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cryptocurrency September 15, 2020

YFMoonshot DeFi Project Launches Presale Event of 10k YFMS Tokens 2

Quick take:

  • The new DeFi project of YFMoonshot will commence its presale today, September 15th at 11:30 pm UTC
  • A total of 10,000 YFMS will be up for sale with total supply capped at 35,000 YFMS
  • The presale event will run for 7 days or till the hard cap is reached
  • YFMoonshot will allow users to stake various digital assets and earn YFMS, its governance token

The DeFi space is growing at warp speed and the team at YFMoonshot (YFMS) is in the process of commencing on the projects presale event that starts today at 11:30 UTC. The token sale will run for 7 days or until the project’s hard cap is reached. At the time of writing, 600 investors have signed up for the whitelist of the presale.

Once the presale is over, any unsold YFMS tokens will be burned. Uniswap trading will commence immediately after the presale event with YFMoonshot providing liquidity from the ETH pool. Additionally, the said liquidity will be locked for a full year and added gradually to provide price support for YFMS.

Price Per YFMoonshot (YFMS)

A total of 10,000 YFMS tokens have been set aside for the presale event. The token sale price will start off at 6 YFMS per ETH and adjusted daily according to the following schedule.

  • Day 1 : 6 tokens / ETH
  • Day 2 : 5.5 tokens / ETH
  • Day 3: 5 tokens / ETH
  • Day 4: 4.5 tokens / ETH
  • Days 5–7: 4 tokens / ETH

YFMoonshot has set a soft cap of 150 ETH. If this amount is not reached during the presale event, participants of the crowdfunding will be able to buyback their Ethereum (ETH) by sending their YFMS tokens back to the token sale contract.

Allocation of the 35,000 YFMS Total Supply

With respect to supply, YFMoonshot will have a total supply of 35,000 YFMS further distributed as follows for the various elements of the DeFi project.

  • Presale – 10,000 YFMS
  • Marketing and Development – 3,000 YFMS
  • Staking Rewards – 20,500
  • Uniswap liquidity – 1,500 YFMS

More on the YFMoonshot (YFMS) DeFi Project

YFMoonshot is a DeFi project that allows users to earn YFMS tokens while staking their digital assets on various pools. YFMS is the governance token of YFMoonshot and staking the token will also earn users additional YFMS with time.

At the time of writing, users can stake the digital assets of Tether (USDT), Dai (DAI) and True USD (TUSD). More pools will be added in the future as YFMoonshot grows.

To provide price support for the YFMS, each time the tokens are unstacked, 2.5% of them will be burned. Furthermore, half of the daily yield generated by staked assets will be used to purchase ETH and exchange it for YFMS tokens from the market. These purchased YFMS tokens will be burned daily at 00:00 UTC.

In terms of security, YFMoonshot (YFMS) project’s code and website are currently being audited.

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