Transplanting Season

The question at the top of everyone’s minds currently tending to their gardens over at garden.yield.credit: will there be a transplant to future gardens or is it time to harvest and be done with it? Short answer: yes, there will be a future garden! Long answer…

First off, it’s important to clarify that despite its name, Yield is not in fact a yield farming project. You can read more about what Yield actually is about here. Despite its popularity in the last couple months, yield farming is not *ahem* much of a product in and of itself. It helps with distribution of a token but that’s about it. Speaking of distribution, you’ve probably noticed there’s an address with some ~54% of the total YLD supply. Dubbed the “do-everything” wallet/allocation, that share is not a mistake but it is a bit more than initially planned. The initial supply was supposed to be 2M YLD with an even, 50:50 split between the market and the do-everything wallet, with it progressively diluted as tokens get minted by borrowers using the dapp, but due to certain factors surrounding cheating and the airdrops, the situation changed. Do-everything encompasses the “team” — which you can come to be a part of, marketing, bounties, liquidity incentives, etc.

To that end, going forward, 50K YLD from the do-everything wallet is committed towards future Gardens. Again, from the do-everything wallet, NOT extra tokens being minted into existence. You can call this the Garden fund. This allocation won’t be for one future program and then it’s all over like the current one but a continuous program that has its allocation tweaked depending on how the market around Yield performs. For the first month, 10K YLD from the fund will be allocated for the liquidity mining program — 5K YLD for each pool. This will run for 30 days and keep much of the same dynamics as the current program. After that, the amount allocated for the next liquidity mining program will be dependent on the total amount of YLD minted by borrowers in the Yield dapp that month. Say 75K YLD gets minted that month, the amount committed from the Garden fund towards the next program would be anything from 10% to 50% of the 75K amount, dependent on market conditions and how it benefits usage of the dapp.

This dependence on usage of the dapp is important because, again, Yield isn’t simply some yield farming project so everything affecting its tokenomics has to be of benefit to its actual goal, which is why all the unstaking fees from the Garden are going to be used to buyback YLD from the market and burn it.

Keep up with future announcements and updates by following on telegram and/or twitter.

Yield is a fixed-rate lending dapp with incentivized borrowing & lending.