YFDAI (YF-DAI) updated its roadmap for 2021 shortly after the introduction of the SafeSwap Governance Token (SSGT). With the introduction of this token, an important goal for the second quarter of the year will be achieved. With more than half of the quarter ahead, users can expect various changes to existing YFDAI products, as well as additions to YFDAI’s offerings for the DeFi community. The Q3 / Q4 roadmap lists upgrades for YFDAI’s core product line, DeFi safety-focused products with carpet tensile protection, new products to be launched, and the foundations for further expansion to insurance.
Since the release of its roadmap, YFDAI has also announced a partnership with Polygon (formerly Matic) in which YFDAI will use the Polygon protocol and blockchain framework to solve inherent Ethereum gas problems while maintaining the scalability and interoperability of the YFDAI ecosystem to improve. The two companies will also share resources where YFDAI’s LaunchPad projects can easily be featured in QuickSwap, Polygon’s native Dex. YFDAI plans to move its DEX SafeSwap entirely to Polygon. Further information follows.
The SafeSwap Governance Token is here
SafeSwap limits users’ exposure to illiquid tokens and rugpulls by maintaining strict standards for projects wishing to enter their tokens into the YFDAI’s DEX. The latest token added to SafeSwap’s liquidity pools is now its own and has several notable utilities. YF-DAI owners, stakers, and farmers were eligible to receive SSGT via air drops announced in the past 6 weeks, and to earn SSGT in other ways. Additionally, the tokens can also be purchased through SSGT’s public sale on Tuesday May 11th.
SSGT has several uses beyond its store of value and being the token of a successful DEX. These uses include voting rights in the DAO, liquidity bonuses from SafeSwap, stake bonuses of 72% per year, and increased allocations for upcoming pre-sales. More details on the token’s utility governance rights and NFT rewards can be found here. YFDAI has also released an extensive list of FAQs regarding its newly launched token.
The launch of credit and credit leads to Q2 updates
After receiving your own token, SafeSwap looks forward to an update in the following weeks. Other changes to existing products include a ramp-up for YFDAI LaunchPad projects and an update to SafeTrade’s low-risk, low-frequency automated trading bot algorithms. Since its inception earlier this year, LaunchPad has provided an incubation space for high quality and vetted projects to attract investor attention. More new projects are being offered as Launchpad has proven to be a success in itself.
The biggest news for the second quarter after the SafeSwap token launched is YFDAI’s entry into lending. Asset collateralization and borrowing capabilities continue to be a key pillar of DeFi, and YFDAI expects its long-awaited entry in June this year. Details of the release will be announced shortly, but it can be assumed that YFDAI’s credit / lending platform is rated as just as secure as the other additions to the DeFi ecosystem.
Updates and additions for Q3 / Q4
Releases announced for the third quarter mean another exciting quarter is expected for users as a debit card, mobile app, and new product launch, SafePredict, will be available soon. While the issuance of a debit card and mobile app rounds off the release of the core features announced by YFDAI in 2020, SafePredict is following a newer trend that is becoming increasingly popular in predicting future coin prices. SafePredict is introduced with YF-DAI as the main token and plans to expand to ETH, BTC et al in the future.
The third quarter will also welcome an expansion to a Layer 2 solution (although it will likely come much sooner), which will increase transaction speed, lower fees for users, and help reduce overall congestion on the Ethereum network. The expansion to a Layer 2 solution means that more transactions can be carried out for less gas. This in turn should help drive future developments and more complex products that depend on multiple transactions. In addition, YFDAI will start modeling its insurance product as it moves step by step to get started with DeFi insurance.
In the fourth quarter, it plans to roll out a new customer service platform, integrate it with e-commerce following the release of a debit card, and investigate bridging DeFi with real-world resources. YFDAI looks forward to these updated goals from today’s perspective and appears poised to expand the DeFi community’s access to security-focused tools well into the new year