YFSwap & YFBTC in a nutshell:
- The YFSwap team will only receive 1% of all YFBTC & YFETH farmed.
- As of 15 October, an estimated 10% only of YFBTC & YFETH are in circulation. 90% will be farmed through yield farming
- YFBTC & YFETH pools will have 2x more rewards compared to other mining pools
- YFBTC & YFETH will have transfer fee deflationary protocols. 5% for YFBTC & 2% for YFETH.
- The first AMM DEX integrating DeFi ver of BTC & ETH linking stablecoins & BTC on the Ethereum blockchain
- Updated 15 October. Deflationary Farming for YFETH.
BTC has maintained the no.1 position by having only 1 primary protocol which is halving. We will maintain this legacy with YFBTC by not adding any other additional functions.
Deflationary Farming for YFETH
Users will constantly mine more coins. This will continue in effect cause huge excessive inflation, examples are easily found with DeFi yield farming coins that have over 100 million in supply.
The solution is to encourage holders and discourage short term opportunist. This will provide enough time and room for a strong positive price growth where demand exceeds supply.
- Charge a fee on transfers and claims
- These fees are then used for buybacks into the system, causing a positive demand
- 2% fee will be incurred on transfers. 94% is used to buy back, and 6% will be the dev fee.
YFSwap also intends to deploy #YFTRX, #YFNEO, #YFLTC, #YFADA & #YFXMR, and #YFXLM.
The rapid development of the Mobile Version For Staking is also in progress to make it easy for the community to check, claim, and swap directly.
Any other sources are duplicates and will not reflect the true value of the YFSwap eco-system.
YFSWAP will integrate yield farming, staking, and DEX. The fees (0.3%) are distributed partly(0.05%) for users staking rewards. YFSwap will take 0.045% to BUY BACK YFETH, which will cause a positive price growth, whereas the rest of the 0.3% (0.205%) is shared with the LP provider.
The process is similar to UNISwap which has its own token called UNI, with an estimated circulating supply of 150 million and a total supply of 1 billion UNI.
YFSwap uses the native token called YFETH, which will start with an initial circulating supply of fewer than 75000 tokens (As of 11th November estimated only 9889), with 99.9% allocated to the public, making it decentralized and practically entirely governed by users.
YFBTC — How To Claim Or Get Referral For YFBTC?
Users will automatically gain YFBTC in their wallets for each referral via the smart contract.
Users who want to purchase more YFBTC will have to do it Via UNISWAP, (0xff034d12353867fc4228f4ae3e689cd6dcaad120). Note: there are fake YFBTC already in the market with no utility or any other value, make sure you are buying from this address.
- YFBTC will end the airdrop and tokens on October 18th, and will also be listed on Uniswap decentralized exchange; There’s a possibility of listing on additional exchanges such as Hotbit and Bilaxy.
- To qualify for the airdrop, you must have full access to your ETH wallet (MetaMask, MEW).
- To qualify for the airdrop, your Ethereum wallet must have one of the following: “300 #UNI, 300 #BITTO, 0.5 #YFI, 300 #BAL, 300 #LINK, 300 #BNB, 300 #HT, 300 #OKB, 300 #BAND, 300 #NXM”
You will be eligible for FREE 0.1 YFBTC tokens.
Only 5.6% of the tokens are Pre-mined to allow the public to have YFBTC to start LP mining, with 1000 YFBTC provided for claims (extra will be immediately burned or thrown ) leaving 94.4% left for staking and supporting YFBTC LP. There are no Founder shares, no VC interest, simply a fair and equal staking distribution to attract a broad and vision-aligned community to steward the future of the protocol and token.
YFBTC will have Genesis Rewards for the first month (3x higher rewards). Tokens releasing:
The initial set of LPs and YFBTC reward multipliers as below:
- YFBTC/ETH, 20.0x YFBTC rewards
- BITTO/ETH, 4.0x YFBTC rewards
- WBTC/ETH, 1x YFBTC rewards
- UNI/ETH, 1x YFBTC rewards
The mentioned mining multipliers are valid for the first month, and will then follow the same as Legacy BTC with halving every 6 months (BTC halving is 4 years).
