Frequently Asked Questions
The YDF team is not publicly doxxed and plans to stay that way for the time being to protect our privacy and support focusing on product development, however, the team is KYCed through AssureDefi. AssureDefi is one of, if not the most respected KYC providers in the space who have procedures and processes in place to pursue any legal or compensatory action against a team KYCed through them who act maliciously or with ill intent Information about the team can be found on the YDF Team page.
Sniper bots that buy up the supply of a token at launch can cause issues for a project's growth. YDF's contract code launched with an anti-sniper feature in that if any wallet that bought within the first 3 blocks of launching, the wallets were automatically blacklisted On Ethereum, YDF was launched on block 15269896, and as such any wallet that bought YDF in block 15269896, 15269897, or 15269898 were automatically blacklisted to protect the integrity of the launch. The following 13 wallets were caught as sniper bots and were automatically blacklisted:
These wallets contain a combined total of 44,608,663 YDF that has effectively been taken out of circulation.
Total Platform PnL is negative due to whale traders taking advantage of the market crash caused by the FTX situation combined with using the platform while we were fine tuning the profit restrictions before we are able to remove them by implementing a low latency solution.
This does not deter us one bit, in fact, we're happy to see traders making profit. We feel that over time, the Platform PnL will flip to be profitable, as we can see great progress being made with the 30 day and 60 day PnL trends on the dashboard.
Adding additional YDF to an existing NFT staking is not possible, nor particularly desired as adding YDF to a high APR NFTs would add exponential emissions that would not be sustainable.
The lockup period only determines how long the principal YDF is locked for. Once the lockup period has expired, the NFT can be unstaked without penalty, however, the NFT will continue to generate yield as long as the NFT remains staked. If the NFT is unstaked after the lockup period, then the full principal balance will be sent to the owner and the NFT will be burned. If the NFT is unstaked before the lockup period expires, there will be a penalty as described here.
We understand the potential benefit of bridging an ETH NFT to Arbitrum to save on gas fees, however, it is not currently feasible to do this at this time. We won't say that we will never support the bridging of NFTs, but at this time, there are no plans to do this.
As new investors and stakers come on board, we continuously monitor the emissions. On February 1, the APRs were reduced from 50% / 75% max APR to 35% / 50% max APR for Single Side / Liquidity stakes. Over the following months, APRs will gradually step down to slowly reduce new emissions and maintain sustainability for the long haul.
ETH Rewards are funded by the treasury when the platform has extra revenue and are considered as an added bonus. Due to the Trading Platform PNL being negative as described above, the platform has not had any extra revenue to distribute as ETH rewards to stakers. As we build additional utilities to bring in extra revenue to the platform, ETH rewards will be available as the platform becomes profitable overall.