Contents
I. Introduction | II. Progress | III. Conclusion
I. Introduction
This is the fourth development blog detailing the development progress of Yamfore. This development blog aims to update the community on the team’s progress and provide greater transparency throughout Yamfores development process.
II. Progress
Development of Yamfore has continued steadily, and the team remains on track to deliver the public testnet this quarter. We’ve illustrated some exciting changes / milestones we’ve made as a team in this blog post.
General Progress
> The team has completed most of the design work on the loan order contract (85%)
> The development of the treasury contract and loan contract (initial stages) has been commenced.
> The testing of a few key contracts on the preview network has occurred: (https://preview.cexplorer.io/tx/b53e81041ebdd37d2b30e594515091ca4ea30da1faa1442a2e3baa4163c657e3#data)
> The team is currently in deliberation of different schemas for redeemer, datum and parameters at each step of the loan process.
> Tested plutus-apps checkout v1.0.0 alpha1 and v1.0.0
> The team has decided on a tentative plan of how to broadcast and update protocol parameters using in-line datums.
Building & Marketing Strategy
The team has set aside 1million $CBLP tokens from the teams own allocation, to aid with funding community building endeavors. These funds will be used to fund numerous community building initiatives such as: Giveaways, Sponsorships, Advertising on Cardano centric platforms eg: CardanoCube, Cardanoscan etc. As well as being further added to the teams capital reserves.
The team still stands by the mantra of the “product more than speaking for itself” as the best form of marketing, but there has been a realization / acknowledgement of gaining a respectable community size prior to Yamfore’s mainnet launch. This will ensure that the protocol garners a sufficient amount of participants from day one.
Team Vesting Schedule
As documented, the teams vesting schedule begins in q3 of this year, occurring approximately 6 months after the official mainnet launch
( In accordance with the current roadmap )
The exact details of the teams vesting schedule have yet to be finalized, but a blogpost detailing the exact breakdown of the teams vesting schedule will be released in the coming weeks, when those details are officially finalized. The team’s token allocation will also be locked in a proper vesting contract as well, to ensure no trust element is present.
Yamfore is in the fortunate position to have no venture capitalists, insider allocation or angel investors involved, so community members can expect the finalized details of the team’s vesting schedule to remain very community centric, when those details are eventually finalized / released.
UI & UX Sneak Preview
The UI / UX of Yamfore is in a finalized state, but still requires minor tweaking and adjustment. Here’s a minor sneak preview of the x3 main sections the majority of Yamfore users will be utilizing the most eg: Borrow, Loans, Market.
Borrow Section:
Loan Section:
Market Section:
*All illustrated UI /UX elements are not finalized and subject to change.
Upcoming Fair Token Offering (FTO)
The upcoming fair token offering (FTO) represents the final distribution of $CBLP to the community. A total of 25% ( 250 million ) $CBLP tokens will be allocated to the community, with all generated revenue going towards bootstrapping the stablecoin treasury.
The FTO event will be occurring shortly after the public testnet has occurred and the general Cardano community has time to have a proper “hands on’’ experience with Yamfore. The team also felt it was appropriate to deliver a working product on testnet first, before requesting further support from the community in the form of bootstrapping the protocol.
Although the exact details of the FTO have yet to be finalized, community members can expect something along the lines of a traditional token sale with added NFBO-like incentives. This ensures that free market principles dictate the price of the newly released CBLP tokens entering the market. This also ensures that currently $CBLP token holders aren’t unfairly underpriced in regards to the new influx of CBLP tokens in the market, and free market principles remain present at all times.
III. Conclusion
In conclusion, development continues without any notable issues. The team is looking forward to sharing our deliverables in the form of the public testnet this quarter. Finally, we’d like to take a moment to thank our passionate community for the constant feedback and support, it’s truly been invaluable to the team.
Follow us:
🌎 Website: https://yamfore.com/
📚 Gitbook: https://yamfore.gitbook.io/yamfore/
🐦 Twitter: https://twitter.com/yamfore
🔊 Discord: https://discord.gg/FK5qtrmRE7
🖥️ GitHub: https://github.com/Yamfore
🤖 Reddit: https://www.reddit.com/user/yamfore/
📧 Email: contact@yamfore.com
