Our introduction post received lots of positive feedback. We are excited about forging some great partnerships to help build YOP and look forward to announcing some of them soon. The project is starting to ramp up production speed with our fantastic team of developers, just as we look to finalise our seed round of funding.
For the new members of the YOP community, we wanted to outline the token economics and the roadmap. We envision YOP as the all-in-one DeFi platform that will become a key component to access digital assets. YOP, in a nutshell, is DeFi for everyone. Our initial focus is on creating yield opportunities. We believe that the industry as a whole is still early but on the cusp of another hyper-growth cycle. DeFi products have showcased the real power of a decentralised, community-based ecosystem. Communities are crucial to the success of any project and the space as a whole. By giving more power and control to individual members, we can collectively achieve more, building more impactful products and legacy.
As we start to build out V0, we look forward to more people joining us on this exciting journey and achieving great things together.
The YOP token has two essential functions. First, it is a utility token to access the YOP application, reward programmes and the marketplace. Second, it will serve as a governance mechanism for the community. We believe decentralised governance empowers the community and keep everyone involved. YOP token holders will have direct input into the evolution of the YOP DeFi ecosystem and smart contracts on the platform. Strong communal participation and engagement add significant value to the project and create beneficial network effects.
YOP has a max supply of 88,888,888 tokens. Yes, that’s eight eights. We like the number eight, so we decided to keep it eights all the way. The token is also divisible by 8 decimal points. The smallest fraction of a YOP token, 0.00000001 will be 1 yOPI. YOP will be an ERC20 token, issued on the Ethereum blockchain. In the future, we may open bridges to other blockchains, enabling seamless swapping of YOP tokens between networks. The original 7 network integrations mentioned in our deck are strong contenders for this.
The initial circulating supply will include 10,666,668 tokens sold for our seed funding and a portion from the 2,666,668 tokens reserved for liquidity. The table below shows the breakdown of the token supply.
To sum up, YOP token will have a max supply of 88,888,888 and the initial circulating supply of up to 13,333,336. Annual inflation is estimated to be around 4–6%, primarily from tokens coming into circulation from other pools and the release of team tokens. Team tokens vest over 24 months, with a linear release after V0 of the app. There will be no public token sale.
The initial market cap will be $533,000. We believe that starting small will give us a better opportunity to build a strong foundation and foster organic growth. The seed/private sale will only be available to accredited investors. After V0, we will review our plans and explore options to raise further capital to accelerate growth. We want to take it step by step and have a sustainable long-term project.
We plan to have the first version of the mobile application launched on the App Store & Google Play Store within 3 months of closing our funding round. At the current rate, we aim to launch YOP V0 in Q1 2021. Development is always tricky, and technical hurdles can delay a production-ready product so we will keep everyone updated as we progress. Having said that, we are confident in our ability to deliver V0 in the given time frame.
V0 will cover the 5 main product areas shown in our initial mockups. That would be the Farmers Market, Swap DEX, Wallet, Market Data and Dashboard. The primary goal for V0 is to get the mobile application functional for the first suite of products before we explore more feature sets. As we are in a fast moving industry, new innovation is always on the horizon and we take note of this in our ongoing research.
V1 is set to be the first fully-fledged platform for YOP. With integration of more features such as auto pool switching, intelligent yield, lower transaction fees and possibilities of L2 implementations. As DeFi products rapidly evolve, we are continually reviewing the marketplace for new partnerships and new features that will allow us to bring a more innovative and powerful offering to the YOP community.
The arrival of V2 will continue to progressively update platform features in the build up to leveraging our existing network in traditional markets for supercharged user growth. With a passionate base community behind us, we believe that YOP has the opportunity to be a genuine disrupter in the crypto space and beyond. By V2, we envision the platform to have multi-device support across mobile/tablet/web. We hope that with leading customer experience, latest technology and strong YOPonomics fuelling growth, we can facilitate the transition to a digital economy and onboard millions of users into digital assets.