{"id":"yield-farming-index-token-dollaryfx","version":1,"language":"en","title":"Yield Farming Index Token ($YFX)","hidden":false,"content":"**$YFX** serves as the native token for the [Yield Farming Index Protocol](https://iq.wiki/wiki/yield-farming-index-yfx-protocol). It is structured to enable engagement in single-stake vaults for the $YFX token, with the goal of directing a portion of the protocol's revenue to [stakers](https://iq.wiki/wiki/staking). $YFX Token holders can vote for or against proposals by the [YFX Protocol](https://iq.wiki/wiki/yield-farming-index-yfx-protocol) on Snapshot. [\\[1\\]](#cite-id-un01n8y1t2g)[\\[2\\]](#cite-id-f8ca5efwxzl)[\\[3\\]](#cite-id-vm6uucokpaj)[\\[4\\]](#cite-id-jd7yg7h8hym)[\\[5\\]](#cite-id-tromlhqjcrp)  \n  \n# Token Distribution  \n  \nThe presale for YFX had three distinct phases: a private sale, [GMD](https://iq.wiki/wiki/gmd-protocol) launchpad sale, and public sale, with priority start on February 27th, 2023, at 5pm CST. During the private sale, tokens were offered at a rate of $1/YFX with a hard cap of 1,000,000 tokens at $750,000. If the private sale failed to reach $500,000, the hard cap for all sales would be set at $1,000,000. If sales fell between $500,000 and $1,000,000, the combined hard cap would increase to $1,500,000.  \n  \nКeaching the hard cap, the total cap for all sales would be $2,000,000. The public sale commenced on February 28th, 2023, at 5pm CST, concluding on March 1st, 2023, at 5pm CST, with sales reaching $2,000,000. The total [market cap](https://iq.wiki/wiki/market-capitalization) and supply of YFX were determined based on the dollar amount raised during the presale, ensuring a deflationary trajectory for the token going forward.[\\[1\\]](#cite-id-un01n8y1t2g)[\\[6\\]](#cite-id-eqywowp3fxm)[\\[7\\]](#cite-id-dbmsmeh2iw)  \n  \n# ![FqBaneoakAEvLFw.jpeg](https://ipfs.everipedia.org/ipfs/QmWWVB3T5tvuUuprxzQaAtkSuuXYFGLTs3egGrBQY25niJ)Allocation  \n  \nThe YFX token supply distribution is structured as follows:  \n  \n* **Presale:** 75%  \n* **Liquidity**: 15% (matched with 20% of presale funds)  \n* **Team**: 10% (subject to linear vesting over 180 days)  \n  \nAdditionally, the team is entitled to a 40% share of the profits generated by trades on a monthly basis.[\\[6\\]](#cite-id-eqywowp3fxm)[\\[8\\]](#cite-id-ez6a4io6ucj)  \n  \n# Tax and Deflationary Model  \n  \nThe tax and deflationary model employed by the [Yield Farming Index Protocol](https://iq.wiki/wiki/yield-farming-index-yfx-protocol) features a 1% transaction tax applied to both buys and sells. Half of the collected taxes are allocated to the team, while the remaining 50% undergoes a systematic [burn process](https://iq.wiki/wiki/token-burn).  \n  \nIn addition, the protocol incorporates a redemption mechanism, initiating a 48-hour [burn](https://iq.wiki/wiki/token-burn) period on the 1st of each month. During this period, holders have the opportunity to burn YFX tokens, thereby earning their proportionate share of the Redeemable Fund Value (RFV). [\\[9\\]](#cite-id-m1i5wdtvxvh)  \n  \n<br>  \n","summary":"The Yield Farming Index Token ($YFX) is the native token of the YFX Protocol, facilitating stake vault engagement and protocol governance via holder voting.","categories":[{"id":"cryptocurrencies","title":"Cryptocurrencies"}],"promoted":0,"tags":[{"id":"Protocols"},{"id":"Stablecoins"}],"metadata":[{"id":"references","value":"[{\"id\":\"un01n8y1t2g\",\"url\":\"https://yieldfarming-index.gitbook.io/yfx-docs/yfx-tokenomics/usdyfx-tokenomics\",\"description\":\"docs - tokenomics\",\"timestamp\":1706501345991},{\"id\":\"f8ca5efwxzl\",\"url\":\"https://paladinsec.co/projects/yfx/\",\"description\":\"paladinsec - YFX\",\"timestamp\":1706501360772},{\"id\":\"vm6uucokpaj\",\"url\":\"https://coinmarketcap.com/currencies/yieldfarming-index/\",\"description\":\"coinmarketcap - YFX\",\"timestamp\":1706501371162},{\"id\":\"jd7yg7h8hym\",\"url\":\"https://snapshot.org/#/yieldfarmingindex.eth\",\"description\":\"snapshot - YFX\",\"timestamp\":1706501381382},{\"id\":\"tromlhqjcrp\",\"url\":\"https://twitter.com/YieldfarmingI\",\"description\":\"twitter - YFX\",\"timestamp\":1706501392496},{\"id\":\"eqywowp3fxm\",\"url\":\"https://www.coincarp.com/currencies/yieldfarming-index/project-info/\",\"description\":\"coincarp - YFX\",\"timestamp\":1706501673980},{\"id\":\"dbmsmeh2iw\",\"url\":\"https://medium.com/@gmdprotocol/gmd-launchpad-1-yfx-protocol-5f11a5ccc0de\",\"description\":\"medium - GMD x YFX\",\"timestamp\":1706501688509},{\"id\":\"ez6a4io6ucj\",\"url\":\"https://yieldfarming-index.gitbook.io/yfx-docs/yfx-tokenomics/team-allocations\",\"description\":\"docs - Team allocation\",\"timestamp\":1706501713639},{\"id\":\"m1i5wdtvxvh\",\"url\":\"https://yieldfarming-index.gitbook.io/yfx-docs/yfx-tokenomics/tax-and-deflationary-model\",\"description\":\"docs - tax and deflationary model\",\"timestamp\":1706501731896}]"},{"id":"contract_url","value":"https://arbiscan.io/address/0x00fAC1CCd84e1549BA5EFb928ac0644a2546034b"},{"id":"previous_cid","value":"QmdM7ur4bCH6Wtyr28NCUqR2b9dX44r8HykFMiQz6mUqNH"}],"user":{"id":"0x6753061a4cffbc0A617e57E956A298D88702a94B"},"author":{"id":"0xf32ECD5c8f5633212f1a25A3931aDDc0CEc42938","profile":null},"media":[{"name":"FqBaneoakAEvLFw.jpeg","id":"QmWWVB3T5tvuUuprxzQaAtkSuuXYFGLTs3egGrBQY25niJ","size":"0.09","type":"GALLERY","source":"IPFS_IMG"}],"views":33,"events":[],"ipfs":"QmdM7ur4bCH6Wtyr28NCUqR2b9dX44r8HykFMiQz6mUqNH","transactionHash":"0x141b0e2640616c46df17e9b601d0b22345ada555af0ce4cb7e7f81d1c8aa4564","created":"2024-01-29T04:18:59.741Z","updated":"2024-02-19T16:25:21.730Z","images":[{"id":"QmZcx1w4UtLA26X1hN6vZqXjDJg6efzGTNF7Gj4yzJmQ53","type":"image/jpeg, image/png"}],"linkedWikis":null}