Yapeswap Weekly Update — July 29th

The following is an abbreviated account of the Yapeswap weekly developer’s meeting held on 7/29/21

The team discussed the project schedule and set hard dates for the V1 Launch and emissions (8/15) and for the release of the V1 landing page and documentation (8/10). During these discussions, the team reached a consensus that although an 8/10 launch date was feasible from a technical perspective, more time was needed to attract LP’s and users to the protocol through Twitter engagement and other social channels such as Discord and Medium.

Before selecting the initial pair that will be supported by Yapeswap, the team agreed to a ‘guarded launch’ for V1 with limited token pairs, meaning that the Yape operation account will have the farming rate set to 0 initially. The Yearn farming feature will be implemented with stablecoin pairs before expanding farming to all supported pools.

The Initial Contributor’s Sharing Program (ICSP) and forking of the workhard.finance DAO framework was also reviewed by the team with respect to settling on a launch date (see FAQ’s for more information on Yapeswap’s relationship to workhard.finance). When forking the WHF DAO, the initial contributor shares received by ApeBuilder to fund the project’s labor must be distributed to the team. In other words, each contributor will receive founder’s shares, entitling them to a portion of the emissions allocated to the ICSP.

Providing incentives to early Yapeswap users to draw trades and liquidity to the protocol. The team tentatively agreed to airdrop some $YAPE emissions to token holders of large AMM’s such as Uniswap and Sushiswap, but decided to resume conversations after the tokenomics (emissions and supply curves) have been designed.

The team reviewed their progress with testing the protocol. The core logic testing has been completed and may be found on Etherscan at:

Ethereum Transaction Hash (Txhash) Details | Etherscan

The testing for the governance logic including token emissions and yield farming can only be done after successfully forking the WHF DAO and Yapeswap has it’s own token emitters.

SAll developers quickly agreed that no additional recruiting for the team was needed, at least until after V1 launch, and that 3rd party audits will be completed as soon as possible following V1 launch and will be the first item funded by the Yapeswap treasury.

Before ending the meeting, the team briefly reviewed the team’s Objectives and Key Results document with respect to Yapeswap V2. It is Yapeswap’s goal to become the most profitable AMM for Liquidity Provider’s and the most important metrics for AMM’s are

  1. Total Volume Locked
  2. Swap Fees
  3. APY’s

When building Yapeswap V2, the team hopes to achieve high marks in all of these categories by making use of more capitally efficient AMM designs such as Sushi’s newly released Trident suite and adding other features such as DEX aggregation services (such as 1INCH) to secure competitive trading fees.