Announcement on YFX.COM Governance Token Distribution Adjustment
Up to now, the YFX.COM has successfully launched two rounds of Genesis Mining, with huge number of participants, the cumulative trading volume has exceeded 2.3 billion US dollars, and TVL has exceeded 15 million US dollars. A total of 6 million tokens have been rewarded to users, accounting for 6% of the total token supply. At the same time, YFX.COM has completed strategic financing on April 12, 2021 from institutions such as NGC Ventures, SNZ Capital, DFG Group, Bixin Capital, Youbi Capital, Spark Digital Capital, Winkrypo, etc.
The entry of institutions is the capital market’s recognition of the potential of YFX.COM, and it will also give YFX.COM better branding influence. These investment institutions will become an important part of the YFX.COM ecosystem and play an important role in the future key nodes development of the project, in order to achieve the vision of HP Finance to better serve global users.
In this process, we realized that a wider distribution of tokens in the market and more active strategic investors can be beneficial to promote the growth of our platform. Combining investors’ desire for asset liquidity and the current market situation, we decided to adjust the distribution of tokens on the governance platform.
Adjust the distribution as follows:
1. The proportion of community users will be adjusted from 60% to 50%: Distribution will be through airdrops, mining, risk compensation, security rewards, community rewards, etc. The estimated distribution cycle is 3 years. Among them, 50% is distributed in the first year, 25% in the second year, and 25% in the third year.
2. 15% for strategic investors: for the benefit of early ecological investors and IDO’s market pricing. Strategic investors will unlock 30% initially, and the remaining part will be unlocked linearly in one year.
3. 25% for the founding team + early equity investors remain unchanged: the team and equity investors initially release 20%, the remaining equity investors will unlock linearly within 1 year, and the founding team will unlock linearly within 2 years.
4. 10% for the newly added foundation reserve: used to support the construction and improvement of the ecosystem, the related costs of the circulation of the head exchange, the construction of related partners, the internal insurance fund of the system, etc.. Unlock when needed, before unlocking Will be announced to the community simultaneously.
YFX.COM is committed to create an ecosystem to achieve a win-win situation for everyone. In general, this is a major adjustment of its own token supply and demand structure in order to conform to the trend of market development. At the same time, we have also achieved major innovations in business and technology, and will be more active in introducing more high-quality resources to serve users around the world. Under the continuous development of the market, we believe that the platform will bring huge surprises to users and investors!
About YFX
YFX.COM is a cross-chain decentralized perpetual contract platform based on Ethereum, Binance Smart Chain, Huobi Ecological Chain, TRON, OKEx public chain, and Polkadot. It provides up to 100 times the perpetual contract trading BTC, ETH and other assets. Different from the common automatic market maker model (AMM), YFX.COM adopts the QIC-AMM market maker pool trading method to provide users with high liquidity and low trading slippage. YFX.COM has successfully supported layer2’s perpetual contract trading function. YFX.COM’s goal is to build a DEX that can compete with CEXs on the derivatives trading track.
YFX official contact information:
Website: https://www.yfx.com/
Twitter: https://twitter.com/YFX_COM
Medium: https://yfxdefi.medium.com/
Telegram: https://t.me/YFX_COM
Discord: https://discord.gg/xwAtjpabC5
Media Contact: media@yfx.com
