Yieldly’s ambitious 2022 roadmap poised to transform DeFi and GameFi on Algorand
Refreshed roadmap includes AMM acquisition with plans to launch yAMM, yNFT marketplace launch as well as numerous launchpad offerings as the team gears up to be the DeFi and GameFi hub on Algorand
In January 2021, we boldly claimed to become the PancakeSwap of Algorand when we launched Yieldly to the world in our Demo Day pitch for the Longhash Algorand Accelerator program. Our latest roadmap puts us squarely back on centrestage to deliver exactly this. The combination of two new products reiterates Yieldly as the focal point for the Algorand community.
In addition we are committed to becoming the GameFi hub for Algorand with the forthcoming launch of yNFT. We are bringing one of the largest LATAMs esports teams to Yieldly to build NFTs, metaverse opportunities, as well as play-to-earn (P2E) games on Algorand with us.
As mentioned in our previous founder’s note, we are stoked to be presenting the refreshed Yieldly roadmap for 2022, fresh off our first anniversary on 4th May as a company. Some of the items in the roadmap have already been announced and will be coming to life in the coming weeks — so do keep a lookout for those. Let’s dive right in!
Yieldly’s 2022 Roadmap
Roadmap Deep Dive
- Our goal of being the PancakeSwap on Algorand takes a huge step forward with this recent development. We have signed a deal to acquire WAGMIswap.io, including their AMM, wallet and other tech, subject to a due diligence process. Incorporating AMM functionalities on our dApp is something we have been actively pursuing since launching in May last year. This deal potentially sees Yieldly hosting a self-branded AMM built into our dApp, in a process that could be completed in as soon as 3 months. This will bring Yieldly to the forefront of Defi and liquidity provision on Algorand.
Buy & Burn YLDY
- On April 6th, we tested the new ASA burner application Algoburner, developed by Headline, with a 10 million burn of YLDY we had purchased off the market. The idea was to make sure that the application worked as intended, and also to lay the groundwork for a burn feature to be worked into YLDY tokenomics. Eventually, this burn feature will be incorporated into some key aspects of Yieldly’s product suite, including yNFT marketplace fees.
First Governance Vote completed
- Governance is a key part of Yieldly’s roadmap, given that the long term vision is to have community input on the decisions concerning the future of Yieldly. Following the test Buy & Burn exercise, we have also just completed the vote on the Buy & Burn Cadence, in collaboration with Choice Coin. More information can be found in the governance blog we put out last week. A recap on the results can be found on our Twitter page.
First GameFi project launch
- Our very first play-to-earn (P2E) game project on yLaunch is Cosmic Champs. We have outlined the details of this in a separate blog. Do have a read to find out more about what is going on there! A number of staking options for Cosmic Champs’ governance token $COSG is currently available on Yieldly. We do have some more projects lined up and in the works as we make our stand as the cornerstone of Algorand’s GameFi ecosystem.
YLDY/ALGO LP Pool
- We will be launching the highly anticipated YLDY/ALGO LP pair offering the largest YLDY rewards to date as a token of appreciation to our loyal community who have been with us through our adventurous first year. Be sure to look out for the announcements on Twitter!
Largest Esports Team on Algorand
- We are excited to welcome one of the largest esports in LATAM to Yieldly and Yesports. Alongside our sister company Yesports, we will be launching NFTs for them in the yNFT marketplace to support their fan memberships. Our partnership will also include expanding metaverse opportunities with them in our very own yArena. We will be joining them as key Web3 advisors to bring the wealth of our knowledge to them and their wider community of sponsors and fans. Our hope is that this product will spurn a new product line for traditional sports and esports teams across Latin America.
yNFT Marketplace Launch
- We aim to produce the highest quality NFT marketplace on Algorand, boasting smooth functionality and ease-of use. Our GameFi-focused NFT marketplace is currently being audited, and nearing final stages of pre-deployment in Beta. Our world-class dev team have been working relentlessly on its development since late last year and are in the process of fine-tuning the minor details. Noteworthy aspects are that both partners and users will be able to buy, sell and mint NFTs with effortless ease and simplicity; there will be highlighted feature pages for key partners to showcase their gaming NFTs and increase their community interactions. To stack more utility for YLDY, marketplace transactions & fees will eventually be conducted with YLDY, of which a direct proportion will be burnt.
yArena: Metaverse Beta
- We are delighted to announce our metaverse is nearing completion and is in its Beta stage. We will be looking to have it launched within this quarter. The metaverse will be intertwined with yNFT, acting as a platform for GameFi projects to host AMAs, broadcast gameplay live streams and hold exclusive community events. The initial stages of yArena will be a sandbox for GameFi projects to explore ideas to boost community engagement and grow their product.
Q3 & Q4
- Following the completion of our WAGMIswap acquisition, we will launch fully integrated LP Pools, Pools, Staking rewards and other AMM functionalities on Yieldly with yAMM. We cannot emphasize enough the game-changing nature of this product integration into Yieldly. Our plans here include working with top tier liquidity providers to onboard the next $1bn TVL to Algorand.
yNFT | Launchpad
- The functionality to stake YDLY and get early access to NFT drops is a key pillar of building our NFT Launchpad and in turn our Yieldly Launchpad. This functionality is currently being worked on by our developer team and we will aim to have the pre-audit Beta of this out in Q3.
- We will take the yNFT launchpad tech and be working with our lawyers to structure the best way to deploy a launchpad with full KYC for the Algorand ecosystem. The mechanics we want are to be the same as the yNFT Launchpad — i.e. stake YLDY and then get access to token launches on the Algorand ecosystem.
yArena | expanded team offerings
- Upon successful launch of our yArena Beta, we will extend the use case of the arena to allow partner teams and companies to host AMAs, run NFT Auctions (via our integrated yNFT marketplace), and any other virtual event from anywhere in the world. We are also exploring possibilities with virtual land sales that will allow teams and users to purchase virtual land parcels and customise it to suit their needs. For example, a Cosmic Champs section could look like a district where fans can congregate, trade digital assets, watch live streaming events et cetera. We will have secured a KYC partner by Q3, and will look to integrate the tech and legal structure ready for the next batch of project entries.
Extend NFT Prize Games
- Our iconic NFT Prize Games were a huge success in our early days, with over 40 games conducted, seeing an average of $7m in YLDY staked per prize game for chances to win NFTs created by our community, for our community. The first NFT Prize Game for Yieldlings drew in about $20m USDT in YLDY staked in the first five days. We are bringing the games back as a feature page on our yNFT marketplace — with a full facelift, in a brand-new environment. Promising to add a refreshed UI experience, the games will feature exclusive NFTs from Algorand’s leading GameFi projects as well as community NFTs.
We thank everyone for their patience while we got this roadmap refresh sorted. This was several months in the making and there were a lot of moving parts. The roadmap is admittedly an ambitious and aggressive one, but we are getting the right parts to try and piece this puzzle together. Preliminary plans are also currently underway to develop more yield generating products for our users. This expansion of products may include Vaults, where users can commit digital assets like stablecoins for a period of time and generate rewards on their deposits. For now, we are keeping our head down and working hard to deliver on the roadmap. Onward and upwards!