Review on Yakuza DAO by Paul Maduagwu
Yakuza DAO using DFO gives it better trust.
Yakuza DAO $YKZ major trading market is Uniswap Decentralized Exchange. The project has a max supply of 10,000 YKZ and current price (29/9/2020) is at ~$46. The project hasn't been around for long, thus most of its social media accounts are still new, and its considered under the Decentralized finance category.
I am not much of a fan of new projects, especially when their usecase is limited or common. At first glance it looks like another Defi project. The good part is though, the project is now community driven. With yield farming built on DFO hub (Decentralized Flexible Organization), where all of the supply and Liquidity Provider tokens have been issued to the DFO so that it is fully controlled by the holders.
That's pretty decentralized, but its low max supply compared to its present price contradicts this goal of decentralization in my opinion, very few people could easily control the market, if they can take the risk.
There was a "rug pull" by the original creators of the project, funds were stolen, before it was rebranded as $YKZ by the remaining community. Its all listed on the projects official website, which shows transparency. Staking and Farming is planned 30th September 2020, which is worth looking forward to.
This DFO method and the projects transparency of the stolen funds gives a feeling of trust that this time around the project has a plan for long term, for itself and for Decentralized Finance in general.
Pros
- Its an Ethereum token, it can be stored on any ERC20 compatible wallet.
- Recently being traded.
- Community owned project.
- Staking and Farming support on DFO.
Cons
- Total supply 10,000 $YKZ might reduce decentralization.
- Listed on Very few Exchanges.
- Rug pull project once. Affected holders have been refunded.
- Common usecase (Farming, staking, making payments).
