Yummy Update — 09
Dear Yummy community,
It’s been a while since our last update and some of the topics are already outdated. But regardless, everything major is included.
Happy reading!🎉🎊
This edition:
- News Update
- 90 Day Vault ended
- AMA With Joe Foot on TG
- Double Staking Pool Announcement: YUMMY-BRAINS
- Fifa World Cup Gladiator Pools
- Return of $YUMMY burns
- Bitmart de-lising
- Staking Pool Announcement: BRAINS-BRAINS
- Yummy stats
- YUSD stats
- Staking platform stats
- Growth fund stats
- 12th Bonfire event results
🔸News Update🔸
Let me start by wishing everyone of you a happy new year. I sincerely hope we will see some bullish times and gains in 2023 🎉
Since our latest update article we focussed primarily on the World Cup Gladiators and the re-introduction of the $YUMMY burns. The markets haven’t been to great to say at the very least and several world wide macro events aren’t helping the cause neither. The way things are looking right now is that 2023 could turn out to be a very tough year for crypto investors.
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In recent months, the FTX collapse has been the main focus in the world of crypto. A lot of investors lost a significant amount of funds and since that event all eyes are on Binance. Can CZ prove Binance is 100% safe? It’s inevitable at this point that Binance will face a lot of regulatory scrutiny, but as to date CZ has been handling it all like a true champ and we (team Yummy) are very confident in the ability and transparency of Binance and BNB as utility token. Therefore, our central strategy of binding to BNB through our Growth Fund remains unchanged at this point.
Let’s hope Binance comes out victorious after the regulatory battles to come 👍🏻
🔸90 Day Vault ended🔸
The rewards from the vault have been adjusted to reflect the withdraws. All together there were 6,272,549,441 tokens withdrawn from the vault after the non-whitelist TX was placed in effect (around 8/11/22 at 21:00). The yield on the front end should reflect all the adjustments,
Also note that the backdating of rewards only goes up until the time you claimed any rewards. If for example you had tokens in the vault and claimed some rewards, the boost only goes up until the last time you claimed. Another reason why the vault is better left alone for the entire duration.
Vaults was whitelisted on Saturday around 9pm EST 5th of November 2022.
🔸AMA With Joe Foot on TG🔸
A team AMA with Joe Foot was held on Telegram. Joe discussed some of our future plans regarding burns and our attachment with Binance. The full recording can be found in our official Telegram group.
🔸Double Staking Pool Announcement: YUMMY-BRAINS🔸
We managed to secure a new staking partnership with Brains-Dao. Be aware, by the time of the writing of this article these particular pools have already concluded.
The full article about this partnership can be read HERE.
🔸Fifa World Cup Gladiator Pools🔸
For the newest addition in our “Gladiator Pools” we introduced the sports variant. Kicking it off with Fifa’s 2022 Football World Cup.
Yummy holders were able to stake $YUMMY in 16 staking pools each representing a team (country), for example Spain and Argentina. The winner of the World Cup would get its pool loaded with rewards and become harvestable.
Full article can be found HERE.
The World Cup was won by Argentina so their pool was loaded with rewards and everyone staking in the Argentina pool was able to harvest their yields. An additional 250mil $YUMMY was gifted to a random user of the Argentina Pool (with a minimum of 25mil $YUMMY).
The winner was:
0x68fc07339b2f0854e408bafbd38cf87c5c62c0bc
We saw a good increase of staking platform activity during this event and we are excited to bring you more sports related Gladiator Pools in the future👍🏼
🔸Return of $YUMMY burns🔸
🔥To kickstart our return to regular Burns, we sent some Yummy to the burner!🔥
1,000,356,940 Yummy are now gone forever (around $2,500 at current prices)
This marks our 28th WEEKLY burn 👍
In their short lifespan Thanos and V2 have burnt 95.1B tokens!
Stay tuned as we will be burning a LOT more tokens in the future!
TX of the Burn.
🔸Bitmart de-lising🔸
We received notice that unless we dramatically improve the liquidity of the Yummy-USDT pair on Bitmart they are going to delist the token.
After very careful consideration, we decided not to meet their demands. It wasn’t easy but ultimately this is the right call due to the following reasons:
1) Since FTX collapse, CEXes volume and user count have decreased dramatically. This is no longer an environment where CEX listings give you lots of exposure or trading volume. Bitmart has been a great platform but the entire pair is riddled with trading bots and recycled trading. Probably less than 10% of volume is from actual users.
