNISWAP, (0x236Ba1c2DB0a19D04D84e9Fd4AAB22d10b19C6Cb). Note that there are fake YFBTC already in the market with no utility or any other value.
In order to start the Uniswap trading process, 1% of 21,000 YFBTC (210 YFBTC) will be sold in Uniswap in 3 stages, and 950 YFBTC is for initial private contributors that help fund the initial phase for YFSwap. Before purchasing, please confirm it is the correct YFBTC Contract address.
TOTAL DISTRIBUTION OF YFBTC
YFBTC will be distributed in the spirit of YFI, only 5.5% Pre-mine, no Founder shares, no VC interest. simply equal-opportunity staking distribution to attract a broad and vision-aligned community to steward the future of the protocol and token. The total amount of YFBTC is 21,000.
YFETH (75,000 Total Supply)
As the user continues to mine more coins, it is likely that This will essentially lead to huge inflation, an example is easily found with DeFi-produced farm coins which have a supply of over 100 million.
So the solution is to encourage holders, and prevent short-term opportunists. This will leave sufficient time and space for strong positive price growth where demand exceeds supply.
Charge a fee on transfers and claims.
These fees are then used to buybacks into the system, causing a positive demand.
5% fee will be incurred on transfers. 94% is used to buy back and 6% will be dev fee.
WE DO NOT ENCOURAGE PURCHASE OF YFETH. BUT BETTER THAN RUG PULLS OR FOOD DEFI. But if you still want to proceed, click on participate in Campaign.
CROWDFUNDING & CLAIM FREE YFETH INSTRUCTIONS
To qualify for the airdrop, your metamask wallet must EITHER have “300 UNI, 300 BITTO, 0.5 YFI, 300 BAL, 300 LINK, 300 BNB, 300 HT, 300 OKB, 300 BAND, 300 NXM”. YOU will be eligible for FREE 3 YFETH tokens.
Use your Metamask wallet to send ETH to the crowdfunding address, Do NOT SEND FROM EXCHANGE.
YFETH will be automatically sent to your source address according to the source address of your ETH via smart contract.
Multiple ETH can be transferred, automatically aggregated.
The initial amount of YFETH is 75,000, and the number of YFETH Free airdrops is 39,125. Another 35,875 YFETH will be allocated for Crowdfunding to help maintain server and project sustainability and future development. But any YFETH left from crowdfunding will be burned and will NOT be kept by team or developers to ensure maximum decentralization of YFETH supply.
YFETH will end the airdrop and tokens must be claimed before 16th Oct 2020. YFETH will also be listed on Uniswap decentralized exchange. Potential additional exchanges to be listed are Hotbit and Bilaxy.
CROWDFUNDING RULES
The total amount of the first phase of crowdfunding is 8,500 YFETH, and the crowdfunding time: Starts Stage 1 from 7th Oct 2020 (UTC+8) to end at the 16th Oct 2020 (UTC+8) or until 550th ETH received.
Crowdfunding price 1 ETH = 100 YFETH
The end of the first round of crowdfunding is subject to the 85th ETH received by the crowdfunding address.
The total amount of the second phase of crowdfunding is 12,375 YFETH, and the crowdfunding time: the 250th ETH received by the crowdfunding address to 11th Oct 2020 (UTC+8)
Crowdfunding price 1 ETH = 75 YFETH
The total amount of the second phase of crowdfunding is 12,375 YFETH, is subject to the 250th ETH received by the crowdfunding address.
Crowdfunding price 1 ETH = 50 YFETH
The total amount of the third phase of crowdfunding is 15,000 YFETH, is subject to the 550th ETH received by the crowdfunding address or until 16th Oct 2020 (UTC+8) whichever comes first
The quota is sorted by time, and tokens are issued, the earlier the participation, the greater the success rate. If the crowdfunding is completed you will receive YFETH.
The purchase will be refunded automatically if the purchase is not successful, 1 address can only purchase up to 25 ETH to avoid monopolization and ensure decentralization of YFETH assets.
TOTAL DISTRIBUTION OF YFETH
The initial amount of YFETH is 75,000, and the number of YFETH Free airdrops is 39,125. Another 35,875 YFETH will be allocated for Crowdfunding to help maintain server and project sustainability and future development. If there is any YFETH left from crowdfunding or airdrops, it will be burned and will NOT be kept by team or developers to ensure maximum decentralization of YFETH supply. YFETH follows Constantinople ETH upgrade protocol.
We reserve the right to cancel airdrops to users who we deem abusing the system. We hope to reserve this opportunity for other users.
This airdrop enables machine learning to identify cheating. Those who are identified as cheaters will cancel the airdrop, and those who participate in the recognition will return ETH.
TOTAL DISTRIBUTION OF YFETH
• The initial amount of YFETH is 75,000, and the number of YFETH Free airdrops is 39,125. Another 35,875 YFETH will be allocated for Crowdfunding to help maintain server and project sustainability and future development. If there is any YFETH left from crowdfunding or airdrops, it will be burned and will NOT be kept by team or developers to ensure maximum decentralization of YFETH supply. YFETH follows Constantinople ETH upgrade protocol.
To get clearer information, please visit the link below:
● Website: https://www.yfswap.finance/index.html
● Medium: https://yfswapfi.medium.com/
● Telegram: https://t.me/yfswap
● Github: https://github.com/abanshinoburu
Author : harum93
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