Any DeFi project are meant to be governed by decentralized community of token holders. Not because it’s a crypto ideology, but because YFX will continue to run as designed and remain on the path to compete with CEX and necessary for YFX to achieve long-term adoption and self-sustainability.
Bitcoin itself is the concept of a community driven crypto. But Bitcoin only design to distribute value (BTC) to people who maintain the network, which is the miner. Bitcoin holders doesn’t have the right to governance the network. YFX improve on the original Bitcoin spiritual with governance power on YFX token.
The transition to DAO will took two steps. First is to distribute value and power, which is YFX token, to everyone participate on YFX through YFX network incentive plan. Second, when enough voting power hold by the community which decentralized the power of the core develop team, YFX could enter the period of community governance.
YFX token will give the holder voting power to decided key parameters on YFX. It also enables future development work from team outside core development team, it can make sure when new technics came out, YFX could catch up with the trend to evolve by itself.
As the first DEX that offer 100x trading leverage, YFX’s accumulated trading volume has passed $10 Million in a couple of weeks after launched on TRON and Heco. With more than 100,000 address participate trading on TRON and Heco. YFX trading system has met our expectation, and now it’s the time to move to the next stage to transfer YFX to a DAO.
