YDF 2022 Overview / 2023 Outlook
The Road So Far…
Whew! We made it! What a wild ride 2022 has been.
From rising inflation and interest rates to the collapse of several established platforms, 2022 is definitely one for the history books. If you are still here, congratulations, you’ve gained enough crypto experience to level up.
It wasn’t all bad though! There were some good projects launched in 2022, specifically the one you’re here to read about — Yieldification (YDF) !
Yieldification is a fully decentralized protocol offering brand-new mechanisms such as: tradable stake NFTs and a Perpetual Futures Trading Platform. If you are new to Yieldification, we highly recommend reading through our documentation.
As “young” as Yieldification might be, lets take a look at some of the highlights of 2022:
- August — YDF launched with unique staking NFT utility.
- September — Perpetual Futures Trading Platform launched using Chainlink Automation.
- October — YDF launched on the Arbitrum Network with our own home grown Bridge.
- December — NFT Marketplace and Referral Codes launched.
We take pride in having delivered on all promises made in 2022, and 2023 will be no different!
The Road Ahead…
Regardless of how long these bear market conditions last, we will continue to build and innovate until the wheels fall off, and with that being said, we have many exciting things are planned for 2023!
OTC Trade Platform
This Over-The-Counter (OTC) Trade Platform will allow users to directly buy or sell ANY ERC-20 token (not just YDF) with each other. Users will be able to set their own price and trade without affecting the token’s chart.
As part of YDF’s innovation, users will also be able to package multiple tokens into a single trade to perhaps offer a bundled discount as they see fit.
We estimate the launch of our OTC Trade Platform to be around February 14th as a Valentine’s Day present to all 😙.
DAO Implementation
Decentralization is the key component to everything YDF does and a Decentralized Autonomous Organization (DAO) will be essential in keeping with this spirt.
Holders will be able to submit proposals to the DAO for any changes they would like to see on the platform.
Other holders will then vote to approve or reject these proposals, and if approved, our team will begin implementing said changes.
Voting power will be based on not only the amount of YDF being held, but also the quantity of YDF the holder has staked and how long it is staked for.
We estimate the DAO to be launched by Easter, April 9th (yes, we love holidays as deadlines 😜)
Chainlink Low-Latency Price Feeds
Our integration with Chainlink is essential for our Perpetual Futures Trading Platform to be decentralized, however, it is not without its limitations.
For the best trader experience on our futures platform, price feeds need to be at or very near real-time, otherwise any delay in price updates will allow for an advantage to those watching real-time, which is why we have restrictions in place.
Chainlink’s Low-Latency Oracle Solution will change that and allow us to remove all trade restrictions.
Unfortunately, we do not have an estimate for when we will be able to get our hands on these new price feeds. We are in communications with Chainlink and are ready to drop whatever we are doing to work with them and implement this new solution into our platform as our top priority.
Lending
DeFi has created a number of very unique implementations for being able to use and spend money in a decentralized manner, including lending/borrowing assets based on some collateral. We are bringing said concept to YDF by allowing stakers to put their sYDF or slYDF up as collateral and borrow liquid assets against the principal.
More details about this lending utility will be released as we start to build and plan its launch sometime in Q2 of 2023.
Holiday Giveaway!
To end 2022 and start 2023 off right, we will be giving away TWO YDF Staked NFT’s! One random winner will be selected for simply having their NFT listed on the YDF Marketplace and one random winner will be selected for buying or selling a YDF NFT on the YDF Marketplace.
Eligibility rules are as follows:
- List your YDF NFT on the YDF Marketplace by January 1
- Staked principal must be $250 USD or more
- List price must be REASONABLE (See our NFT Price Guide)
- Keep your NFT listed through January 15
Listing an NFT that meets the above criteria will make you eligible for ETH NFT #1137:
If your NFT is sold or if you buy an NFT that meets the above criteria, you will also be eligible for ETH NFT #340:
At the end of this promotional period (January 15), we will randomly select two winners to receive these YDF stake NFTs. Not only do these have high principal values, they are also APR percentages that you cannot obtain anymore, making these all the more valuable!
The YDF Team wishes everyone Happy Holidays and we look forward to bringing you all these new and exciting things in 2023!
