TopicStarter: yalpha.finance –
|Registrar domain||NameCheap, Inc.|
|Domain reg * exp||2020-09-06 * 2021-09-06|
YALPHA is a project heavily inspired by the yearn.finance (YFI) and brings many of the same functionalities YFI project brought, but with some other crucial advantages.
With the coming surge of DEFI farming platforms, there have been more and more platforms where the development team �pulls the rug� on the investors, sells all of their holdings and crashes the price.
On most of the platforms, you only hear about them until it�s too late and when the development team pre-mined most of the initial supply without having done proper marketing. This procedure is something that is called �ninja mining� and is done purely because of obvious interest from development team to control most of the supply.
Not only are these both scenarios morally wrong, they have one thing in common and that is that the initial development team controls most of the token supply which encourage them to dump on the market and in general control the price movement of the token. This distribution is not a fair one.
Solving the problems of controlled supply
We at YALPHA plan to solve the problem said in introduction by first providing the initial distribution to the investors and market the whole process as much as possible so that the price isn�t controlled by anyone, but the free market, while the development team also has motivation to work on the project through fair distribution which will be described in the next part of this document.
First let�s talk about the functionalities of YALPHA, design and what our goal is.
Basic functionalities of YALPHA
YALPHA incorporates some of the functionalities that other DEFI coins have which makes it possible to stake pool tokens and earn YALPHA by doing so.
All you have to do is click stake button and deposit the tokens through pools which will also provide liquidity to YALPHA. You will then deposit the tokens to the smart contract and the smart contract will give you rewards based on the percentage you have in the current pool you�re staking in. You will also have estimated 24 hour reward written which will show you how many of the tokens you will mine in the next 24 hours.
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The main difference in comparison to the other projects is that YALPHA incorporates farming and inflation of the token much more delicately. While many other projects have fixed inflation and reward rate, or a reward rate that is done in a similar way with reducing token rewards by half after a certain period of time, YALPHA enables community voting which can increase or decrease rewards after every 7 days.
With added availability of voting, the longevity of YALPHA increases, because the entire community can, in decentralized manner, which should this project move in the future. If community feels like the token has already had enough inflation, the community can lower the rewards after each week. If however, the community feels that the rewards need to increase, they can just as easily vote to increase the rewards.
Most important part of all of this is that the community decides what happens with supply and not the development team, which is not true for most of the projects where development team holds most of the supply.
Distribution of YALPHA
Having mentioned all of the potential problems regarding distribution, we have decided that the best way to distribute initial YALPHA will be through a public Crowdsale which we will announce soon through our social channels (Medium, Twitter, Discord, Telegram).
The token economics will be as follows:
- 10% Supply distributed through a Seed Crowdsale
- 70% Supply distributed through a public Crowdsale
- 10% Research and Development(distributed partially during 1 year)
- 10% Marketing
Initial Maximum Supply 100.000 YALPHA
The Maximum Supply of YALPHA will be 100.000 YALPHA depending how many of the tokens get sold out during the Crowdsales. The rest of the YALPHA will be burned until the proposed percentages of distribution are met.
We think that distributing the tokens fairly at the beginning provides the investors opportunity to get in early and to be part of the project right from the start. It also gives the Marketing Team funds to market the product while the Development Team receives the funds throughout 1 year in order to prevent the �rug pull� where the team dumps their entire stash on the investors.
Further details regarding Crowdsale will be released at the end of this week.
Opening of Pools
After the Crowdsale, there will be opening of YALPHA-USDC Seed pool. The date of opening of this pool will be released soon.
The details of other pools opening will be released as soon as the initial Seed pool opens.
On our site: https://yalpha.finance , we have put the Roadmap with the goals we plan to achieve until the end of 2020.
Unfortunately we are not allowed to announce what we plan to do in the beginning of the 2021 right now, but soon we will provide you this information.
Join us on our other social platforms so that you can stay updated with our announcements:
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