๐Growth Fund
After a successful contract migration in September 2021 which made the extraction of approximately $700,000 liquidity possible, Yummy created a capital asset, which included a unique buyback mechanism, named the โโGrowth Fund.โโ
What is the โโGrowth Fund?''
The Growth Fund is a capital asset that is staked in LP farms in high quality protocols, such as Pancakeswap, ApeSwap and Biswap. The daily yields from these LP farms are used to buy back $Yummy from the open market which is then distributed to the burn wallet and/or staking rewards. This mechanism works independently from Yummyโs contract and trading volume. The assets that form the Growth Fund are primarily BNB, CAKE, BUSD and USDT.
How impactful is the โโโGrowth Fund?''
As of April 2022, the Growth Fund has successfully bought back and burned approximately $2,000-4,000 a day of Yummy tokens. More than $605,000 (60B tokens) have been burned using this method in conjunction with a $1.5M (150B) Mega-Burn of unclaimed migration tokens completed in early 2022. The Growth Fund yields are also used for marketing purposes and project expenses as the capital float can be classified as a liquid capital.
What does the future hold for the โโGrowth Fund?''
The Yummy team is continuously looking for methods to boost the capital value of the Growth Fund. By launching NFTโs which minting proceeds went straight into the Growth Fund, OTC funding rounds and Yummyโs own stable coin YUMMY DOLLAR, the team successfully managed to boost the Growth Fund to an All Time High of $1,700,000. The quest for additional capital injections doesnโt stop here either, as the Yummy team is continuously working to build the capital of the growth fund through creative endeavors and future plans. Yummyโs long term value isnโt measured by current token price, but rather in the Growth Funds value.
To view the Growth Fund balance, visit the dashboard page.
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