Yokozuna Finance’s ZUNA built on IOST Achieves Significant Milestones
It has been an exciting six (6) weeks for Yokozuna Finance and the ZUNA community, following the successful November completion of the Beosin Security Audit and the highly anticipated December 10th launch of $ZUNA token built on IOST.
While the team has been busy introducing new pairs, features, and functionality to the app.yokozuna.fi DApp, the project has reached several significant milestones which has them eager to share some highlights and accomplishments and preview what’s to come in 2022.
$5 Million USD in Total Value Locked
Prior to the recent broader market pull back, Yokozuna Finance team announced surpassing $5 Million USD in Total Value Locked Value (TVL). The early popularity and success can be attributed to the introduction of IOST and ZUNA single token vaults and several widely popular Liquidity Pools (LP) including METX_IOST, HUSD_ZUNA, XPLUS_ZUNA, OTBC_ZUNA and most recently, a DON_ZUNA vault introduced January 12th. The current TVL is approximately $4.3 million USD and anticipated to rise as the market recovers for the decline of the last several days.
125 Million IOST Staked to Yokozuna Finance Nodes
The teams’ new year promotion to boost the “87+3 day” IOST vault to 20.22% on January 1st served as a catalyst for the Yokozuna Finance nodes “yzblock01”(Producer Node ranked 10th) & “yzblock02” (Producer Node ranked 21st) to secure more than 125 million IOST staked. This significant achievement helps the project to continue to offer its’ unique “Double Mining” of IOST + ZUNA in its’ IOST single token vaults. The team is continuing to work with the IOS Foundation to foster collaboration with existing and new IOST based projects and attract more users to IOST ecosystem.
2 Millionth $ZUNA Emitted
January 20th marked the 2 millionth $ZUNA token emitted since the project’s launch. Current $ZUNA token emissions are 47,500 per day earned via FAIR LAUNCH yield farming. The deflationary $ZUNA token distribution model will distribute 80 million $ZUNA with a distribution schedule that calls for 20% of the remaining supply emitted annually, ensuring longevity and sustainability for the foreseeable future. The maximum supply of ZUNA is 100 million and users are encouraged to follow circulating supply, daily emissions and price data on the dashboard of the DApp home page.
LunarCrush begins tracking Yokozuna Finance
LunarCrush, a leading social intelligence for crypto tracking site has recently listed @yokozunafinance $ZUNA token and is actively tracking our social media presence. We anticipate CoinMarketCap, CoinGecko and other token tracking sites to follow once their requirements which include being listed on an established Centralised Exchange (CEX) are met. The team is currently pursuing CEX listings and is in advanced discussions with several mid-tier CEX’s while continuing to pursue listings on top tier exchanges. The team expects to be listed on at least one CEX by the end of February.
In the meantime, in addition to $ZUNA being available at Yokozuna Finance AMM (app.yokozuna.fi/exchange), it is currently also available at the two IOST DEX’s otbtrade.com and iostdex.io, as well as the Donnie Finance (donnie.finance) and XPlus (app.xigua.ist) AMM’s.
Yokozuna Finance attends North American Sumo Championships
In keeping with the Yokozuna Finance mission to educate and entertain IOST users while promoting the sport of Sumo to avid and non-traditional fans around the world, several members of the Advisory team met in Las Vegas to attend (and one even participated) the 2021 North American Sumo Championships. Amateur male and female participants in several weight divisions competed for the right to represent North America in the July 2022 World Games to be held in Birmingham, Alabama, USA.
The Yokozuna Finance team seeks to further work toward its’ mission and continues to evaluate opportunities with Sumo Federations, Associations and Clubs around the globe to broaden the reach and appeal of the sport for amateur and professional Sumo.
What’s Next:
NFT System and DAO Fund Ownership and Governance
The development team is working diligently on the Yokozuna Finance NFT system expected to be introduced before the end of Q2. ZUNA will be the exclusive token to purchase Sumo themed NFT’s and items that will enable eligible NFT holders to own and govern the DAO Fund.
The NFT system will feature both Auction and a Secondary Marketplace for users to win, buy and sell Sumo themed NFT’s exclusively with $ZUNA.
Seeded with 1 million $ZUNA, the Yokozuna Finance DAO Fund has a current value approaching $200K USD. A key future funding mechanism of the DAO Fund provides for a percentage of the transaction fees to contribute directly to the DAO, which will be implemented along with the introduction of the MetaVerse compatible NFT system anticipated before for the end of Q2 2022.
What’s more:
· The team will be introducing a new vault governance module, where users can raise proposals and seek community vote to implement changes.
· Yokozuna Finance will increase its’ marketing support with a focus on new users to help grow the community. Users can expect AMA’s, wallet creation support events and promotions, as we lead up to our NFT system introduction.
As you can see, the team is focused on delivering the objectives set forth in our roadmap while striving to be a leading DApp in the IOST ecosystem. The team has placed a priority on communication and will continue to review community feedback and suggestions to continually improve the platform.
More on Yokozuna Finance’s Roadmap can be found here. To learn more about Yokozuna, check out Telegram, Twitter, Japan Twitter
About IOST Blockchain- An Ideal Home for your dApps
For DeFi decentralised applications to satisfactorily compete with traditional applications, the underlying network must be fast, meshing perfectly with the objective of DApp launchers. Among the competition, IOST — an enterprise-grade, decentralised and ultra-fast network oiled with a proof-of-believability consensus algorithm — is building a robust portfolio by offering developer-friendly features and environments.
The IOST platform emerged as a response to the scalability problem, aiming to tackle the issue once and for all. IOST implements an array of technologies, including a proof-of-believability algorithm and high-performance virtual machine technology, all of which are supposed to offer higher TPS rates of up to 8,000 transactions per second.
Since 2019, IOST has offered a holistic dapp ecosystem and continued to make inroads in the budding DeFi and NFT space with multiple strategic partnerships and emerging on-chain projects — such as stablecoins (HUSD, JPYA, USDA), NFT Marketplace (TOKENLINK, Revival, RIZIN FIGHTING COLLECTION) and the newest Yokozuna Finance.
Developer-friendly features that have no congestion and no high gas fees, as seen in the Ethereum and Javascript smart contract languages, are the reasons many developers choose to launch DeFi projects on IOST. A transaction fee at no cost also guarantees users the convenience and accessibility of using the applications on the IOST chain.
To learn more about IOST, visit its Twitter and Medium page.
