YLD Heads for Its Second Round of Distribution
On December 14, 2020, 33,320,326 YLD tokens were minted and began trading on both the Uniswap and BitMax exchanges. The result of months of preparation by the YIELD App team, the launch was a notable success, with the token consistently trading well above its initial launch prices of $0.07 for presale tokens and $0.11 for public sale.
This week, on January 14 at 12:00 UTC, a further 32,305,016 YLD tokens will be minted, marking the second round of our distribution. The largest tranche of this round is 22,305,016 YLD for presale backers and supporters from the investment platform BnkToTheFuture. All presale backers are currently earning 12% APY on undistributed YLD, meaning they receive a 1% token increase from our initial December 14 distribution.
Per our emissions schedule, a total of 1,000,000 YLD will be used for rewards and purchases on the platform. YLD bought through the app will be routinely repurchased from the market.
5,000,000 YLD will be sent to our team wallet, with less than 20% distributed to our advisors and team. The remainder will stay in the wallet while the distribution plan is finalized. You can view our team wallet here:
An additional 4,000,000 YLD will be sent to our growth pool and company reserves, which can be viewed here:
Please note that the tokens distributed to our team wallet and reserves will be listed as uncirculated supply on CoinGecko and CoinMarketCap until we coordinate with their teams. The January 14 release will raise the current YLD minted supply to 62,367,965 tokens.
Our next release will be on February 14, with a projected 26,789,386 tokens to be minted. 20,789,386 will be distributed to presale backers, and 1,000,000 will be used for rewards for YIELD App users. An additional 5,000,000 will be sent to our company reserves.
YLD will not reach its maximum supply of 300,000,000 until 2025. As the following graphic shows, YLD emissions slow dramatically following our final distribution in February.
The YLD token performs an essential role in expanding and securing the YIELD App ecosystem, rewarding users and driving participation. When held on YIELD.app, YLD tokens allow users to boost their APY from 12% to 20% and earn up to 10% APY on their YLD.
We have big plans for the coming months and will be releasing an updated roadmap this week. Stay tuned for more exciting developments!