Frogs! We're happy to announce a new initiative for the YF Link ecosystem, LINKCHECK. During development of LINKSWAP we've come across many individuals, teams, and special interests that have asked for an initial launch pair, an incentivized liquidity pair, or otherwise.
One thing that we feel is important moving forward is community trust, transparency, and security when it comes to investing in new projects and tokens. This community good will does not come freely - in the light of recent rugs, exploits, and other instances, it became apparent that a curated system with "tokens of trust" would serve the greater interests of YFL holders.
As such, we have designed the LINKCHECK Initiative - a system whereby teams can apply to get a grading from leaders in the YFL ecosystem. This grading represents a level of thorough due diligence has been made into the applying team, tokenomics, and communities to ensure that community trust is not misplaced.
We consider this as the ethical flipside of a smart contract audit, and while code can be checked against formal specifications and deemed secure, there currently exists no market option when it comes to the ethical side of those same formal questions.
For project developers, the initiative specifies an effective method to prove trust and legitimacy. There's an enormous outcropping in DeFi of anonymous teams that want to espouse validity without sacrificing anonymity, and is a currently unaddressed market. Anonymous teams can apply for the LINKCHECK verification and go through our trusted due diligence process to gain the LINKCHECK verified badge on LINKSWAP - all without having to reveal any sensitive information to the general public.
For YFL token holders, the initiative opens up a third stream of revenue from LINKCHECK applications as well as a list of curated, elite projects which the LINKCHECK Initiative deems has passed its thorough due diligence process. If just a handful of projects apply through LINKCHECK each month, it would multiply the revenue being directed to the staking vault, further increasing profits to YFL stakers and benefitting the ecosystem as a whole.
The above will have a follow-up post shortly with additional information, full specification, fee details, and verification levels.