YFDAI (YF-DAI) has up to date its 2021 roadmap on the heels of launching the SafeSwap Governance Token, SSGT. The launch of this token achieves a serious aim set for Q2 of the yr, and with greater than half of the quarter nonetheless forward, customers can anticipate a number of modifications for present YFDAI merchandise in addition to additions to what YFDAI has to supply the DeFi neighborhood. The roadmap for Q3/This fall identifies upgrades for YFDAI’s core product line of safety-centric ‘rug pull proof’ DeFi merchandise, new merchandise set to launch, and the foundations being laid for enlargement into insurance coverage additional down the highway.
Since releasing their roadmap, YFDAI has additionally introduced a partnership with Polygon (previously Matic), by which YFDAI will make the most of the Polygon protocol and blockchain framework to resolve inherent Ethereum gasoline points, whereas enhancing scalability and interoperability of YFDAI’s ecosystem. The two firms may also share assets by which YFDAI’s LaunchPad tasks will be capable to simply record on QuickSwap, Polygon’s native Dex. YFDAI plans to totally transfer their DEX, SafeSwap, to Polygon, with extra info to comply with.
The SafeSwap Governance Token is Here
SafeSwap limits consumer publicity to illiquid tokens and rugpulls by upholding rigorous requirements for tasks wishing to enter their tokens onto the YFDAI’s DEX. The newest token to be added to SafeSwap’s liquidity swimming pools is now its personal and it has a number of noteworthy utilities. YF-DAI holders, stakers and farmers had been eligible to obtain SSGT through airdrops that had been introduced over the previous 6 weeks, and earn SSGT in different methods. In addition,the tokens can be purchased via the SSGT public sale on Tuesday, May 11th.
SSGT has a number of makes use of past its retailer of worth because the token of a profitable DEX. These makes use of embody voting rights within the DAO, liquidity rewards from SafeSwap, staking rewards of 72% a yr, and elevated allocations for upcoming presales. Further particulars concerning the token’s utility governance rights and NFT rewards will be discovered here. YFDAI has additionally revealed an in depth record of FAQs about its newly launched token.
Lending and Borrowing Launch Leads Q2 Updates
After receiving a token of its personal, SafeSwap can be wanting ahead to a refresh within the weeks that comply with. Additional modifications for present merchandise embody a ramp up for YFDAI LaunchPad tasks and an replace for SafeTrade’s low-risk, low-frequency automated buying and selling bot algorithms. Since its launch earlier this yr, LaunchPad has offered an incubation area for high quality and vetted tasks to draw the eye of traders, and extra new tasks can be on provide as Launchpad has confirmed to be a hit of its personal.
The largest information for Q2 after the launch of SafeSwap’s token is YFDAI’s entry into lending/borrowing. The potential to collateralize and borrow in opposition to property continues to show itself a necessary pillar of DeFi, and this June YFDAI expects to make its long-awaited entrance into the market. Details concerning the launch are forthcoming, however it may be assumed that YFDAI’s lending/borrowing platform can be branded equally secure as its different additions to the DeFi ecosystem.
Updates and Additions for Q3/This fall
Releases introduced for Q3 imply one other thrilling quarter is anticipated for customers as a debit card, cell app, and new product launch, SafePredict, are all set to reach. While the issuance of a debit card and cell app assist spherical out the discharge of core options introduced by YFDAI in 2020, SafePredict follows a more moderen development rising in recognition for predicting the long run costs of cash. SafePredict will rollout with YF-DAI as its primary token and plans to increase to ETH, BTC et al sooner or later.
The third quarter may also welcome enlargement onto a layer 2 resolution (though this can probably come a lot sooner), rising transaction speeds, decreasing charges for customers, and serving to to decrease the general congestion of the Ethereum community. Expansion onto a layer 2 resolution will imply extra transactions will be executed for much less gasoline, and this could in flip assist spur on future developments and extra advanced merchandise that rely on a number of transactions. Furthermore, YFDAI will start modeling its insurance coverage product because it progresses step-by-step in the direction of coming into DeFi insurance coverage.
Plans slated for This fall embody launching a brand new customer support platform, integration with ecommerce following the discharge of a debit card, and the exploration of bridging DeFi with real-world property. Looking ahead to those up to date targets from right this moment’s vantage level, YFDAI seems poised to increase the DeFi neighborhood’s entry to security-focused instruments effectively into the brand new yr