TrustSwap will assist YDragon, an ecosystem for cross-chain index funds with yield bearing collateral, with the execution of their token offering on August 13th, 2021 at 9:00 AM PST.
What is YDragon?
The rapid rise of DeFi and blockchain-native projects (with the help of smart contracts enabled by Ethereum) has led to an explosion of innovations and products in recent years, but it has also brought some challenges for the average cryptocurrency investor or trader: massive overhead in terms of required due diligence diligence, laborious and costly transactions, and unnecessary losses. While some have succeeded in navigating the jungle, many others have been victimized by the severe lack of tools they could have otherwise used to reduce their risks and losses.
By providing a brand new method of investing in multiple assets and yield farming protocols at once, YDragon is a set of DeFi tools aimed at bringing that much-needed guidance to the market. Through blockchain technology, the traditional approach to investing in baskets of assets is automated, and the counter-party risk is removed. A smart contract is used to make decisions, instead of a portfolio manager. The yield farm rewards are distributed directly to investors, rather than working for the benefit of the fund management firm.
YDragon’s main goal is to offer investors exposure to the best of DeFi, be it established protocols or up-and-coming dark horses, in a responsible and risk-mitigating way that treats investor capital with the utmost respect.
How Does YDragon work?
The YDragon ecosystem comprises of 2 main products:
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Index Money
An index is a fund whose performance tracks an underlying basket of assets. Diversification is at the core of YDragon and indexes are the primary vehicles through which investors will be able to invest responsibly. Set on a rolling release schedule, YDragon will be offering baskets of assets that vary in their mission statement: some will offer exposure to assets native to a specific blockchain, others will offer exposure to a specific market segment or niche. YDragon’s first foray into the index space will be bringing together the best of what the Binance Smart Chain has to offer, branding it the BSCX.
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Staking Platform
By investing in YDragon indexes, users gain exposure to a variety of safe and popular yield farming protocols in addition to gaining exposure to a diversified set of assets. By investing in YDragon indexes, users are making purchases of the assets represented by the index. Those funds are then partially invested in a set of hand-picked yield farming protocols. In turn, YDragon’s native staking platform offers investors rewards that come from such second-order investment activities. With YDragon’s native platform, index tokens and YDR tokens holders can earn an additional income by staking their tokens.
For more information about YDragon, please visit //ydragon.io
YDragon(YDR) Token Utility
YDR tokens will be used for both decentralized governance and staking.
Governance
YDR token holders will be able to participate in the decision-making process of current and future YDragon index offerings, including but not limited to:
- Index composition: which assets are chosen to be included in an index
- Asset weights: what proportion of an index should an asset represent
- Yield farming protocols: which third-party protocols should be used to generate rewards, which should not
- Staking reward allocations: what percentage of the rewards pool should be distributed to a specific staking pool
- Staking reward schedules: what staking schedules should be offered
Staking
While staking index tokens earns rewards generated from that particular index, YDR token staking earns rewards from all indexes offered by YDragon. A portion of the reward pool of every index will be offered back to YDR token stakers. YDragon also plans to leverage partnerships to offer YDR token staking on third party platforms.
Core Team
YDragon Token Offering Details
The YDragon Token Offering will be executed through the TrustSwap Launchpad. Upon the successful conclusion of the offering, a Uniswap pool will be created on August 18th, 2021, and trading can commence for use of $YDR.
TrustSwap technology utilizes simple and secure peer-to-peer transactions via TrustSwap SmartLaunch™ thereby ensuring that YDragon and its community can transact securely and without the fear of participants or team members negatively impacting the markets following the public offering. TrustSwap’s Time-based SmartLock™ ensures a methodical distribution to mitigate the risk of unauthorized token transfers.
YDragon will use TrustSwap SmartLocks for:
- Team token vesting
- Token holder vesting
- Liquidity locks
YDR Multi-Chain Launch : Ethereum and Binance
YDR will be launching simultaneously on two blockchains: Ethereum and Binance Smart Chain. The TrustSwap Launchpad will support the Ethereum-based ERC-20 tokens while BSC tokens will be available on BSCPad.
YDR Tokenomics
Secure Launch Process of YDragon
To ensure a smooth launch, YDragon has already:
1) secured the website with SSL certificates
2) Had the domain protected by Cloudflare and implemented secure VPNs to be conformant to best practice Guidelines
3) Performed penetration testing and PCI ASV Scanning
And will:
1) Disclose the vesting schedule of all tokens, including team, strategic investors, private presale, influencers, etc.
2) Authorize the addition of no less than $200,000 of ETH liquidity on Uniswap immediately upon listing.
3) Distribute tokens to launchpad participants within one hour of Uniswap listing using Multisender according to the schedule.
4) Provide the timeline for token distributions and distribute tokens within one hour of the agreed upon time.
5) Have at least one community moderator on each social platform (Discord, Telegram, etc.) actively available 24 hours a day for the first 7 days following the launch on Uniswap.
YDR Token Offering – Participation and Allocation
Anyone, including those outside the TrustSwap ecosystem, are eligible to apply for participation in the YDR token offering granted they meet jurisdictional restrictions; however application does not guarantee an allocation.
If the token offering becomes over-subscribed (due to pledges exceeding the $800,000 hard cap), priority allocations will be given to the TrustSwap community as follows:
To check your SwapScore, ranking, and other staking stats, login to the TrustSwap Dashboard.
NOTE: An active stake as of 9 am PST of August 13th, 2021 is required to be eligible for an allocation based on “Staked Swap” tiers.
Step-By-Step Guide
1. On August 13th, 2021 at 9 AM PST, the Launchpad portal will open for 24 hours during which time you can go to //launchpad.trustswap.org/.
2. Go through the steps listed and upload your KYC documents if required.
Note: If you have already registered with Sekuritance in the past 90 days, you may not need to provide new KYC documents.
3. Have the following documents handy as you may be asked for them:
- Proof of identity (Passport, Drivers License, or Government-issued ID card) including clear, complete photos of both the front and back of the ID card (or both the front cover and photo page of the Passport).
- Selfie with the proof of identity document and a note reading “YDragon August 2021”
4. After twenty-four hours, the portal will close. There will be a waiting period of up to 48 hours as the team finalizes internal processes.
5. Approved participants will be contacted via the TrustSwap’s Dashboard Messaging System with payment instructions. Log in with your registered wallet to see your messages.
If your application is successful, you will receive an email indicating how much you are able to contribute to the token offering. You will have 24 hours to send the funds.
What Should I Do to Prepare for the YDR Offering?
1. Based on the requirements set for a guaranteed allocation, stake your $SWAP tokens here before the deadline mentioned above.
2. Submit your details and documents at any point during the 24 hours window at https://launchpad.trustswap.org/.
Where Can I Learn More About YDragon?
Who Can Participate in the YDR Token offering?
Anyone not domiciled in the USA or UN sanctioned countries can participate in the YDragon token sale.
*The eligible countries list is selected by YDragon. If your country is not listed, this does not mean you are ineligible for future TrustSwap Launchpad projects.
** Launchpad dates are subject to change. This is not an endorsement, partnership or an offer for investment by TrustSwap. YDragon is using the TrustSwap Launchpad as a customer, with specific requests as to how they need their launch to operate. TrustSwap is a provider of non-custodial, smart-contract-based software services. Digital assets carry a high level of risk. Participation is performed at your own risk. Exercise caution and conduct your own due diligence.
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
