A Roadmap. Almost…
Greetings ladies and gentlemen , cherished supporters of YGY.
What a week it has been!
We’d like to express again how appreciative we are of everyone’s support of the project and your willingness to take a leap of faith in trusting the integrity of the team. I know that trusting an anonymous team through a presale environment is fairly high risk, but this is where we are. It’s looking like a good position as our price has stabilized and we are still pushing to develop and produce every day.
From where we stand now we’re in a very strong position which gives us great confidence in the capacity for this project to meet and exceed the dreams of YGY, a true Generation of Yield.
YGY has been envisioned as an experimental platform for both Governance and in the introduction of a new yield farm / DeFi functionality. Most of the DeFi Community is still showing an inquisitive high risk appetite for supporting an emerging financial transition. I am grateful there are people supporting this project. Together we will all work towards creating a strong DeFi ecosystem as a whole.
We wanted to provide these weekly updates, partially outlining our plans for the following week, month, and year ahead.
What we can tell you is that our development team has been in the process of wrapping up their prior project and doing the ground work for a smooth pivot to YGY. This includes setting up communication lines throughout the team, setting the initial development path and continuing to confirm mechanics (we have a lot). I’d like to take a moment to say that our developers’ willingness to be so flexible and put attention towards our project despite them being recruited during a busy time is much appreciated. We are truly grateful to be working with such a professional team.
It’s all in the timing!
What the current plan for Q4 this year is to release staking and work on the LP+ mechanism. Of course that is a “long” period in DeFi. We feel confident that we can get something out by late October as promised, but we do not want to shove an official release date just yet. Again, by mid / late next week we will have a much clearer picture and we greatly appreciate our supporters’ patience.
We are being very conservative in our estimates here because at this stage that is what is most appropriate. We have told the development team repeatedly, prior to hiring, that maintaining a workflow that is natural and not rushed and focused on providing the best possible product is the priority. A lot of groups rush to push out products that are often straight clones and this is not what we are doing. So, we are prepared to spend the following week ahead to push into fully active development and start producing consistent clear updates for YGY. These are the cards we have been dealt, and we are going to work with them to the best of our abilities.
We would like to emphasize once more that we are focused on delivering the vision of YGY rather than rushing some clone ASAP in the attempt to produce price action. Once you see what we’ve been putting together behind the scenes in preparation for the development you will understand why we’re not concerned with rushing something out one week or two weeks after the sale. We do respect the development team and have expressed from the beginning that we do not want to create a relationship where we are attempting to rush our novel YGY ecosystem. We hope you can understand how important it is for the development team remains happy for the long run.
Moving forward with YGY, as planned.
Initially, before our website was even created, it was envisioned developing YGY would take roughly 4–6 months for the completion of the project including the LP+, the governance system, and the collateral pools. Many criticize this saying that it’s far too long of a time frame for the development of any DeFi project… but frankly we’re setting a conservative estimate so that we don’t have letdowns. We want to under-promise and over-deliver, if that makes sense.
In terms of development goals we offer you this rough sketch of what to expect: Please note this is not an official timeline / road map but an estimate which we will refine next week as we the team completes the pivot.
-Staking / primitive interface
-Basic Governance and LP+ first iteration
-Collateral Pools and interface refinement
-Refinement of LP+ and Governance
-Refinement of Boost and gamification
After these stages are met we will be close to having enough of the YGY systems complete that it can truly start to show us what it is made of.
In the mean time we would like to encourage the community to submit your ideas of how we can transition YGY to a community owned operation as soon as possible, including specific use for some of the funds via a multisig. Bring those ideas over our social channels (Discord, Telegram) and the team will gladly go over them. The past week was filled primarily with going over mechanics and making sure we have viability checks on the whole system.
To close… some of you may have seen the announcement in Discord about starting up a podcast for talking about Crypto governance in general. The project lead wanted to bring it up again here to assess if the community would be interested in something of the sorts.
YGY Generator signing out for now…
See you tomorrow.