Frogs! Today, the first round of rewards will be distributed to governance vault stakers. A big piece of the Linkswap ecosystem puzzle will be put in place. We will be activating the purchaser contract, which will market-buy YFL by selling the underlying assets and sending YFL to the yYFL contract for distribution to stakers. Unstaking YFL will claim your rewards as your yYFL is converted back to staked YFL + distribution.
Please keep an eye out for further announcements on this!
We now enter a new phase of development where the aim above all is to deliver governance vault stakers the most revenue possible. We wanted to take this moment to further articulate a roadmap for the next months;
What has been delivered
- Linkswap + 8 weeks of LP rewards
- LINKPAD’s two first community fund investments ($SOV and $DOKI)
- Unique token launches such as $MASQ, $DOKI, $AZUKI and $CFi
- 24 Languages, 7 unique and fun UI themes
- Wyre integration allowing direct debit/credit card purchases
- renDOGE bridge and the first renDOGE listing on Ethereum with the largest liquidity across all DEXes
- YFLUSD as the ecosystem stablecoin
- New ongoing reward pools for $YFL, $YFLUSD, $sYFL, $YAX, $DOKI & $AZUKI
Still to come
- Governance vault rewards distribution (today)
- RugLock, permissionless token listing, permissionless LP rewards (autopool)
- Additional integration of Ren bridges
- MemeTeam app with a brand new updates interface!
- Unique swap user interface UX for new users
- SPROUT - presale launch platform
- LINKLEND - upcoming lending platform
- Two upcoming partnerships!
We have A LOT of other plans, collaborations, partnerships and initiatives we’re working on that we wish we could share here, but we want to complete the transition and ensure all upcoming projects are set in stone before announcing! ;)
Stay tuned for official developments and please join our Discord or Telegram to help contribute!
One of the greatest foundations at Linkswap is that we have a strong and dedicated community. Many have been rising through the community ranks and taken on bigger roles over the past weeks and months. However, up until now it has been Roy Blackstone as the full time project lead, operations manager and leader with no other dedicated full-time roles. This has led to an enormous breadth of responsibilities resting on Roy’s shoulders. In order to sustain the project long term with an effective team, YFL founders including Shaftoe, core contributing team members including Roy, and respected non-team community members including Yolau, have identified and selected a full-time team of talented members to lead the project going forward.
The three community members that will be doing this are Palis, Morty, and Linkie Link. Morty and Palis will share responsibilities as co-project leads and Linkie Link will be in charge of front-end development of the suite of Linkswap products and websites. Back-end development will be contracted on a per-project basis through our network of high quality back-end developers including Tec and Arcsin2X. Roy will stay on the board of LINKPAD, but will otherwise transition away from the operations of Linkswap.
To finance this core team, a proposal will be put to the community to allocate 30% of the treasury share of the Linkswap protocol fee, with the remaining 70% continuing to be the community treasury fund for governance-voted proposals. This amounts to [.3% protocol fee > 10% to treasury > 30% to core team = .009%] and aligns the incentives of the core team with the stakers in the governance vault and with increasing volume on Linkswap. For some context, this fund will be bringing in ~$30,000 annualized rate at current volume.
In order to give this core team time to scale volume, YF Link founders including Shaftoe, as well as liquidity provider 0x_b1, have generously pledged to fund the core team to provide some runway until Linkswap volume can reach sustainable levels.
As the project looks forward, the three of them are taking over the biggest role: leading Linkswap into this new phase of development.
The core team will be supported by a network of community contributors, who have and will continue to be receiving compensation for high contributions to development or operations to improve Linkswap. The core team should also be seen as a vehicle to stimulate and streamline community initiatives and proposals (e.g. SPROUT). Beyond Linkswap operations, the core team aims to empower the community!
Roy to LINKPAD
With the new core team assuming full responsibility for Linkswap operations, current Linkswap project lead Roy will continue on as part of LINKPAD. This puts Roy in the position to fully focus on leveraging his network to deliver revenue for Linkswap governance vault stakers.
The first round of LINKPAD profits from the Sovryn investment is slated to be delivered to the governance vault in the coming weeks.
Governance forum: https://gov.yflink.io/