YFDAI (YF-DAI) has updated its 2021 roadmap on the heels of launching the SafeSwap Governance Token, SSGT. The launch of this token achieves a major goal set for Q2 of the year, and with more than half of the quarter still ahead, users can expect several changes for existing YFDAI products as well as additions to what YFDAI has to offer the DeFi community. The roadmap for Q3/Q4 identifies upgrades for YFDAI’s core product line of safety-centric ‘rug pull proof’ DeFi products, new products set to launch, and the foundations being laid for expansion into insurance further down the road.
Since releasing their roadmap, YFDAI has also announced a partnership with Polygon (formerly Matic), in which YFDAI will utilize the Polygon protocol and blockchain framework to resolve inherent Ethereum gas issues, while enhancing scalability and interoperability of YFDAI’s ecosystem. The two companies will also share resources in which YFDAI’s LaunchPad projects will be able to easily list on QuickSwap, Polygon’s native Dex. YFDAI plans to fully move their DEX, SafeSwap, to Polygon, with additional information to follow.
The SafeSwap Governance Token is Here
SafeSwap limits user exposure to illiquid tokens and rugpulls by upholding rigorous standards for projects wishing to enter their tokens onto the YFDAI’s DEX. The latest token to be added to SafeSwap’s liquidity pools is now its own and it has multiple noteworthy utilities. YF-DAI holders, stakers and farmers were eligible to receive SSGT via airdrops that were announced over the past 6 weeks, and earn SSGT in other ways. In addition,the tokens can also be bought through the SSGT public sale on Tuesday, May 11th.
SSGT has several uses beyond its store of value as the token of a successful DEX. These uses include voting rights in the DAO, liquidity rewards from SafeSwap, staking rewards of 72% a year, and increased allocations for upcoming presales. Further details about the token’s utility governance rights and NFT rewards can be found here. YFDAI has also published an extensive list of FAQs about its newly launched token.
Lending and Borrowing Launch Leads Q2 Updates
After receiving a token of its own, SafeSwap will be looking forward to a refresh in the weeks that follow. Additional changes for existing products include a ramp up for YFDAI LaunchPad projects and an update for SafeTrade’s low-risk, low-frequency automated trading bot algorithms. Since its launch earlier this year, LaunchPad has provided an incubation space for quality and vetted projects to attract the attention of investors, and more new projects will be on offer as Launchpad has proven to be a success of its own.
The biggest news for Q2 after the launch of SafeSwap’s token is YFDAI’s entry into lending/borrowing. The ability to collateralize and borrow against assets continues to prove itself an essential pillar of DeFi, and this June YFDAI expects to make its long-awaited entrance into the market. Details about the release are forthcoming, but it can be assumed that YFDAI’s lending/borrowing platform will be branded equally safe as its other additions to the DeFi ecosystem.
Updates and Additions for Q3/Q4
Releases announced for Q3 mean another exciting quarter is expected for users as a debit card, mobile app, and new product launch, SafePredict, are all set to arrive. While the issuance of a debit card and mobile app help round out the release of core features announced by YFDAI in 2020, SafePredict follows a more recent trend rising in popularity for predicting the future prices of coins. SafePredict will rollout with YF-DAI as its main token and plans to expand to ETH, BTC et al in the future.
The third quarter will also welcome expansion onto a layer 2 solution (although this will likely come much sooner), increasing transaction speeds, reducing fees for users, and helping to lower the overall congestion of the Ethereum network. Expansion onto a layer 2 solution will mean more transactions can be executed for less gas, and this should in turn help spur on future developments and more complex products that depend on multiple transactions. Furthermore, YFDAI will begin modeling its insurance product as it progresses step-by-step towards entering DeFi insurance.
Plans slated for Q4 include launching a new customer service platform, integration with ecommerce following the release of a debit card, and the exploration of bridging DeFi with real-world assets. Looking forward to these updated targets from today’s vantage point, YFDAI appears poised to expand the DeFi community’s access to security-focused tools well into the new year
Credit: Source link