Estimated mining rewards for the first 6 months is 10543 YFBTC which roughly translates to:
- est. 157 YFBTC per day ( First Month)
- est. 0.009 YFBTC per block @15s block time (2nd Months Onwards)
YFBTC will follow the protocol of halving of #BTC that is meant to preserve the sustainability of the value of legacy #BTC while reducing the amount of #BTC asset miners hold.
Instead of completing the mining in the year 2140, YFBTC will be completely mined in 4 years, Leaving it to the community to decide to expand further on the supply or maintain it to ensure long term asset value.
YFETH — How To Claim Or Get Referral For YFETH?
Using a smart contract, users will automatically gain YFETH to their wallets for each referral.
Users who want to purchase more YFETH will automatically get it via the smart contract crowdfunding function.
- YFETH will end the airdrop and tokens on October 16th, and will also be listed on Uniswap decentralized exchange; There’s a possibility of listing on additional exchanges such as Hotbit and Bilaxy.
- To qualify for the airdrop, your Ethereum wallet must have one of the following: “300 #UNI, 300 #BITTO, 0.5 #YFI, 300 #BAL, 300 #LINK, 300 #BNB, 300 #HT, 300 #OKB, 300 #BAND, 300 #NXM”
YOU will be eligible for FREE 3 YFETH tokens.
100% will either be airdropped, crowdfunded, or obtained via referral. There are no Founder shares, no VC interest, simply a fair and equal staking distribution to attract a broad and vision-aligned community to steward the future of the protocol and token.
YFETH will follow the Constantinople upgrade consensus.
- The initial amount of YFETH is 75,000, following the initial amount released by ETH at 75,000,000 ETH. The number of YFETH Free airdrops is 39,000. Another 36,000 YFETH will be allocated for Crowdfunding to help maintain server and project sustainability and future development.
What happens to leftover YFETH from crowdfunding?
- Any YFETH left from crowdfunding will be burned and will NOT be kept by the team nor developers to ensure maximum decentralization of YFETH supply, as shown in the smart contract here: https://etherscan.io/token/0x68763e696bdee1726e5a2d100fceaa5bd6c2fb3e?a=0x0000000000000000000000000000000000000001
YFETH will have Genesis Rewards for the first month (0.04 YFETH per block). Tokens releasing:
- BITTO/ETH, 2.5x YFETH rewards
- YFETH/ETH, 2x YFETH rewards
- YFI/ETH
- HT/ETH
- OKB/ETH
- BAL/ETH
- BAND/ETH
- BNB/ETH
The initial set of LPs and YFETH reward multipliers as below:
- BITTO/ETH, 2.5x YFETH rewards
- To Be Announced
- To Be Announced
- To Be Announced
The mentioned mining multipliers are valid for the first month, a timelock will then be implemented for 2 days, and will then follow the same reward scheme as Legacy ETH (2 ETH per block) with block rewards at 0.02 YFETH per block(10x lesser):
- 115 YFETH per day
- 0.02 YFETH per block (15s block time)
For more info on YFETH please visit yfswap.finance
Team rewards
We are an anonymous group of developers who believe in the future of decentralized autonomous organizations (DAO). We do not believe in pre-sale or tokens pre-reserved for the team. The team will receive a relatively low share of rewards during the entire YFETH & YFBTC farming period, which is 2.5%.
Future Notes
To avoid plagiarism of the algorithm, this update and protocol will be updated at a later date.
YFSwap also intends to deploy YFTRX, YFNEO, YFLTC, YFADA & YFXMR, and YFXLM.
Any other sources on YF legacy coins mentioned in the previous sentence are duplicates and will not represent the true value of the YFSwap eco-system.
Do take note that this is a social experiment and we believe that all YF Tokens are worthless.
🌏 Website: https://www.yfswap.finance/ & https://www.yfbtc.net/
🐥 Twitter: https://twitter.com/yfswap
📰 Medium: https://yfswapfi.medium.com/
💬 Telegram: https://t.me/yfswap
⌨️ Github: https://github.com/Yfswapfinance
👨🏻💻👩🏻💻 Learn more about YFSwap & YFbtc.net
