Thank you everyone so far for your support. Our official presale is live at the bounce listing here: https://bounce.finance/join/swap/3573
Start Date: Oct 10th, 2020, 6 PM UTC Coordinated Universal Time
End Date: Oct 13th, 2020, 6 PM UTC
Public Sale: 17,500 YGY
Price: 12.5 YGY PER ETH
Soft Cap: 700 ETH
Hard Cap: 1400 ETH
Locked Liquidity Amount: 7,250 YGY at cap will be dedicated to Uniswap and LP+
Over 42% of the liquidity is locked.
Prior to launch, we had created the Bounce Sale contract and shortly after we found that there was a coordinated effort to send out fraudulent sale links. We did not expect a total of 7 different fake telegram announcement channels either. The team discussed what to do at the time the fake Bounce links were being shared. We decided to launch our presale at that time, which was a little bit earlier than expected.
We know many of you were disrupted by this early launch and that it has brought a bit of skepticism to the project but we wanted to address this professionally. We greatly appreciate your patience.
- Our GitHub organization had a breakdown of several file directories with a plan to fork the CORE contract as part of LP+, but also allowing liquidity to be unlocked. The simplest way to perform this action is by forking CORE and changing parameters. We are not a complete CORE clone, but the contract will employ the same re-buy mechanism. We have made it clear throughout the build up to the presale date that the platform is not complete, nor will it be a direct fork of another other project (just look at the mechanics- no one has that yet). The reason this project is even seeking Presale is to raise money to develop the platform. We have a very high liquidity lock allocated for Uniswap and all of the remaining ETH is to be used for the development costs of the platform. Any unsold presale tokens are burned.
- The YGY token was generated with a standard, tried and tested community ERC-20 creation contract. This is the same contract and execution XIOT was made with. We felt this would make the safest token possible, with the most amount of guaranteed security. The system is designed to operate off a fixed and totally minted supply of simple tokens. The logic of the platform is not dependent on mechanisms within the YGY token contract. This project was designed to be an open source community operation. Not being tied into the token that is required to operate the platform allows the contract logic to be applicable to many other systems.
- Our team has chosen to remain anonymous at this time- given the recent developments of BitMex. We assure you that we are here to stay and develop YGY into what we have always envisioned.
This project was developed off of reflections concerning the state of the DeFi marketing and looking at what types of products were gaining traction, as well as what areas were being ignored. The goal has always been to produce a platform that is sustainable but also containing unique governance elements that give it an experimental edge by interfacing with the DeFi industry at large. People take a risk every day being in DeFi, and we are ready for the road ahead of us with our investors.
Anyone who actually has legitimate comments on the proposed mechanics is invited to come to our socials to discuss with us. But please do not come with baseless FUD against our launch method.
Lastly, from a DeFi development perspective. Look at the mechanics proposed. If you are not a dev ask a DeFi dev to look at them. Get their opinion. Lets start this conversation because we all know that governance is something that needs a good solid look at in DeFi.