We've just announced IQ AI.
$YFX serves as the native token for the Yield Farming Index Protocol. It is structured to enable engagement in single-stake vaults for the $YFX token, with the goal of directing a portion of the protocol's revenue to stakers. $YFX Token holders can vote for or against proposals by the YFX Protocol on Snapshot. [1][2][3][4][5]
The presale for YFX had three distinct phases: a private sale, GMD launchpad sale, and public sale, with priority start on February 27th, 2023, at 5pm CST. During the private sale, tokens were offered at a rate of $1/YFX with a hard cap of 1,000,000 tokens at $750, 000. If the private sale failed to reach $500,000, the hard cap for all sales would be set at $1,000, 000. If sales fell between $500,000 and $1,000,000, the combined hard cap would increase to $1,500, 000.
Кeaching the hard cap, the total cap for all sales would be $2,000, 000. The public sale commenced on February 28th, 2023, at 5pm CST, concluding on March 1st, 2023, at 5pm CST, with sales reaching $2,000, 000. The total market cap and supply of YFX were determined based on the dollar amount raised during the presale, ensuring a deflationary trajectory for the token going forward.[1][6][7]
The YFX token supply distribution is structured as follows:
Additionally, the team is entitled to a 40% share of the profits generated by trades on a monthly basis.[6][8]
The tax and deflationary model employed by the Yield Farming Index Protocol features a 1% transaction tax applied to both buys and sells. Half of the collected taxes are allocated to the team, while the remaining 50% undergoes a systematic burn process.
In addition, the protocol incorporates a redemption mechanism, initiating a 48-hour burn period on the 1st of each month. During this period, holders have the opportunity to burn YFX tokens, thereby earning their proportionate share of the Redeemable Fund Value (RFV). [9]
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Edited On
March 1, 2024
We've just announced IQ AI.
Edited By
Edited On
March 1, 2024