2) Adjusting the liquidity requirements to meet the requests would cost us about $3,000 a month in market making services. Honestly, I think that is money down the drain as it would not give us any significant competitive advantage or attract new users, at least not in this environment. That money is better off being used for Yummy burns and buybacks.
3) The CEX environment will continue to deteriorate for the foreseeable future. I suspect most will have a tough time meeting whatever new regulations come into place not to mention potential crisis of solvency like it occurred with FTX. So it reduced CEX exposure is not necessarily a bad thing or at least not as bad as it used to be.
With that in mind, we are sorry to no longer do business with Bitmart but unfortunately they left us with little choice. WE fully understand and appreciate their rationale to delist low volume pairs so we’ll just have to adapt. The token pair was delisted on 12/5/22.
To our understanding you are still able to withdraw even after that, but trading will most likely stop at that moment. Personally, we would remove them before the deadline just to be on the safe side but to each their own.
🔸Staking Pool Announcement: BRAINS-BRAINS🔸
For Brains-Dao we created their own dedicated staking pool.
Stake $BRAINS, Earn $BRAINS 🧠
This and the FOXV2 and SAVE pools are basically key to have guaranteed traffic to our staking platform and exposure to Yummy 👍🏼
🔸Yummy stats🔸
Price: $0.0000022
Total supply: 404,899,730,099
Circulating supply: 369,978,503,525
Market cap: $813,952
Total burned: 595,100,269,901
🔸YUSD stats🔸
Price: $0.62
Total supply: 750,000
Circulating supply: 434,858
Market cap: $269,611
🔸Staking platform stats🔸
Pools:
Yummy-Yummy total staked: 149,221,021,091 Yummy
YUSD-Yummy total staked: 374,891 YUSD
Vaults:
-
Partners:
SAVEV2-SAVEV2 total staked: 13,211,104,693,251 SAVE2
BRAINS-BRAINS total staked: 11,807,632 BRAINS
FOXV2-FOXV2 total staked: 44,187,150 FOXV2
Gladiator:
-
Inactive pools:
YUSD-Yummy total staked (inactive): 2 YUSD
Yummy-YUSD total staked (inactive): 95,693,890 Yummy
Yummy-Yummy 90 days total staked (inactive): 6,810,837,813 Yummy
Yummy-Yummy 90 days total staked (inactive): 2,492,541,572 Yummy
Brains-Yummy total staked (inactive): 11,588,503 BRAINS
Yummy-ORE total staked (inactive): 83,810,581 Yummy
ORE-ORE total staked (inactive: 262,006,282,849,996 ORE
Yummy-RISE total staked (inactive): 337,095,976 Yummy
RISE-Yummy total staked (inactive): 9,209,817 RISE
Yummy-FOXV2 total staked (inactive): 117,104,481 Yummy
FOXV2-Yummy total staked (inactive): 888,244 FOXV2
FOXV2-FOXV2 (inactive): 167,371 FOXV2
SAVEV2-SAVEV2 total staked (inactive): 9,181,971,762,482 SAVEV2
SAVEV2-Yummy total staked (inactive): 5,833,187,321,153 SAVEV2
Gladiator total staked (inactive): 4,426,164 Yummy
Total staked:
159,162,531,568 Yummy → $350,157
374,893 YUSD → $232,433
9,209,817RISE → $1,436
45,242,765 FOXV2 → $39,587
28,226,263,776,886 SAVEV2 → $6,774
262,006,282,849,996 ORE -> $17,816
23,396,135 BRAINS -> $1,902
TVL:
$650,105
🔸Growth fund stats🔸
3,921 BNB in Validator Staking → $1,062,591
Net worth: $1,015,539
Total $YUMMY buybacks: $469,805
🔸12th Bonfire event results🔸
Bonfire Drawing is now complete 🔥🔥
The winner is
0x8f5fea5f22646d956e99c4af77059e9085a0fb13
Congratulations to the winner 🎩
Prize Pool:
98,095,766 Yummy
This concludes the update. 🤝🏼🤝🏼
As always, Team Yummy will always keep working and building, especially during bear markets.
See you all next time, and please stay tuned for more content👍🏼👍🏼
Best,
Team Yummy
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